🎙Dr Roxie Mooney, DBA’s Post

🚀 𝗟𝗮𝘂𝗻𝗰𝗵 𝗼𝗿 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹𝗶𝘇𝗲? 🚀 Do these concepts really mean the same thing? Some people use #launch & #commercialize interchangeably. BUT, they’re really different functions of the #innovation process. Many innovations are launched into the market. Few reach market success & generate a profit! There are 2 key factors between launching & commercializing an innovation: >>> the timing & >>> goal of the initiative. Launch is a small subset of the broader #commercialization process. LAUNCHING is a much smaller scale process. It occurs when the innovation is developed and ready for its first release into the market. Launch: you are harnessing strategies to maximize consumer exposure of the innovation through various promotional strategies & distribution channels. Whereas... COMMERCIALIZATION is the holistic process of converting ideas, research & concepts into viable products that obtain: ✅ consumer acceptance ✅ cross into mainstream adoption ✅ and ultimately generate a financial return on the innovation. Commercialization takes place long before the product is ready to launch AND continues long after its initial release. 🔥Where are you in the innovation process? 🔥 Share down below! ⤵ #digitalhealth #healthcare #futureofhealth