<p>I guess its time to dust off the old "hamburger analogy" once again:</p>
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[quote]
The Difference Between "Prestige" vs. "Familiarity":</p>
<p>I always like bringing this back to my "hamburger" analogy to illuminate this point:</p>
<p>99.9% of the American public will readily recognize (read: familiarity) Micky D's Big Mac or Quarter Pounder (over a billion served!) vs., say, the "21" burger at the 21 Club (New York)... but does that Ronald McDonald more prestigious? Hardly.</p>
<p>Many people know (shop) at Wal-Mart vs. Bergdorf Goodman, but that hardly qualifies Wal-Mart to be categorized as "prestigious".</p>
<p>Simply put, not anyone can afford to shop at Bergdorf or eat at the 21 Club, and conversely, nearly everyone "can" shop at Wal-Mart or eat at McDonald's.</p>
<p>Similarly, not anyone can enroll into Harvard, but nearly anyone can enroll into a Community College - that's what makes Harvard prestigious - and, more importantly, why it remains so (i.e. being founded nearly 150 years before America was even a country certainly has its "head start" advantages in building up your prestige level). For instance, if Harvard all of the sudden decided to increase its class size to 500,000 per year (say, by offering bonafide Harvard degrees online) i.e. admitting nearly anyone who applied - its "prestige" would drop like a stone overnight - people from Joe Blow Community College would just transfer to Harvard and pick up a degree. </p>
<p>This is what happens to certain "luxury" or "prestige" goods all the time - dilution of a brand which gets over-sold, over-licensed or discounted at mainstream department / warehouse stores (read: the Coach brand and even Armani to a certain extent).</p>
<p>Now to be certain, some brands have both "familiarity" AND "prestige" (e.g. Harvard, Yale, Princeton, MIT) and some have "prestige" and less "familiarity" (e.g. Dartmouth, Brown, Caltech, Amherst) - but don't confuse the two terms - less familiarity doesn't = less prestige. Just because your neighbor hasn't heard of Ch</p>