A store brand, also known as a private brand, refers to a product manufactured under the unique identity of a particular retailer, directly rivaling nationally recognized brand-name products. Typically, these private brand items are priced more competitively, offering consumers a cost-saving alternative to the more famous name-brand products. Additionally, these in-house label items can offer retailers, including supermarkets, more favorable profit margins compared to the nationally recognized brands they stock (Hargrave, 2019). In contrast, a brand name is a designation assigned by a manufacturer or organization to a specific product or service. (Nordquist, 2019). An industry where this differentiation is commonly seen is the drug industry. Many customers tend to believe that brand names are more effective. An example of this is Tylenol compared to generic Acetaminophen. Name brands also tend to have better advertising, where the product is marketed in such a way that makes consumers believe they are getting the best, and if they go with other versions then they will be excluded from the "in crowd."

Reference

Hargrave, M. (2019, July 8). How Private Brands Matter. Investopedia. https://www.investopedia.com/terms/p/private-brand.asp

Nordquist, R. (2019). Get the Definition and See Examples of Brand Name. ThoughtCo. https://www.thoughtco.com/what-is-brand-name-1689036

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