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Commodity Marketing – Eine Einführung Read chapter Read first chapter

2014 | OriginalPaper | Chapter

A Historical Review and Reconceptualization of Commodity Marketing

Authors : O. C. Ferrell, Ph. D., Linda Ferrell, Ph. D., Jennifer Sawayda

Published in: Commodity Marketing

Publisher: Springer Fachmedien Wiesbaden

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Abstract

This review of the historical foundation of commodity marketing provides an overview of the development of this school of thought in marketing education. Marketing has been driven by management of the product. More recently, the idea of a product has been expanded to include intangible attributes associated with services or ideas that impact relevant stakeholders. We provide a framework to show that marketing strategies are used to change a core good or service into a differentiated product with unique benefits, preferences, and equity. Commoditization occurs when products become indistinguishable, from a consumer perspective, and are no longer viewed as differentiated by consumers. Commoditization is a significant challenge today due to the level of consumer information and knowledge forcing businesses to match benefits, quality, and prices. Once commoditization occurs, price becomes the key marketing variable that consumers use for decision making. Therefore, intangible attributes and resources emerge as a way to differentiate products. This history of commodity marketing covered in our review helps to highlight the contributions of early scholars who pioneered the commodity school of thought and the contributions it provides to contemporary marketing strategy.

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previous chapter Market Orientation in Commodity Marketing: The Necessary Link Between Marketing and Production
next chapter Fairtrade and De-commoditization
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Metadata
Title
A Historical Review and Reconceptualization of Commodity Marketing
Authors
O. C. Ferrell, Ph. D.
Linda Ferrell, Ph. D.
Jennifer Sawayda
Copyright Year
2014
Book
Commodity Marketing

Print ISBN: 978-3-658-02924-1

Electronic ISBN: 978-3-658-02925-8

Copyright Year: 2014

DOI
https://doi.org/10.1007/978-3-658-02925-8_22