What Are Examples of Generic Brands?
Examples of generic brands include WalMart’s Great Value brand, Kroger, Safeway, Meijer, Publix ice cream, Target and Wegmens. All of these generic brands sell grocery items. Target, Meijer and Walmart also sell many non-grocery products under their generic brands.
Generic brands are consumer products that are not advertised. They are generally less expensive because the brand-name products’ prices are often inflated by the cost of advertising. Generic brands are known for plain packaging and labeling, which also helps keep their costs lower. Oftentimes, supermarkets place their generic brands next to name brand products in an attempt to entice consumers into choosing the less expensive generic product.
Generics are also common in the prescription drug industry. When a new medicine is created, it is given a brand name and a generic name. The brand name is for the product manufactured by the company that developed it, while the generic name is used when the medicine is manufactured by a different drug company. In the United States, new medicines are sold only under the brand name until the pharmaceutical company’s patent expires. At that time, generic drug manufacturers are free to manufacture the drug under the generic name. Since the active ingredients in brand name and generic drugs are required to be the same by law, many consumers opt for the less expensive generic.