Productize

DEFINITION of 'Productize'

To take a new service, product or product feature - that a company has provided to a single customer or a few customers on a custom basis - and turn it into a standard, fully tested, packaged, supported and marketed product. For example, a person can productize their expertise by putting it into a tangible object by creating a product based on that knowledge.

BREAKING DOWN 'Productize'

An idea, a process, a prototype or an area of expertise can be productized into marketable and salable products. For example, a marketer can write a "how-to" book for new entrepreneurs that would teach them how to market their business, or a web designer can create a DVD series on how to design web sites.

RELATED TERMS
  1. Value Added

    The enhancement a company gives its product or service before ...
  2. Mass Customization

    The process of delivering wide-market goods and services that ...
  3. White Label Product

    A product manufactured by one company that is packaged and sold ...
  4. Customer

    An individual or business that purchases the goods or services ...
  5. Customer Service

    The process of ensuring customer satisfaction with a product ...
  6. Product Differentiation

    A marketing process that showcases the differences between products. ...
Related Articles
  1. Economics

    Understanding Marketing

    Marketing includes all of the activities of a company associated with buying and selling a product or service.
  2. Products and Investments

    How to Create a New Financial Product in 10 Steps

    The 10 steps outlined here are essential to the creation of a new financial product.
  3. Economics

    What's Involved in Customer Service?

    Customer service is the part of a business tasked with enhancing customer satisfaction.
  4. Economics

    Understanding Product Differentiation

    Product differentiation is a marketing tool companies use to distinguish their products or services from the competition’s.
  5. Economics

    Understanding Marginal Cost of Production

    Marginal cost of production is an economics term that refers to the change in production costs resulting from producing one more unit.
  6. Investing

    What's Behind the Decline in Productivity Numbers? 

    There are several theories and hypotheses about low productivity numbers in the American economy. This article examines some of them.
  7. Professionals

    Customer Accounts

    Series 62
  8. Fundamental Analysis

    Vital Link: Manufacturing And Economic Recovery

    Manufacturing output is one of the clearest signs that an economy is recovering from a recession.
  9. Economics

    How Big Data Has Changed Marketing

    Big data has enabled marketers to enhance their customer engagement and customer retention strategies by providing insight into behavior and thoughts.
  10. Entrepreneurship

    The 3 Most Common Demand Mistakes Entrepreneurs Make

    One of the hardest parts of creating a new product is figuring out if people are actually going to want it.
RELATED FAQS
  1. What are some ways a company can expand its product line?

    Understand what a product line is and why it's important. Learn about specific ways in which a company can expand its product ... Read Answer >>
  2. What is the difference between research and development and product development?

    Understand the difference between research and development and product development. Learn why a company would want to invest ... Read Answer >>
  3. How does a customer base dictate goodwill?

    Find out how a customer base dictates the value of the goodwill by providing a ready market for its products and spreading ... Read Answer >>
  4. What are the differences between product bundling and product lines?

    Understand the differences between product bundling and product lines. Learn why a company would want to expand its product ... Read Answer >>
  5. What are the similarities between product differentiation and product positioning?

    Learn how two marketing strategies, product differentiation and product positioning, are similar and work together to effectively ... Read Answer >>
  6. How is a product line depth related to a product line?

    Understand what a product line is and why it's important to a company. Learn how product line depth is related to a company's ... Read Answer >>
Hot Definitions
  1. Return On Invested Capital - ROIC

    A calculation used to assess a company's efficiency at allocating the capital under its control to profitable investments. ...
  2. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  3. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  4. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  5. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  6. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
Trading Center