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How Do We Get Paid for This? Beating the Commodity Trap Using Design‐based Differentiation to Maintain Pricing Power
Author(s) -
Parkman Ian D.
Publication year - 2021
Publication title -
design management review
Language(s) - English
Resource type - Journals
eISSN - 1948-7169
pISSN - 1557-0614
DOI - 10.1111/drev.12260
Subject(s) - commodity , socks , elite , nike , set (abstract data type) , advertising , marketing , power (physics) , league , product (mathematics) , trap (plumbing) , quality (philosophy) , business , core (optical fiber) , engineering , computer science , politics , telecommunications , political science , philosophy , mathematics , environmental engineering , law , geometry , epistemology , quantum mechanics , programming language , mechanical engineering , physics , finance , astronomy
Design‐based differentiation represents a set of product development strategies focused on using insights about the emotional, social, and cultural contexts in which offerings are used by the customer to enhance the emotional appeal, aesthetics, styling, ergonomics, core technology, and quality of products and services. If you thought of socks as a dull commodity, think again. This fascinating case study illustrates how Nike's Elite socks became a game changer.