Monday, August 11, 2008

Learnings from Private-Label Groceries - Generic Drugs

Reports surfaced recently that growth from private-label (i.e. store brand) versions of groceries has risen dramatically as the economy has worsened and gas prices have increased. Even though thought to be inferior in quality or perhaps more importantly taste, these days the products are as good or perhaps better than brand names.

"Store brands have come a long way," said Tod Marks, a senior editor at Consumer Reports, which has tested store brands against national brands for quality and customer response. "Over the years, retailers realized that store brands were not just something to be floated out during hard times."

With consumers very price conscious these days, they should have no hesitation in asking their doctor for generic medications. These are medications that are proven but no longer have patent protection so the price is affordable. The public should not be fooled in thinking that newer is better. Most of the latest drugs are "me too" cholesterol, blood pressure, allergy, diabetes, and heartburn medications. Pharmaceutical companies spend millions of dollars equal or exceeding marketing budgets of alcoholic and soda companies to influence you to prefer their brand.

Evidently the makers of Ambien CR is acutely aware of this as in a television ad they note that Ambien CR is not available as a generic, even though there are plenty of helpful generic sleep aids that can provide sleep at a price that people can feel good about.

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