Issues

INVESTOPEDIA defines commoditization as a situation in which:

"a product becomes indistinguishable from others like it and consumers buy on price alone"

To identify, build and defend the differentiation of you brand in ways that are meaningful to your customers you should; A. Continue to reinforce and strengthen the capabilities that add value in a differentiated way to your customer B. Communicate more effectively, what your capabilities are and how they support the customers needs C. All of the above D. Neither of these will help as the customer defines what they want and you can't impact that process

C. All of the above

True or false? To correct or reduce our disequities, and build potential equities, we should try to minimize the competitors points of difference downplaying their value to the consumer in our advertising.

False

True or false: To help define the "Value" a customer gives our products, the best place to start is to list out all the attributes of the product, then determine the relevant importance of each.

True

The primary way brands can find a way out of commoditization is through:

deeply exploring customer value in order to identify and understand needs that have not been well articulated"

To identify totally new growth areas in the customers "unmet needs" circle, we can add functional value or instrumental value, which refers to;

functional value, is the addition attributes to make products work better like wheels on a suitcase, while instrumental value refers to pricing a sense of control or peace of mind from using your product

The INSIDE VIEW is defined as;

our assets, resources, capabilities and knowledge that we bring to produce products the customers value

To build and defend our POD's (Points of Difference)

the firms offering must be differentiated from competitors in ways that matter to customers

When trying to understand customers by "digging deeper" into their white space needs that are unmet

the process of "laddering" drills down into the underlying reasons customers assign high value to specific attributes of a product or service

In the 3 Circle model the OUTSIDE VIEW is;

what the customer believes about us