Commercializes refers to the act of managing or controlling something to produce profit, or make it available for sale in the market. It involves transforming an idea, invention, discovery, or product from a concept or prototype into something that can be bought and sold by consumers. This process often includes branding, marketing, distribution, and the creation of a business model to generate revenue. Commercialization implies a shift from a non-economic or limited application to a widespread, profit-driven enterprise. It may also include the introduction of a new product or service into the market, or the refinement of an existing offering to make it more marketable and commercially successful.
Commercializes meaning with examples
- The company aimed to **commercialize** their revolutionary battery technology, investing heavily in manufacturing and distribution. They needed to scale up production and build a strong brand to capture a significant share of the rapidly expanding electric vehicle market. The key was transforming the research breakthrough into a product consumers would readily adopt, complete with a competitive price point.
- Entrepreneurs are constantly seeking opportunities to **commercialize** their innovative ideas. Their main challenge often lies in securing funding, developing a solid business plan, and navigating the complexities of intellectual property rights, particularly with a clear and concise value proposition in the market to attract customers.
- The government decided to **commercialize** the public utilities, believing that privatization would lead to greater efficiency. This shift meant inviting private companies to manage and operate water, electricity, and other essential services, potentially raising concerns about access and affordability for all citizens.
- Authors frequently **commercialize** their books through adaptations, merchandise, and marketing efforts. Selling rights for movies and video games is a crucial part of their revenue. Their success depends upon creating a following of fans that will look out for their work.
- The scientific breakthrough was a significant achievement, but the team struggled to **commercialize** it, lacking expertise in business development. Securing partnerships, navigating regulatory hurdles, and the initial capital requirements were difficult to deal with. The success rested on bridging the gap between research and practical application.