Execute the Launch
At this point in the growth process, an initial business plan has been developed, upgraded, and approved by business leadership. The work completed to date also defines the nature of the commercialization focus. For example:- If the intent is to bring a new product into an existing market, then the primary work is around launching the new product with an appropriate emphasis on marketing strategy.
- If the intent is to reposition an existing product capability (often with a new business model), then the focus of work is on developing a targeted market marketing strategy.
- If the intent is to enter a new market with a new product, then the emphasis is on developing both a targeted market marketing strategy and a new product launch.
Develop a Commercialization Plan
Develop a targeted market marketing strategy
To whom do you reach out first? How do you position and communicate the innovation? What are your proof points specific to your value proposition claims? How do you set pricing and address pushback?
Field test the upgraded product
How does the final product perform vs. those tested in the development phase? How must the beta users adapt to use the product? How will you support the initial customer trials?
Design a new product launch
How does your launch plan compare to the best in class—the "devil in the details?" How will you handle setbacks? What are your measures for success?
Obtain leadership agreement to proceed to commercialization
How well you develop and communicate steps one through three.
Finally, think launch, not leak. Too many innovations tend to move forward slowly, adding cost, confusion, and early competition. If your work is robust, then action orientation should be the cornerstone of your commercialization.
