Give Thanks for Brand Names

On this Black Friday, like every other Black Friday before it, shoppers look forward to the best deals. Everyone wants the most they can get for the least they have to pay. Sure Thanksgiving was only a day before, but once the clock strikes midnight, all thoughts of Thanksgiving have left and the pressure of buying Christmas gifts have set in full-force. Black Friday is a day of ultimate competition between brands with similar target markets. Businesses want people to buy products simply because for today they can afford it, not because they necessarily need it. There is a balance that every business and shopper alike struggle with. This is the balance between quality, quantity, and price of a product. Black Friday is the day that no one has to struggle so much with this balance. Today marks a delicate exposure of brands and how low they are willing to go price-wise to beat out the competition but still make a hefty profit.

It might pain a business to hang up those 50% off signs, but they must remember it is only for one day and in this one day, they know they will have more business than possibly any other time of the year. So why is it that while other stores are giving promos for additional percentages off purchases and knocking prices left and right while brands like Apple are “pushing it” to give $61 off a $600 product? This is what happens when your brand name is seemingly more valuable than the products themselves. Sure you can go to Best Buy and purchase a knock-off iPad for a quarter of the price, but when Black Friday is over, you are going to be wishing you had the apple logo on the back of the tablet. For the thrifty buyers whose ranking from most to least important is price, quantity, and quality, the fact that Apple does not subject themselves to sales and price slashing means that they will not be purchasing Apple products. However, if you have developed a brand loyalty for a certain brand name and you know whether that product is on sale or not you are going to buy that product, then Black Friday is exciting for you even if the sale is next-to-nothing. At the end of the day, you wind up $61 richer than you would have been.

-Claire Dillard, Liz LaPuasa