Final answer:
The correct term for products developed by manufacturers and sold under another name exclusively at a retailer, often at a lower price, is 'Generic brands'. These are part of a marketing strategy in the business landscape referred to as monopolistic competition, where firms enjoy a mini-monopoly on their distinct products while competing with others.
Step-by-step explanation:
The type of brands being discussed are products that are developed by national or international manufacturers and then sold under another brand name exclusive to a particular retailer's store, often at a lower price. In this context, the correct term for such brands is Option 3: Generic brands. These are different from exclusive brands, which are typically only found at a specific retailer but are not necessarily lower priced. They also differ from premium brands that are often priced higher due to perceived quality, and boutique brands which are usually associated with small-scale, unique, or high-end products.
Generic brands have gained popularity as they often provide comparable quality to national brands but at a more affordable price. This marketing strategy can be part of monopolistic competition, where many firms compete with distinct products, each having a mini-monopoly on its particular style, flavor, or brand name but still competing with others on price, quality, and other attributes.