Solution: Commoditization is the process where the things that were not sold in the market before are now becoming a part of the selling and buying process of the marketplace.
There are several examples of commoditization:
- Nowadays one can buy water from the market which has become a commodity . It was not the par of market place since few years back
- There are event managing companies which can arrange weddings and other functions . Earlier it was not a part of market business
- Sale of kidneys by the people who needs money.