In the train scene from the James Bond movie Casino Royale, Vesper comments on Bond’s watch and asks “Rolex?” To which Bond responds “No, Omega”. What is the point of Omega’s not so subtle product placement? Affiliation. If the buyer simply needs to tell time, there are many quality watches from which to choose. But Omega understands their value proposition differently. Their buyer is looking for a watch to do more than simply tell time. They are looking for a means of conveying both status and psychic affiliation. Bond is portrayed as elegant, masculine, and resourceful. By indirect affiliation, the Omega watch buyer is attempting to convey the same about themself.
Omega offers numerous distinct watch styles in four collections. Some are very stylish. Some are…not. Yet, each is by association an “Omega”. No different than the weary American seeking gastronomical refuge in a Shanghai McDonalds, the Omega buyer is guaranteed, no matter their preferred style, a quality made watch that will convey a predictable signal concerning social standing.
So, does branding create value as we’ve come to understand it? Yes. In this case, by clearly understanding and predictably meeting the Omega customer’s psychic needs. Humans evolved to be social creatures. Our need for social status is no less real than our need for food, shelter, or love. By building a story around their brand, or perhaps a brand around a story, Omega has substantially increased the value of an already very good watch for their target market.