Innovation and Commercialisation: Presentation on Essence Drinks

Innovation and
Commercialisation
Task 3 and Task 4

Table of Content
 Introduction
 Importance of commercial funnel and application of NPD processing for
commercialisation of innovation
 Building an innovation business case in context of Essence Drinks company,
including ways to access funding
 Evaluation of IP tools in wider business environment context
 Conclusion
 References

Introduction
 Innovation and commercialisation are business processes that helps in establishing
a successful brand in competitive market. For the presentation, focused entity is
Essence Drinks that produces a healthy mango lassi. It is established by Mr
Akshay Kumar with one drink that is healthy mango lassi in market of UK.

Importance of commercial funnel and
application of NPD processing for
commercialisation of innovation
 Commercial funnel is actually very important for Essence Drinks
because it brings opportunity for company to deal with maximum
consumers through single innovation of its lassis (Sergeev and
Kirillova, 2019).