Why do you purchase one item over another? Certain factors influence why consumers make purchases. These factors include the price of the item, the price of alternatives, the quality of the item, the consumer expectations of the item, and the popularity of the item with other consumers. The influence of these factors can determine which product you buy and how much you are willing to pay for it.
Let's say you have a cold that you just can't shake. You know the kind - hacking cough, permanently stuffed nose, and just generally feeling like a big pile of mush. Standing in front of the medication aisle at the store, you're overwhelmed by choice. Do you want daytime or nighttime? Capsules or liquid? Brand name or generic? There are a multitude of factors influencing our purchases when it comes to medicine, and if you know what they are, it'll save you a lot of wasted dollars and time and might help you to feel better that much quicker.
Be real, like most things in life, it's all about those dollar, dollar bills, y'all. Before you even walk into the pharmacy, decide on a price range for the desired product. Brand name items are often considerably more expensive than generic ones, and usually contain exactly the same amounts of effective ingredients. Be aware that you may pay more for a small amount of medication at a 24-hour convenient store than you would for a bulk package at a warehouse club store. Taking a few minutes to price shop and do basic product research could yield a distinct advantage in cost savings.
Different medicines claim to address different issues. For example, most medications are careful to avoid claiming to cure any particular condition, rather they attempt to ease symptoms. A decongestant doesn't make you healthy again, but it does try to relieve the pressure in your sinuses. Some products are designed to aid sleep when you're ill and some are non-drowsy for the daytime hours. There are medicines designed for when you just begin to feel unwell, almost as a preventative measure, and others for dealing with symptoms so you can go about your life without feeling too awful.
It's hard to judge the quality of an over-the-counter medicine without having taken it previously. When choosing a product based on quality, consider name brands with the same effective ingredients as generic choices. Higher price does not always mean higher quality. At the same time, an inexpensive product is not a bargain if it fails to work.
Like most things in life, if it's too good to be true, it usually is. Be wary of products with outrageous claims. Make sure to factor in the cost, usage, and quality of the product. Hopefully, you're feeling well now, but the next time you're sick, you'll be ready to make informed decisions as a responsible consumer.
Question
How much influence does the price of a generic-brand item have on the purchase of a brand-name item?
It can influence the purchase considerably. If the price is significantly cheaper and the quality is relatively the same, consumers will easily purchase the generic instead of the brand name.