I hear many salespeople complain that their product has become commoditized. This can be one of those “perception equals reality” traps; that is, if you believe your product or service is a commodity, then you are helping to make it a commodity.
So what is a commodity? Many definitions are possible and can change in context; for our purposes, let’s assume commodities are products or services where the customer enjoys freedom of choice with little negative impact by switching suppliers. In essence, price is controlled by the buyer. This condition pushes price discussions to the forefront, and competing suppliers engage in a race to the bottom, gutting the business of profit.