Innovation and Commercialisation

Innovation and
Commercialisation

INTRODUCTION
• Innovation can be referred to as the procedure undertaken by a company with a
view to introduce a unique and relevant concept and/or feature in the original
product offered at market place.
• The purpose behind doing this is to inflate the consumption and significance of
organisational offerings among people.

Significance of commercial funnel
• Commercial funnel can be referred to as the overall journey of customers related
to purchase of organisational offerings.
• Through the usage of commercial funnel, Samsung Electronics can gain the
attention of more customers and persuade them to make a purchase.
• There are various steps linked to commercial like opinion, preference, awareness,
purchase, consideration etc.

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• Idea Generation: Hereby, idea related to new product is generated.
• Idea evaluation: Under this step, idea introduced by Samsung will be evaluated
to identify if this idea is capable to attain expected outcomes or not.
• Development of Concept: After evaluation, idea of company is transformed into
a product concept.