Generic Buy versus Brand Buy
There is a continuous discussion, why to buy generic products. The reason is simple. Because generic buy products are cheaper.
Historically speaking first comes the innovator. He brings on the market the invention and he seeks out to transform it in a hit. However, 99% of inventions are not successful. If, by any chance, the product is turning into a hit, there is a race between the inventor and the follower.
A very wise business strategy is for most of the businesses to sit tight, do not innovate but be very careful what others are doing. These businesses are focused on generic buys. So, they just wait to see who has success. Immediately, if the inventor did not succeed in patenting the invention, they will. Or, if this innovation is patented, they will try to find out similar products that will cover the same need. So, they use the PR generated by the first launch and they will provide to now the educated buying public a cheaper and more easy to choose version. Copy-cat ?
The reason to start selling the generic buys immediately after they know for sure that yhe invention is a hit is that they do not loose profit. Usual, a patent it takes for about 10 years, when the owner of the patent can skim the market. After 10 years, maybe the brand it will be too strong and too expensive to fight against it. But, if you launch you generic buy after 1 year or less, you will make a great profit.
There is a saying, in the industry. That if you want to have success, you need to sell standardized products, that are high in demand, 50% cheaper and 50% more qualitative, and in the same way inspiring trust
It makes perfect sense to buy generic products. For branded products, you pay a lot of premium. Generic Buys are commodities. Sugar, jeans, clothes, carpets, bricks, jewels, drugs, pills, furniture. Why should you pay extra, when you have the generic alternative?
Also, I must make another comment regarding the difference generic products
and counterfeit products. Sometimes there is an overlapping between the
two categories. However, you should be aware that generic buys, in the
true sense of the word, has no original branding, best case scenario,
a branding of its own. For example, Viagra has an active substance that
is called Sildefil Citrate. Also, generic Viagra has various names: Magara
Pfigra Seagra. All these are generic buys, alternative of the original.
