The 10 Phases of Modern Commercialization
In the modern business landscape, commercialization is a strategic process that goes far beyond simply launching a product. It encompasses a comprehensive journey that involves understanding market dynamics, making informed decisions, and effectively navigating a highly competitive and hybrid marketplace where competition is inherently international and multi-channel.
Commercialization is distinct from productization; while productization focuses on developing a product to be market-ready, commercialization involves the broader process of bringing that product successfully to market and ensuring its long-term success.
Modern commercialization is more than just productization or sales or just marketing.
Phase #01 - Market insights
STEP 1
EXTERNAL MARKETS
- Markets
- Industry
- Trends
- Competitors
- Customers and mediators
- Technologies
- Localities and cultures
- Legals
- Environmental and Socials
- Political
STEP 2
INTERNARL REALITY AUDIT
- Markets >< Product market fit
- Industry
- Trends
- Competitors
- Customers
- Technologies
- Localities and culture
- Legals
- Environments and Socials
- Political
- Capabilitys and competence
Phase #02 - Competive Advantage
The edge over competitors to create value for the target segments and customers – a solution to get “JOBS-TO-BE-DONE”.
- Customer-centric mindset
- Omnichannel approach
Phase #03 - Strategic Decisions
- Business potential
- Financial goals and value capture
- Market position
- Risk analysis
- Brand strategy
- Internal and external resources
- Channel strategy
- Product strategy
- Service strategy
- Pricing strategy
Phase #04 - Conceptual Decicions
- Target audience(s) and segments
- Ideal customer profiles
- Uses cases
- Brand identity management
- Value proposition statements
- Key Messages
- Omnichannel marketing and sales concept
- Product and service portfolio
Phase #05 - Go-to-Market Plan
- Tactical media plan
- Social selling plan
- Content plan
- Sales funnel plan
- Unified purchase experience plan
- Data management
- Timng
- Measuring (KPIs and OKRs)
Phase #06 - Supply Chain (outside-in)
- Cross-functional value chain
- Business ecosystems, networks, and partners
- Operations and processes
- Technologies
- Data management
Phase #07 - Delivery Chain (inside-out)
- Systems and processes
- Packaging
- Business ecosystems, networks, and partners
- Technologies
- Product and/or service deployment and training
- Maintenance and administration
- Evaluation on purchase procedures
Phase #08 - Execution Plan
- Marketing operations
- Sales operations
- Resources
- Capabilities
- Education
- Timing check
- People and culture
- Governance
- KPIs and OKRs
- Orchestration
Phase #09 - Validation by Piloting and Corrections
- Market validation
- Product fit
- Service fit
- Price fit
- Customer fit
- Marketing operations’ fit
- Job-to-be-done fit
- Orchestration success
Phase #010 - Kill or Scale
- Customers’s feedback
- Overall audit
- Business potential
- ‘Go’ or ‘not go’ decision