Generic Brand


DEFINITION of 'Generic Brand'

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.

BREAKING DOWN 'Generic Brand'

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.

  1. Brand

    A distinguishing symbol, mark, logo, name, word, sentence or ...
  2. Substitute

    A product or service that a consumer sees as comparable. If prices ...
  3. Product Differentiation

    A marketing process that showcases the differences between products. ...
  4. Marketing

    The activities of a company associated with buying and selling ...
  5. Brand Awareness

    The likelihood that consumers recognize the existence and availability ...
  6. Brand Identity

    Brand identity is the way a business wants consumers to perceive ...
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