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Generic products play an important
role in the economy and to some extend stabilizes markets. These off-brands
products and mostly consumer geared products offer the economical substitute
for utilities derived from the brand names. The product has no composition
difference from branded products, since before they are allowed to sell,
manufacturers of these products have to meet all regulations just as brand
manufacturers. This makes generic consumer products of equal quality to branded
products, and subsequently their market is well received by consumers. Generic
products are generally more popular in recessionary times, when consumers'
purchasing power is lower.
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Nov 29th, 2015
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