This document discusses the difference between operating a business as a commodity versus operating as a brand. It notes that a commodity is an undifferentiated product or service where customers choose based mainly on price, while a brand creates an emotional connection with customers through its unique identity and values. Operating as a brand allows businesses to attract loyal, passionate customers and charge premium prices, while commodities face more competition and pressure to lower prices. The document encourages business owners to view themselves as brands in order to better connect with customers and grow in a sustainable way.
2. The most fundamental question
a business owner should be
asking themselves is:
“Am I viewed as a commodity
or a brand?”
The answer to this question
makes everything in business
that much easier.
COMMODITY
OR BRAND?
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4. A commodity is undifferentiated products
or services with little or no perceived
differences between competitive offerings.
With no difference, consumers
shop primarily on a low price,
service or distribution basis.
COMMODITY
OR BRAND?
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5. Is your business unique?
If you ask any business owner, they will list the
reasons for why they are unique.
But when you ask the public, there may not be
such an obvious difference.
COMMODITY
OR BRAND?
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7. • You are taking a reactive stance and allowing your customers
and competition to dictate your business. If your competition
lowers the prices, you feel pressure to do so as well. If your
customers request a product or service, you feel pressure to
add that to the list of what you offer.
• You often feel that your customers do not fully understand or
appreciate your business.
• You often get customer feedback based on commodity
attributes (prices, customer service, location).
• Running a business as a commodity will often have you
feeling worn out (trying to be everything to everyone).
• People shopping a commodity are not loyal customers. They
are strictly buying the product or service.
• As a commodity, you have lots of competition.
When Operating as a Commodity:
COMMODITY
OR BRAND?
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8. WHAT IS
A BRAND?
HINT: Just because you are a business,
does not mean you are actively branding.
COMMODITY
OR BRAND?
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9. Brands are not logos or designed
collateral. They are the thoughts,
feelings, and psychological
relationships between a business
and a consumer.
COMMODITY
OR BRAND?
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11. Brands are unique and
individual, based off your
promise to your customer.
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OR BRAND?
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12. • You are taking a proactive stance to shape your business and to attract
a specific consumer based on your beliefs, core values and mission. You
are attracting a loyal fan base that falls in love with your company values.
• Your customers not only fully understand you, but they celebrate you!
They are your advocates. They become your sales force.
• The customer feedback you get will be a reflection of your core values,
your story and your reputation. Price, service and location are still required
for success, but is not what makes the company unique. And most people
are willing to pay extra or drive further to experience a great brand.
• Businesses operating as a brand are often passionate for what they do.
They are able to attract their ideal customers, charge the ideal prices and
build a loyal following.
• People shopping a brand are loyal customers. They are willingly buying
the emotional experience.
• As a brand, you have minimal competition.
When Operating as a Brand:
COMMODITY
OR BRAND?
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13. Your brand becomes an
extension of your customer’s
individuality by defining who they
are. They are proud to buy
your product or service.
COMMODITY
OR BRAND?
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16. COMMODITY
OR BRAND?
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If you own a company and you are
passionate for what you offer, you
owe it to yourself to start running
your business as a brand.
Share your passion
and attract people who
appreciate you.
Your loyal customers will come to
you because you matter to them
and because your business makes
a difference in their lives.
17. All buying decisions are made
emotionally. People want to buy the
emotional benefit over the need.
Otherwise, no one would be paying
$
5 for coffee or driving a BMW.
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OR BRAND?
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18. You owe it to yourself and to your
customers to charge the amount of
money for your product or service
that allows you to grow and become
the business you and your customers
want you to be.
By charging that premium you can
ensure your brand stays true to your
promise by:
• Offering the best purchase
experience
• Creating a corporate culture that
attracts fun and talented staff
• Staying up-to-date with online
expectations and experiences
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OR BRAND?
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19. People fall in love with
how a brand makes
them feel.
+
We believe that every
business has the potential
to be a brand.
COMMODITY
OR BRAND?
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20. The First Step
Let’s begin with a conversation.
Our Discovery Session will give you
insight on how you can positively
change the way you do business.
Visit our website or call us today.
enticity.ca | 866.790.1711
