The aim of commercialisation is to change the final product prototype into an innovative commercial product that can be launched onto the market. This is still a creative procedure but it is extremely focused so that the marketing is integrated with the production, and finance is making the funds available but controlling expenditure. It is an expensive stage and needs good financial control to ensure that resources are available at the right time and that costs do not overrun.

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Outcomes in product commercialisation

From the product specifications, the marketing strategy and the final prototype
product, commercialisation builds into three important functional plans
(marketing, production and finance) and then into an overall operational plan.
The outcomes from the three plans are combined in an operational plan for the
launch. After the launch there is a review of the final outcomes.
During commercialisation, the knowledge required to formulate these plans has
to be found, organized and integrated. It starts with information from the
product design and process development: product and packaging qualities,
product concept, target market, price range, market channel, physical
distribution, process flow sheet, process conditions, product testing. At this
point, final adjustments are made to the product so that it is acceptable not only
to the consumers but also to the company’s operational divisions, the retailers
and other people in the distribution system. With industrial products, it has to
be acceptable across the different groups in the buying company - product
development, quality assurance, production and buying.

Knowledge required for the marketing plan

The following operating functions are included in the marketing plan:
• market information - market research and analysis, particularly the targets
to be set for the launch and post-launch and the methods to monitor these
• product - product proposition (product concept), packaging, branding, image;
• market channel and distribution - choice, control and development of market
channels, transportation, storage;
• pricing - price range, relation of price to demand, margins, discounts,
specialing;

• promotion - retailer and consumer promotion, advertising, public relations;
• sales - methods of selling, terms of sale, sales reporting, analysis and
forecasting.

Market Information

The aim of information is to provide knowledge of both the consumer and the
retailer as the basis for a successful marketing strategy, and also to predict the
number of units that will be sold and revenue generated in order to set the
targets for the post-launch analysis of the success of the marketing.

(source: https://nzifst.org.nz/resources/creatingnewfoods/about.htm)

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