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How to Differentiate Your BusinessAlthough many industries are becoming more commodity like, it is rare for an industry to be a pure commodity business with no possibility to differentiate. Is water a commodity? The answer is a clear "No." Otherwise, people would not pay $2 for Perrier; they would not buy Great Bear water by the gallon; and businesses would not buy water coolers to provide better water for their employees. It might be true that two hundred years ago water was relatively more of a commodity than it is today because there were fewer contaminated sites and millions of dollars had not yet been spent on advertising and packaging. But the key point to recognize is that there are more differences between products and services than meets the eye. Perceived differences are often just as important as real differences. Otherwise, companies would not spend $5 million to hire a sports star or Hollywood star to drink a can of soda for a commercial. |
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