Examples of minimizing information cost...
~Brand name effect

How can brand name effect help to lowing down the info. cost?

• As no one knows everything about all goods, seeking prepurchase information about their existence, location, ultimate performance or asking prices of different sellers is very costly.
  
• A brand name, with which the reputability of the market is associated, is source of prepurchase information about the qualities of products.
  
• Brand names can help the consumers to identify goods and services of verified, predictable standards of quality.

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