In business literature, commoditization is defined as the process by which goods that have economic value and are distinguishable in terms of attributes (uniqueness or brand) end up becoming simple commodities in the eyes of the market or consumers. It is the movement of a market from differentiated to undifferentiated price competition and from monopolistic to perfect competition. This is not to be confused with commodification, which is a Marxist term for things being assigned economic value which they (according to Marxist theory) did not previously possess, by their being produced and presented for sale, as opposed to personal use.
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