Inthe commercialization process, the product that I am planning toinnovate is Pepsi the new Pepsi will be sugar-free and healthfriendly. The first commercialization practice that I would apply onthe product is giving it a precise definition and acquiringintellectual property protection (Brands&Kleinman,2012). Besides, I would develop a marketing plan for the productafter establishing the target market. Finally, exploring theavailable financing options would be the last stage whencommercializing the product in the food industry (Brands&Kleinman,2012). As a way of ensuring that I have substantial commercializationefforts from product ideation to launch, I would ensure that peopleknow about the new Pepsi, identify proper marketing strategies, and Iwould ensure the availability of adequate resources to launch theproduct.
Thenew Pepsi will face a lot of competition from other dietary softdrinks that focus on health of individuals. People will desire havingthe new Pepsi because it will be health friendly and less expensivecompared to other dietary soft drinks. Besides, the new Pepsi will bereadily available in the market at various retail sizes. Because ofthe new product being sold in the market in different sizes, it willbe possible for customers to easily get the Pepsi whether in small orlarge quantities. However, other dietary soft drinks will providecompetition to the product since they will also be sold in variedsizes. Furthermore, the product will attract consumers in the marketthat desire to have healthy lifestyles. Nevertheless, other companiesdealing with soft drinks can imitate its content for competition.
Brands,R. F., & Kleinman, M. J. (2012). Robert`srules of innovation: A 10-step program for corporate survival.Hoboken, N.J: John Wiley & Sons.