This can be explained by "Cognitive Dissonance" theory...
As some have already said, it is to do with identity and acceptance by the peer group. The theory goes that, as social animules, we all want to "belong" and be accepted by our peers. So we try to do what will get us accepted. It also explains why people with one product will try to talk everyone else into buying the same - then they feel as thought they are an accepted part of the group...simple really innit?
Funny what you remember forty years on...
. “No pleasure is worth giving up for two more years in a rest home.” Kingsley Amis
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