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... But can the same model be applied to sell commodity products like sugar, rice, water, petrol, steel etc. ...
For a better understanding let us first understand what commodity and branding are. A commodity is defined as a specific group of lowly differentiated products or services with high levels of substitutability and straightforward price discovery. Branding is creating a mutually acknowledged relationship between the supplier and buyer that transcends isolated transactions or specific individuals to achieve superior and sustainable share and price premiums, even in the most adverse of markets. ...
But why should one brand a commodity? ... Sell clay, and you are selling a commodity. ...
Branding commodity products is a way to escape from merely competing on volume and price alone. ... Indeed, when it comes to commodity products, the burden of proof is almost always on the marketer to show why his product is better and worth more to the customer than that of a competitor. It is a marketing argument that may have as much to do with the way the commodity is packaged, delivered and used as it does with its actual quality and characteristics. ... We have seen in the Indian scenario, that branding of bottled water has made a big splash. ... have transformed a commodity into a branded product.
There are two ways of approaching the issue of branding of commodities. The first is to develop a brand for the commodity itself, and the second is to develop a brand to embrace not only an appropriate commodity specification and quality, but also the add-ons.
A commodity brand will focus upon the following:
• Product form- MDH Masala leveraged this aspect of commodity branding by offering its products (powdered masala) in a manner most convenient to the consumers.
• Product quality standards- Tanishq was among the pioneers of commodity branding in the jewelry market in India. ...
• Performance relative to customer expectations- every commodity should deliver more than what is promised rather than the promising more than what they can deliver.
Approximate Word count = 1628
Approximate Pages = 6.5
(250 words per page double spaced)
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