"Project Funding Broker Consultancy" - Value Marketing is the Key to Success.
Dale C. Changoo
Managing Principal at Changoo & Associates(30,000+ LinkedIn Connections)
Commodity and value marketing are different approaches to promoting and selling products or services.
Commodity Marketing:
- Focuses on the product's features, price, and availability
- Emphasizes the product's functional benefits
- Targets a broad audience
- Uses mass marketing techniques (e.g., advertising, promotions)
- Aims to sell a large quantity of products quickly
- Examples: fast food, household items, bulk purchases
Value Marketing:
- Focuses on the product's unique benefits, value, and experiences
- Emphasizes the product's emotional and psychological appeal
- Targets a specific audience with specific needs
- Uses targeted marketing techniques (e.g., content marketing, social media)
- Aims to build long-term relationships and loyalty
- Examples: luxury goods, services, experiences (e.g., travel, entertainment)
Key differences:
- Commodity marketing prioritizes price and convenience, while value marketing prioritizes the product's value and experience.
- Commodity marketing targets a broad audience, while value marketing targets a specific audience.
- Commodity marketing focuses on functional benefits, while value marketing focuses on emotional and psychological benefits.
In summary, commodity marketing is about selling a product quickly and efficiently, while value marketing is about building a relationship with the customer and creating a lasting experience.