Innovation and Commercialisation in Jaguar Cars

This report discusses the innovation and commercialisation strategies used by Jaguar Cars, a British multinational car manufacturer. It explores the differences between innovation and invention, and the 4Ps of innovation. The report also examines how Jaguar implements the innovation funnel and frugal innovation to stay competitive in the market.

Innovation and
Commercialisation

Table of Contents

INTRODUCTION
Commercialisation refers to the procedure through a new goods and work can be
introduced in general market. Whereas, innovation is totally based on imaginative thoughts, fresh
ideas, new think in the form of method. Along with this, it is applicable to know about better
solutions in order to meet customers requirements along with existing needs of market.
Therefore, innovation takes place in a unique way in order to applying unique goods, services,
technologies and process that are available to markets, society and government as well. On the
behalf of innovation and commercialisation a business and a firm is able to achieve its targeted
goals at marketplace (Polzin, Flotow and Klerkx, 2016). This reports is based on Jaguar Cars
which is a British multinational car manufacturer brand, its headquartered in England, UK. It
was formed in 1945 by Jaguar Land Rover and serves its overall services globally. Further
discussion will be based on identifying innovations and differences between invention and
innovation. After this various kind of innovation, along with scope of methods for protective
thought to interpret their pros and cons will get covered.
TASK 1
Within the competitive scene, innovation is very crucial aspect into the every business
and firm which is generally used to fulfil consumers needs and demand in a corrective manner.
In context with Jaguar, in order to make luxurious cars they mainly used heavy and high quality
of engine in a different ways by which they can develop better image of their car models and
able to influence people to grab customer's attention in an appropriate manner. As they always
acquire high techniques and tools which is very helpful for them to accomplish targeted goals
and verifiable in a decent manner (Amponsah and Adams, 2017). There are assorted form of
innovative terms which is mentioned below in context with respected organisation:
Innovation:
The procedure of translating inventions or ideas in product and services develop effective
value and for customers will pay is known as innovation. In order implements on proper
innovative ideas, that must be replicable on economical expenditure and must be satisfy a special
needs and wants. Therefore, innovation is generally involves several application of information,
creative thinking and initiatives in order to share so many values from available resources to
make good process of business by which new thoughts and idea can be developed and it will turn
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into the useful products appropriately. Therefore, innovative process is most important aspect for
firms and businesses to grab large figure of customers attention and attract them towards
innovative products. For example: If Jaguar bring innovative thoughts within its manufacturing
process like engine with huge power, it can be the best way to produce innovative product at
marketplace and it helps them to grab customers attention in a broad manner (Abdul Razak and
Murray, 2017). Therefore, it is necessary for firm to have this types of innovative key elements
effectively.
Invention:
It refers to the different types of methods and processes by which firm can produce their
items within existing market (Do, Mazol and et. al., 2018). It is helpful and unique to give better
solution to the firm in order to target huge customers by applying inventions in their work
appropriately. With the help of this they can achieve better position in marketplace. For example:
Now a days, Auto mobile industries are selling modern cars by applying high skilled innovative
techniques in order to attract customers. For this they always bring invention into their work
which attracts customers and make their entire products effective. Therefore, these assorted
industries are famous which provide their services worldwide.
Difference between innovation and invention
Basis of difference Innovation Invention
Meaning It mainly occurs if someone
improves on contribution with an
existing product, services and
products as well.
It can be explained as the
development of product of gives
introduction of a process for the
very first time.
Concept It is an applicable execution on
assorted thought.
It is totally based on realistic ideas
and thoughts.
Activities It is a broad process across the
firms and business.
Invention always has minor scope
to conduct R&D.
Skills In order to apply innovative tools
it needed huge technical,
strategical and marketing skills.
Invention always required to have
scientific skills.
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From the above description it can be said that, if Jaguar launch its new products within
the existing marketplace by applying innovative and invented ideas then there are are different
benefits for Jaguar they can get unique and better experience within the automotive sectors by
which they can reach on their hire level of quality and able to increase its sales every year. Along
with this in order to apply innovative thoughts they used effective mile coverage with
complementary scheduled maintenance plus extraordinary Jaguar in control remote along with
protect technology (Kergroach, Meissner and Vonortas, 2018). This type of innovation makes
every functions attractive into the organisation that attract customers and encourage them
towards purchasing their cars. Herein, invention also plays important role by which respective
firm is able to evaluate entire market situation with the help of using unique tools and strategies
to achieve its targeted objectives and goals in an befitting mode.
Jaguar company deals with high luxurious cars model across the globe and mainly target
reach person and those customers to whom they can purchase its overall services towards
achieving goals and objectives in an appropriate manner. Therefore, employees and employer
plays important role into the firm which is helpful for firm to gain better success at marketplace
by applying effective vision and goals in an appropriate way. That's why both employee and
employer always considered as an essential aspect of firm which set their target towards
increasing value of this brand as well as productivity at marketplace. Therefore, firms should
have appropriate and clear vision and goals in order to achieve unique brand identity. So that
managers and leaders also plays good role in the firm and help to achieve target towards product
and services for the betterment of future.
On the basis of clear vision company is able to gain competitive advantages by facing so
many difficulties during the business. Along with they always want to produce high performance
technological luxurious cars in order to give huge satisfaction to people in an appropriate manner
(Mattila, 2017). Therefore, vision of this company is clearly mentioned that offer different types
of car models.
Jaguar always have innovative leaders from the starting of their business in the world. As
this firm inspired by so many legends like Sir William Lyons, Malcolm Sayer and so on.
Therefore, they generally focused on future brands as well as productivity of firms in an
appropriate manner. Therefore, this firm has good leadership as well as effective team of
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members by which they can manage their business in an appropriate manner. So that leaders can
shape their vies and thoughts in a innovative way and able to commercialise those aspects.
Whereas, team work consist highly skilled and knowledgable people who already have
clear goals and those goals are mainly decided by firm so that people/employees follows
direction accordingly and able to give their best performance to achieve their target. Therefore,
within the Jaguar, teamwork always brings high innovative techniques by which firm can easily
launch their new product at marketplace by gaining huge advantages.
From the above mentioned factors this can be said that, all are helpful for firm to
introduce innovative products into the market (Ahn, Minshall and Mortara, 2017). Therefore, it
is possible for them to follow task culture which is more helpful for company to make effective
team as well as product by applying innovative tools that also make effective commercialisation
as well.
There are numerous amounts of origins of change that help in bringing in new and unique
ideas that not only help the management but also help in the overall growth of the organization
by building a brand name. In context to Jaguar, the company has made a lot of efforts in coming
up with new and innovative variations in their product portfolio to attain a competitive edge over
competitors and gain customers' loyalty.
Hoque, Chishty and Halloway in 2011 stated that innovation assists businesses in taking
constructive and practical actions with regard to their products and services. Keeping this
statement in mind, Jaguar has been able to generate a strong and powerful influence on the
market in order to lure different segments of customers and motivate them as well (Nabulsi,
2017).
TASK 2
This model was given through Joe Tidd and John Bessant. In order to analyse area where
firms are needed to improve, there are 4P's of innovation, those are given below:
Paradigm: According to this first stage, Jaguar use innovative tools in order to run its
business in a smooth way. With the help of changes they can bring innovative models in their
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cars and able to provide more luxurious cars to customers. It takes firm to high level (Monotti,
2017).
Product: In this second stage firm is able to find several questions like how can they
improve their services and goods and so on. In relation with Jaguar, they have large number of
car models and started to launch new products in existing market.
Process: In this third stage, firm thinks about all steps like what they are supplying,
hiring people etc (Isomursu, Wallin and Jaekel, 2016). herein, Jaguar includes in manufacturing
process as well as distribution process to increase its sales within the competitive market.
Position: In the last stage firm seek that where they should target towards offerings.
Therefore, Jaguar opened new segmented market by which they can target easily based on
gender and age. By selling different cars model in market increase overall brand value in a
perfect way.
Illustration 1: 4PS- exploring the innovation
Source: 4PS- exploring the innovation, 2018
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Innovation Funnel: To create fresh process and product innovation funnel take place by
which firms can meet consumer's needs and wants. This approach is mainly used by firms to
create innovative plan as well as set of action. Along with it is used by Research and
Development department so that products can be identified or idea can be choose and final
product canful be actuation into the market. Jaguar can use few phase of innovation funnel to
bring changes, those are as given as follows:
Idea generation: It is related with R&D section, where so some thought are related with
innovative aspects in order to develop effective product and services through scanning
opportunities and challenges within the internal and external environment. Therefore, it is
necessary to solve every issues into the firm (Naughton and Foss, 2019).
Concept investigation: It helps to screening ideas in order to meet organisational needs
and wants at marketplace. Therefore, these sorts of idea and thoughts mainly tasted by
consumers in order to implementation on better ideas.
Feasibility study: It refers to the study of profitability in order to examine economic and
technical feasibility has been tasted. Along with opportunities and risk are related to new product
in order to define successful ideas at business place (Proff and Fojcik, 2016).
Development stage: Idea is formulated into innovative goods and new goods can be
launch in the market.
Post release phase: According to this stage action are collected from custom-made so
that changes can be brought within the goods and employment.
It describes about various goods and services which is used by firm to pull ample figure
of customers by applying average cost (Loya and Rawani, 2016). This is known as frugal
innovation and it brings new approaches which is not much expensive and increase business
value. In reference with Jaguar they are using this type of innovation in order to satisfy their
clients needs and wants. Along with this they can grab lots of opportunities in business market in
order to analyse different opportunities in market. There are some principles of innovation
frugal, those are going to be discussed below:
Principles of Frugal Innovation:
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Engage and literate: According to this step, there are different types of policies which
shows current situation of firm towards work. Herein, Jaguar required to have so many changes
as per the consumers demand.
Flex your asset: It explains that company should work with those strategies which can be
implemented on work before knowing overall situation of market.
Create sustainable solution: Within the world, there are huge competition between
firms so that Jaguar is required to have unique strategies in order to grab better opportunities in
marketplace (Lin, 2018).
Shape customer behaviour: Consumers are the key elements of each and every
business, so herein, Jaguar is able to create so many policies and those sorts of documents which
can make them attractive in front others.
Co-create value with presumer: It is based on specific business work by which
customers are able to analyse that product is good or bad in to the market (Quimba, Albert and
Llanto, 2017).
Make innovative friends: It is essential feature for the Jaguar which directly affect
people and society, with the help of this business can achieve its targeted goals and growh
successfully.
Innovation funnel involves all the steps involved in the making of a product or a service.
Innovation funnels are broadly used by various organization. Jaguar implements the concept of
innovation funnel through taking in a wide range of inputs, gradually filtering them and finally
selecting the best suited idea (Alonso, 2017).
Frugal innovation is the procedure wherein the complexities and the cost of producing
goods is reduced. Every employee in the organisation has different ideas and managers at Jaguar
select the best and the most innovative ones to be implemented. This in turn helps the company
to reach out to its customers in a positive manner and build a long term relationship as well.
TASK 3
A commercial funnel can be described as the processes that brands take their customers
through during their purchase of a product. With the use of a commercial funnel, Jaguar has been
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able to reach out to new customer segments and in convincing them to purchase their products. A
commercial funnel involves various elements each of which is used in creating an impact on the
customers during their purchase of products. The importance and benefits of of a commercial
funnel are explained below in context to Jaguar in picking up right strategies and building a
strong bond with the customers (Szutowski, 2019).
New Product Development or NPD is referred to a process of developing a new product
by the firm. Developing and introducing a new product in the market helps companies in
generating revenues and more profits as well as increasing their overall sales. Jaguar is coming
up with the launch of Jaguar E Pace which will not only help the brand increase its sales but also
earn profits at the same time. Steps involved in developing a new product are explained below:
 Generation of an Idea – The very initial step of developing a new product is generating
a new and unique idea, In case of Jaguar, the firm is to launch Jaguar E Pace with new
and enhanced features that will help it gain attention of the customers and therefore
increasing their sales and generate profits.
 Idea Evaluation – This step involves evaluation of the idea that whether the new Jaguar
E Pace will be able to capture the market, attract customers and generate the expected
outcomes. If the idea is evaluated to not being able to generate output, it'll be eliminated
and a new idea will be considered (Lubberink and et. Al., 2017).
 Concept Development – Once the idea is evaluated, it is then transformed into a
concept. With reference to Jaguar, the company will first test the product within a small
customer segment in order to understand their response.
 Marketing Strategy – Various strategies as to how the product will be marketed and
promoted are developed so that the company is able to position the product in the minds
of customers.
 Business Analysis – Various aspects relating to the product like sales, cost, revenue etc.
are assessed so that the organizational goals and objectives are achieved.
 Development – In this step, the development of the product will take place, i.e., Jaguar
will develop the car with the required modifications and engineering.
 Test Marketing – The car developed by Jaguar will be passed through various tests in
order to check its effectiveness and the level to which it can attract customers.
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 Commercialisation – This is the last stage of the new product development is Jaguar
launching the product in the market in order to achieve organisational goals and
objectives (Pachura, 2017).
Business case: It refers to the properly structures document which is used to identify
details reasons for starting a project and a specific task. Along with it is helpful for firm in order
to take proper decisions to achieve goals and objectives by that project. Herein, Jaguar needed to
develop a business case so that they can easily produce its goods into the existing market by
applying innovative aspects which will satisfy all over needs and wants of customers. There are
some way including investing money, mentioned in beneath:
Executive summary: It shows brief detail about business plan which also gives
explanation of business and its target market. This step has been taken for solving different kind
of problems and it highlights financial status at marketplace. So that investors can easily
understand that business is most essential.
Background: Jaguar formed in the year of 1935 within the England UK. Along with this
firm is produced by Jaguar Land Rover which aims to provide best luxurious cars to their
customers which is mainly designed with high performance technology.
Vision: This statements define is to foster an environment which authorize employees
and promote relationships, innovations and growth. Along with its inspires consumer's
confidence through supplying a transparent atmosphere along with they also offer goods
individually (4PS- exploring the innovation, 2018).
Opportunity in market: As they provide high Aluminum Architecture in several shapes
and colors so that they have more opportunities to expand its business globally.
Need that the innovation will satisfy: Jaguar is propulsion Lightweight Aluminum
Architecture with different colors. This they can supply better cars to their customers and able to
attract large number of customers in a proper way.
Competitive edge: By applying high techniques can develop competition for the other
companies at marketplace.
How will product meet that need: Aluminum Architecture can easily attract large
number of customers so that product can meet consumer's needs.
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Size and growth possibilities: Innovative aspects will maximize sales of Jaguar by 30%
every time and able to fulfill customers needs and desires.
Target market: Jaguar target all over the customers globally and will follow promoting
strategies like advertising through online websites, TV and aids etc.
Promotional strategy: In order to promote its product Jaguar use online aids, hoardings,
TV, provide discounts and so on.
Strategy: They generally used premium pricing strategy to sell its entire products within
the marketplace (Mohalajeng and Kroon, 2016).
Funding: According to this, fund is collected by business in order to introduce few
improvements within the new products and that attracts large number of customers which also
enhance sales. Herein, Jaguar mainly gained its fund by bank loans which is offered by bank to
business with the help of returning policy which is needed o extend loan. On the other side, there
are another investor who offered money and that can be an entrepreneur and start-ups as well.
 Banks and other financial institutions: This is always considered as an essential
aspect which is used by firms in order take loan from bank. By having this type of
support they can achieve their goals but needed to return their entire loan to band within
given time.
 Friends and family: With the help of this funding Chilly's able to take fund from their
families and friends along with the main advantages of this funding is to firm can easily
return money without fixing any time duration.
In order to measure business performance each and every firm needed to to have assorted
kinds of funding sources so that they can achieve its targeted goals and able to gain competitive
scenario in a proper.
A Business case is a group of the minimum amount of particulars that is required in the
making of a decision to carry out a particular task which in turn will have impact on the
organization's products or customers. Being a large company, Jaguar needs huge amounts of
money in order to implement new technologies that will make the task of achieving their goals
and objectives easier.
Fund Flow statement:
It refers to the statement in order to prepare to identifying several reasons for changing
financial position of an organization between two balance sheets. So that it shows there is inflow
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and outflow of funds sources which involves long term funds and another funds developed from
operations. As per the respected business long term fund sources can be applied in order to adjust
its overall balance by which they can maximize working capital and achieve its desired goals.
Measures of business performance:
In order to measure overall business performance firms and businesses are needed to
have relevant performance indicators such known as metrics which helps firm to measure overall
value and improve overall progress of business to achieve targeted goals and objectives. There
are different types of measurements such as gross profit margin, return on capital, net profit
margin and so on. By having all these assorted measurements business can easily improve its
performance and make every business activity better.
As stated by Peter Drucker, innovation is very useful in its various forms like building a
good image of the brand. In context to Jaguar, the brand has different policies that it follows to
attain its aims and overcome any challenges that might come in the way.
TASK 4
In order to gain competitive scenario there are different types of firms which is generally
used so many techniques and policies in order to influence their targeted customers and market
as well to achieve business profits (Pynnönen, Hallikas and Immonen, 2019). For protecting their
products as well as company image they generally used so many copyrights, whereas,
intellectual property is one of the process which is made by their own ideas and thoughts with
the invention of new designs, names, symbols etc. Therefore, it is easy because no one can use
the same name status and symbol as per the others. In order to known about more on this there
are some tool, those are described below:
Copyrights: This is known as intellectual property right which is generally given by the
owner in order to produce innovative products at marketplace. At the same side if company or
any business entity do not have their own copyright for a particular product then they are not
able to use any goods and services without consulting of their owner. If people will not discuss
about this internally then company can face few difficulties in market and not able to achieve
their targeted goals and it creates competitive scenario at marketplace.
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Patent: It is important tool which is used to describe a relation of product with
proprietor. In relation with Jaguar car organisation, they have unique policies and strategies by
which they develop better and luxurious cars models as per their plan and able to have large
number of customers to gain brand image at competitive scenario. By using patent tool they are
require to renew their policies every after 20 years in order to survive in the market for long
time.
IPO UK:
On the basis of Patent there are few laws which is given by the UK government like
patent practice notice in which they announce that they will bring changes to their practices like
how they can interpret a provision of law which is given by them. Along with they also identify
that how they can handle applications in a proper way. Therefore, respective firm is needed to
follow this law for applying patent tool on Jaguar firm.
The Copyright, Designs and Patents Act 1988, through this, it has been amended there are lots of
organisations which came into force on 1 August 1989 but by amending laws have not been
officially consolidated into a single text. Therefore, this type of document shows copyright
mainly considered as a section of designs and patent act which can be apply on firm to protect
their goods and services in a proper way.
Having a copyright and trademark is essential for all organisations. With reference to
Jaguar, the company has its own distinctive trademark as it makes the brand come up with new
technologies and innovations (Zubielqui, Jones and Statsenko, 2016). Use of innovative
technology has enabled Jaguar to invent and execute new ideas that other brands cannot imitate.
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CONCLUSION
From the higher up mentioned report it has been ended that, innovation and
commercialisation is the best way to reach business at high level. With the help of this different
types of business firm and companies can achieve their goals and objectives through getting
better attention from customers towards its overall goods and services. In this report innovation
and invention has been specified in brief by which Jaguar is able to powerboat fresh products
within the market in order to get huge benefits and better ways to further investment in new
policies. Along with frugal innovation is most unique and appropriate technique which help firm
to make appropriate plan of actions towards achieving goals and objectives by satisfying
customer's needs and benefits. Therefore, with the help of so many changes and techniques firm
is able to implement on those factors which gives them profit and positive outcomes towards
developing more strategies to pull sizeable amount of customer's goals in order to get successful
growth of business appropriately.
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