If you see no distinction in product, you choose not based on brand, but on price

If Nike-owned open the hotel, I think we would be able to guess pretty accurately what it would be like. I Hyatt came out with sneakers; we’d have no clue.

Because Hyatt doesn't have a brand, they have a logo. If I swapped the signs on a hotel at that price point, you could not tell; if you were at a Hyatt, at were at a Hilton, at a Marriott, the hallway, the room. I don't know where I am.

No brand.

So, what it means to have a brand? Is you’ve made a promise to people, they have expectations, it’s shorthand [ed. an abbreviated symbolic writing method that increases speed and brevity of writing as compared to longhand]- “what should I expect the next?”. And if that is distinct, you’ve earned something if it's not distinct [then it is] sorted by price.