8 Ways Competition Improves Your Life
5. Generic Brands
From cereal to mattresses, the generic brand has delivered customers affordable options and ruined big corporation’s dreams of market primacy. While some cheaper generics can rightly be called knock-offs, in many markets companies offer generic brands to big ticket consumer items that truly rival the original. Nowhere is this more evident, and more beneficial to consumers, than in the over the counter drug industry. Mucinex, a wonder drug for cold and cough symptoms, can run over $35 a package. Have no fear, almost every drug store chain and super market with a pharmacy has designed their own version of Mucinex with the exact same ingredients. The same is true for any major over the counter drug; consumers can find more affordable generics which perform the same way and treat the same symptoms.
