As years have gone by, materialism has continued to grow and expand worldwide as it seems that people’s appetites for quality goods and name brands may be insatiable. As brand names have gained popularity, the question that must be asked is: what does a brand name add to the ticket price of a product? In order to find answers to that question we are going to conduct a survey where we ask participants how much they are willing to pay for specific, brand name products in comparison with their generic equivalent. We are going to conduct this survey with men and women of both Danish and American heritage in order to also find if there are differences across gender and background. Another element we seek to isolate is how much people pay for a brand name because of the difference in quality and how much people pay for a brand name in order to have the appealing logo. In order to do this, we can poll participants on how much they would pay for brand name Good X with a logo, how much they would pay for brand name Good X with no logo, and finally how much they would pay for the generic equivalent. We plan on including a wide variety of goods in our survey including – but not limited to – clothes, shoes, technology, and food. With our data we hope to find out the influence of brand name appeal, and – to add to that – we also hope to find the difference in brand name appeal for varying genders, cultures, and products. We desire a sample size of 120 (30 American men, 30 American women, 30 Danish men, 30 Danish women) in order to ensure that results are relevant.
We finished this project on November 2013
For details of this project and experiment, please contact me by Email: firstname.lastname@example.org