Marketplace®

Daily business news and economic stories
Season 7Episode 2Oct 22, 2024

What’s the difference between brand-name items and generics?

Brands are all around us!

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What’s the difference between brand-name items and generics?
Binglin Hu

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“Million Bazillion” listener Kade wants to know why brand-name products cost more than store-brand and generic products. Bridget and Ryan head to a grocery store where they meet a talking can of soup in need of a brand makeover. In this episode, they learn the differences between brand-name products and generics, why we care about brands, and why they’re more expensive.

An illustration includes images of a basketball player holding a soda bottle in a TV ad, goldfish crackers, and a woman selecting cans on a store shelf. The text reads "Brands spend money on marketing to help promote their products. This can include ads, celebrity spokespersons, jingles ... even…
Binglin Hu
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Tips for grownups listening to “Million Bazillion” with kids

Money Talks

After you listen to the episode, here are some questions you can ask your kid listener to see how much they learned about the difference between name brands and generics:

  1. When would you buy a brand-name product over a nonbrand-name product?

  2. Does your family usually buy name brands or generics? Why?

  3. Can you think of any brand names that are so popular, they’ve become common words?

  4. *Bonus* Not-So-Random Question: If “Million Bazillion” made something you could buy, what would it be?

Tip Jar

For listeners who want to keep learning more about name brands and generics, we’ve got ideas!

  • Want to learn more common words that are actually brand names? This list of brands that’ve become household words might surprise you!

  • Go on a scavenger hunt at the grocery store! Spot the name-brand and generic versions of different food items.

  • In the episode, Guy DeGuy dreams up a commercial for Soup Can. Listen to this episode of “Million Bazillion” to learn more about how advertisers persuade us to buy stuff.

  • If you want to dive deeper into why things cost what they cost, check out this episode of “Million Bazillion” about how businesses come up with prices.

Gimme Five

Thanks for listening to this episode! If your young listener has more questions about why certain things are more expensive than others, send them to us using this online form.

This episode is sponsored by Greenlight. Sign up for Greenlight today at greenlight.com/million.

The Team

Thanks to our sponsors

NGPF

The Ranzetta Family Charitable Fund and Next Gen Personal Finance, supports Marketplace’s work to make younger audiences smarter about the economy. Next Gen Personal Finance is a non-profit that believes all students benefit from having a financial education before they cross the stage at high school graduation.

Greenlight

Greenlight is a debit card and money app for kids and teens. Through the Greenlight app, parents can transfer money, automate allowance, manage chores, set flexible spend controls and invest for their kids’ futures (parents can invest on the platform too!) Kids and teens learn to earn, save, spend wisely, give and invest with parental approval. Our mission is to shine a light on the world of money for families and empower parents to raise financially-smart kids. We aim to create a world where every child grows up to be financially healthy and happy. Today, Greenlight serves 5 million+ parents and kids, helping them learn healthy financial habits, collectively save more than $350 million to-date and invest more than $20 million.

Sy Syms Foundation

The Sy Syms Foundation: Partnering with organizations and people working for a better and more just future since 1985.