Every business competes for additional revenue and increased market share. With few exceptions, most of the products and services they offer are undifferentiated and are easily replaced with other substitutes from rival competitors. This commoditization puts businesses at a disadvantage and many resort to competing on price rather than quality or other distinguishing features/benefits.
Identify, research & define the stats – discuss at least one specific market segment that a well-known brand targets (cite at least one supporting reference)
Identify and discuss – an example of consumer (B2C) or industrial (B2B) products/services that have become commoditized (cite at least one supporting reference)
Other than becoming the lowest cost provider, how can a business offering a commoditized product differentiate their offering? (cite at least one supporting reference)
Cite at lest 3 supporting credible references in total.
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