Parity Product
Categories: Marketing
A product so similar to a competitor that the two can be used interchangeably.
You go to the store to pick out some toothpaste. You usually buy the cheap store brand. But they're out. So, instead, you pick up the next price level higher. Same basic flavor (you like caramel bubblegum). Same whitening action. Same enamel protection. You don't really notice a difference.
Sometimes, companies will purposely launch a parity product to keep up in the marketplace. Coke launches a cinnamon-flavored cola. Sales take off. Not to be left out, Pepsi comes up with its own cinnamon drink as a parity product...just something to give Pepsi loyalists an option when buying cinnamon drinks.
