Innovation – Standardization – Commoditization run along a continuum. Today we unpack some of the ideas that hasten (and prohibit) leading practice discovery; how quickly goods and services become a “human right”; why all of this is relevant to education communities and why some believe that commoditization is a myth.
From the Wikipedia
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 competition to perfect competition. Hence, the key effect of commoditization is that the pricing power of the manufacturer or brand owner is weakened: when products become more similar from a buyer’s point of view, they will tend to buy the cheapest.
— Standards Michigan (@StandardsMich) October 20, 2020