commercialization
commercialization (n)
English Definitions:
commercialization, commercialisation (noun)
the act of commercializing something; involving something in commerce
"my father considered the commercialization of Christmas to be a sacrilege"; "the government tried to accelerate the commercialization of this development"; "both companies will retain control over the commercialization of their own products"
commercialization (Noun)
the act of commercializing
Commercialization
Commercialization is the process or cycle of introducing a new product or production method into the market. The actual launch of a new product is the final stage of new product development and the one where the most money will have to be spent for advertising, sales promotion, and other marketing efforts. Commercialization is often confused with sales, marketing or business development. The Commercialization process has three key aspects: ⁕The funnel. It is essential to look at many ideas to get one or two products or businesses that can be sustained long-term. ⁕It is a stagewise process, and each stage has its own key goals and milestones. ⁕It is vital to involve key stakeholders early, including customers.
Commercialization
Commercialization or commercialisation is the process of introducing a new product or production method into commerce—making it available on the market. The term often connotes especially entry into the mass market (as opposed to entry into earlier niche markets), but it also includes a move from the laboratory into (even limited) commerce. Many technologies begin in a research and development laboratory or in an inventor's workshop and may not be practical for commercial use in their infancy (as prototypes). The "development" segment of the "research and development" spectrum requires time and money as systems are engineered with a view to making the product or method a paying commercial proposition. The product launch of a new product is the final stage of new product development - at this point advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (in which technologies enter the business world) can lie consumerization (in which they become consumer goods, as for example when computers went from the laboratory to the enterprise and then to the home, pocket, or body).
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"commercialization." Kamus.net. STANDS4 LLC, 2024. Web. 19 Apr. 2024. <https://www.kamus.net/english/commercialization>.
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