Process Commercialization is often confused with sales, marketing, or business development. The commercialization process has three key aspects: The  funnel.Compare: It is essential to look at many ideas to get one or two products or businesses that can be sustained long-term. Commercialization is a stage-wise process, and each stage has its own key goals and milestones. It is vital to involve key stakeholders early, including customers.   Issues Proposed commercialization of a product can raise the following questions: When to launch: Factors such as potential cannibalization of the sales of a vendor's other products, any requirement for further improvement of the proposed new product, or unfavorable market conditions may operate to delay a product launch. Where to launch: A potential vendor can start marketing in a single location, in one or several regions, or in a national or international market. Existing resources (in terms of capital, and operational capacities) and the degree of managerial confidence may strongly influence the proposed launch-mode. Smaller vendors usually launch in attractive cities or regions, while larger companies may enter a national market at once.Global roll-outs generally remain the preserve of multinational conglomerates, since they have the necessary size and make use of international distribution systems (e.g., Unilever, Procter & Gamble). Other multinationals may use a "lead-country" strategy: introducing the new product in one country/region at a time (e.g. Colgate-Palmolive)  . Whom to target: Research- and test-marketing may identify a primary consumer group. The ideal primary consumer group should consist of innovators, early adopters, heavy users and/or opinion leaders. This will encourage adoption by other buyers in the market during the product-growth period. How to launch: Prospective vendors should decide on an action plan for introducing a proposed product - a plan shaped by addressing the questions above. The vendor has to develop a viable marketing-mix and to structure a corresponding marketing-budget.
Process Commercialization is often confused with sales, marketing, or business development. The commercialization process has three key aspects: The idea funnel.Compare: It is essential to look at many ideas to get one or two products or businesses that can be sustained long-term. Commercialization is a stage-wise process, and each stage has its own key goals and milestones. It is vital to involve key stakeholders early, including customers. Principles The commercialisation of ideas and concepts are typically based on five key principles: Identifying unmet needs in the market Demonstrating proof of concept Protecting the asset (and intellectual property) Establishing strategic partners Creating impact. Issues Proposed commercialization of a product can raise the following questions: When to launch: Factors such as potential cannibalization of the sales of a vendor's other products, any requirement for further improvement of the proposed new product, or unfavourable market conditions may operate to delay a product launch. Where to launch: A potential vendor can start marketing in a single location, in one or several regions, or in a national or international market. Existing resources (in terms of capital, and operational capacities) and the degree of managerial confidence may strongly influence the proposed launch-mode. Smaller vendors usually launch in attractive cities or regions, while larger companies may enter a national market at once.Global roll-outs generally remain the preserve of multinational conglomerates, since they have the necessary size and make use of international distribution systems (e.g., Unilever, Procter & Gamble). Other multinationals may use a "lead-country" strategy: introducing the new product in one country/region at a time (e.g. Colgate-Palmolive) . For digital products however, the physical geographic location has a lesser impact . Whom to target: Research- and test-marketing may identify a primary consumer group. The ideal primary consumer group should consist of innovators, early adopters, heavy users and/or opinion leaders. This will encourage adoption by other buyers in the market during the product-growth period. How to launch: Prospective vendors should decide on an action plan for introducing a proposed product - a plan shaped by addressing the questions above. The vendor has to develop a viable marketing-mix and to structure a corresponding marketing-budget.
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idea
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Principles The commercialisation of ideas and concepts are typically based on five key principles:
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Identifying unmet needs in the market Demonstrating proof of concept Protecting the asset (and intellectual property) Establishing strategic partners Creating impact.
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unfavourable
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. For digital products however, the physical geographic location has a lesser impact