___ is the process of turning new ideas into products or processes that can increase profits through greater sales or reduced costs.
A) Product development
B) Process value analysis
C) Commercializing innovation
D) Marketing research
E) Supply chain management

Question

Quizplus · Accepted Answer

Commercializing innovation involves turning new ideas into actual products, services, or processes that can be sold to customers or used internally to reduce costs. This process involves different stages such as research and development, prototype creation, testing, and launch. Its ultimate goal is to increase profits through greater sales or reduced costs. Product development, marketing research, supply chain management, and process value analysis are all important components of commercializing innovation, but they are not synonymous with the overall process.

___ Is the Process of Turning New Ideas into Products