Question

Using complete sentences, compare and contrast the ways that commoditization helps and hurts consumers.

Answer 1

Answer:

Commoditization is a method in which goods or services become almost indistinguishable from  competing offerings over time. Usually, commoditized products within specific categories are so related  to one another that the only distinguishing feature is pricing.

Explanation:

Commoditization serves the human and also damages them. It can help in making their lives simpler  such as the products that are sold in the market which makes the consumers purchase at a cheaper  price. It can ruin their lives also through modernization because through modernization, there are  enhanced technologies that can raise the price of the products in the market. Commoditization benefits  consumers who want goods and services without guesswork and the cheapest possible price. Since  Commoditization controls the global economy, companies compete to create virtually identical products  while providing them at the lowest price. Commoditization hurts customers who want a wide variety of  features and selections from which to choose. They might be able to easily purchase an item, but it might  not be specialized to their liking.

Answer 2

Commoditization helps the human and also destroys them. It can help in making their lives easier such as the products that are sold in the market which makes the consumers buy at a cheaper price. It can destroy their lives also through modernization because through modernization, there are upgraded technologies that can rise the price of the products in the market.