Shivakumar: Rich people buy brands for vanity; poor people for security
Shiv Shivakumar · How to Think Like a CEO & Build Like a Fighter | Shiv Shivakumar, Ex-CEO Nokia & Pepsico · Oct 28, 2025 · at 14:03
Shiv Shivakumar, former CEO of Nokia and PepsiCo India, shares a consumer behavioral heuristic explaining why different income groups purchase branded products.
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“So I always say rich people buy brands for vanity to show off. Poor people buy brands for security.”
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