Dennis+Brookner+RP+Post+5

One major thing that I have learned is that when people pay extra for a brand, they usually believe they are paying for higher quality. There are several possibilities as to what may actually be occurring:

1. The product is of higher quality, and the consumer is paying extra with the knowledge that they are indeed receiving higher quality. 2. The product is of higher quality, but the reason for purchase is a mix of quality and brand "coolness." 3. The product is of higher quality, but the reason for purchase is entirely brand "coolness." 4. The product is not of higher quality, and the reason for purchase is perceived higher quality. 5, The product is not of higher quality, and the reason for purchase is brand "coolness."

One thing I need to decide is whether to delve briefly into the discussion of several brands or whether to pick one product (my choice will likely be Nike Elites) and study it in an extremely in-depth manner. I am leaning toward the latter, especially since the former lends itself to an extremely long paper.

I am also toying with the idea of a multi-genre paper, with soe aspects of a personal narrative or even stream-of-consciousness, or perhaps in-role writing as the socks themselves.

A summary of some things that I have learned
 * Nike believes firmly that Elites are of extremely high quality, and that they deserve their fame because they are comfortable and high-performing.
 * You would think that no quality could justify the cost.
 * One implication of Nike's treatment is the thought that the socks are extremely high quality.
 * The socks got their start when they were offered to the US Men's Basketball Team. The players raved about them, and they soon broke into the commercial market. What intrigues me about this is that those players liked the socks //without// any brand history. They had to base their decision purely on quality. (Disclaimer: they had already heard of Nike, of course, and likely had a predisposition about the quality of Nike products--it was only the specific product that was new).
 * The NY Times article, however, says that the surge in popularity didn't happen until several years after the socks hit the market, suggesting that the pro players did not have an effect on sales.
 * Just a data point: Nike Elites cost about $15 dollars for //one// pair, in contrast with a basic sock that may cost $15 for a four- or six- pack. Variations, such as Hyper Elites, cost more.
 * A scan of a message board offers several main opinions, all of which seem to be held by many people
 * The socks are high quality, and I wear them because they are worth the price. (extra padding, my feet don't sweat as much, etc.)
 * The socks may be high quality, but there's no way I'm spending $15 on socks.
 * What's the big deal? Socks are socks!
 * In my quick glance, no one mentioned anything about the socks being cool.
 * Matt Lieberman believes that "You're buying the brand. That's all it is."
 * There is a market of people buying, specializing, and reselling Elite socks. Those in this industry say there is no market for socks of this type that are not Elites.
 * Elites were the first socks to have specific left and right socks. I'm mixed on this. On the one hand, every other sock in the world seemed to do just fine without. On the other hand, a foot isn't symmetrical--actually, it's far from it. It makes sense that a sock could become more comfortable with specific left and right fit. At some point, I should try on a pair on the wrong feet and see how it feels.
 * A scholarly analysis of brand recognition pointed out that a a key factor in brand strength is a loyal fan base. The result of this is that the popular brand has extra time to respond to innovations from competitors before it starts to lose market share. There would be some period of time during which consumers would still pick the now-inferior popular brand over the now-superior weak brand. During that time, the popular brand has time to match the innovation, and in this way, an assertive brand with a loyal consumer base has a good shot at maintaining its market share.
 * In other words, the scholar believes that Nike will be able to hold its market share and popularity regardless of challenges from other brands.
 * An observation: I've never seen a Nike Elite ad on TV. (Maybe I've just missed them, or I don't watch the right shows--if anyone is reading this and has seen one, let me know in the comments). This suggests to me that Elites to their advertising all on their own, especially thanks to the extremely recognizable pattern on the back of every pair.
 * My own personal data point: I own three pairs, one pair of regular Elites and two pairs of Hyper Elites. One was a gift, and the other two were bought at my request by my Grandma, who loves to spoil me, I mention this because it meant for me that cost was not a factor in my decision making. I feel both that they are extremely cool and that they are surprising comfortable. I feel a tad shallow for liking them so much, and I'm glad I recognize that part of the appeal i superficial. Maybe I'm trying to compensate in jock cred for my lack of genuine athleticism. In any event, they're a high-quality product line, and I think it's tough to deny that once you've worn them.