Innovation and Commercialisation

This document discusses the importance of innovation and commercialisation in business organizations. It defines innovation and its significance compared to invention. It also explores how organizational leadership, vision, culture, and teamwork can manage innovation and commercialisation. The document further explains the 4Ps of innovation and the use of the innovation funnel to analyze and shape innovative ideas. It also discusses frugal innovation development and its use. Lastly, it covers new product development and the commercial funnel.

INNOVATION AND
COMMERCIALISATION

Table of Contents
INTRODUCTION: .........................................................................................................................3
P1 Define innovation and explain its importance to business organisation in comparison with
invention......................................................................................................................................3
P2 Define how organisational leadership, vision, culture and teamwork can manage
innovation and commercialisation..............................................................................................4
P3 Define the 4Ps of innovation and define the use of the innovation funnel to analyse and
shape innovative ideas ................................................................................................................6
P4 Frugal innovation development and its use...........................................................................7
Task3 ...............................................................................................................................................8
P5 New product developing and commercial funnel ................................................................8
P6 Innovative business case........................................................................................................9
Task4..............................................................................................................................................12
P7 Evaluation of various tools for protecting intellectual property..........................................12
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION:
Innovation is described as a process in which making alterations and modifications in the
current products and services. Innovation occurs for increment and making appropriate efforts
in present product and services in the market place. The marketer analyses different
opportunities, ideas and many more which helps in testing and marketing of product inside the
marketplace (Bilandzic and Hearn, 2018) Beside of this, commercialisation is considered as a
process which describes the launching of new products and services at commercial level. Both
innovation and commercialisation is necessary for company in order to operate it successfully in
order to achieve leading position in the marketplace. In context of Big belly, the marketing
manager focuses on providing innovative as well as creative products to its user is mentioned in
this report. This report is categorized into two parts. Firstly, it consider innovation to produce its
new products. Secondly, it covers commercialism in order to gain leading position in the
marketplace.
P1 Define innovation and explain its importance to business organisation in comparison with
invention.
Innovation: It is described as a process in which there is a alteration and changes in the
present products and services for success of the company. It involves improvement and making
suitable contribution in existing good and services. For this purpose, various elements are useful
for the functioning and activities related to innovation for future success and growth of the
company. In reference of Big belly, the manager focuses on offering innovative and recycling
solution for investing in renewable information technology and solar system in order to satisfy
the customer.
Invention: It is described as a process which is helpful in offering innovative ideas to
convert it into the action. It happens only when the innovative ideas come in the mindset of
individual and that ideas is converted into the finished products. This product is provided for the
first time in front of its user (Cheah, 2016) Therefore, it is necessary for marketing manager to
conduct a research in order to launch new product in the market. The manager of this company
invent and launch the plastic bottle recycling machine that helps the company in increasing good
brand image within the marketplace.
Comparison among innovation and invention

Basis Innovation Invention
Purpose The main motive is to generate
more and more revenue in its
existing products and services.
The main objective is to
introduce innovative and fresh
products to its potential
customer.
Occurrence It occurs only when an
business assess they there is no
more competitors and
competitions available in the
marketplace.
Moreover, it occurs when
innovative ideas generate in
the mindset of employees and
they convert their ideas into fid
that the questions that he gave
unished products in order to
fulfilling the needs of
customer.
Innovation plays an important role for the success and development in business
organisation. In order to produce new product in the market, the marketing manager of company
faces lot of challenges and risks which is going to be discussed below:
Unique selling point ( USP): There are a lot of competitors available in the marketplace.
Therefore, Big belly adopt innovative techniques to providing quite unique and specific products
because it carry and recycle five time more scraps. Therefore, the company setup the plastic
bottle recycling machine that helps in reducing the wastage of plastics as well as recycle it. In
addition to this, the company offer innovative products and services to its customer.
Continuous Improvement: This factor is helpful for continuous improvement in
products and services of the business organisation. Along with this, the environment and product
of its market is dynamic in nature. Therefore, Big belly face many alteration in selling of its
products and services. There is a need of continuous alteration and modification for the
betterment of company and its staff member.

P2 Define how organisational leadership, vision, culture and teamwork can manage innovation
and commercialisation.
The leader make effective vision for bringing innovation in the company. They focuses
on making effective team in order to product innovative products as well as services within
market. Innovation helps the company to achieve organisational goal and objectives within the
stipulated time period The innovation is the reason behind success of business organisation ( de
Zubielqui, Jones and Statsenko, 2016)For this purpose, various factors are represented which are
useful for the company which is going to be discussed below:
Organisational vision: It determine the goal and objective of company which is
achieved within a given period of time. The employees of Big belly plays a very important role
in order to give new and innovative ideas. Therefore, the company setup plastic bottle recycling
machine in order to reduce garbage from the world as well as remove noise pollution. In order to
use this innovative technique helps the company to increase goodwill and reputation of business
organisation.
Leadership: It refers to the process in which the leader give direction and also adopt
appropriate leadership style for innovation. In assistance of this, leader of Big belly are
responsible for performing its duties and responsibilities (Huang, Farrukh and Shi, 2018) To
accomplish vision of company, leader can adopt democratic leadership style for creating a
specific and unique products for enhancing performance level of the company. In addition to
this, it Big belly adopt autocratic leadership then the employees of company become demotivated
for achieving something innovative and new. Therefore, good leader possess positive attitude in
order to delegate work to its subordinates. The CEO of Big belly is Brian Phillips and adopt
democratic leadership style which is useful in innovation of product for increasing the brand
image and reputation of the company.
Culture: Culture describes the method by which company provides its products and
services for developing the personal identity in business environment. In context of Big belly,
the supervisor offer unique and specific products and services to its customer. Therefore, it is
useful in achieving competitive advantage within marketplace. In assistance of this, the
advertisement related to innovation helps the entity to adopt the culture for their staff members
for enhancing the performance and productivity of business organisation. Therefore, Big belly

can use the task culture so that subordinates are more confident and coordinated towards its
work.
Teamwork: It determine work environment in which subordinate of the company work
in team for achieving goal and objectives. It is very important for company to cooperate and
coordinate as well as work in team for the success of the business organisation. In assistance of
this, the work in team is very useful in increasing quality of work and assists in completion of
work within a given time period. In context of Big belly, the management team of company can
work in team in order to achieve goal and objective in suitable manner. Also it is useful in
avoiding grievance and conflict among subordinates within the marketplace. Along with this, the
motivated employees providing best products and services to its user as well as they focuses on
eliminating garbage and reducing noise pollution as well.
P3 Define the 4Ps of innovation and define the use of the innovation funnel to analyse and shape
innovative ideas
For developing various products, business use appropriate and innovative resources
which are helpful in launching something new that is according to the need of its user. The
marketing manager of company consider seven components for bring an innovative products in
the marketplace. They emphasised on providing a unique and specific products for the growth of
existing market structure. In addition to this, the company offer effective products and services to
its customer in order to enhance profitability within the business organisation. The 4P's of
innovation and use of innovation funnel which is going to be discussed below:
Product: It is the primal factor which is helpful in providing new and innovative
products to its target customer with the purpose of reducing wastage (Ireland and Gorod, 2016).
For this process, they satisfy need and wants of consumer that give value to the company. In
reference of Big belly, the management team of this company introduce plastic bottle recycling
machine for eliminating wastages as well as noise pollution. This innovation helps them to
increase their goodwill as well as reputation of the company.
Process: This element defines the process of producing product and services in order to
attract more and more customer. In context of Big belly, the management team provides products
and services to its user in order to satisfy them. They launch innovation product plastic bottle
recycling machine for eliminating wastage. Due to its smart feature it is possible to save time and
cost as well as reducing pollution from the environment. This will helps them to boost brand

image and reputation of the business organisation. Therefore it assists them to increase future
growth and development of the company.
Position: In this process, the product is positioned according to its competitive products
available in the marketplace. There are a lot of competitor available with similar kind of products
and services within market. In context of Big belly, the supervisor launch plastic bottle recycling
machine that helps in reducing wastage and recycling it as well as eliminating noise pollution. In
assistance of this, the company provide unique and specific products and services to its customer
that is different from the competitor products. It increases the brand image as well as reputation
of the business organisation. Big belly is well reputed company that helps in reducing wastage
and recycling it.
Paradigm: It refers to the process in which business faces many challenges in order to
provide innovative and new products and services to its customer. In discourse of Big belly, they
can produce their appropriate standard and benchmark for their competitors and also make
effective changes in the business as they came up with innovative ideas in the marketplace.
Along with this, the company should make effective strategies, plan and policies for cope up
with the changes taking place within market in order to gain competitive advantage over rival
firms. The main motive of company is to generate more and more revenue by providing quality
products and services to its user.

The innovation funnel is described as a process in which the company focuses on
generating innovative and practical plan in order to achieve objective and goal of organisation. In
addition to this, the business organisation take idea from reality in order to satisfy the need and
wants of individual. It helps in increasing future sales as well as growth of business organisation.
Therefore, it is essential to provide innovative and unique products and services to its user.
P4 Frugal innovation development and its use
Frugal invocation is that part of commercialization which includes best utilization of
limited resources for benefit of mass population. There are various development in field of frugal
innovation or because of frugal innovation (Kedron and Bagchi-Sen, 2017) There are various
methods of development in frugal innovation and will impacted positively on company like Big
belly. There are four steps in development in frugal innovation which Big belly use in there
functioning.
Identification of frugal innovation : For the development of frugal innovation Big
belly first identify the need of it in there organisation this is to be done when they have limited
resources and high cost of project. Than they use frugal innovation. \
Deduction of problem : Here Big belly identify the needs of frugal innovation . They
compare there scare resources and collect them for facilitating change and use innovative way to
start new project.
Deduction of patterns : In this step of development Big belly starts eliminating the ideas
which are identified in the second stage of development and choose the appropriate one.
Pattern system : This is the last stage of developing in this Big belly have identified
proper system for there project and use it as frugal innovation in there working .
Frugal innovation and organisation
there are various ways in which frugal innovation is used in Big belly and how this can
benefited to them in achieving there objectives in long run of organisation. Some of examples are
stated below:
Product development: Frugal innovation help organisation in there product
development . Big belly use this as part of there functioning . Frugal innovation enables big belly
in identifying cheep production method for targeting large market and providing effective waste
management .

Market analysis : Market analyse includes huge capital investment by firm but frugal
innovation help firm in maintain this cost by its innovative ideas for example for analysing
market Big belly use direct review system form its costumers which help firm in reducing the
cost of market researches (Kim, ParK and Paik, 2018).
Idea generation: Frugal innovation also help a firm in idea generation this will done
through different ways for example Big belly gets a project of replacing garbage bin in London .
Here it use a method of frugal innovation as they replaced these dustbin by smart bins which
requires less operating cost.
Use of resources : This will help in using organisation resources effectively . This will
benefited to Big belly as they have to work for effective management of there limited resources.
As every organisation have scare resources which they have to fulfil but frugal innovation help
in managing these scare resources.
Frugal innovation is basis for organisation success as it will help organisation in
managing its scare resources for completion of project and taking competitive advantage in long
run for achievement of there goals and objectives.
Task3
P5 New product developing and commercial funnel
New product development (NPD)
New product development is the process of using new techniques and method in
organisation for achievement of target market and bringing competition in particular
environment (Loya and Rawani, 2016).
Process of NPD Idea generation: In this step the firm first generate idea of product development. Big
belly have generated to manufacture plastic bottle recycling machine. Concept definition:. In this step Big belly use there product demonstration to different
number of customer like retail shop owner to use there product which help in saving
environment. Market analysis: Here firm decide in which they have to lunch there product and should
analysis this market for lunching there market . In context of Big belly , they analysis the
market of London where there is huge need of recycling of plastic bottles.

 Product development: After all these steps there is time to develop product according to
market study . In context of Big belly they have made clear study of their product and
make sure that they can launch there product here in market. Commercialisation: This is the last step in process where company launch its product in
market where it what to sell its product and starts function of marketing there product.
Commercial Funnel
It is the process of launching new products or factors which should use before production
and lunching of new products in target market Mazzarol and Reboud, 2020)This is a graphical
presentation which include client and goods and service relation. This is also known as sales or
revenue funnel. There are five steps in this process.
 Idea generation : In bigberry, they have generated the idea of making plastic bottle
recycling machine which will help in maintain environment clean and free form
pollution
 Idea Screening : In this step there is screening of the idea which is generated in previous
step . Screening of idea is done by cheeking its effectiveness and value for company .
Scope of innovation is also identified in this step.
 Testing Concepts : In this steps big berry will test its new product in small amount .
This test will be done at tourist places where use of plastic bottle is high . This is done for
checking the efficiency of product.
 Analyse need of product development: This step is analysis of previous step in this Big
berry will check that there product is getting response from customers or not if it is
getting than they have to shift on next step.
 Commercialization : In this step, the product will be introduced in market with heavy
advertisement and promotion for its success. Big berry launches its product in market
with the help of advertisement on TV and on there social accounts.
Ansoff matrix
It is an analytical frameworks which is used to launch new product or existing product in
new market, this the technique of using market for firm benefit and to launch its products it have
four types that are market penetration, product development, market development and
diversification. All these steps are stated below with context of Big berry:

Market penetration: This stage deals with classification of market for existing product
where company penetrate its target market for its existing product. There are different strategies
like deep discounting for increasing customers of existing product in target market.
Product development: It is the stage where company have to focus on new product
development, to launch them in existing market and for innovation and retaining customer
interest in organization.
Market development: According to this, there are different market in globe where
company can expand its product. This function deals with lunching of existing product in new
market.
Diversification: This is most risky strategy of every company as they adopt strategy of
introducing new product in new market.
Implementation : Ansoff matrix is the best framework to identify market strategies for company
products. Big berry can use this for their plastic bottle recycling machine, the best strategy for
Big berry will be product development. For this they can use high level marketing and can use
their R&D department for lunching of product.
P6 Innovative business case
Business case:
Steps Description
Executive summary This case states that company will use new an
innovative way to recycle plastic bottle which
have worst quality of plastic or that plastic
which cant be recyclable (Nabulsi, 2017).
Objectives There is main aim of company is cope with
environment they belies that plastic have worst
impact on environment so company used an
innovative idea to market plastic recyclable
machine which can recycle even bad quality
plastic.
Mission Company have a mission to reduce plastic
bottle waste by 30% in UK and use solar

panels which have zero carbon use in its all
projects.
Source of innovation and solution The main source of innovation is to use solar
panels and recycling that plastic which is not
easy to recycle by any other machine by any
process. this is effective plan as it will reduce
plastic from environment
Innovation in product Innovation in product is that it will generate
electricity by itself with the help of solar panels
which are inbuilt in it . This have also a
innovative technology of using that recyclable
methods which can easy recycle single use
plastic bottles.
Target market The main target market of this product is parks,
retail shops, bus stands, metro stations and
public units. Where there is large number of
people with recyclable bottles.
Sources of funds Sources of fund use by big berry are
commercial banks or issuing equity shares.
these tow sources are the cheapest and fastest
source to finance product in which there is
minimum rate of interest.
Benefits This will benefit Big belly in reducing there
operating costs as solar penal does not require
any operating cost this will also increase profit
of firm.
Monitoring and controlling This is the last step in this process where
company will monitor and control performance
of there product which will facilitate them in

achieving good cooperation and success of
there product.
Sources of funding
These are those sources from where company will finance there product of get finance
for its operations. This will help company in ruining organisation smoothly without loss of
working and meet operation requirements . Big belly use different kind of sources to fund there
project some are stated below :
Bank loan: It is that source of funding in which loan is provided by commercial bank of
that area where organisation work. The money provided by bank is based on same mortgage
given by reviver of loan (Nepelski and Piroli, 2018). This is cheapest source of funding.
Government assistance: It include that type of funding in which government nation
where firm is working provide credit to firm because of promoting there business and helping
them in finance there organisation . This type of loan have minimum interest rates with different
tax benefits.
Crowdfunding: whenever needs capital but they don't want to loose control over
organisation then it will use crowdfunding as a source of finance in this source of funding the
funds are generated through inviting lots of people to provide small amount to company which
company can use to finance there project.
There are many source of financing in business environment but big belly will use
cheapest and safest source for there products this source is bank loan and government assistance.
Task4
P7 Evaluation of various tools for protecting intellectual property
Intellectual property rights:
This are those rights which saves company innovation from plagiarism . this can refers as
a process of saving innovative idea of firm by registering it with any legal institute because of
saving its ideas from other competitors and reducing chances of plagiarism by increasing
security of there production process (O’Gorman and Donnelly,2016) Big belly have long range
of rights and some of them are stated below

Patent: It is that intellectual property right which help firm in saving there innovation by
registering it to government institutions or institutions formed by law. This will stop other
persons from coping ideas of other in making and selling of similar goods and services. the
patent of company helps them in innovate existing products and services for achieving future
success as well as growth of business organisation .
Trademark: This is that process which make a business unique to other business and
facilitate in differentiation. It helps the company in making its separate identity by its logo and
brand name . For Big belly it will help than in establishing there septate entity and legal
existence in global market . Trademark are the sign, symbols, pictures and many more that helps
in analysing the brand of product in effective manner.
Copyright: This is used in literature or writing of books to save the writings of authors ,
writers and publicans . When they right something new or innovative than they have make sure
that no one should be able to copy there idea, so the have to make it there copy right that only
they have a right to produce , print and sell there product.
In context of big belly, company should use patents rights for protect there innovation
work as it will prevent there work from plagiarism and will be stable for there new innovative
project. It also prevent others to copy the creation by other competitors from importing , making,
selling and using it for a certain years ( Schot and Steinmueller, 2016).
CONCLUSION
From the above mentioned topics, it has been analysed that innovation is an essential
factor which is concerned with the suitable use of goods and services. For this process, it is very
important to effectively describe the benefit of innovation of products and services to its user.
Also it defines 4P's for building vision for the company. Along with this, New product
development and commercial funnel is used for launching a new product in the marketplace. In
addition to this, Big belly use solar energy for the work related to plastic bottle recycling
machine that helps the company to reduce wastage and recycle it in suitable manner. This
company provides services to its user in cost-effective manner. Apart from this, intellectual
property is important to protect the innovative ideas of the business organisation.

REFERENCES
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