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Combating Product Commoditization through Innovation Seminar

The CHHMA kicked off a new partnership with the Schulich Executive Education Centre (SEEC), Schulich School of Business, York University, on September 7, 2018 at the Centre for Health & Safety Innovation (CHSI) in Mississauga with a presentation by Gerry Lubanszky to a group of CHHMA and COPA members on the subject of ‘Combating Product Commoditization through Innovation.’

Mr. Lubanszky is an instructor at SEEC where he teaches a course on New Product Development & Innovation Strategies.With 30 years of experience in the consumer packaged and durable goods industries in various managerial and executive roles, he is recognized as a leader in new product and new business development in Canada.Gerry is also Vice President of Sales for Garant GP, a leader in new product innovation in the Canadian hardware industry, and is a member of the Board of Directors for the CHHMA.

The SEEC partnership enables CHHMA members to take advantage of a 10% discount off any Open Enrolment Programs that SEEC offers as well as a special rate for any In-House and Customized Programs that SEEC tailors for any member company.  In addition, the partnership includes plans to conduct a number of seminars & webinars for CHHMA members by SEEC instructors on a variety of topics over the coming months. 

For more
information on the Schulich Executive Education Centre (SEEC), click here.

During the September 7th seminar, Mr. Lubanszky reviewed the criteria of commoditization and how products become commoditized, the warning signs and what strategies companies can take to prevent and/or recover from commoditization.  A common mistake is for companies to think that their market is commoditized when it is not which leads to unnecessary price decreases and margin loss. The presentation importantly discussed the paradigm of change taking place in the marketplace which is being driven by the millennial generation. ‘The product is the experience.’

The seminar emphasized that one of the key strategies to combat commoditization is through innovation which can take place in many ways over and above the physical product specifications themselves. There is an opportunity to innovate at every point along both the value and supply chains in order to create an advantage over your competitors and differentiate your product in the marketplace Mr. Lubanszky pointed out.

Attendees walked away with some valuable information which can be applied to their business strategies and we thank Mr. Lubanszky for his insights and excellent presentation.


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