commodity-type product

commodity-type product

a good or service which is highly standardized so that the offerings of competing suppliers are perceived by buyers as being virtually identical. Such products offer little scope for PRODUCT DIFFERENTIATION and are mainly sold on price. See PRODUCT LIFE-CYCLE.
References in periodicals archive ?
It's very difficult for farmers to make a profit when they are growing a commodity-type product, whether corn (for livestock) or hay," says Christopher Markuson, director of the county's Department of Economic Development.
A wide variety of commodity-type product has been coming in from China for years, but more often than not, today's goods made there are of superior quality and are attracting attention from high-end retailers.
Being an importer of a commodity-type product like a vertical machining center or a knee mill is not in our sweet spot.
of Massachusetts to negative to reflect the challenges SBLI will face in producing very strong and stable earnings while selling term life insurance, which is predominately a commodity-type product.
At a time when members of our industry have been more focused on a commodity-type product and service, we have focused on growing our technological capabilities and addressing individual needs in the most effective and financially efficient manner," stated Alan Whorton, President of MedAdmin Solutions.
35 per share, during fiscal 1999, as higher sales and gross profit margins on branded paper product lines offset continued weakness in commodity-type product prices.
Retailers have done a fine job on the store brand side balancing product quality with price so far, especially when it comes to commodity-type products such as distilled white vinegar, apple cider vinegar and vegetable oil.
These "indirect" characteristics can be used to differentiate very similar or commodity-type products and may be fertile ground for differentiation.
Asda says the auctions are used only for commodity-type products, such as bottled water or bulk Cheddar, but other suppliers report having to bid in e-auctions to keep their current contracts.
To meet the challenge of globalization, many producers are moving to more unique and customized products as a way to compete with the mass-produced, commodity-type products that are being imported," he says.
The move shifts Rockwell away from commodity-type products and into more specialized factory automation solutions that combine Rockwell hardware and higher-margined consulting services.
Companies that manufacture commodity-type products are less likely to be able to push through price increases because of the competition from private label," says Jay McIntosh, Americas director of consumer products for Ernst & Young.