English 2 Professor Raffy I.

Santos

Ferrer, Jeshua Angela December 19, 2013

Filipinos should consider generic products more, because it allows investments, requires the same quality of the branded products, and allow the people to be reached in different products. In other words, they shouldnt easily trust in branded products, just because they are admired by many people, but instead, look into a different perspective and dont immediately depend upon being trendy. For example, consumers nowadays tend to believe that the higher the price of a certain product, the higher the quality it would be. (Tuttle, 2012) Firstly, store-brands have been beneficial, for the reason of advertisements and promotions of the media, than those of national brands; accordingly, major chains have been placing their support and effort into putting generics to the marketplace. As an illustration, women are most likely glancing through store brands. As Ive mentioned a while ago, the reason behind this is because of the popularity that the media has contributed. However, even though there are downsides to generic drugs, the main advantage is to save money. According to Brian Sharoff, Prices may differ from market to market, but the funds that customers will achieve follow the equal pattern across the country. In this case, buying generic soda instead of the popular ones, like Coca Cola, or Pepsi, can save you between 50% and 60%. As well as ice cream brands, such as Magnum; you would rather spend your 50 having 2-3 ice creams. In addition, online shoppers can gain from store brands as well, because other online shopping sites are cheaper than store brands. (Chang, 2009) Secondly, consumers have also gotten a hint that many generic store-brand foods are actually manufactured by the same companies that create the higher-priced brand name, also the foods having the same factories, with the same ingredients inside and everything, with the only difference being the label. For example, with clothing, usually unbranded products that arent advertised have the same quality as the branded ones. And according to research, 77% of all customers report that most shoppers reach out both branded and unbranded products before buying. (Tuttle, 2012) Although majority of the consumers are brand conscious, on the other hand, fewer clients presume brand names means far above the ground; which limits their advantages. Because there will be pressure among the companies of whom the consumers are expecting

them to be successful. Resulting to this, the manufacturers will have a hard time coping up to their audience if they fail in their expectations among them. (Conjecture Corporation, 2013) And lastly, when it comes to generic drugs in the Philippines, it is more expensive than those in other countries of Asia and of the same economic status. But, brand names in our country have been found to be 5 to 30 times more expensive than unbranded names of same manufacturers in India and Pakistan. The disadvantage of this is the trend is not improving; in fact, it is worsening. Therefore, affordability of drugs stays a serious problem among the consumers. As a result, people who are unemployed and indigent will be having a hard time providing income in order to buy branded drugs. (Picazo, 2012) Research shows that generics work just as well as brand name drugs. A data evaluated the results of 30 published clinical traits that compared generic heart drug to brand name counterparts, but there was no proof that brand names worked better than generic drugs. Additionally, generic companies are able to sell their products for lower prices, yet they create competition in the market place, because generally, they do not pay for costly advertising, marketing, and promotion. In conclusion, Filipinos should regard generic products more, for the reason that it allows savings, requires the same quality of the branded products, and allow the people to be reached in different yield. Because when they consider these, it would be an eye opener and would be a great help in their finances and responsibilities.