WHAT FOLLOWS is a thought experiment, although versions have been tried in real life many times and in many contexts, from marketing research to behavioral psychology. The question: How does automotive branding affect initial perceptions of value? Take any premium import sedan, like a BMW 3 Series, and disguise it: Cover up the badging, the emblems, the grille, and rename it some over-the-top, aspirational-sounding brand—like “Genesis.”
If you put 100 people in the driver’s seat, what would they see? Would they want it more,...