When given people are given the choice to buy a brand name product or a lower priced "no-name"/generic product, they often prefer brand name products. They are not very concerned about how much they spend for Nike sportswear, Poma Shoes and Oshkosh children's clothing. But when it comes to cheaper no-name products they look down upon them and consider them unusable. So many generic products end up on the clearance or reduction shelves. Why do people think brand names are so much better than…