Decreasing profits and increasing competition characterize commoditization. This is a fact of life in most industries today for many reasons. In the eyes of your buyers, products and services are less and less differentiated.
At the same time, there has been a significant transformation of consumer behavior. They are more informed about the products and services they want to buy; they are armed with comparative data about quality, availability, and price; and they are determined to be successful on their terms.
So, how do you and your company respond? Here are five ways to avoid commoditization in your business.
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