Evaluating a Product for Commercialization: A Loose vs. Tight Approach
2.Evaluating a product for commercialization
2.1 Loose Evaluation
2.2 Tight Evaluation
3. Conducting a Competitor Analysis on the Internet
4.Creating an E- Marketplace for the Product selected
When moving a product from the planning stage to commercialization, key considerations include the development of a business model and go-to-market strategy, securing funding, building a team, and developing and validating the product.
Evaluations can help in this process by providing insights into whether the product is feasible and viable, identifying potential risks and issues, and assessing market potential.
E-planning is a tool that can aid in commercializing a product by helping to develop and track milestones, identify resources needed, and create action plans.
Potential risks associated with commercializing a product include failure to gain traction with customers, poor timing, inadequate funding, and execution risk. These risks can be mitigated through careful planning, due diligence, and contingency planning.
Some best practices for successful commercialization of a new product include identifying early adopters/champions, focusing on customer needs/pain points, developing targeted marketing campaigns,and partnering with complementary companies or organizations