Generic

Generic refers to all products that do not have have a brand name, or are not protected by a trademark.

Generic products are usually manufactured by smaller companies and then sold to retailers (i.e. supermarkets and drugstores) which then sell the same products under their own brand names.

Another distinct feature of generic products is that they are usually much cheaper than “branded” products.

This is because it takes a lot of money to get a product’s brand to become a household name. For example Coca Cola, Nike, and Microsoft only became household names after spending millions in advertising. To offset the cost, companies making these products will need to charge more than those selling generic products. These branded products will naturally sell more. People are more familiar with the brands and so trust the branded product more than the generic one.

In terms of quality, generic may be of the same or even better quality than a branded product. Many people don’t realize this because they never give the generic product a chance. People are changing their perception on generic products more and more though, especially when it comes to medicines.

Comments
Leave a response

Leave a Response