Issues With Generic Brands
Consumer perceptions about generic brands differ widely. While purchasing generic drugs, there may be a perceived risk of the effectiveness and safety of the drug.
A generic brand skin care product may also have a consumer unsure about its ‘health and safety’ quotient. This implies that there are certain product categories more aligned to generic brands. Examples include over the counter medications, cereal and gasoline among others.
Some generic products may try to leverage their already existing cost advantage (due to lack of promotional effort) further by using inferior ingredients for production. This can damage the reputation and lead to customers avoiding future purchase. Prevalence of such acts necessitates the customer crosschecking the crimp for list of ingredients and verifying that it is comparable to a name-brand.
Since customers may be unwilling to expend to extra effort required for price comparison or ingredient list matching, it is a good idea to buy generic brands for products with fewer ingredients. Eggs, fruits and vegetables are an easy choice.
Due to cultivation of a name brand mindset, customers might believe that a name branded product (say, cereal) tastes better than a generic one. In many cases, this may not be true. Misconceptions can be clarified by a blind test or by storing the product in clear glass containers.
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