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Generic vs name brand drugs quiz
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While completing my comparison shop form, I found it quite helpful to see how the prices vary with the same item but different brands. Normally when I go grocery shopping I always choose the cheapest price to save money. As I was growing up I was always around people who needed name brand items and I thought I needed to be like them too until I started actually looking and comparing. Shopping comparison can really help a person save money if they are on a budget. It really makes you think about how much items are and if the quality is better or not. Shopping Comparison does take a while to complete. By going to Walmart, finding the items I wanted to compare on their aisles, writing it down, and going to another store is very time consuming. …show more content…
Most people overlook the off brands including: Great Value, Crystal Springs, SE Grocers, and Best Choice are just some of them. Each store has their brand and it is normally cheaper. Comparing the store brands to name brands, people could save $3-5 per item. Toilet paper is a good example for an item that I would not buy for the lowest price. I remembering buying the off brand during high school homecoming for rolling and if I had extras I would use it. I discovered that the off brand toilet paper was like sandpaper because it was so rough. I would buy the cheaper name brand because I cannot tell a difference between Charmin, Angelsoft, Cottonelle or Scott. Those choices are all soft and good quality to me. I have found a $1.00 aisle at Dollar General and I normally buy from that aisle. Most of the items I compared, I can buy the off brand for it because the quality is the same. People do not want to buy the off brand product because they think they are nasty and do not taste the same. I get mouth ulcers a lot so I have to buy a brand that does not have a certain ingredient. Hygiene items I will buy the cheapest because it all does the same job. My mom buys a lot of bottled water, but I do not. I have a container in my fridge with a filter and I fill it up and pour my water in a reusable …show more content…
They do have good sales on certain items though. Prices between these two stores vary because you can look at my form and some items from Winn Dixie are cheaper than Walmart. Toilet paper (Charmin and Angelsoft brands) and cheaper at Walmart than Winn Dixie by a price different of $6. Dasani Bottled water is more expensive at Winn Dixie by $2.00. There are not big price differences, but every dollar counts. The store brands like mentioned earlier are the cheapest items for both stores. I compare Walmart as the best prices if you are buying the bulk of your groceries there. I see Winn Dixie and Vowells being around the same priciest and are normally located somewhere convenient for people to stop
By being constrained to only a certain amount of money made me more cautious about the quantity of products that I was buying and what brand the products were. By budgeting it made me realize that going to big name grocery stores isn’t always the most ideal option, such as Walmart and Meijer tend to be more expensive where Family Fare and Aldi’s are fairly more on the cheaper side when it comes down to prices. I realized that shopping at Family Fare and Aldi’s is more convenient for people to shop at when trying to save money and way more affordable while on a budget. While being constrained it made me find out how much cheaper the off brand products are rather than the name brand ones, which is surprisingly different when the product is basically
One of the benefits from having low prices is that customers tend to migrate to the store that offers the cheaper products. Low prices and happier customers will have a positive impact on ALDI’s sustainability. Competitors that offer substitute goods are a step behind ALDI’s lower prices. However, because other companies such as Wal-Mart and Target, who are large corporations that have their hand in thousands of areas around the country, also sell products that are similar to what ALDI sells, ALDI is still faced with a
Compare your shopping experiences at retailers like Costco, Nordstrom, or Whole Foods with experiences you may have had at Walmart, Sears, or Kroger.
In a world ran by money, Paco Underhill has discovered a way for stores to generate a larger profit. In “The Science of Shopping”, Malcolm Gladwell reports on retail anthropologists to examine their theories they use. Gladwell does this to inform store managers on how to set up their stores to maximize their profits. Paco Underhill has shopping down to a science. Inside American Eagle, Meijer and Hollister his theories of the decompression zone, invariant right, and zoning can be found.
For this assignment, I decided to go to a grocery store by my house named Meijer. Meijer is just like any other grocery store, similar to Wal-Mart, yet higher quality products than Wal-Mart.
In general merchandise retailing, Wal-Mart’s primary competitors are Target and Kmart. Retail superstores such as Circuit City and Bed, Bath, and Beyond, also provide retail competition. A survey found that the majority of respondents favored Wal-Mart over stores like Target and Kmart. Respondents claimed Wal-Mart offered lower prices, better variety and selection, and good quality. The needs of consumers is an important economic feature in all competitive environments. What attributes (price, variety, quality, etc.) prompt buyers to choose one retailer over another is very important in the competitive landscape.
Wal-Mart has two brands of stores, the regular Wal-Mart and the Super Wal-Mart. The difference being that the Super Wal-Mart has a grocery store inside as well as all the other products. Products offered by Wal-Mart vary from automotive needs to Compacts Discs and DVD's. Family's can get households goods for kitchens, bedrooms, or patios. Wal-Mart's offer products for every household need like vacuums, mops, and brooms. Wal-Mart is an example of a one-stop shop; parents can get clothes for the kids or for adults.
By keeping their prices low, Walmart can easily pass that savings on to their customers and in return, their buyers are able to have a higher income and can spend their money on more products, preferably Walmart’s.
Wal-Mart as we know it today evolved from Sam Walton’s goals for great value and great customer service. Mr. Walton’s competitors thought his idea that a successful business could be built around offering lower prices and great service would never work. Mr. Walton also credited the rapid growth of Wal-Mart not just to the low costs that attracted his customers, but also to his associates. He relied on them to give customers the great shopping experience that would keep them coming back. Sam shared his vision for the company with associates in a way that was nearly unheard of in the industry. He made them partners in the success of the company, and firmly believed that this partnership was what made Walmart great.
for your hard earned money. Although Wal Mart and Publix both offer comparable grocery items
Absolute lowest price for an item can be most important for many consumers but not all consumer as it depends on factors such as income distribution and product type.
You can either minimize cost or you can aim for the highest quality of product and customize according to the requirements of the market place. Some products are by their nature standardized. However it is impossible to differentiate the product in the mind of consumer. This tends to put all the emphasis on cost and therefore on prices. There is no point in the consumer paying extra for the same products. However by K-mart and Sears should use strategies like changing the location of stores in a more appealing destination. Both would need development of new name brand products, ones that would be lower cost and a higher quality for customers.
The benefits or competitive advantage Wal-Mart derived over the years from its supply chain management practices is also covered. The reason Wal-Mart is ahead of their competition is because they invest in technology in the 1980s. This investment paid off in the long run. Wal-Mart invested heavily in IT and communication systems to effectively track sales and merchandise inventories in stores across the country. They have set up own satellite communication in 1983. Employees at the stores have the ‘Magic Wand’ at hand. These barcode scanners allow you to check the prices of items at that particular store by scanned the barcode on the product. This is especially helpful when there is clearance that isn 't always marked and sometimes clearance items are cheaper than they
When comparing two different ways of shopping most people do not even think about, they do both and not even realize it. In today?s society people shop while at work, after work and on the weekends, whenever time permits. Did you ever stop and think how can I get more time in the day for family or just myself? The best way to figure out with all the recourses we have; still most of us go into a store and spend time looking through racks and waiting in endless line to just purchase something. I compared going into a store verses online shopping; to see which on will save you time and money.
Every consumer has a unique way of measuring benefits versus costs and will sometimes pay for higher quality items and other times buy the low costs items, depending on which has the highest value to them.