Market Reputation

What ingredients go into the making of reputation?
Generally, when we aim for a good reputation we expect that the perception (of us) is positive. This merely implies that generally, people respond positively to the idea of us.
When a representative from an organisation tells me that they are concerned about their reputation, it would seem quite strange, since it's not a large organisation to begin with, making them a less obvious topic of conversation.
To make this even more confusing, these people think that omitting a buffet spread (on the day of the launch) may affect their reputation. How does food equate with sales, when you're not in the food business?
Sure, bells and whistles will attract attention and attendance - but if your product is not haute-couture and you have priced your item as one - food is not going to cook the books.
Why pay $500 for a hand-carry when there are others going for $50?
It's vanity - label owners go through lengths to get their line recognised in advertising and promotions - and the TOTAL quality in the product warrants the price tag.
BUT when a sweat-shop label tags an item as haute-couture, then they jolly well have some highly priced fabric and workmanship to support the price - otherwise, it is just another sweat-shop reproduction.
Reputation is not about hiding the true value of the item being sold.
It's about consistency in quality.
It's about honesty.
It's about delivery.
It's value for money.
When you have overpriced yourself, then reputation should be your last worry, because either you make the adjustments or the market will determine when your existence expires.