People like to buy clothing, automobiles, and other products from well-known
brands in the current period. The trustworthiness of well-known companies and people’s desire to flaunt their status are the main factors that could explain this natural inclination. I believe that this is a generally bad development because it
contributes to the widening gap between the rich and the poor.
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People’s preferences for products from well-known brands can be explained by two basic causes. First of all, purchasing well-known brands assures consumers of high-quality goods. This is because well-known brands have traditionally been associated with high-quality goods, and as a result, consumers trust them. Second, a lot of people, today, enjoy displaying their wealth or social standing. Luxurious vehicles from brands like Porsche and Mercedes are a great example of this. They are typically quite expensive because of their materials and unique features. They are therefore perceived as a tool for the wealthy.
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In contrast, it is reasonable to say that this trend is harmful to society’s growth because it may lead to a number of socioeconomic problems involving the rich and the poor. Poor people generally don’t have access to profitable jobs, which makes it quite challenging for them to make ends to meet and acquire luxury items. Those who are wealthy, on the other hand, can not only meet their fundamental necessities but also buy themselves luxuries that will make them happy. This gap between the wealthy and the poor may cause tension and disagreements in society.
In conclusion, consumers are increasingly likely to purchase things from well-
known brands since they are high-quality and enable them to display their wealth.
But I contend that doing so would gravely undermine the security and stability of