Opportunity Development and Commercialization

Abstract

This chapter looks in detail the processes of opportunity development and commercialization. It sheds light on how companies develop new products, what strategies are applied to achieve success in this, and what role knowledge plays in the product or service development process. It also shows some key factors such as network externalities and bandwagon effects that impact on the knowledge-based product or service’s market success. Within the commercialization process, we have emphasized on market strategy and its various elements, and particularly, we outlined several important value drivers as we consider that knowledge-based entrepreneurs must pay particular attention to them.