Branding matters
A brand name provides the opportunity to incentivise future business based on positive experiences and discourage future engagement due to negative experiences. Therefore, individuals who prioritise the long-term success of their business will strive to fulfil their promises when those promises are associated with a brand. I think brands play a vital role in the functioning of consumer capitalism as they serve as the fundamental units of choice, a point that is often underestimated. Brands contribute to the improvement of products, and the absence of brands can result in the collapse of markets since individuals struggle to make confident decisions without them.