Innovation and Commercialization

Innovation and Commercialization
( TASK 1)

Content page
 Introduction
 Background to the company and its commercial potential.
 Importance of commercial funnel and procedure involved in New
Product Development
 Innovative business case
 Tools that protects intellectual property and knowledge

Introduction
Innovation is a method of involving new ideas and technique to invent new product
which is yet not developed. In other way, it can be explained as a process in
which multiple activity are discovered by the help of new technology. On other
hand commercialisation can be defined as introducing new product and service
with more feature to encounter the competition present in business environment.
It comes with various features such as sales, production, distribution and
promotional tools which are important part before launching new product in
market.

Background to the company and its
commercial potential
Innocent Drinks was established in 1998 by three
entrepreneurs who were Jon Wright, Richard
Reed addition to Adam Balon. The company
has diverse portfolio of products like juices,
shakes, smoothies and many more. All these
products helped in generating revenues more
than £250 million last year and also increased
its market share to 25%.