opportunity 71 of 150 Effective marketing involves much more than creating clever advertising. There are many opportunities that are overlooked because they are less talked about or less understood. This is despite the fact that many of these opportunities are less expensive than advertising and can actually reduce the need for advertising. Embrace all types […]

opportunity 71 of 150 Effective marketing involves much more than creating clever advertising. There are many opportunities that are overlooked because they are less talked about or less understood. This is despite the fact that many of these opportunities are less expensive than advertising and can actually reduce the need for advertising. Embrace all types of innovation –each has its place and a role to play. Few things can drive down margins and drive up the cost of promotion more than commoditisation. Indeed, commoditisation must rank among the greatest threats to profitability in 2016. As soon as a product becomes a commodity: Consumers are inclined to pay less Discounting becomes more common Differentiation becomes more difficult Despite this, many products and, indeed, businesses have become commodities and commoditised. Consider for example: Honey, once a high value delight is now a commodity squirted out by Capilano and sold in Coles for…