2 Reasons Consumers Can't Help But Waste Money On Brand-Name Drugs - 4 views
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meganbos on 21 Oct 13This article talks about the tendency for consumers to buy name brand drugs. It references the similarities between generic and name brand products, and about how people "believe" in the name brand products and do not trust the generic branded drugs despite the fact that they have exactly the same ingredients in them. In terms of product this article stresses the importance of a brand name and brand image in the consumer's eye. It highlights the fact that consumers are more likely to purchase products that they trust simply because of a logo or a name, even if the product costs substantially more. The article draws the point of how consumers first believe and then are conditioned to only buy name brand products. It brings to light that consumers need to consider the price quality perception and recognize that they are paying much more for exactly the same product.
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Thomas Holmes on 24 Oct 13Having dealt with migraines most of my life I was always used to grabbing Excedrin when I was at home because that is what my Dad kept around for his migraines. After coming to college and really being budgeted I found myself trying the off brand migraine relief medicines. I was hesitant but when it came down to it I found comparable relief with each and now get to enjoy the extra few dollars in my pocket. I think a lot of it was that I just grew up with a certain brand in the house so I think it matters what your parents buy because when it comes to you buying on your own it is often what you remember using. If my Dad had used off brand medications then I am sure I would have just continued that trend right off the bat and not hesitated on getting them.
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Emily Prellwitz on 29 Oct 13This trend shows through with not only brand name drugs vs. generic drugs, but also with just about every kind of consumer product. It shows through with different kinds of food and drinks as well. It is very hard to tell the difference between Diet Sam's Club soda and Diet Coke, however we all tend to go with the brand name Coke product instead. This shows how consumers stick with what they trust even though the other option might be the same.