So why would productizing be good for a company?
Well for one typically doing something like this can create recurring revenues, projects like this combined with effective marketing analysis will create a garunteed ROI there by leveraging your risk vs. value proposition.
So how is all of this really done? I believe that if you follow this process this method is almost garunteed. Before we go further though I would just like to make a personal note as I am most know, in life there are never garuntees, so you will never ever see me speak in absolutes!
The objective of undergoing such a marketing campaign and productizing campaign is this:
To identify markets that will need the said certain product, identify number of companies that would use it, how much demand there would be, how much competition in the market there is for that type of product, how much you could sell your product for and ultimately what your total ROI investment would be as well as taking into consideration your risk vs. value.
Using the information developed by the marketings objectives it would then be the productizing responsibility to design the part, analyze all factors for overhead costs like labor, materials, etc. and then develop a report for the risk/value proposition.
Based off of the report you should be able to easily make a decision of whether or not to launch the campaign.