Four strategies to stop customers fixating on price
A universal fear of companies is the chance that one or more of their products could be considered a commodity by their consumers.
Why is this so bad? If the customer views your product as a commodity, they will shop around for the best price, they will believe that there is no tangible benefit in buying from you over another supplier, thinking your product is equal to a host of other companies products.
Buyers in a commoditised market will focus on price, show scepticism, have low expectations on additional services, have low brand loyalty and have a very strong preference for swift and effortless transactions.
This is a bad situation for almost all businesses.