Tonight while Jason and I were grocery shopping we realized how much of our basket is filled with the ‘No Name‘ brand. The prices are definitely cheaper but does that mean the quality is cheaper as well? In the battle of the generic brand vs. brand names I really think that generic wins! I mean, it seems like we are getting the same product but with generic packaging!
My question is WHY would you pay more for something just for the name? If it was a designer purse I might understand it… but if it is pasta?? Why not save the money and buy No Name Brand and then save up for other things… like a Gucci purse even!
On that note… I’m going to look at the Gucci website…. maybe if I buy enough ‘No Name’ brand products I could end up with a purse 🙂
Nadia
Check out this blog by Dan Ariely, a behavioral economist at MIT. He discusses issues such as this, why we are predictably irrational. We tend to attach value to something based on how much it costs. With proof from extensive studies, he shows that price determines value (not vice versa). If we spend the extra few dollars and get brand names, our brains will tell us that the food tastes better.
http://www.predictablyirrational.com/ (the book by the same name is phenomenal, very similar to Freakonomics)
I agree with you Nadia, saving a few $$ is always a good thing! I often fill my basket with no name brands as well… I believe it Joey, that our brains tells us something tastes good just cause we paid more for it or because it's a brand name. Here is some info you might like….Often (not sure if it's always) brand names are the ones to make the no-names. So chances are you're buying good quality food for less… An easy way to find out which brand name is making the no name is to simply call the company and ask, they are usually glad to answer that question! Happy cooking everyone.
so i have to make a comment about the name brand/gucci thing…aren't you making your first point about no name brands being just as good as name brands, but then contradicting it with the gucci bag point?! meaning, should it matter what the name on the bag is, as long as its a nice bag?
reminds me of a story…it was early on in a relationship and i met up with her in new york (she was from new jersey and i was living in boston). we were going up an escalator and she saw me looking at her shoes. the exchange went like this:
her: you like my shoes?!
me: um, not really actually.
her: but they're Gucci!
me: but they're ugly!
surprisingly that relationship lasted beyond the next 5 minutes…anyway, i just wanted to weigh in on your post! enjoy that Gucci purse!
-phil
http://www.philayoub.com/