commodity trap

  • Getting Out of the Commodity Trap – Part II

    Getting Out of the Commodity Trap – Part II

    March 12, 2013 | By: | In: Innovation Psychology

    The basics of Prospect Theory by Daniel Kahneman tell us that we hate to lose 3 times more than we love to win. This mindset, probably deeply engraved in our DNA, has implications on the way we develop and brand our products as we are more prone to reduce the drawbacks we have relative to our competitors rather than to improve our advantages. According to Bengt Järrehult this leads to commoditization.

  • Image by Kathy Vitulano

    Getting Out of the Commodity Trap – Part 1

    February 26, 2013 | By: | In: Innovation Psychology

    Has your product lost competitive advantage? If your customers cannot differentiate your product from those of your competitors, most likely you have fallen into the “commodity trap”. The following article explores how this harmful phenomenon can be better understood and ultimately avoided by studying the dynamics within flocks of birds.

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