BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -There is no company logo or brand name mentioned on the product or the packaging. Now, consumers know these brands by their specifications and ingredients rather than the brand name. These are the main reasons why the price of the product is extremely cheaper than branded products.

Detailed explanation-2: -Generic medicines tend to cost less than their brand-name counterparts because they do not have to repeat animal and clinical (human) studies that were required of the brand-name medicines to demonstrate safety and effectiveness.

Detailed explanation-3: -Generic medications typically cost less for two reasons. First, when companies produce the same product, they compete through cost. In fact, when multiple companies market the same drug, the competition results in generic drugs costing about 85 percent less than name brand versions.

Detailed explanation-4: -While brand name drug refers to the name giving by the producing company, generic drug refers to a drug produced after the active ingredient of the brand name drug. Generic drugs will, however, be sold under different brand names, but will contain the same active ingredients as the brand-name drug.

Detailed explanation-5: -The primary benefit of purchasing generic brands instead of name brands is saving money. Except for a few isolated cases, they usually are significantly cheaper than name brands. The packaging may not be as colorful as a name-brand product, but most people do not mind this difference when it means saving a few dollars.