Meaning, reasons, advantages and disadvantages of commercialization - SS3 Commerce Past Questions and Answers - page 1
What is the meaning of commercialization?
Transforming a product into a viable entity for profit
Meeting market demands
Generating economic benefits
Why do businesses commercialize their products?
To meet market demand
To generate profits
All of the above
What is one advantage of commercialization?
Increased access for consumers
Reduced financial investment
Elimination of market risks
What is one disadvantage of commercialization?
Ethical considerations
Reduced financial investment
Elimination of market risks
What is the main reason for commercialization?
Profitability
Market research
Cost reduction
How does commercialization contribute to economic growth?
Commercialization creates new job opportunities, generates tax revenue, and stimulates innovation and competition within industries, all of which contribute to economic growth.
What are the risks associated with commercialization?
Commercialization involves market uncertainties and risks such as competition, changing consumer preferences, and other market challenges that could impact profitability.