Daffodil International University
Faculties and Departments => Business & Entrepreneurship => Business Administration => Topic started by: munna99185 on April 04, 2014, 12:58:50 PM
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A type of consumer product that lacks a widely recognized name or logo because it typically isn't advertised. Generic brands are usually less expensive than brand-name products due to the lack of promotions, which can inflate the cost of a good or service. Generic brands are designed to be substitutes for more expensive brand-name goods. Generic brands are known for their trimmed-down packaging, and often plain labels. For example, a supermarket may offer its own generic product next to a name-brand product in the hope that a cost-conscious customer will select the cheaper substitute. Generic brands have grown in popularity in recent years, and many retailers now offer in-house generic products to customers. [Source:http://www.investopedia.com]
Sayed Farrukh Ahmed
Assistant Professor
Faculty of Business & Economics
Daffodil International University
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Generic brand although lacks widely recognized name or logo but it can capture the market of branded product because of less expensive nature. Customers seek low price with reasonable quality. In that case, generic brand sometimes stands as strong competitor in the market.
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Good post .
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customer always wants to give the more emphasis on price and quality.