commodity branding
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"Any damn fool can put on a deal, but it takes a genius, faith and perseverance to create a brand."
How can Tatas sell salt at a premium and still outsell its competitors? Why does coca-cola sell more cola based drinks around the world than anyone else? The reason is simple: They created strong brands that are trusted by the consumers. But can the same model be applied to sell commodity products like sugar, rice, water, petrol, steel etc. in transitioning markets like India? The answer is yes.
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...