Commodities

Commodities can be defined as any good or service that is bought and sold purely on price. These include the traded commodities. They can also include products that are not very differentiated from others based on brand, benefits or other distinguishing features. For example, Coca-Cola is a branded product that receives great loyalty, and a higher price, because of its perceived differentiation from other cola drinks.A low-cost store brand is more of a commodity, because it isn't much different from other store brands and is bought primarily because of its low price, not its taste.

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