Tough on the pocket but good on the soul
As a consumer do you prefer a brand name or a generic name? Do you shop at Wal-Mart or Save a Lot? The business world has multitudes of options to choose from depending on how much you want to spend. If you cannot afford a brand name product then you will more than likely go with the generic. Not only does price affect the decision of buying the generic or name brand but some people believe that quality is everything. In these hard times we have to be smarter about the products we choose to use because money is scarce and the average dollar don’t stretch like it used to.
The brand name products are always more expensive because in the business world companies spend more money on research and development, as well as advertising. Have you ever seen the bright, bold and colorful labels on the boxes? Business companies try to draw the consumer’s attention on the advertisement not the actual products.
Odd shapes or sizes in the product could confuse the consumer into thinking the name brand has more quantity than the generic. When the generic could possibly have the same amount and could be cheaper.
When the consumer buys a product that is more expensive they tend to feel secure with the fact that the product is name brand than to spend less money on the generic brand and still get the same product. For instance, the “active ingredient” in Advil is ibuprofen. The generic also has to have an efficacy rate similar to that of name brand, usually within a twenty percent range. All this means is that if you have a headache and want ibuprofen you can get the store brand, such as equates from Wal-Mart, at a cheaper price than Advil and they work essentially the same. After ten consumers were asked if they would go with Advil or Ibuprofen seven of them said they would go with ibuprofen because it is cheaper. A brand name tends