Defining Commercialization Targets: 6 steps of Market Intelligence & Foresighting
Embracing Market Intelligence & Foresighting empowers businesses to drive successful technology commercialization and achieve long-term growth.
Market Intelligence & Foresighting is a crucial step in the technology phase of product commercialization. By following these six steps - defining research objectives, data collection, data analysis, market trend identification, competitive analysis, and foresighting - businesses can gather valuable insights into customer needs, market trends, and competitive landscape. This information enables informed decision-making, supports the development of innovative products, and helps businesses stay ahead in a rapidly evolving market.
What is the Product Commercialization Process?
Product commercialization refers to the process of introducing a new product or service into the market and making it available for sale to consumers. It involves all the activities and strategies that transform an idea, concept, or prototype into a marketable product. Commercialization is a crucial step in the product development cycle and involves various stages, including market research, product design and development, manufacturing, marketing, and sales.
Five key steps in the commercialization process:
Market Intelligence & Foresighting: providing insights into how businesses can effectively leverage this process to drive successful technology commercialization.
Understanding the importance of the Product Commercialization Process
Ready to Begin your Product Commercialization Project?
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