Commercialization 2020-05-28 08:00:00

Commercialization

Commercialization involves taking a product or service and making it widely available to a broader audience. For businesses, the goal is to create such products for less than they are sold to the public. Product costs include production, distribution, marketing, sales, and customer support.

Commercialization includes three different stages: The ideation stage, the business process stage, and the stakeholder stage. These stages include brainstorming, deciding if there is enough demand for a product at the right price point, and understanding of the company will be able to benefit its stakeholders by selling the product.

 


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