Brand name drugs are chemically identical to their generic counterparts. Yet, consumers often prefer the brand name product to the generic product. Making consumers think that a brand name drug differs from its generic counterpart is an example of

Question

Quizplus · Accepted Answer

Product differentiation is a marketing strategy that businesses use to distinguish their products from those of competitors, even if they are chemically identical, as in the case of brand name and generic drugs.

Brand Name Drugs Are Chemically Identical to Their Generic Counterparts