Innovation and Commercialisation - Essence Drink Case Study

This report is based on innovation and commercialisation. The report explains the importance of innovation and commercialisation for Essence Drink in comparison with invention, how Essence Drink’s vision, leadership, culture and teamwork can shape innovation and commercialisation, different sources of innovation, and organisation fostering and developing an environment and culture of innovation, the 4Ps of innovation and the use of innovation funnel to examining and shaping innovative ideas, developments in frugal innovation and providing examples of how it is used in an Essence Drink context, and evaluating different tools that Essence Drinks can use to develop, retain and protect knowledge and intellectual property.

INNOVATION AND COMMERCIALISATION
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Table of Contents
Introduction......................................................................................................................................4
LO1..................................................................................................................................................4
P1: Explaining innovation and determining its importance to Essence Drink in comparison
with invention..............................................................................................................................4
P2: Explaining how Essence Drink’s vision, leadership, culture and teamwork can shape
innovation and commercialisation...............................................................................................5
M1: Analysing different sources of innovation, and organisation fostering and developing an
environment and culture of innovation........................................................................................6
LO2..................................................................................................................................................7
P3: Explaining the 4Ps of innovation and explaining the use of innovation funnel to examining
and shaping innovative ideas.......................................................................................................7
P4: Explaining developments in frugal innovation and providing examples of how it is used in
an Essence Drink context.............................................................................................................9
M2: Analysing and applying innovation funnel in Essence Drinks..........................................10
M3: Evaluating the role of frugal innovation in Essence Drinks..............................................11
LO3................................................................................................................................................11
P5 Explaining the importance of commercial funnel and the application of new product
development...............................................................................................................................11
P6 Build an Innovation business case and ways to access funding...........................................13
M4: Building a detailed Innovation Business Case which includes how to measure its overall
effectiveness using appropriate techniques available to test, iterate and improve....................15
LO4................................................................................................................................................15
P7: Evaluating of different tools that Essence Drinks can use to develop, retain and protect
knowledge and intellectual property..........................................................................................15
M5 Present supported evidence-based evaluation of these different tools in the context of the
wider business environment......................................................................................................16
Conclusion.....................................................................................................................................17
Reference List................................................................................................................................18
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Introduction
This report is based on innovation and commercialisation.Organisational innovation means
applying new business ideas for the smooth functioning and practices in the organisation
(Hullova et al. 2019). The processes are made more effective and the existing products are also
improved. To commercialise the products innovation is required. These days’ businesses are
facing a lot of challenges in innovating new products. It is necessary for the business to bring
new and innovative products for the competitive markets of the UK. In this report, the situation
of Essence Drink is taken into consideration.The founder of this company is Akshay Kumar. He
had launched a healthy mango lassi in the UK market. The first year it rapid growth and sales
also increased. However, in the third year, the sales of this healthy drink decreased drastically.
This happened because of the new competitors coming into the UK market. The founder of
Essence Drink knew that innovation is the key to business growth but he didn’t want to shift
from lassis. I have been appointed as a junior brand strategy innovation consultant to understand
the situation and provide recommendations for the improvement in the company.
LO1
P1: Explaining innovation and determining its importance to Essence Drink in comparison
with invention
Innovation is the process of representing new ideas and trends. Many activities are performed in
innovation so that new products can be made. Innovation comes with creativity. Here people
have to think out of the box to enhance a product.Innovation is very important for companies
these days as it creates great opportunities so that companies can survive the market situation
(Jensen et al. 2016). It gives growth to the economy and success. Original concepts are
developed through innovations. The current problems of the companies can be easily be solved
by innovation process. There are four types of innovations and they are Incremental,
Architectural, Disruptive and Radical.
However, innovation is different from invention. In the case of the invention, it is the idea that
has never occurred for a particular product. Here the product is completely created and it is
original in nature. The company needs to have scientific skills for an invention. But in the case of
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innovation, the new product is not created (Muthukrishna and Henrich 2016). Modifications are
done in the existing product. The skills required in this case are technical, marketing and
strategic. The activities of innovation are spread across the organisation.
Innovation is of much importance when compared to the invention. There are many reasons why
companies are taking the innovation process. Developments for companies are creative in nature.
The company can also see growth and new trends can be set through innovation. The company is
gaining improvement and they also get sustainability. Just by rebranding, the product people get
attracted. Creativity gets increased through innovative business ideas. Innovation allows the
usage of social mediaas innovative campaigns can improve the business (Amabile and Pratt
2016). This also gives motivation to the employees. Innovation gives a unique selling point.
Customers get to see and use innovative products and hence value is added to the company. They
also gain commercial advantages and media exposure is also positive. However, companies
avoid using invention methods because it is a long process. Scientific skills are required and
companies do not have much time to spend on a new product. It also requires a large amount of
money and there is no guarantee that the new product will be successful in the market.
P2: Explaining how Essence Drink’s vision, leadership, culture and teamwork can shape
innovation and commercialisation
Innovation mainly depends on creating new ideas.New thinking can be decoded through the
process of innovation (Breuer and Lüdeke-Freund 2017). The company's goal is to
commercialise its products through innovation. The products have to be according to the needs
of the customers. It is seen that commercialising simply means bringing new product in the
market.
There are factors that are affecting the innovation process and commercialisation. Essence
Drinks want to reach their goals and objectives to make their company successful. They want to
give the best healthy lassis in the market. For this, they are coming with innovative ideas and
then commercialising their products. Essence Drinks have the vision to become the leading
company in the market by launching an innovative product. They are also using the latest
technologies so that they can satisfy their customers.
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To meet the organisational goals leadership is very important. A leader looks after all the
problems in the company. They try to overcome those with some solution so that success can be
achieved. Leadership is of many types like autocratic, democratic and participative. Essence
Drinks are following participative because it will be helpful in critical situations.Organisational
cultureconsists of values, attitude and norms which are followed by the company (Breuer and
Lüdeke-Freund 2015). This is shaped according to the values of the country. Innovation and
commercialisation process is affected due to cultural differences.Essence Drinks aim to meet
their goals and they are becoming aggressive towards it. Culture plays a major role in Essence
Drink to achieve its goals and objectives. Teamwork is very important in any organisation. It
helps to solve various issues in just a small time. It also helps in completing important tasks that
are done through planning. Essence Drinks have a specific team who work on the existing
product and try to innovate something new in it. This also helps in commercializing the product.
The team tries to follow the goals and objectives of the company and gives the best services so
that success is achieved. This will improve the efficiency process and will contribute to
innovation and commercialization.
M1: Analysing different sources of innovation, and organisation fostering and developing
an environment and culture of innovation
There are many sources of innovation which helps the organisation in many ways. They are:
 The Unexpected is this first source of innovation. It gives an opportunity to innovate
something new.
 The next one is the incongruities. People use a particular way to innovate things.
 Process change analyses a method and then find ways of improving it.
 Industry and structure of the market gives new technologies and open market to innovate.
 Demographics play an important role in innovation.
Environment and culture play an important in organisational innovation. Organisation
environment must be open to give challenges, creation, ideas and freedom so that experiments
can be carried out (Bessant and Tidd 2007). The organisation must allow people to learn from
their failures and success while innovating something new. Essence Drinks creates a culture and
clarity for innovation purpose. They bring in diversity and also encourage dialogue. People feel
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safe while the innovation of new things. It also gives them a competitive edge in the Australian
market.
LO2
P3: Explaining the 4Ps of innovation and explaining the use of innovation funnel to
examining and shaping innovative ideas
The 4Ps of innovation is explaining how the company can increase its profit and productivity
(Akgun et al. 2017). The 4Ps of innovation are Process, Paradigm, Product and Position.
 Process Innovation: In the process part it consists of manufacturing and distribution of
the product. Essence drinks are selling their drinks directly as well as in supermarkets and
local shops. This gives easy access to lassis to the people of the UK. The product is
displayed attractively so that it catches the attention of the people. There are special
booths in the supermarket for Essence Drinks. They also provide an option of tasting the
drink so that people can buy after that.
 Paradigm Innovation:There are different activities organised by the company. They try to
look at the business from a new perception. The company is trying to bring innovation in
the existing products and this helps them in moving one step forward in the UK market.
 Position Innovation:Essence drinks are targeting a new set of people in the UK. Their
target market is based on gender and age. Essence Drink’s product is healthy mango
lassiso young people who are health conscious will surely buy this drink. They are also
concentrating on their manufacturing processes. New machines are being implemented
and the company is using the latest technologies for their products.
 Product Innovation:Essence Drinks are planning to launch a new innovative product.
There are looking after all the needs of the people and then making a product
accordingly. This is giving them a good position in the market of the UK. They are also
gaining a competitive advantage.
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Figure 1: 4Ps’ of Innovation
(Source: Self Developed)
Innovation funnel consists of different steps while the development of a particular product
(Weyrauch and Herstatt 2017). It is seen that innovation is generally has done to bring in a new
product according to the needs of the market. The basic step is to collect ideas and then the
refinery system starts to make the product. Innovation funnel is used for shaping innovative ideas
but there are some steps that need to be followed.
 Assessment of opportunity: The Company looks after the opportunities in the current
market.
 Ideation based on Insights: To capitalize on the opportunities different ideas are given for
the product.
 Conceptualization: The concept for the product is designed from the ideas coming from
the previous step.
 Process of evaluation:Testing the concept and targeting the market accordingly.
 Go/No Go:Feedback is gathered after the evaluation step and the chances of success are
measured.
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 Launching:If one of the concepts is good then the product is launched in the market.
P4: Explaining developments in frugal innovation and providing examples of how it is used
in an Essence Drink context
Frugal innovation is the idea that a business uses to see resource limitations. The idea of frugal
innovation comes from Frugal Engineering.It can be material, financial and institutional. These
resources are then converted into business practices and innovative ideas. This innovation is
made from the above processes like circular economy, open innovation, co-creation and shared
economy. To gain benefits from frugal innovation, the company needs to come with better
quality solutions. Frugal innovation is needed because the growth of the product is reducing and
the company is cutting the funds so that debt gets reduced. There are environmental constraints
like energy, climate and water. Frugal innovators are getting new opportunities due to new
technological development. These days’ people are searching for healthy products and so the
company needs to reshape their business model. The market is growing and hence, the product
demand is also increasing.
Figure 2: Frugal Innovation
(Source: Weyrauch and Herstatt 2017)
These days most of the organisations are using frugal innovation so that they can gain
competitive advantages.Frugal innovation allows the company to compete with the cheaper
manufacturers so that great products can be made with more affordability. Essence Drinks should
follow some approaches for succeeding while they take frugal innovation.
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 Setting specific goals: Essence Drink is planning to launch the products that have some
health benefits and specifications. This will be doubling their sales. They are trying to
bring environmentally friendly products. So they are also contributing to reducing the
environmental footprints in the years to come. They are using frugal innovation so that
they provide greater value to the products by just using few resources.
 Looking after the needs of the customers: The frugal innovation is based on the
foundation of customer needs. Essence Drinks is trying understanding the needs of the
customers and then launching products accordingly. The product has to be innovative to
attract people’s attention.
 Teaming with innovative partners: The Companyis finding innovative partners who can
provide them with good ideas for their drinks.They can easily bring new products to the
market and that too at a faster rate. This is helping the company to work efficiently.
 Use the resources in hand: Essence Drinks are having their famous product and they are
trying to reinvent it again so that they gain some profit. They are revising their strategies
so that they survive the competitive market.
 All the obstacles need to be overcome: At first, the stakeholders might not be happy with
frugal innovation (Fraser and Bunduchi 2016). However, they need to be convinced that
this innovation is for the betterment of the company. All the problems have to be solved
and Essence Drinks have to come with great results.
M2: Analysing and applying innovation funnel in Essence Drinks
Innovation funnel is known as funnel management process (Wang 2017). This helps the
companies to make realistic plans of action. This funnel tries generating as many ideas as
possible. Later on, they are developed as concrete plans. This is just like a funnel shape starting
with many ideas and then filtering out limited ideas. The organisation takes innovation funnel to
find out the best idea and it is useful for projects, products and other innovations. Companies like
Essence Drinks take innovation funnel so that they can find the best idea for the current
competitive market. While using this funnel the company has to be careful regarding the criteria,
rules and filters. This also helpsthe on-going projects. In the case of Essence Drinks, the funnel
helps to innovate in their current product mango lassis. They try meeting manufacturing and
economic needs. The easiest form is to make a graphic structure for making an innovative
product. This funnel consists of three main parts. In the widening mouth, the base knowledge of
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the company is expanded. In the narrow part, the ideas are screened and finally, the main idea is
found out. The company finds its goal and finally meets the business objects.
M3: Evaluating the role of frugal innovation in Essence Drinks
The product's cost and complexity are reduced through the method of frugal innovation. The
unnecessary features are removed with the help of frugal innovation. In Essence Drinks, frugal
innovation will be highly beneficial. The production cost will be reduced and the company will
try earning profit through this system of innovation. They will also ensure that the quality of the
product doesn’t decrease. This is a reliable approach and company will be able to attract the
customers. According to the emerging market, frugal innovation is widely being used (Lim and
Fujimoto 2019). Essence Drinks could sell their products in the other parts of the world through
this innovative method. However, the organisation needs to keep some things in mind like; the
process of innovation must be simplified. Wastage should be avoided and value focus should be
their main target.The frugal model should be made simple and later on, modules can be added.
There should be continuous improvement so that the company can beat their enemies.
LO3
P5 Explaining the importance of commercial funnel and the application of new product
development
Whether a business is a startup or a large organisation the commercial funnel is important for any
business for expanding its operations. It is a funnel which describes the process of the customer
from the point where he becomes aware of the product up to the point where he actually
purchases it. The funnel is based upon six steps which mark this journey. It is a method through
which a prospect is actually converted to a customer. The steps are described as follows:
Awareness – This is the topmost phases where a potential customer becomes aware of the
existence of the product through a blog post or advertisement (De Massis et al. 2018).
Consideration – This is the stage where the customer becomes interested in the product and tries
to find out more about the product or service.
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Preference – In this stage, the customer develops a preference for a particular product above
other products.
Action – In this stage the customer takes the decision to actually purchase the product.
Loyalty – This is the stage where the customer prefers and continuously purchases the product
over other options (Alexander and Joe 2019)
Advocacy – This is the phase where the customer suggests the product among his social circle.
It is important for companies to analyze the different stages of customer behaviour and align
their strategies accordingly to retain them for a long period of time and ensure the sustainability
of the business.
Application for new product development
Essence Drinks started it's business 2 years ago with one single product which gained a rapid
presence on the market due to its unique characteristics. The company founded by Akshay
Kumar has decided a proper development of the new product is essential and at the same time
maintaining the original product of mango lassi. It seems to be the right strategy since consumers
in the UK are now looking for alternative and unique options to satiate their tastes (Frishammar
et al. 2019). The following stages of New Product Development with the purpose of innovation
and its introduction in the market are as described below.
Idea Generation – This is the primary phase where the company decides on the idea for a new
product (Elmquist, Gawer and Le Masson 2018). Essence Drinks must introduce health drinks
which are based on various tropical flavours such as guava, mint and litchi to distinguish itself
from its competitors. Some essential features should be the total exclusion of caffeine and it
should be 100 % free from fat.
Screening - This is concerned with screening the ideas to filter out those which can generate
interests among consumers and revenues. Essence Drink must seek opinions from employees,
potential consumers and other enterprises to gain knowledge about the products which can
succeed.
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Concept Development – In this stage Essence Drinks must study the market its strengths, threats,
opportunities and weaknesses. Essence Drinks must undertake a risk, cost and benefit analysis at
this stage.
Product Development – Essence Drinks must design the manufacturing process and the actual
design of the product. The packaging must be attractive and some samples should be released in
the market to gauge the initial reaction and then undertake large scale production. The
manufacturing process should be hassle-free and devoid of any unnecessary costs which help to
market the new drink at a competitive rate.
Commercialization – The Company must take note of the favourable results in the
developmental stage and design their plan accordingly. Essence Drinks must then launch its
marketing campaigns for the new product. The company must follow the commercial funnel
above to engage and retain the interests of consumers. Consumers will only develop a loyalty for
the company if they become interested through proper campaigns (DaSilva 2018).
P6 Build an Innovation business case and ways to access funding
Essence Drinks can utilize a lot of innovative ideas to create interest and increase the sale of its
products. One such feature is packaging. The bottle containing the drink must have fulsome
shoulders and a wide mouth which will signify the richness of the product. The company can
also provide customers with the added facility of delivering the drink to their home. Attractive
discounts must be offered if bulk purchases are made. Consumers will be more inclined to
purchase the product if home delivery and discounts are offered.
Essence Drinks should introduce a variety of flavours and these should be promoted among the
consumers who are looking for diverse options. Also, the health and nutritious quotient of the
brand may be advertised to consumers looking for more healthy options in their daily life
(Santoro et al. 2018).
Essence Drinks must apply several promotional techniques to attract the attention of customers.
One of them is social media marketing. Youth more concerned with the health quotient of the
product are avid users of social media (Santoro et al. 2018). The company already has a popular
product in the market and can engage the services of social media influencers with a strong fan
base to advertise their products. There should be a website describing the various flavours and
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their benefits. Essence Drinks should actively sponsor popular sports events to create awareness
about their products.
An estimated budget for the business is outlined below.
Types of expense Cost incurred
Raw material Expenses £ 350
Manufacturing Expenses £600
Marketing Expenses £170
Labour Expenses £ 450
Management Expenses £ 250
Other Overhead Expenses £100
Total £ 1920
Estimated Revenues Incurred by the company
Name of the Product Price Quantity Revenue from a single
mode of product
Mango Lassi £ 2.5 250 £ 625
Pineapple Lassi £ 2.5 250 £625
Litchi Lassi £3.5 200 £700
Plain Lassi £ 2 250 £500
Guava Lassi £ 3.5 200 £700
Total £ 3150
It can, therefore, be assumed that the estimated profit of the company will be:
Total Revenues – Total Expenses = £ 3150 - £ 1920 = £ 1230
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M4: Building a detailed Innovation Business Case which includes how to measure its
overall effectiveness using appropriate techniques available to test, iterate and improve
Essence Drinks wants to do the innovation in packaging which will make the products attractive
to the customers and the packaged will make the products fresh for a long time. This innovation
will also help the company in the commercialisation of the drinks. Choosing the correct KPIs for
measuring the innovation will help to take the action towards and it will also help the people to
adapt to the behaviour. Innovation needs to be brought in the production phase where the drinks
are packaged. Innovative product packaging will help to transmit the product from plants to the
retailer and it will also prevent the products from damaging. The early phase of innovation
within the Essence Drink has been disruptive and new innovation is inferior to the existing
innovation, however, it is measured with the same innovation metrics (Oscoro et al. 2016).
Packaging innovation for Essence Drinks is sustaining innovation as it has a large market, low
risks and high margin. Package innovation must be tested which will give the organization
learning as if it works, put this innovation live. The production plant may iterate the innovation
process to improve the units of production.
LO4
P7: Evaluating of different tools that Essence Drinks can use to develop, retain and protect
knowledge and intellectual property
There are different tools which will help Essence Drinks in developing, retaining and protecting
knowledge and property of intellectual (Lendel,Hittmár and Siantová 2015). There are a few
fundamental tools which will be helpful for the company in long runs. They are:
Patents:This means that the inventors have the right to protect their products. This excludes
everyone from using, selling or making similar products for 20years. This is the property right of
the company. This is quite helpful for the company as nobody can use their ideas or innovations.
If there was no patent then the company would have faced major problems.
Trademarks:This is a design or sign that explains a particular product. It is generally the
company’s logo or brand. They take trademark of a particular tagline, business name or captions.
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Copyrights:This is a bunch of rights like a computer program, music and artistic work. This
right is just given to the owner of the company. This is quite helpful for Essence Drinks as they
make innovative products.
Essence Drinks can use data protection policy for their products. There are some steps that need
to be followed like: the data has to be collected in a fair and lawful manner. There should be an
appropriate period of preservation in case of personal data. To meet the legal needs of the
company personal data of a company can be used. This will be helpful in operational activities
too. There should proper training provided to the company staff so that they can handle the
personal data of the company. All the guidelines and procedure for data protection must be seen
carefully. The IP rights can be protected by Essence Drinks by keeping the protection of their IP
in the UK (Trott 2008). This is the place where the company does it's business and sources its
products. They have to find out the thing that is required for the eligibility of their copyrights and
trademarks. They also have to take some legal steps for the employees so that intellectual
property can be protected. They cannot share their personal technology outside the company. In
this way, data protection can be maintained. The company has to be serious about their data and
products so that their competitors might not get the advantage. These tools are helpful for the
company in great ways.
M5 Present supported evidence-based evaluation of these different tools in the context of
the wider business environment
Essence Drinks should undertake a number of policies to protect its intellectual properties in a
systematic manner. These areas discussed below.
Patent-Patents are used to protect processes or inventive ideas. Products which are useful, new
and not obvious are protected by patents. Essence Drinks must apply to the UK intellectual
property office seeking to apply for patents to prevent the copying of their inventions. From the
date of issue, the patent has a lifetime of at most 20 years (Bettig 2018). The patent should
ideally be owned by the inventor.
Copyright –Copyrights alternately provides protection from the manner in which concepts or
ideas are expressed. Music, art, architectural blueprints and written words may be applied for
copyrights. In some cases, the owner can control new versioning, reproduction and performance
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(Yuan et al. 2018). The government of the UK prevents renting, lending, distribution and
copying of works.
Trademark – A trademark differs from a patent since it protects colour schemes, sounds, smells,
phrases and words associated with the product. Trademarks are assets which define or identify
the source of products provided by the company such as the colour scheme of Essence Drinks. In
UK logos, sounds, words and colours can be applied for trademark (Parr 2018). It is generally
not expensive and can be applied for in the proper government office.
Design right – A design rights protect the visual appearance of an item or product. It gives the
company exclusive rights over the appearance of a product. No other company may reproduce
the design.
Essence Drinks should make a thorough study and analysis of the attributes in the company
which needs protection in the future. All applications should be made accordingly and even
employees must be prevented from sharing the confidential information of the company.
Conclusion
This report is based on innovation and commercialisation. The company taken is Essence Drinks,
Australia. The company is currently unable to compete with other brands in the market. They are
finding innovative ways to great back their position in the Australian market. Different tools and
methods of innovation are being used for this process. Innovation business plan is developed for
Essence Drinks. They also saw various types and sources of innovation. They will be using
frugal innovation and innovation funnel for launching the product. The application of new
product development was seen. The innovation tools and practices will give Essence Drinks an
innovative product for their growth.

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