Page 4: Commercialising ideas
Commercialisation means taking an idea and then getting a product into the hands of paying customers as quickly as possible. This involves many stages, including:
- Prioritise ideas
Each year at 3M, thousands of ingenious ideas and technologyapplications emerge. It is vital to prioritise these ideas and focus on those with the greatest potential for growth and profitability.
- Make a prototype
Typically there will be numerous prototypes, trials and modifications.
- Manufacture the product
Consistent quality for customers has to be balanced with costs, profitability and environmental concerns. Organisations like 3M are committed to continuous improvement, using sophisticated tools and techniques to reduce variation and deliver consistent results to ensure value for customers.
- Market the product
This involves creating the brand identity and positioning for the product.
- Generate sales
By creating the most effective channel to market. This involves distributing products through those channels that most suit the final consumer, eg placing Post-it¨ Notes with local stationers, newsagents and supermarkets.