Innovation and commercialization - Superdrug

This report is on "4 Ps of innovation and uses of innovation funnel". The present report is based upon the Superdrug which is founded by Ronald Goldstein and Peter Goldstein in 1964. Superdrug deals in health and beauty care products and also engages in its own pharmacies business. This report will include the background of the concept of innovation and also its difference between invention and innovation. It further elaborates on identifying different types of innovation. It also includes the process which is required in commercializing innovation. Lastly, the report ends up with various methods which are considered in respect of protecting the ideas and also examining their advantages and disadvantage regarding the appropriate innovation.