… is from page 389 of the late, great UCLA economists Armen Alchian’s and William R. Allen’s Universal Economics (2018; Jerry L. Jordan, ed.); this volume is an updated version of Alchian’s and Allen’s magnificent and pioneering earlier textbook, University Economics:
Your reputation is the public’s belief about your expected future behavior. A firm’s good reputation can be a powerful enforcer of its own reliable behavior, lest it lose future earnings. A seller’s good reputation is valuable also to potential customers because it reduces shoppers’ costs of identifying reliable sellers.
Keep this simple but important fact in mind when you next encounter someone asserting that brand names are a capitalist plot to enrich firms at the expense of consumers.