High Commodity Prices and High Prices of Raw Materials; A Dilemma for Marketers to meet the Demand of the Consumers
The fundamental reason that marketers are in a situation of “no
return” when it comes to setting the price of the commodities, it is because
that basic components of products or raw materials are in a huge scarcity dilemma.
If you can only imagine how science
contributed towards business for maximizing the common goods. Science enables the commodity products to
conserve the use of the raw materials being used during the production
stage.
Take for example the technology
of making cars and airplanes, instead of using metals for the body building of
the plane or the car; science on the other hand, innovates the use of plastics
or what they call Carbon Fiber reinforcing the plastic. These kinds of plastic components are not the
ordinary plastics that we can see every day. With this regard, the manufacturing company
can maximize the product’s quality and minimize the cost being incurred during
production stage.
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