What are examples of commodification?
For example, the culture of a nation that revolves around services such as fast food, products such as cars and experiences such as a theme park. This can be contrasted with non-commoditized culture such as a unique local festival or tradition.
What is a commoditization in marketing?
Commoditization occurs when the market perceives products to be substitutable. Two common factors drive this substitutability. The first is the emergence of a standard design or technology in the marketplace. Initially, multiple technologies compete to become the market standard.
Is it commodify or commoditize?
Bottom line: Commodification is putting a price on things that shouldn’t have a price, things like friendship, knowledge, and beautiful women. Commoditization is what happens when a name brand is perceived as being no more desirable than the store brand.
What means commoditize?
The term “commoditize” refers to a process in which goods or services become relatively indistinguishable from the same offerings presented by a rival company.
How are people commodified?
Human commodity is a term used in case of human organ trade, paid surrogacy (also known as commodification of the womb), and human trafficking. Slave trade as a form of human trafficking is a form of the commodification of people.
How does something become commodified?
“Commodification” means transforming something into a product for commercial purposes, an item to be bought and sold in the market. Such use is considered an appropriation when done without permission, and can cause significant cultural, spiritual, and economic harm. …
Is commoditization good or bad?
Commoditization is bad because it erodes your ability to charge a healthy, profitable fee for what you make or do. When everything looks the same to your buyers, they’ll generally settle on whichever solution or product is the cheapest.
What is the opposite of commoditization?
The answer can be found in identifying the opposite of commoditization: differentiation (Cevallos 2012-2013).
What is cultural commoditization?
Early studies suggested that touristic commoditization—the offering of cultural products and practices for money—results in the emergence of a culture distinct from the traditional practice of “tourees” and less authentic by virtue of being both “staged” and a commodity.
What causes commoditization?
Commoditization may happen with a product, service or security, but in all cases three conditions must be met for a good or service to become a commodity: Standardized removes variations. Agricultural products must be in a raw state. For example, corn is a commodity, but light corn syrup is not.
How do you avoid commoditization?
How To Avoid Commoditization
- Create a third market place.
- Target the right customers.
- Add a dose of expertise.
- Don’t keep them (customers) waiting.
- Amp up the personal touch.
What should not be commodified?
Commodification is often criticized on the grounds that some things ought not to be treated as commodities—for example, water, education, data, information, knowledge, human life, and animal life.