$4 by end of year?, page-64

I believe the power of branding is not to be underestimated. ABB has established quite a reputation for itself for its reliability, speed and customer service. I only invested in it at IPO because I am an existing customer and I couldn't be happier. I could get the same bundles elsewhere for $20 cheaper but wouldn't even think about it. Having gone through bad services/providers, many people like myself wouldn't mind paying a bit of premium for a good product. This is exactly what Apple has - good warranty program to back its products, well trained customer service reps etc etc. One could argue that there are plenty of phones and computers out there with better specs, better built and at cheaper prices but Apple supporters wouldn't even consider them.

I remember some members in this forum mentioned that they work in IT and ABB have become the industry favourite due to the attributes noted above.

The same logic can be applied to wines, leather goods, restaurants etc etc. Why pay $25 for a burger in a good restaurant/bar when you can get a big mac for $6? It's all about the experience.