Commercialization strategy is a comprehensive plan that outlines how a product or service will be brought to market and monetized, encompassing various activities from product development to sales and marketing. It involves identifying target markets, establishing distribution channels, developing pricing strategies, and ensuring regulatory compliance, among other key aspects. 

This video explains the importance of a commercialization plan in NIH SBIR/STTR grant applications:
Here's a more detailed breakdown:
1.
Defining the Strategy:
Market Analysis:
Understanding the target market, including customer needs, market size, and competitive landscape, is crucial for tailoring the commercialization approach.
Value Proposition:
Clearly articulating the unique benefits and value that the product or service offers to customers is essential for attracting and retaining them.
Revenue Model:
Defining how the business will generate revenue, such as through sales, subscriptions, or licensing, is a core element of the strategy.

2. Key Components of a Commercialization Strategy:
Product Development:
This involves refining the product or service based on market feedback and ensuring it meets quality and regulatory standards.
Marketing and Sales:
Developing a marketing plan, leveraging various channels, and executing promotional campaigns to create awareness and generate demand.
Distribution Strategy:
Establishing the most effective channels to reach the target market, which could include direct sales, retail partnerships, or online marketplaces.
Pricing Strategy:
Determining the optimal price point that balances profitability with market competitiveness.
Regulatory Compliance:
Ensuring that the product or service meets all relevant legal and regulatory requirements to avoid potential issues and facilitate market access.
Stakeholder Management:
Aligning internal teams, investors, and other stakeholders with the commercialization goals.
This video provides a guide on how to commercialize a product, including initial prototyping and design thinking:

Writing a Good Commercialization Plan: Suggestions for SBIR/STTR Applicants

https://nida.nih.gov/sites/default/files/Commercialization_Plan_Guide.pdf

NIA SBIR/STTR Virtual Workshop: Developing a Competitive Commercialization Plan & SBIR Phase II

https://www.youtube.com/watch?v=5TUtjTqxfHQ