Commercialisation

The last stage of new product development is the commercialisation stage, this involves finalising the identified concept, launching the product and interacting with potential stakeholders (Yeniyurt, Henke & Yalcinkaya, 2013). During this phase the products transition from the research and development team to an operating unit of the organisation will occur. Veryzer, 1998 states that during the commercialisation phase there should be a specific focus on analysing the results from the test market phase, adapting the marketing mix and then refining plans within the manufacturing and marketing of the product. Organisations at this stage need to decide when, where and who to market their product to in order to secure success upon release.

Its common during the commercialisation phase for excessive amounts of money to be spent on advertising, however our plans on reducing this cost allow for better production capabilities and potentially a quicker time period before profit, this will be achieved by making negotiations with television broadcasters and governing bodies prior to release of the product, therefore if a deal is secured with a broadcasting company, promotions such as advertising would be primarily led by the broadcasters, mainly through the use of advertisements on their channel’s as they will be using the collision sense technology to heighten the spectacle of the sports events they broadcast and thus increase regular viewers and subscriptions. Once the product has been released there will be a focus on negotiating the usage of the product in large sporting events such as the football world cup, this will help grow the brand as large events mean larger exposure to viewers which will create a bigger ‘hype’ about the product, therefore making it more desirable to other broadcasting companies, allowing expansion to take place.

An identified negative from prior stages is that with the product, organisation and technology all being new to the sports business a large corporation may find a partnership risky, therefore the product will come with a warranty, in addition an option of a no contract trial phase will be open for negotiation with potential partners.


Reference list

Yeniyurt, S., Henke Jr, J. W., & Yalcinkaya, G. (2013). A longitudinal analysis of supplier involvement in buyers’ new product development: working relations, inter-dependence, co-innovation, and performance outcomes. Journal of the Academy of Marketing Science, 1-18.

Veryzer, R. W. (1998). Discontinuous innovation and the new product development process. Journal of product innovation management, 15(4), 304-321.