Innovation and Commercialisation

INNOVATION AND
COMMERCIALISATION

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Background of company.............................................................................................................3
Commercial funnel and NPD process.........................................................................................3
Innovation case............................................................................................................................3
Funding resources.......................................................................................................................5
Risks............................................................................................................................................5
Key performance indicators........................................................................................................5
Protection of intellectual property...............................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Innovation is basically the process of creating new idea, thoughts, products, method or
device. The main aim of this report is to promote the new product being launched by Sainsbury
which is biodegradable water bottles and assess its effectiveness in market.
This report gives overview of background of company, commercial funnel and NPD
process, innovation case, funding resources, risks, key performance indicators, protection of
intellectual property.
MAIN BODY
Background of company
Sainsbury is basically the largest and renowned retail organization being established in
1869 by John James Sainsbury and headquartered in London, United Kingdom. This is basically
one of the renowned organization in groceries which have made its position in the market from
past few years. It mainly deals in groceries, banks, fuel, cafe, clothing sector etc. Talking of the
commercial potential of the company, it has a great market share of around 15.3% and has a high
revenue and profit ratio (Purchase, Kum and Olaru, 2017). In the year 2019, the average profit of
Sainsbury was recorded to be around 239 million British pounds. It has a great market value due
to its high brand awareness and brand recognition.
Commercial funnel and NPD process
Commercial funnel is basically the various stages of buying which a customer goes
through while purchasing the particular product or service. The major importance of this funnel
is that it helps Sainsbury to find the motivational and interest factors of consumers which leads
them to the purchasing and thus helps to generate a desire and awareness within them regarding
their products (Libaers, Hicks and Porter, 2016).
New product development process is predominately the process through which
organizations develop a new product or brings major modifications in the existing one. The main
importance as well as befit of this process is that it allows Sainsbury to develop a new product or
service in the sequential manner and assists in their organic growth.
Innovation case
Mission
To provide a healthier environment to the people and work towards their health benefits
by delivering the high quality product as well as services at the most competitive cost.