Knight’s of Transformation: Why do we buy Brand?

What exactly is the deal with people buying “Brands” like Chanel or, that cost considerably more money than the same thing that is not “the brand” which maybe is the same quality?
Is a $7000 bag really that much different than $100 bag? 
What’s the emotional story behind people who tend to choose expensive brands?

Check out this week’s Knight of Transformation video.

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