Definition, Meaning & Synonyms

commoditize

verb

/kəˈmɒdəˌtaɪz/

Definition

To make a product or service easily available and interchangeable with others, often leading to a decline in its perceived value.

Examples

The introduction of new technology can commoditize various products, making them accessible to a broader audience.
In a crowded market, businesses often try to differentiate themselves before their offerings get commoditized.
As more brands enter the industry, the unique features of the original product may commoditize, leading to price wars.

Meaning

Commoditize refers to the process where goods or services become standardized and widely available, making them less differentiated and more based on price rather than unique qualities.