commercialisation

Commercialisation is the process of transforming a new idea, product, or technology into a market-ready offering that can be sold to customers. It involves activities like developing the product, marketing, setting up distribution channels, and establishing a business model to generate revenue. The goal is to turn innovation or research into a profitable venture that meets consumer needs and contributes to economic growth. This process requires understanding market demand, managing costs, and positioning the product effectively to succeed in the marketplace.