What is generic product
Answers
Answer:
Explanation:
A good that is sold using the name for the type of good that it is, rather than a brand name. A generic product is typically not heavily marketed and competes with other brand name products largely on a price basis. Packaged food and drugs are commonly offered to shoppers as generic products.
A generic product is something that is sold on the name of the product i.e. what it actually is, rather than having a brand name. Such products generally have the name of the local shop which is selling the product or a lesser known name, but sometimes they don't have any brand name on them. Generic Competition.
Generic goods are products that are named only by their basic product type, and not an individual brand. ... For example, generic soft drinks, which say “Cola” instead of having a brand name like Coke or Pepsi, are usually less expensive