Do you always buy the brand name product? Why? Are you willing to substitute lower price generic products?
I buy as much generic products as I possibly can . Anywhere I can save money, I will. With a lot of products, there is no logic in buying something that’s essentially the same, but costs more money. I will admit that there are some things however, that I will pay the extra money for and get the name brand. Some examples being mayonnaise (Hellman’s), ketchup & mustard (Heinz), Face wash (Noxema), Oreos. Those are just a few random things that I prefer the name brand versus the generic. I feel as though majority of people have a similar mindset as me- Save money wherever possible with a few exceptions. And, regardless of cost, there are some food products that I actually prefer the taste of the generic than the name brand. Also, when it comes to over-the-counter drugs, such as tylenol, sleep-aids, etc. I really see no difference. High quality is only a good thing if it is worth the cost. Depending on the item, consumers generally prefer products that the producers didn’t spend as much money on, so that they can get it at a lower cost (Krugman Pg. 140). For example, if you’re talking in terms or cookies, or a shovel, or a lotion, etc., consumers more often than not will buy the generic brand since the items are not of significant importance. On the other hand, if you’re talking about a car, or a snow-blower, or something that you have to invest a lot of money in either way, you would typically buy something of better quality, which comes with a higher price.
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