Instead of analyzing the various options available on the market for B2B solutions, people just go for the 2 or 3 familiar well-known brand names to seek for a solution.
People prefer brands over lesser known companies as brands will:
- Bring them trust
- Limit the time required for reviewing and comparing solutions
- Require less explaining their choice to management
- Have higher pricing and more expensive should be better
- Not get them fired
- Stand out better socially compared to an unknown solution from an unknown company
- Help their future career as a reference
The most suited solution or the solution having the highest Return On Investment is likely not the main driver and requirement in the selection and evaluation of the purchase process. Still within the by known brands limited number of solutions the best solution or the solution with the highest Return On Investment will be selected – which is a sub-optimum.
There are many advantages and reasons for influencers and decision takers to go for a known brand name over an unknown brand name.
People hide behind the brand in order to avoid problems and have less hassle.
Have you ever selected an unknown brand ?