Turning an idea or concept into a marketable product or service and generating revenue requires careful planning, execution, and ongoing analysis. By understanding the various productization and monetization strategies and implementing them effectively, businesses can create sustainable revenue streams, achieve growth, and remain competitive in their respective markets.
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Once a product has been created, the next step is to monetize it. This involves developing a pricing strategy that accurately reflects the value of the product while also being competitive in the market.
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