Page 146 - 100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

I started, this business was commoditized—you have a big box and
gaming tables. Your challenge is to differentiate yourself from the
other big boxes.”
While commoditization is viewed as the largely inevitable fate of
many products, companies can increase their chances of avoiding it
by differentiating themselves, recognizing when commoditization
is about to occur, and taking steps to ensure their product remains
on the cutting edge.

In practice

• Find new ways to make your product or service distinctive,

and avoid letting your product become an undifferentiated
commodity.

• Ensure that some aspect of your product remains specialized,

unique, and valuable for your customers.

• Consider the potential for commoditization when deciding to

invest in growth industries.

• Utilize intellectual property protection laws, and create products

or services that cannot be easily mimicked by competitors.

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