2 Different Business Types [A Brand vs A Commodity]

What is the difference between a brand and a commodity in the business world? A brand sells on loyalty, trust and emotion. A commodity sells on price. An example of a brand is Red Bull and a Commodity is gas. You have no loyalty to gas stations unless you are a gas purist. All things being equal you will pick the gas station with the best prices. I couldn't tell you the price of a Red Bull soda and if they raised their prices I wouldn't care. There is a loyalty to Red Bull. Its has a great logo, it gives super human strength when you drink it and you become an extreme athlete for a bit. Red Bull is a phenomenal business which not only branded itself as an extreme sports brand yet also transformed the entire extreme sports industry.

"Evaluating a Business Requires Effort & Diligence, Buying a Business Requires Patience."
--Red to Black Podcast

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