Commoditization

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Commoditization

Movement toward perfect competition; the process by which a good or service thought to be unique or superior becomes like other, similar goods and services in the eyes of the market. Commoditization is the movement toward undifferentiated competition between two or more companies offering the same good or service. This leads to lower prices.
References in periodicals archive ?
Main objective is to help any business or government entity streamline their transactional and RFP processes while savings through transparent bidding-events that can commoditize any products, materials or services to generate the lowest possible market prices.
Kongstvedt: It commoditizes all those people that thought they would get into brokering information transmission.
But maybe most of all, the life insurance industry is being driven to commoditize its products by the influx of capital from non-insurance investors who demand short-term returns.
These standards are helping commoditize the adapter market, giving customers what they need: a comprehensive integration solution featuring consistent quality and lower cost.