Generics are a type of product that lacks a widely recognised name and is sold using the name of the type of good. Typically generics are sold mainly on price, with little advertising and often with reduced packaging, simpler labelling and reduced support and guarantees. The appeal is to the cost conscious purchaser offering very similar or identical technical benefits.
Generic are visible in all areas of life from supermarket consumer choices we make everyday to car components that we never see to drugs that we rely on to save lives.
In a post-modern globalised world many sectors are experiencing increasing generic pressure.
The challenge for the brand marketeer is how to balance the response to generics without engaging in a price race to the bottom in which the only winner is the bemused but grateful user.
Very often there are other powerful value levers that the marketeer can pull rather than absolute price, and often consumers/users are also sensitive to factors that increase confidence rather than price alone.
Research Engine can model the relative impact of price vs other levers, such as guarantees, information, support structures, reputation in your sector so that you can make better decisions about how much margin to give away tactically, and how much margin to divert into building strategic equity.
If you cannot find an off-the-shelf product solution to meet your requirements we offer two great additional solutions:
- CUSTOMISE OUR EXISTING PRODUCTS We are happy to take our standard products and customise them to your precise requirements (e.g. by adding extra questions or changing questions). This can be a very fast and cost-efficient way for clients to reach a perfect solution.
- COMMISSION A CUSTOM PROJECT We frequently carry out a wide range of custom research projects for clients – so whatever your needs please ask us.
In either case please either use the “Custom Research” option in the footer of this page OR email Chris or Mike directly with your questions: