Commercialization product and service Essay Example | Topics and Well Written Essays - 750 words

Commercialization product and service - Essay Example In most cases, there is the existence of confusion between commercialization and sales. While differentiating the two, major consideration is on three crucial aspects. The funnel, which involves the identification of products or businesses that are sustainable in a long time, determines the kind of products and services to put across on the international market. Commercialization as a stage-by-stage process classifies each stage with its own key goals and milestones. Finally, it puts into consideration key stakeholders including customers of the products on launch (Rafinejad, 2007). A number of implications face an organization that seeks to commercialize its products. While going international, an organization has to strategically plan for the challenges, draw its budget and later make a consideration on the opportunities it hopes to achieve by the intended plans. Saxena (2006) advises that proper planning lead to high results and increased levels of sales. Additionally, it ensures that an organization captures its intended market perfectly to increase revenue from the new market. There are instances where companies eying the fruits of globalization have gone ahead to aggressively commercialize their operations, only to make losses. Such incidences, facing companies in the fashion industry and retail chain marketing warrant a proper planning for commercialization. Initially, an organization has to plan for the risks that the organization is likely going to face in the international market. Fierce competition from the existing brands is one of the major implications (Graham & Smith, 2003). As organizations plan to introduce their products in an international market, they have to consider the competition and design ways of countering the existing competitors. One of the main factors to put into consideration is how to counter companies that already have their brands in the target market. Subsequently, the company should device ways and means of capturing this ma rket. While quality of products earns the company brand superiority, it has to ensure that it places it in the minds if the customers such that they prefer it to other brands. As such, any marketing plan that the organization settles on should aim at winning customer’s hearts, which translates to customer loyalty. Budgeting is yet another consideration in the entire commercialization plan. As businesses seek to commercialize their products in the outside market, they have to consider the amount of money they have to spend. First, they have to determine the countries that they wish to introduce their products in. Secondly, they have to determine the number of products to introduce to the market. Subsequently, they have to draw a budget on these expenditures. However, this should be within its budget. The biggest problem facing an organization while drawing its budget is budgeting for the limited resources to achieve high returns and revenues (Saxena, 2006). While drawing a com mercialization plan, an organization has to put into consider three crucial aspects facing its products. The timing of the product, which involves the time of the year and the season, is an important factor to put into consideration. Launching a product in its peak season is the best way in which a company can push its products, while at the