Kendra brings up some good points of branding. There are so many brands out there today, but what makes some of them so much more successful than the rest. Kendra brings up McDonald's which is one of the most popular brands not only in the United States, but in the world. How did they get so popular over the years? Was it their marketing schemes, how they pretty much invented fast food, or something else. I agree with Kendra that people are purchasing generic brands to save money, I know I have in the past. The example Kendra brought up was Walmart's generic brand Great Value which is a good example. I have bought great value products at Walmart because they were cheaper and honestly tasted the same as the more profound brand. To answer Kendra's questions, I am not sure if generic brands will become more popular than brand names because of the economy. It's hard to say because yeah generic brands are cheaper, but the more popular brand names market so much and people are loyal to those brand names because they are overall just better than the generic ones. Once a consumer has been buying the same brand's product for awhile and hasn't had problems with it, they are going to become loyal because why change to something else when the brand and product you continue to buy has proven it is a good product. I don't think popular brand names have the right to mark up their prices just because it is a brand name compared to generic, but they can because people have shown they will buy it and why not make more of a profit.
What is the main reason people are loyal to brands?
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