ENTREPRENEURIAL MARKETING
PRODUCT DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Waterfall approach
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Product Development Life Cycle
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Commercialization
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None of the above
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Detailed explanation-1: -During commercialization, the team realizes everything they require to bring the final product to the market, including the sales and marketing plans. The team starts to operationalize the manufacturing and customer support for the product. Commercialization is a methodology to introduce your product to the market.
Detailed explanation-2: -Stage 8: Commercialization. In this stage, the company launches the product, complete with full-scale production, distribution, advertising, and sales promotion. The cost of launching a new product varies depending on the product itself, the industry, and the competition.
Detailed explanation-3: -Test Marketing, Validate (Stage Six) Using market research, surveys, and questionnaire results from customers, the organization can then create a prototype (or multiple prototypes depending on costs involved and capital available) that has the features customers have identified.