commodification

Plural: commodifications

Noun

• The assignment of a commercial value to something previously without such value.
• The transformation from being commercialized on a nonfungible basis into becoming a commodity that is fungible.

Examples

• A company that innovates to achieve the commercialization of a technology often must shift strategy some decades later in response to the advent of that technology's commodification.

Synonyms

commoditization#Noun

Related Words

commodify, commodityism, consumerization