Difference Between Commodity And Commodity Exchange
At first glance, commodities and gifts appear to represent two unique entity as the forms and functions of exchanging them are fundamentally distinct. In the last few decades, as the competition in the market becomes increasingly cutthroat. Companies begin to employ different strategies to differentiate their products from their competitor. Consequently, this blurred the distinction between previously defined concepts of commodity and gifts. This paper will provide a detailed analysis of the characteristics which distinguish gift-exchange from commodity exchange and reveals that the commodity, like the gift, can be used to create certain types of social bonds and mutual obligation between parties and also possess a quality of the giver as well as manifest a form of inalienability from the giver. Commodity exchange was known to be lacking almost all social or personal considerations. The objective of purchasing a commodity is not motivated by the desire to have a strong and lasting relationship with the seller, it is motivated by the desire to own the commodity. However, is that always the case? Compared to several decades ago, companies are becoming more inclined …show more content…
As mentioned earlier, companies try to enlist their customers into a lasting relationship and once they have established a long-term relationship with its customers, it has a variety of social obligations that the relationship brings. These obligations include sustaining the level of quality, service, etc. that their product represents to keep their customer. Likewise, a customer that is highly satisfied develops loyalty and feel obliged and tied to the company. This is because high satisfaction creates an emotional bond with the brand or company. Hence, it is evident that commodity exchange can create mutual obligations between the producer and the consumer, a situation parallel to gift
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