Innovation in Business: A Case Study of Essence Drinks

This presentation discusses the challenges faced by Essence Drinks while launching a new fruit juice in the market. It explores the company's strategies for innovation and growth, including market research, risk assessment, and funding options. The presentation also covers tools such as patents, copyrights, and trademarks that can help organizations protect their products.

Innovation
Business

Table of Contents
Introduction
Main body
Background of the company :
The issues and challenges faced by company while launching new products in market :
Perusing of ideas for new items :
The industry funnel is use to solve the issues:
Risk assessment :
Funding for business :
Schemes for determining the efficiency of a new products :
Tools to help the organisation :
CONCLUSION
References

INTRODUCTION
 It is technique which have new and exciting
business ideas that are more likely to influence
venture capital investment. Goods innovation
refers to new and importance developed goods.
The innovation can include making the same
goods with better sources or a new good that
eco-friendlier. In this presentation report will
be consider the essence fruit drink which is
launching new juice in the market.

Background of the company
 The London essence company is the UK based company which
deals in fruits juices and many others this is the juice. The company
provides the varied kinds of juices and drinks with fruits pulps and
quality fruits juices. The company was founded in 1896 on the
banks of themes, the London essence company developed an
unmatched knowledge and expertise intense essence for the other
companies, who provides the sources to manufacture the goods. The
use of traditional method fuels the creative activity of light and
foppish drinks for the 21st century, thanks to a successful collection
of condense essences and a little creativity, as well as some expert
sign from an amount of starring bartenders. The effect is a scope of
cautiously graduated mixers with a modern edge – tonics, gingery
and salt soda that are naturally low in Calorie, include no artificial
sugar, and perfectly inclined to work with a wide extent of premium
spirits, or to create a keen drinking education on their own.

The issues and challenges faced by company
while launching new products in market:
 While launching a new taste in
market the company faced a lot of
issues just as people were least
interested for moving on to the new
taste or flavour. As people are used
of the old taste and base flavour of
the brand. The people thinks about
the quality and other things that is
used in manufacturing the drinks

Perusing of ideas for new items:
 While producing the new item company is required to
do a proper research and market study so that they can
have an idea before launching a goods. Essence drink is
planning to launch a new flavour of fruit juice as they
were already producing the many flavours just as apple,
litchi, lemon and many others now they are planning to
launching a juice of mango flavour with soda which will
be beneficial for people as it will be good for health and
even small kids can also use that drink easily. The
company have planned to spread awareness of the
products through social media campaign and providing a
sample product so that people can taste a goods.

:
The industry funnel is use to solve the issues
 The another objective of the company is
to grow the brand market segment. The
company individual leads make a
mango drinks. Basically, the company
assumes to grow its goods variety by
considering creativity into its
production as well as supply network.
Due to the company does not anticipate
to expand indefinitely, it is providing
the sources to expand its product line.

Risk assessment:
 A potentially managing participated research
and analysis possible events which can effect
particularly and properly and additionally the
biological system, along with that easy
discussion on the business supply network on
the investigation the impact during including
attractive factors. It is a process of
identifying possible cause which can occur if
a risk happens. A business effect analysis is
the procedure for analysing the capable
effects outcomes from the interruption of
time sensitive or critical business process.

Funding for business:
While expanding a business company requires
a lot of amount to invest in company so some
of the factors which helps in investing capital
which is listed in below -
 Bank loan - the financial institution helps
the company to overcome from the loss by
providing a funds in marketplace.
 Investors – These are the people who
invest in the business to have high resturn
on investment.

Schemes for determining the efficiency of a new
products:
 Some of common things which is used to
evaluate the new products so that company can
analyse will product be liked by people or
customers of the brand. The testing will have
been assisting in making decisions how much
things contain in juice or drink. This testing will
be actioned to decide the presence of any possible
risks of medical section or stabilizers. Observing
just a position will be improved.

Tools to help the organisation:
 Patents
 Copyrights
 Trademarks
These three factors that restricts other company
not to copy them easily them or their products.

CONCLUSION
 It is concluded from above report that improvement is a costlier impression
that includes to a goods that has been completely aligned to the company
operations. As been discussed in above report that company is planning to
launching a new fruit juice and drinks in marketplace. Essence drinks wants to
expand deals of a products that has been reducing for the current years and
outline in a huge customer base via an assortment of policies. As well as
moving in shifts via the four principles of marketing and researching into
thrifty development. To warrantee long haul contribution and market
existence, the company will improve at a huge rate relatability.