Here are the four compelling and proven ways that can successfully minimize the product commoditization in a competitive market.
Slide - 1
Are
you facing a product commoditization trap?
Slide – 2
So,
how should you respond to this situation?
Here
are the four compelling and proven ways that can successfully minimize the
product commoditization in a competitive market.
Slide - 3
1. Innovate
Your Product Value
You
can come up with a new product SKU or even upgrade of the existing product with
innovative features,
2. Target
the right customers
Focus
on customer niche rather than focusing on every targeted customers to buy your
product or service
Slide - 4
3. Offer
exceptional supplementary services
Emphasising
on selling your product with differentiated and better supplementary services
that your competitors
4. Have
the optimal price structure
Have
a sophisticated pricing structure that allows you to optimize how much you
charge; you can apply ‘price-paid less cost-to-serve.’
Slide - 5
So,
what according to you is the best way you think is to respond to product
commoditization?
Do
share your thoughts by commenting below.
CAPTION
A
major issue which many of business executives are facing today is the fear that
their product might or have become commoditized, especially in wake of
increasing cut-throat competitive environment.
If
you want to escape product commoditization, then start by reconsidering what
your customers pain point areas / problems are, and how can you solve them
coupled rebuilding your organization’s activities in a fundamentally new
manner.
To
help you out we have listed out the four proven ways that you can adopt to
battle-out the product commoditization trap.
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