Innovation and Commercialisation

This presentation discusses the concepts of innovation and commercialisation. It covers the company's background and problems, the commercial funnel, an explanation of an innovative new drinks product, a summary of marketing opportunities, an overview of the industry and competition, financial projections, sources of funding, techniques for testing new drinks effectiveness, and tools for protecting intellectual property rights.

Innovation and
Commercialisation

Table of Content
• Introduction
• Company's background and problems
• Commercial funnel
• Explanation of innovative new drinks product
• Summary of marketing opportunity
• Overview of industry and competition
• Financial projection

Cont....
• Sources of funding
• Funds that are needed to be raised
• Techniques for testing new drinks effectiveness
• Several tools that can be used to protect intellectual property rights
• CONCLUSION
• REFERENCES

Introduction
Innovation refers to the process through which individuals identifies
solutions for the existing problem or the common problem through
which all are going through. Whereas commercialisation is considered
as the launching or introduction of new product or services at
marketplace which will satisfy needs and requirement of customers in
right direction.

Company's background and problems
YOYO Drink is known as the small scale organisation, the founder of
this is Mr. Bond. He started his business three years ago as well as the
firm sell mango flavoured lassi. Its sales is constantly as they uses
innovative formula and distribution capabilities of the oraganisation.
But after 3 years, its sales get reduces. As many competitors enter into
which is a major problems for them.

Commercial funnel
In organisation, commercial funnel is defined as the framework which
have 3 aspects that assist to recreate their present product by executing
various profitable plans as well as policies. This is significant for
respective company to introduce Tutti-Frutti chocolate lassi within
market. Few of their utilises as well as significant are explained below:
• Pricing Policy
• Improving the development of business
• Emergence of advanced technology
• Implementing the research programmes

Explanation of innovative new drinks product
YOYO Drink is introducing their innovative products that is Tutti-
Frutti chocolate lassi which helps them to attract more or huge clients.
This new product have chocolate flavour tastes as the tutti-frutti present
in that make that ore attractive. It maximises respective company sales
and profit again in United Kingdom market.

Summary of marketing opportunity
As YOYO Drink is planning to launch their new product drinks which
is Tutti-Frutti chocolate lassi within market so it has many opportunity
in the market. Like, it can collaborate with some well known and
famous company so that they can able to obtain more opportunities into
market and increase its sales. Also, respective firm can able to offer
some kinds of discounts and coupons which aids them for grabbing the
attention of more consumers.

Overview of industry and competition
As YOYO Drink is a a small scale firm that offers healthy and tasty
lassi like mango flavoured lassi. This organisation is related with the
food industry. In UK, The industry such as food and drink sector is
known as the important element of respective firm ecosystem which
shows about 15% of manufacturing turnover and opportunities of job.

Financial projection
In this, the funds are shown which is needed by company for
introducing new products. As YOYO Drink is launching their
innovative product that is Tutti-Frutti chocolate lassi within the United
Kingdom market. So, they required about £ 30,000.

Sources of funding
Generally funding is considered as the backbone of the organisation as
without it they are not capable to do their regular business activities
efficaciously. Moreover, funding is defined as the act of facilitating the
financial resources mostly in the forms of money. Few sources of
funding that can be used by YOYO Drinks are explained below:
• Banks and financial institution
• From friends and family

Funds that are needed to be raised
As YOYO Drink is introducing their innovative product that is Tutti-
Frutti chocolate lassi so it is essential for them to raise their funds for
the marketing, producing, technology etc. this will assists them to
consider appropriate place within competitive surroundings.

Techniques for testing new drinks
effectiveness
For testing the efficiency of the respective company innovative product
that is Tutti-Frutti chocolate lassi, so it is essential for them that at
starting it test its new product in market area by offering the free
sample to the public of United Kingdom. Because this will assists them
in finding that innovative product such as Tutti-Frutti chocolate lassi is
liked by clients or people or not.

Several tools that can be used to protect
intellectual property rights
Intellectual property is considered as the wide term which is related to
intellect that means someone who utilises their mind creatively.
Moreover, this is the property of individuals who develops, designs that
property applying creativity of their own mind as well as intellectual
property rights.
• Trademark
• Copyrights
• Patent

CONCLUSION
From the above PPT, it has been concluded that innovation is
significant for operating the business in smooth and effective manner in
order to sustain for longer period in competitive market. Moreover, it
help them to to maximise sales as well as productivity and obtain
competitive advantage into market.

REFERENCES
• Thore, S. A. ed., 2012. Technology commercialization: DEA
and related analytical methods for evaluating the use and
implementation of technical innovation. Springer Science &
Business Media.
• Van Hemert, P., Nijkamp, P. and Masurel, E., 2013. From
innovation to commercialization through networks and
agglomerations: analysis of sources of innovation, innovation
capabilities and performance of Dutch SMEs. The Annals of
Regional Science. 50(2). pp.425-452.

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