Endless corn fields in front of your eyes: so much corn that after a while looking at the same landscape, it doesn’t seem nothing especially exciting and becomes ‘invisible’.
The same thing also happens in business: when there is a lot of something and it all looks the same, people don’t see it. In business, the corn would be what we call a commodity.
While selling a commodity may be relatively easy, the commodity zone is a tricky place to be at: it is a fruitful ground for price wars.
However, the good news is that a commodity can be turned into something much more interesting. Based on Fernando Trias de Bes, people are ready to pay more for a product that is perceived both desirable and scarce. In order to do that, we have to create a brand.
A brand is a mental representation in people’s minds. Once we understand how a brand works in people’s brains, we can also tap into the neuroscience-based methods to better manage those mental brand perceptions.
You can read my analysis on how that can be done in practice in my latest post ‘How to turn a Commodity into a brain-pleasing Brand?’.
Find it here.