The main capacity of intangibles is differentiation. In the consolidated markets based on a commercial offer focused on functional factors, it is necessary to work strategically on the concept of “difference”.
The price, quality and distribution, which in other decades were important in the positioning of the product or service in the market, in the XXI century and in a global market, the commercial offers hardly differ.
In this context, purchasing decisions are reduced to cognitive and perceptive factors that give prominence to intangibles such as brand and reputation and that make a commercial offer unique. Becoming a purchase option no longer depends on the price, quality or access to the product, today, the brand and reputation factors that condition the action and the desire to purchase, is a competitive advantage.
In the new economy of intangibles, the new economic cycle of the 21st century, brand, reputation and communication have become the new tool of managerial management. It’s becoming the engine of generation and destruction of the value of companies, their products or services, financial institutions and even countries.
And of these intangibles depends, to a great extent, the access and consolidation of the companies in the markets. It also depends on the relevance of the product and the company and the ability to satisfy the psychological and social needs of consumers.
As a result of this paradigm, the change in the operating environment of the businesses has been consolidated, causing the appearance of a new income statement in the accounts of the companies, unlike the only income statement that dominated the management of the S. XX.