Commoditization — making of product into commodity: the process by
which a product reaches a point in its development where one brand has
no features that differentiate it from other brands, and consumers buy
on price alone (Encarta╝ World English Dictionary, North American
Edition);

"Commoditization"… means the process by which market capitalism
changes things that were previously not regarded as economic goods
into something with a price, and, concomitantly, part of the economy.
Thus, for example, a consultant may find that she is valuing her time
based on her hourly charge, regardless of where it is spent: an hour
watching TV or playing with her children costs $200 in forgone
consulting income. Her time has been commoditized. In another example,
critics of biotechnology and the patenting of genes argue that the
process "commoditizes the genome," turning a fundamental natural
system, the genetic material of a species, into a commercial good with
a price attached to it. ("The Commoditization of Nature", by Dr.
Braden Allenby, former AT&T EH&S Vice President:
http://www.att.com/ehs/ind_ecology/articles/commoditization.html)

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