Assessing Innovation and Commercialization for Essence Drink's Growth

This report examines the innovation and commercialization strategies of Essence Drink, a company facing business slowdown. The report details the importance of a commercial funnel in attracting customers and outlines a new product idea: a zinc-infused lassi with antimicrobial packaging to extend shelf life. It discusses techniques for testing the effectiveness of the new drink, including AI and in-house testing. An innovative business case is presented, highlighting objectives, solutions, and research methodologies. The report also covers tools for protecting intellectual property rights, such as trademarks and patents, and concludes with the importance of commercial innovation for brand image. References to relevant academic articles are included to support the analysis.

INNOVATION AND
COMMERCIALISATION

TABLE OF CONTENT
• Introduction
• Background of the company
• Importance of commercial Funnel
• Summary of new Idea
• Techniques for testing the effectiveness of the new drinks
• Innovative Business Case
• Tools for protecting the intellectual property rights
• Conclusion
• References

INTRODUCTION
Innovation is the concept which is used by the
organsiation in getting the innovative and the unique
idea in the organisation so that they can make the best
use if their resources in order to get effectiveness within
the organisation. It is the important aspect that needs to
consider by the company in so that they can sustain in
the competitive business environment.

BACKGROUND OF THE COMPANY
Akshay Kuman, the founder of the
Essence Drink has started the company
two year ago and where the company is
facing the slowdown in their business.
He launched a beverage, A healthy
mango lassi in the United Kingdom so
that they can increase their profitability
with the increase in the sale.

IMPORTANCE OF COMMERCIAL FUNNEL
Commercial funnel is the aspect which cover customer journey towards the
purchasing of the products of the company. It helps the Essence Drinks to
attract the large group of customers and influence them to purchase the
offering of their brand. This would help the company to constantly promote
their products and services so that they attract the large group of their
potential customers. The company must analyse the market condition so that
they can effectively launch their innovative product in the large market.

SUMMARY OF NEW IDEA
The Essence Drink has planned to implement the innovative
product by doing the innovation in the lassi and they are adding
the zinc in it and also doing the antimicrobial packaging which
will increase the shelf life of the lassi so that they can meet the
increasing demand towards the healthy product can be fulfilled in
the organisation.

TECHNIQUES FOR TESTING THE EFFECTIVENESS OF
THE NEW DRINKS
There are various which is used by the organsiation
in order to test, iterate and also improve the business
case. Artificial Intelligence is the effective technique
which is being used by the business in order to
determine the effectiveness of the antimicrobial can
function. In-house testing also allows the company
to determine the various issues that can be shown at
the time of supply. Hence, these are the aspects
which helps in improving the techniques like
performance testing and brainstorming.

INNOVATIVE BUSINESS CASE
STEPS DESCRIPTION
SUMMARY
Essence drink is the leading company in the United Kingdom which deals in bi healthy
mango lassi but due to decrease in the sale the company is required to innovate their
product.
OBJECTIVES
Objective of the company is to develop the new product without demolishing the
original product that is lassi.
SOLUTION
In order to meet the objective the company is using the anti microbial packaging so
that the shelf life of the product and also helps in protecting the health of their
customers.

CONTINUE…
INNOVATION IN SERVICES
The company is utilizing their packaging in this new range of lassi and also using the
zinc instead of toxic ingredients so that the effectiveness of the lassi can be retained
in it and the company can earn high profit.
RESEARCH
Companies using the both internal and external sources in order to introduce their new
product by understanding the needs and wants of their customers.
FUNDING
The company is using the bank loan and investors for the funding so that they can
effectively innovate their product and offer them in the large marketplace.
BENEFITS
As the ongoing health problems, renovation help the customers in maintaining good
health and also contribute in the journey of staying fit of their potential customers.

TOOLS FOR PROTECTING THE INTELLECTUAL
PROPERTY RIGHTS
It refers to the intangible techniques which helps the organisation to use, develop and
protect their products and services so that they can effectively use by the firm. In relation to
Essence drink, there are various tools that are given below:

CONTINUE…
Trademark: It refers to the sign, design or the expression that defines the products of the specific company and
this can be referred to the specific brand. Essence drink can use the approiate logo or the tagline in order to attract
the large group of the customers. This can enhance the effectiveness of the brand in the large market.
• Advantage: It is the right given to the organsiation so that the company can save their products and services. In
case of any critical situation, they can take the legal actions for protecting the firm or their products from being
copied.
• Disadvantage: The patent is having the life of 20 years as they are having the less life in the general aspects by
which they are expensive to acquire.

CONTINUE…
Patents: It refers to the rights which is being given to the company in case of any innovation
or the invention and these stay active for 20 years. This would help the essence drink to
approiately use the skills of their employees.
• Advantage: It is valid for the 10 years and the company so that they can protect the
products which they are going to sell in the large market.
• Disadvantage: It inquire huge cost and when the company do not able to pay the fees, It
leads to cause the removal of the trade mark from their register