What is commercialisation

Commercialization can take several shapes — from licensing a technology to an established company or entrepreneur to creating a startup company from the ground up. Learn more about how your innovation can get to market. Still interested in learning more about commercialization? Check out our programs and courses that may be of help to you. Submit Invention Disclosure.

Search for: Search. What is commercialization? Societal Benefit Spanning across areas such as healthcare, environmental, wellness, fitness, education, industrial applications, and simply, day-to-day life, innovations resulting from University research are most impactful when they are in the hands of those who can benefit from them most. Economic Growth Taking innovations to market through commercialization also provides an economic benefit.

Industry Partnerships Commercialization provides an opportunity to engage with industry partners, investors and other businesses. Examples of commercialize in a Sentence The company hopes to commercialize the drug next year. Recent Examples on the Web Scientists and advocacy groups alike have fiercely opposed past iron-addition experiments, over concerns that for-profit companies would patent and commercialize the technology and that the extra iron would trigger blooms of toxic algae.

First Known Use of commercialize , in the meaning defined at sense 1a. Learn More About commercialize. Share commercialize Post the Definition of commercialize to Facebook Share the Definition of commercialize on Twitter.

Time Traveler for commercialize The first known use of commercialize was in See more words from the same year. From the Editors at Merriam-Webster.

Language of Love: Words for Valentine's Style: MLA. English Language Learners Definition of commercialize. Kids Definition of commercialize. More from Merriam-Webster on commercialize Thesaurus: All synonyms and antonyms for commercialize Nglish: Translation of commercialize for Spanish Speakers.

Get Word of the Day daily email! One of the essential parts of the process is deciding where to launch. Companies choose whether to bring their product to a local, national, or international market. They also take into account the resources available, such as operational capacities and capital. Business leaders also conduct marketing research to define their primary consumer group. Companies create new products and services to meet unanswered customer demands. Commercialization enables business owners to develop products with great benefits that people will admire.

They are as follows:. However, these two concepts represent different processes. The two main factors that make these terms different are timing and goals. Product launch is the process that occurs when a product is created and is ready for release. Businesses implement promotional strategies and use diverse channels to reach maximum exposure. When a company launches a product, it has already gone through the idea conceptualization stage. At this stage, companies are ready to bring their product to the audience, and they usually need a marketing partner to present it.

The main aim here is to boost interest in your product and increase customer awareness. Product commercialization is the process that starts before the product is ready. It involves turning certain ideas and concepts into products that will be accepted by the audience and ultimately bring high profitability.

The process involves production, distribution, marketing, and sales. Commercialization enables customers to obtain a wider choice of products and allows companies to generate more revenue, increase efficiency, and reduce costs. They affect the success of a product and a company in general. To succeed, business leaders create a commercialization plan. The commercialization process can be boiled down to six steps. They allow companies to determine production volumes and methods, choose distribution channels, and implement specific marketing techniques.

Many companies launch a lot of various products but only commercialize a few of them.