Innovation and Commercialisation - Kiwi Fruit Drink

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Added on 2021-02-22

Innovation and Commercialisation - Kiwi Fruit Drink

Added on 2021-02-22

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Innovation andCommercialisation

Table of ContentsP6. Innovation business case........................................................................................................3P7. Different tools to develop, retain as well as protect knowledge along with intellectualproperty........................................................................................................................................4REFERENCES................................................................................................................................6

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P6. Innovation business case.Innovation plan is a combination of idea generation along with recognising opportunitiesin order to grab market opportunities with the purpose to introduce new product or services in thecompetitive market (Collyer, 2017). Innovative business case helps in preparation of strategiesalong with plans in order to ensure high revenues from organisational products. Certain aspectsthat are mandatory to consider at the time of making business case includes scope, advancedtechnological impacts, managing information based on market research and hence forth.Managers of Essence Drinks are planning to launch a new product with the name of Kiwi FruitDrink and are preparing innovative business case for such purpose. Following are innovativebusiness case for Essence Drinks:Mission: The mission of Essence Drinks is to provide healthy fruit drink to customers asper their taste and to increase revenue by 20% in the next 4 months along with increasing salesby 28% in coming 4 months in order to fulfil essential business requirements in effectivemanner.Planning innovation: Innovation of Kiwi Fruit Drink requires proper planning ofactivities in order to launch the product in market without any hurdles. The marketers of thecompany carefully understands the impacts that technology, management information,developments methods will face in present era. Technology impacts on planning innovation inmany ways such as influencing creative ideas, transparently immersive experiences andproviding a platform to showcase the innovative ideas. Technology also impacts on managinginformation on research by providing processing of transactions, scrutinising the requiredinformation for further use of research data (Pellikka and Malinen, 2014). Other then this, it alsoimpacts on development methods through influence their usage in planning aspects. Byconsidering big data along with cognitive systems helps the company to predict behaviour ofcustomers towards such product and the ways customers will react if certain modifications willbe made. Such consideration will also help in analysing future trends and adopting social mediatools to construct a platform to promote the product and adopting numerous distribution systemssuch as distributor sales, direct sales or wholesale sales. Assessing funding and resources: Essence drinks requires funds to perform activities topromote the product ion competitive market, collecting materials to develop the product and tostrengthen the production activities so that products are produces in specific time limit.

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