What are commodity products? What's important to know about them in the context of a case?
(edited)
What are commodity products? What's important to know about them in the context of a case?
(edited)
A product with little differentiation which often drives down the price, or the ability to charge a premium. For example, any consumer product that you can buy non-branded could be a commodity product, e.g., toilet paper, aspirin, some would even say an airline ticket, etc.
Hi there,
A commodity is one in which there is perfect competition. There are many players and products are not differentiated. As such, you cannot set your price, and therefore you can primarily only compete on volume and on cost. (Important for a case)
Oil, gas, corn, water, etc. are all commodities!
So much literature on this is available online..you can easily self learn :)
In a world where empathy is the ultimate currency, get the knowledge to uncover the untapped potential of emotional intelligence.
Discover the secrets to Goal setting, Reality checking, Options exploring, and Way forward planning that will redefine your path to success.
Discover the CMM framework and its extension to the Capability Maturity Model Integration (CMMI), focuses on improving processes within an organization.
Discover the transformative power of Six Sigma as it revolutionizes industries by maximizing efficiency and minimizing defects like never before.
Organizations that prioritize continuous learning and growth are thriving. Learning organizations represent a transformative approach to businesses.