New product development in the context of "Commercialization"

Product design is the process of creating new products for businesses to sell to their customers. It involves the generation and development of ideas through a systematic process that leads to the creation of innovative products. Thus, it is a major aspect of new product development.

Research and development (R&D or R+D), known in some countries as experiment and design, is the set of innovative activities undertaken by corporations, wealthy industrialists (such as Alfred Lee Loomis ), or governments in developing new services or products. R&D constitutes the first stage of development of a potential new service or the production process.

Although R&D activities may differ across businesses, the primary goal of an R&D department is to develop new products and services. R&D differs from the vast majority of corporate activities in that it is not intended to yield immediate profit, and generally carries greater risk and an uncertain return on investment. R&D is crucial for acquiring larger shares of the market through new products. R&D&I represents R&D with innovation.

In engineering, a requirement is a condition that must be satisfied for the output of a work effort to be acceptable. It is an explicit, objective, clear and often quantitative description of a condition to be satisfied by a material, design, product, or service.

A specification or spec is a set of requirements that is typically used by developers in the design stage of product development and by testers in their verification process.

Falcon 9 v1.1 was the second version of SpaceX's Falcon 9 orbital launch vehicle. The rocket was developed in 2011–2013, made its maiden launch in September 2013, and its final flight in January 2016. The Falcon 9 rocket was fully designed, manufactured, and operated by SpaceX. Following the second Commercial Resupply Services (CRS) launch, the initial version Falcon 9 v1.0 was retired from use and replaced by the v1.1 version.

Falcon 9 v1.1 was a significant evolution from Falcon 9 v1.0, with 60 percent more thrust and weight. Its maiden flight carried out a demonstration mission with the CASSIOPE satellite on 29 September 2013, the sixth overall launch of any Falcon 9.

Rebranding is a marketing strategy in which a new name, term, symbol, design, concept or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, competitors, and other stakeholders. Often, this involves radical changes to a brand's logo, name, legal names, image, marketing strategy, and advertising themes. Such changes typically aim to reposition the brand/company, occasionally to distance itself from negative connotations of the previous branding, or to move the brand upmarket; they may also communicate a new message a new board of directors wishes to communicate.

Rebranding can be applied to new products, mature products, or even products still in development. The process can occur through a change in marketing strategy or in various other situations such as Chapter 11 corporate restructuring, union busting, or bankruptcy. Rebranding can also refer to a change in a company or corporate brand that may own several sub-brands for products or companies.