Product Development Point – Conversion from idea to commercialization 1
I will introduce the process from an idea to an actual product.
1. To productize is to commercialize
When a company specifically “productizes” an “idea,” the process up to productization is divided among organizational roles. As long as a company is working for the purpose of making a profit, the point of productization is having “business potential.”
Therefore, to “productize” the “idea” can be said in other words to “commercialize” the “thought.”
Is it worth commercializing? Not only “whether it sells or not,” but also the improvement of corporate image and technology, and the value in intellectual property strategy will be regarded as business value. Although it will not sell much immediately, the development of a product will improve the company’s market image. Peyangu’s super spicy fried noodles, etc. is not aimed at getting a lot of sales. It is assumed that through the expansion of internet media such as YouTube, there will be many new product development factors for corporate PR strategy. In this way, there is the examination of business potential between the idea and productization.
Basically, instead of suddenly considering “productization,” the business value is evaluated first, then the product specifications are decided according to the decided business plan, and the decided specifications will be the specifications of the “new product” that should be developed. Product specifications are decided in consideration of sales prices, distribution channels, sales advertisements, production numbers, etc.
In companies that must constantly release new products to the market, ideas are generally created by the sales planning department or product planning department. Each department is in charge of the work from that point to the release of the product.
In the development of new products in a company, the lineup of the company's products and the corporate image in the market are taken into consideration when thinking of ideas, and it does not mean that you can think of anything as you like. This is because the purpose is the next “new product” of the company, and that is the starting point of the ideas. Gather market information on a regular basis and infer the next market demands (forecast market needs). This forecast serves as the basis for the “ideas” that the planning department comes up with, and then will undergo a thorough analysis of whether or not there is market value accordingly.
In this way, the process of ensuring that the correlation between the developed and designed “new product” and the “expectations demanded by the market,” which is the market needs for selling the product, does not become inconsistent is important. This is an organizational effort and a process that cannot be easily executed in a startup-type development, but it is a process that I would like you to know to recognize the importance of not being inconsistent with the expectations of the “developers” and “users.”