In this post, I'll just refer to product rather than product and service. This is simply for brevity. Consider that I am referring to product or service. Your business be selling Real Estate, for example, which is a service than a product.
As we know, the bottom line is determined by your revenues and your costs. I have seen businesses that do a good job at managing one but not the other, with the result being a drop in the bottom line. This post focuses on the revenue side of your business.
A commodity is a product that is just like every other business's product - in the eyes of the consumer of your product. When your product is viewed this way, how much you can charge for your product is determined by the 'market' in which you sell your product. Your revenues are then largely determined by forces outside of your control.
One important alternative is to market your product or service as a specialty product. This helps to separate your product from the mass of alternative suppliers of your product. This is a crucial step towards having greater control over your revenues. You have greater control over your revenues when you are able to charge a premium for your product. In the parlance, this premium is often referred to as a higher value added.
If there are legal limitations on your ability to set a higher price (fee) for your product, then the question is how can you charge that maximum.
If the market in your business already has a standard fee that 'everyone charges' then the question might be how do you use other tools to distinguish your product from others with the same or similar price? Here again, the goal is the same - getting greater control over your revenue stream.
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