Innovation and Commercialisation

This presentation discusses the sources of funding available to YOYO Drinks, the effectiveness of their new drinks product, and the marketing opportunities it presents. It also explores the industry and competition, financial projections, and the tools YOYO Drinks could use to protect their intellectual property rights.

Innovation and commercialisation

Introduction
• It will describe sources of funding available to the YOYO Drinks
• It will highlight effectiveness of the new drinks produce

company and the problem
• Innovation is a course of action where new ideas are converted to a useful product
which have some value in the market. The company YOYO Drinks is a UK based
company founded by Mr. Bond 3 years
• before. At the starting of the business company just launched a mango lassi and a rapid
growth was seen in just year years.

commercial funnel
• It is also called sales funnel. It defines the
journey of customers towards purchase of
products and services
• It is useful in choosing marketing
strategies according to the awareness of
products and services (Lipkova and Braga,
2016).

Details of innovative new drinks product proposed
New process development is the process of introducing new product in the marketplace. Company
need to engage in new product development because of change in customer needs, advance
technology and increase competition.
• Idea generation
• Idea screening
• Concept development and testing
• Business strategy
• Product development
• Test marketing

marketing opportunity of the innovative new drinks product
proposed and how it would meet the needs of stakeholders.
• YOYO drinks have done an innovation in there products when a sudden decrease in sale
was seen.
• They come with a new product Spicy kiwi and mint lassi which was quite different from
there previous product mango lassi. The product was innovative and delicious in taste
then that from other drinking produ
• cts and without putting much efforts the product reached there potential customers.

Overview of the industry and competition
• Industry of fast food and beverage
industry is performing well and
contributing in developmentof economy
of country.

Financial Projection
Cost Amount
Marketing 2000
Research cost 5000
Administration cost 1000
Production cost 4000
Total cost 12000 Pound

Sources of funding
• Bank loan
• Venture capital
• Personal Savings

Any capital/ funds that are required to be raised
• Market research is the element in which firm can raise its
funding because this would help in analyzing need of
consumers more effectively.

effectiveness of the new drinks produce and where this will fit
into the process
• Although the risk was high and chances of losing market share to
competitors was there but YOYO drinks go through the risk and able to
attract new customers by innovating new product that is spicy kiwi and
mint lassi and launching it in the existing market.
• It was easy for the firm to make improvement in the drink and launch it
again in the same market as customers were already aware about the
product and loyal customers generated awareness to other customers.

different tools YOYO Drinks could use to protect the intellectual
property rights of a new drink
• Patent:-
• Trademarks:
• Copyright

Conclusion
• The developments in frugal innovation in organisational context and importance of
commercial funnel and application of NPD is also been concluded in the report. At last
the report concluded on different tools that YOYO drinks used for intellectual property
right.

References
Bashmakov, A. I. And et.al., 2015. Generic Heurorithm of Innovation Management from
Generating Ideas to Commercialization. European Research Studies.18(4).p.47.
Greco, M., Grimaldi, M. and Cricelli, L., 2015. Open innovation actions and innovation
performance: A literature review of European empirical evidence. European Journal of
Innovation Management.18(2).pp.150-171.