Why would a consumer be willing to pay extra for a name brand product?

A consumer who pays a high price for a brand-name product is paying for the assurance of increased quality. When a company performs poorly, the brand-name, market-enforced sanction it faces is usually much greater than any court-enforced legal sanction it might face.

What is the significance of name brands to retailers?

They buy food hoping for a quality taste or nutritional value. Recognized brand names typically have shown a consistency in product quality that has contributed to the evolution of the brand. Often, consumers rely on prior experiences or public word-of-mouth when selecting brands.

What are off brand products?

What Is a Generic Brand?

• A generic brand is a consumer product without a widely recognized name or logo because it typically isn’t advertised.
• Generic brands are known for their very basic packaging and labels, and lower prices.

Why do you think companies use the same brand name for many different products?

Companies sell multiple product lines under their various brand names, seeking to distinguish them from each other for better usability for consumers.

Is there a difference between store brands and name brands?

The only difference between the store brand and the major brands is price and packaging. SPICES: essentially, these are the same products whether you buy the name brand or the store brand. MILK: unless you are buying organic milk, the store brand milk is often right from the same dairy you recognize.

What is the difference between a name brand and a generic brand item?

While brand name drug refers to the name giving by the producing company, generic drug refers to a drug produced after the active ingredient of the brand name drug. Generic drugs will, however, be sold under different brand names, but will contain the same active ingredients as the brand-name drug.

What is a brand name product?

countable noun. A brand-name product is one which is made by a well-known manufacturer and has the manufacturer’s label on it. [business] In buying footwear, 66\% prefer brand-name products.

What is the difference between name brand and generic food products?

A can of soda might just be labeled “Cola.” A generic food product might be of lesser quality to a store or name brand, but it might not. In fact, in some cases a generic products might be equal to anything else you might buy. And a generic might be a great way to save money if you are using the item as an ingredient in a home-made food item.

What is the difference between a brand name and company name?

A brand name distinguishes the products of one company from the products of another company. Sometimes, a brand name and the company name can overlap in case of famous brands like Sony, Nike or Shell, when the company realizes that one name is suitable to be the identity of all its products. Brand names are highly flexible.

Are there any food brands that go by more than one name?

Here are some food brands that go by more than one name across the country. Hellmann’s and Best Foods share a recipe. Their packaging is super similar. West Coasters will be most familiar with Best Foods, while East Coasters know their mayonnaise of choice as Hellmann’s.

Why don’t major food companies sell their own store brands?

For obvious reasons major food companies that sell their own brands don’t like to publicize the fact that they produce store brands for major retailers. They’re trying to sell their own products – usually for more money – and don’t want to essentially compete with themselves, even though producing store brands is a very lucrative sideline.