Is your Product/Service a Commodity?
Is your product a commodity? As we think about the business that we are going to start or the new products/services we will be introducing into the market place, we should first evaluate where that business or product is positioned in the minds of the consumer. What is a commodity? A commodity is a product/service that the market place does not perceive has any differentiation. They are alike, and it does not make any difference which is chosen. It is the difference between a distinct brand and a generic. They all provide the same purpose and there is no difference in [...]