Commercialization

Commercialization,

Definition of Commercialization:

  1. The process of managing or running something principally for financial gain.

  2. Commercialization is the process of bringing new products or services to market. The broader act of commercialization entails production, distribution, marketing, sales, customer support, and other key functions critical to achieving the commercial success of the new product or service.

  3. Stage in product development process where the decision to order full-scale production and launch is made.

  4. Typically, commercialization occurs after a small business has grown and scaled its operations and reach levels that allow it to successfully reach a larger market. For example, if a small bakery is known for its cinnamon rolls and has sold them with great success, it can commercialize its products by selling the packaged cinnamon rolls to local grocery stores, where others can buy the pastries and the bakery can increase its sales by multiple factors.

How to use Commercialization in a sentence?

  1. The escalating commercialization of athletics.
  2. The commercialization process allowed us all to see that our thousands of man hours had not been spent in vain, and our product would soon be available to the people we created it for.
  3. The commercialization engaged in by the region was accelerating at an astonishing rate so the corporate influences were changing the region.
  4. We would have to perform some commercialization duties if we wanted to sell way more than we were currently selling.
  5. The broader act of commercialization entails production, distribution, marketing, sales, customer support, and other key functions critical to achieving the commercial success of the new product or service.
  6. Commercialization requires a carefully-developed three-tiered product roll-out and marketing strategy, that includes the ideation phase, the business process, and the stakeholder stage.
  7. Commercialization is the process of bringing new products or services to market.

Meaning of Commercialization & Commercialization Definition