Innovation and Commercialization

This presentation explores the process of innovation and commercialization, with a focus on Amazon Go. It covers the background of the organization, ideas for new product development, the solution using the commercial funnel, testing tools, and intellectual property protection. The presentation concludes with a summary and references.

Innovation and
Commercialization

Cover content
• Introduction
• Background of organization
• Ideas for new product development
• Solution to the problem by using commercial funnel
• Tools for testing
• Protection of intellectual property
• Conclusion
• References

Continue...
Process needs to be followed for
enhancing a new product:-
• Idea generation
• Idea screening
• Testing
• Analysis of business strategy
• Product development
• Market testing
• Commercialization

Introduction
Innovation is a term which defined as a “new idea” or “creating
something different” for distinct purposes. Therefore, presentation is
going to highlight the creativity of Amazon Go which is a leading
grocery company in a Washington engaged in offering online services.

Background of organization
Amazon Go is a grocery store which provides online retail services to
their client by facilitating them with outstanding products. Basically, first
or foremost store of an organization was established on around
December 5, 2016 for employees whereas almost January 22 , 2018 it
was opened for customers.

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Ideas for new product development
Amazon Go is involving in
launching number of creative
things such as; advanced
technique of buying process,
transaction through modern tool,
tracking of consumers hence
forth. It means, company is
engaging in developing their
product by using various
methods.

Continue...
Process needs to be followed for
enhancing a new product:-
• Idea generation
• Idea screening
• Testing
• Analysis of business strategy
• Product development
• Market testing
• Commercialization

Solution to the problem by using
commercial funnel
Commercial funnel is known as a sales in which an appropriate
procedure is described which starts from contact to final sale. It is also
consider as a marketing system by which an organization may enforce
consumers towards buying of specific product in order to experience
something new.

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Tools for testing
Testing process is indispensable for analysing the effectiveness of an
organization and their current performance. However, it means
comparison between actual result with projected one is going to be
accomplished for determining the gap of success. Along with this, it
also help in understanding the reason behind loss by identifying hidden
issues and barriers which may hamper the overall company
performance.

Protection of intellectual property
Intellectual property is an asset of an organization which make the
company differentiate from their competitors as well as aids in
establishing a positive image at marketplace. Basically, number of
techniques are used for preventing patent, trademarks and various
intellectual property of an organization.

Conclusion
From the entire presentation it has been summarized that innovation is
essential for success and development of an enterprise because
consumer get attracted towards creative items. However, Amazon is
focussing on several tools and techniques to develop a new product for
attaining the target of an enterprise. Previous project is based on
various methods of resolving organizational problems faced while
introducing an advanced item.

References
Davila, T., Epstein, M and Shelton, R., 2012. Making innovation work:
How to manage it, measure it, and profit from it. FT press.
Godin, B., 2012. “Innovation Studies”: The Invention of a Specialty.
Minerva. 50(4). pp.397-421.

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