Introducing a new product into the market is called commercialization. The procedure for introducing a new product to the market for initial sale.
<h3>What is commercialization?</h3>
The process of bringing new products or services to market is known as commercialization. The commercialization process encompasses all aspects of a new product or service's development, distribution, marketing, sales, customer service, and other vital services.
Thus, commercialization is the introducing new product.
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Answer:
Determine how much demand there is for the product. Determine the cost of purchasing the product and how much is affordable. Figure out how much profit can be made off of each item and each order.
Answer:
Some of the factors that influence the supply of a product are described as follows:
i. Price: ...
ii. Cost of Production:
iii. Natural Conditions:
iv. Technology:
v. Transport Conditions:
vi. Factor Prices and their Availability:
vii. Government's Policies:
viii. Prices of Related Goods
<h2>
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Answer:
Journal entries
Explanation:
The journal entries are as follows
On July 1
Prepaid insurance Dr $12,400
To Cash $12,400
(Being the payment is recorded)
On December 31
Insurance expense Dr $3,100
To Prepaid insurance $3,100
(Being the insurance expense is recorded)
It is computed below:
= $12,400 × 6 months ÷ 24 months
= $3,100
Answer:
Freemium would be the answer for the First one.
Explanation:
Freemium, a portmanteau of the words "free" and "premium", is a pricing strategy by which a basic product or service is provided free of charge, but money (a premium) is charged for additional features, services, or virtual (online) or physical (offline) goods that expand the functionality of the free version of the software. This business model has been used in the software industry since the 1980s. A subset of this model used by the video game industry is called free-to-play.
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