Explanation:

A homogeneous product is one that cannot be distinguished from competing products from different suppliers. In other words, the product has essentially the same physical characteristics and quality as similar products from other suppliers. One product can easily be substituted for the other. To a buyer, this means that you cannot tell the difference between a product from ABC Company and one from XYZ Company.

When you are shopping for a product that happens to be homogeneous, that means all versions of the product serve exactly the same purpose, and you aren't likely to care which one you use. Therefore, if you were shopping to buy the 'best' product, the only difference would be price. The term is usually applied to agricultural products, and metal and energy-based commodities. For example, when you buy a bag of green apples, you likely don't know where they came from or who grew them, and you probably don't care. You base your selection on price alone.