commodification

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commodification

the process by which goods and services are increasingly produced for the market. Compare SUBSISTENCE ECONOMY.
Collins Dictionary of Sociology, 3rd ed. © HarperCollins Publishers 2000
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Kongstvedt: It commoditizes all those people that thought they would get into brokering information transmission.
The Next Iteration of Managed Care?
"Think of how Chuck Schwab founded the company," in which he brought technology into trading and helped commoditize it." Speaking to the 1,800 advisors in the audience, he said the movement toward more passive investing models "will make asset allocation less valuable." So advisors' real value will come from advisors acting "almost as a psychologist" to help end-clients determine and then take action to meet their goals.
Schwab's Bettinger Comments Candidly on Robos, Scottrade, Breakaways
When standards become rigorous prescriptions of what must be done, they indeed will "commoditize" products and reduce incentives to innovate.
Strategic standardization

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