Commoditize

Dictionary Says

Definition of 'Commoditize'


The act of making a process, good or service easy to obtain by making it as uniform, plentiful and affordable as possible. Something becomes commoditized when one offering is nearly indistinguishable from another. As a result of technological innovation, broad-based education and frequent iteration, goods and services become commoditized and, therefore, widely accessible.



Investopedia Says

Investopedia explains 'Commoditize'


In the past few decades, previously "modern" things such as microchips, personal computers – even the internet itself – have become essentially commoditized. Combinations of commoditized products such as computers and business software have in effect commoditized many processes, such as business accounting and supply chain management. In a truly capitalist society, the ability to commoditize anything is seen as a benefit to all, and opens up resources that can be put to better use on innovative enterprises.




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