Overview

That's not why you bought the Rolex. According to Rolex, their new Oyster Perpetual 41 watch offers fundamental gains in precision and resistance to shocks and magnetic fields. It has a 70 hour power reserve and is waterproof as deep as 100 metres. Well that certainly explains why it sells for $5,990.00 and up. But if it's all about product performance, then how do we account for the counterfeit versions that line the streets of Chinatown along with designer bags, sunglasses and now - sneakers? The answer is that all purchase decisions are emotional. So if you did buy a Rolex, although you might not even realize it, you probably didn't buy it for its calibre 3230 movement. It's far more likely that you bought it to either feel better about yourself or to impress others. It's what humans do.

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PJ Lehrer is an Assistant Professor at NYU. Prior to moving into academia, PJ spent 20+ years working in marketing, primarily at global advertising agencies, including McCann-Erickson and Grey, on premier businesses including AT&T, L'Oreal and Kraft/GF.

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