Commercialization
Commercialization
Commercialization (/kəˌmɝːʃəlɪˈzeɪʃən/), also spelled commercialisation, is a process of introducing a new product or production method into commerce—making it available on the market. The term often connotes especially entry into the mass market (as opposed to entry into earlier niche markets), but it also includes a move from the laboratory into (even limited) commercial production and selling.
Etymology
The term "commercialization" is derived from the English word "commercial", which is from the Old French "commercier", meaning "to trade", and the Latin "commercium", meaning "trade, traffic".
Related Terms
- Market: A physical or virtual place where buyers and sellers meet to exchange goods or services.
- Product: Anything that can be offered to a market that might satisfy a want or need.
- Commerce: The exchange of goods, services, or something of value, between businesses or entities.
- Mass Market: A market for goods produced on a large scale for a significant number of end consumers.
- Niche Market: A specialized market segment which has a high potential to grow or can be developed.
- Production: The process of creating, manufacturing, and producing goods and services.
- Selling: The act of providing a product or service in return for money or other desired goods or services.
External links
- Medical encyclopedia article on Commercialization
- Wikipedia's article - Commercialization
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