Differentiating the Indifferent: Dealing with Commoditization Paradox Through Innovation

Sabrina C. Thornton ()
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Sabrina C. Thornton: Sheffield University Management School

A chapter in Commodity Marketing, 2022, pp 265-279 from Springer

Abstract: Abstract This article discusses ways to deal with the commoditization paradox—either competing on price or further investment in rejuvenating a commodity may lead to further profit erosion. It takes the view that understanding, imaging, and planning what can be differentiated is the first step in making a commoditized product differentiated through different approaches to innovation (how). In this sense, marketing and innovation as two functions need to be operated as an integrated process that creates, delivers, and captures values. Three approaches to innovation aim to transform and realize points of differentiation, which focus on customer experience, superior value, and value creation. Drawing from relevant research, strategic issues pertaining to each approach were identified, which provide insights into how to ensure innovation performance, thereby sustaining a competitive advantage.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-030-90657-3_15

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DOI: 10.1007/978-3-030-90657-3_15

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