Commercial management is the discipline that both informs and implements business strategy and policies. It informs in the context of testing and aligning market requirement with organizational capability. It implements through ensuring effective and efficient operational procedures that establish and maintain those capabilities.
In going to market, any product or service must be supported by performance commitments that are relevant to its customers and consumers. Those commitments may be specific to the product or service (for example, price, delivery, maintenance and support) or generic to the organization (for example, brand values, ethical standards or regulatory compliance). Commercial management is the process through which required performance commitments are gathered, assessed and reconciled, taking account of the needs and interests of all relevant stakeholders and ensuring their affordability and sustainability.
A commercial manager is someone whose primary role is in the management or execution of such opportunities or projects.