Commercialization plan

Commercialization Plan Guidance for Phase II Applications. Clarify the need addresse specifying weaknesses in the current approaches to meet this need. What is a commercialization plan? How do you write a commercialization plan?

A good starting point for writing a commercialization plan is a clearly written statement that identifies the overall commercial goal of the project. This is your vision of what the product will do to meet a need and whom the project will affect. Define the specific problem or opportunity addressed and its importance. At a high level, clearly state what products and services are being offered to the market.

Identify, at a high level the anticipated pricing strategy at the end-user level and for the expected distribution channels. See full list on channelinstincts. Chris Zook in, Beyond the Core, addresses the concept of Adjacency or the relationship of an opportunity to your core business and competencies. Shared Economics – There are five dimensions that when evaluated and measure the distance from the core and can be used to determine the degree of relationship to the core: 1. Competitors – Are they the same as, or different from, competitors currently encountered?

Cost Structure – Is the cost structure (infrastructure) the same or different? Channels of distribution –Are these the same or different? Identify who is (are) the targeted customer(s) – end-user, big box retailer, distributor, internal business unit, etc. Why is this customer believed to be the real customer? It is toward this customer that the Business Proposition will be initially oriented.

The business proposition describes what the product or service offers that no other product can. It is important that the Business Proposition be benefit focused. For example, Coke quenches thirst.

Coke is also a good rust remover but it will NEVER advertised as such. The Business Proposition should take caution not to over advertise advantages – in other words, DON’T clutter the message. The more focused the message, the more likely to clearly communicate it.

When developing a business proposition think of what people are buying. Buyers want to feel the wind in their hair and the thrill of feeling the force of their heads being pushed against the back of the seat. Unless this product is for a total new and untapped market, customers have choices. Questions to be answered are: 1. Customers buy the SATISFACTION OF NEEDS. Where will the product be sold?

Who will sell the product? This may need to be clarified in later, but initially, choose the logical area(s) that fits in with your Value Proposition. The closer the alignment, the greater the probability of success. The Value Chain and Business Processes must be aligned as close as possible to the Value Proposition. Consider the following: 1. Given the information available, give a high-level assessment of the business potential for the three years after commercial launch.

Try to be realistic, meaning not overly optimistic nor overly conservative. Items to consider are: 1. Gross Margin and Gross Margin as a percent of Sales 3. Operating Income and Operating Income as a percent of Sales 4. Write out what the risks are and rate them High, Medium or Low. Put a few ideas down on how you can mitigate these risk. Viral Gene has completed the phase I clinical trial and is in the process of applying for an FDA approval to conduct a phase II clinical trial.

Expected to be designated as an orphan drug and breakthrough therapy. Early entry into the market is anticipated upon completion of the phase II clinical trial. It is not a case of just launching a product and hoping for the best. You should also state what the pricing strategy is going to be for both distribution channels and the end-user.

How does the product align with your core business? Understanding how closely the product being launched aligns to the business core can determine some of the strategic directions required for the commercialization plan. The closer to the core, the fewer new strategies are required as a lot of the infrastructure would be re-usable. The more diverse from your core the more work is involved in setting up the new infrastructure.

Chris Zook in ‘Beyond the Core’ addresses several things when looking at a product opportunity with respect to the commercialization plan : A. As with any risk analysis, you need to identify all the risks and potential issues that could affect the commercialization of your product. Core – Known business strengths and competencies B. Once the risks have been written down, rate them from high to low and ensure you have risk mitigation actions in place to overcome the risks. One method of generating a risk analysis plan is to follow the steps below (this is pretty close to an FMEA): 1. Risk Description:- Detailed description of the risk 2. Rank the Likelihood of the risk occurring: – How likely is the risk to occur?

Calculate risk value:- multiply the two values to get a risk value 5. Assess risk values:- Assess the risk values. A good way of doing this is with a Pareto chart 6. Generate action plan for all critical risks:- Actions need to be generated that mitigate the risks as best can be 7. Re-evaluate risks after actions are in-place:- Re-evaluation will allow you to review and a. To maximize your chances for success, you need to be thoughtful in developing the strategies behind your new products. Innovations can happen in the commercialization of a product as easily as in the product itself. Think about all the ways you can build upon and leverage your commercialization strategy and you might find your sales teams more engaged in the product launch, your customers understanding what’s in it for them, and ultimately your new product goals being achieved. It will help your company develop and execute on plans and activities critical to commercialization of your technology.

The regimes need to be proactive in nature which means that the vision of having the related healthcare systems within the US medical departments and hospitals should be an ongoing activity rather a one-step, a reactionary move which usually happens from time to time, usually due to one calamity or a catastrophe that hits the particular region within the United States of America. Instead of a straightforward path, it follows a more research-driven approach that minimizes the risk and meets our end goals. Central Illinois is fortunate to have several economic drivers that work in a collaborative effort to move the economy forward.

So your strategy depends are your product or service.