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How has the definition of a commodity changed by the evolution of branding?

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Final answer:

The evolution of branding has changed the definition of a commodity by adding value and uniqueness to products, creating an emotional connection with consumers.

Step-by-step explanation:

In the past, a commodity was defined as a basic, unbranded product that could be easily exchanged in the market. However, with the evolution of branding, the definition of a commodity has changed.

Branding adds value and uniqueness to a product, making it stand out from other similar products in the market. For example, a branded t-shirt with a popular logo will have a higher perceived value and price compared to an unbranded t-shirt of the same quality.

Branding also creates an emotional connection with consumers, making them more likely to choose a particular brand over others. This shift in consumer behavior has influenced the way commodities are perceived and consumed.

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