substitute

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Substitute

A good or service that satisfies a consumer's needs or desires just as well or almost as well as a similar good or service. A common type of substitute is an off-brand product; for example, a grocery store may sell its own peanut butter to compete with the on-brand peanut butter it also sells. Often, though not always, the price of a substitute is lower than that of the original product, but they follow generally the same trends. For example, if demand for the on-brand peanut butter rises, its price increases, but so does the price of the off-brand peanut butter, because consumers are willing to pay more for peanut butter generally, but are still looking for a bargain.

substitute

See swap.
References in periodicals archive ?
Sanguine Corporation (OTC Bulletin Board: SGNC), a bio-pharmaceutical company focused on the development of an oxygen-carrying synthetic substitute for human red blood cells, today announced that a recent twelve-week emulsification stability study of its synthetic red blood cell substitute, PHER-O2, has indicated that of the three possible emulsion formulations tested, Prototype #3 has proven the most appropriate for toxicity and clinical trials.
Sanguine Corporation (OTC Bulletin Board: SGNC), a bio-pharmaceutical company focused on the development of an oxygen-carrying synthetic substitute for human red blood cells, today announced that a twelve-week emulsification stability study of its synthetic red blood cell substitute, PHER-O2, has been finalized and has yielded positive results.
His in-depth experience in the field of biologics, the science of blood therapy, makes him an ideal proponent of our synthetic red blood cell substitute, PHER-O2, especially as we draw close to the commencement of FDA toxicity studies.
MBA, chairman and chief executive officer of Sanguine, commented, "Sanguine has taken significant strides recently on several levels, including the research and development of its second- generation synthetic red blood cell substitute, PHER-O2, and in the organization and membership of its management team and medical and scientific advisory boards.