CORPORATE IDENTITY What is a Commodity? What is a Premium? Corporate Image & Brand Management.

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Presentation transcript:

CORPORATE IDENTITY What is a Commodity? What is a Premium? Corporate Image & Brand Management

CONTENT What is a Commodity? What is a Premium?

WHAT IS A COMMODITY? “A GOOD BRAND IMAGE CAN REMOVE SOMETHING FROM JUST BEING A COMMODITY-TYPE PRODUCT WITH VERY NARROW MARGINS TO THE KIND OF PRODUCT FOR WHICH YOU CAN GET PREMIUM PRICES.” - Sandy Weill

Commodity When the product or selling has become a commodity, the purchaser does not differentiate among competing suppliers of that product or service. No perceived difference in terms of: 1.Quality 2.Level of customer service 3.Propriety aspects of the product

WHAT IS A PREMIUM?

PREMIUM When a product can command a price that is more than a simple multiple of its costs. The premium is the differential between the lowest affordable selling price and what the supplier can actually obtain for his for her product in the marketplace

Aspect of Image in a Premium Awareness/recognition level -if a product or service is not known it cannot obtain a premium Specificity -being known is important but as important to be well thought of

Standing for something -it might be for quality, or convenience, or reliability Margin of error -having a premium creates a larger reserve against a possible error by the company Market share -interrelationship among image, premium, market share

Consequences of Being (Becoming) a Commodity In the future, some products and services that commands premium today may slip and become commodities Ex: Credit Cards TV Networks

Beating the “No Premium” Blues Create a new product with an identity separate from that of most other products in the field Do some creative repositioning of the product away from basic reference as a commodity Hang on to a technological innovation Ex. The can industry

EXERCISE Select a commodity product that you usually see in Cambodia. Share your “out-of-the-box” idea to make premium or more premium Create the brand identity for this product to make it a premium Highlight some creative strategies