AcknowledgmentI more data-driven version of ideation. In this phase,

AcknowledgmentI would like to express my sincere gratitude to my supervisor, Dr Marcus Koh who in spite of being busy with his duties, took time out to listen to me, guide and gave me his support throughout this industry immersion programme, He also gave me a chance to obtain new skills and faces new challenges while working with Dr WHO Global WaterTech. I have gained lots of knowledge regarding product commercialisation and product development. I would also like to thank my Liaison Officer, Adreus Tan who has given me this opportunity to be attached to Dr WHO Global WaterTech for my Industry Immersion Programme. It was a pleasant journey to be under him. 2. IntroductionProduct Commercialisation is the process of introducing a new product into the market. The actual launch of a new product is the final stage of new product development. 1 However, before any product can be introduced to the market, there is the new product development process. A traditional new product development process has five main processes, which includes conception, research, analysis, development and launch. These are the common procedures concerned in production. 2 In this report, the five main processes will be further elaborated into small steps. The objective of product development is to cultivate, maintain and increase a company’s market share by satisfying a consumer demand. Not every product will appeal to every customer or client base, so defining the target market for a product is a critical component that must take place early in the new product development process. 3 2.1 Idea Generation and ResearchThe new product development process starts with idea generation. Idea generation refers to the continuous and systematic quest for new product opportunities, including updating or changing an existing product. It requires brainstorming possible new products or new ideas. Once an idea has been identified as a prospective product, a more formal product development strategy can be applied. Thus, this stage involves comprehensive brainstorming processes. After getting a new idea, the next step is to assess the market. In order to assess the market, researching is important so as to see if anyone has the same idea. If someone has the same kind of idea but their ideas fails, look at their ideas or products and see if anything can be improved on. Research entails a more data-driven version of ideation. In this phase, the initial project is often adjusted to fit realistic market needs. 2.2 Analysis and Alpha Testing Analysis is more like further developing the new idea and seeing if the new idea can be developed into a new product. If it can be developed into a new product, the company will need to know if the new product is commercially profitable or not. This step is necessary because it can further narrow down the new idea, so as to ensure maximum feasibility. These ensure that the project can be properly developed and implemented. This sometimes includes creating a marketing plan to improve possible sales. 2 Feasibility analysis yields information that is critical to the product’s success. It entails organizing private groups that will test a beta version, or prototype, of the product, then evaluate the experience in a test panel. This feedback communicates the target market’s level of interest and desired product features, as well as determines whether the product in development has the potential to be profitable, attainable and viable for the company, while satisfying a real demand from the target market. After analysing if the new product is profitable and viable for the company, the next step is alpha testing. Alpha testing is conducted within the organization and tested by representative group of end users at the developer’s side and sometimes by Independent team of testing. 4 Doing an alpha testing will help the company to find out if the new product and the methodology of the new product is effective or not. It will also help the company to validate the products’ concept. At this time, the company should work out any technical issues with the product. 2.3 Patent After validating the products’ concept and making sure that the product is effective, the next step is to file a patent for the new product. A patent provides its owner with the right to exclude others from exploiting the patented technology, including, for example, making, using, or selling the patented invention. 5Filing a patent is important because it enables the patent owner to recoup development costs and obtain a return of investment in the development of the patented technology. Effective patent protection stimulates research and is a key requirement for raising venture capital. Some other benefits of a registered patent on a new product, are that it can prevent other companies from exploiting the new product and it can also be licensed to third parties for commercial returns. In order to file a patent, the first step is to make sure the new product qualifies for patent protection. After verifying the product qualifies for patent protection, do a thorough patent search to ensure the new product is new and one of a kind and that no one has patent this kind of product before. 6 After checking all the previous essential steps, create a provisional patent and sent it to a lawyer. The provisional patent should include abstract, field of invention, summary of the invention, brief description of drawings, detailed description of the invention, like the procedures or necessary materials required, any results and lastly, the conclusion of the invention. 2.4 Trial Production The last step in the new product development process before launching is Trial Production. Trial production is like a small scale production, where the company will only use small amounts of resources to fund the production. The purpose of a trial production is to validate the entire concept, from marketing angle and message to packaging to advertising to distribution.3 Every step of the trial production is evaluated and refined if necessary. By doing a trial production and testing the entire package/procedures before launching the new product, the company can vet the reception of the product before a full go-to-market investment is made. Doing a trial production can also let the company employees have a feeling of how it will be like to work with the new product and how they are supposed to contribute to the new product. If the new product is successful in the trial production step, then it will be introduced on a large scale. However, if the product fails in the trial production, then the company will need to find out the reasons for its failure and make necessary changes in the new product and do another trial production. If the new product fails in the trial production step again, then the company will have to reject it. 7Thus, doing a trial production is important as it reduces the risk of losing too much money. It is a safety step although it can be time-consuming and requires manual labour sometimes. However, It must be done especially for costly products. 2.5 CommercialisationThe final stage in the new product development process is commercialisation. Commercialisation means introducing a new product into the market. All the data obtained throughout the previous stages will be used to produce, market and distribute the final product to and through the appropriate channels. At this point, the highest costs are incurred and the company may need to build or rent a manufacturing facility. Large amounts may be spent on advertising, sales promotion and other marketing efforts in the first year. 8 This is essential because refreshing advertisements during this stage will keep the product’s name firmly supplanted into the minds of those in the contemplation stages of purchase. 9 3. Limitations 4. ConclusionIn conclusion, there are many steps in a new product development process. However every step is equally as important, because if there is no research, the company will not know if other companies have the same idea as them. If they do not know this point, they might infringe the patent rights of another company’s existing invention. Product development is an always-evolving and fluid process, and just as some steps will change, depending on the nature of the project, so will the person who manages product development. In some organizations, there is a dedicated team that researches and tests new products. However, for smaller organizations, they may outsource their new product development to a design team. Regardless of what framework is used and who is in charge of the new product development, the new part is just one aspect of the entire product lifecycle management.