Innovation and Commercialization

Innovation and Commercialization
( PART B)

Introduction
Innovation is a process of introducing and implementing new ideas or
methods to produce innovative and creative products and services. It
includes development of new applications for existing technologies and
delivering products with increased value. On the other hand
commercialization is concerned with launching new product or service in
market and this includes production, sales, distribution, marketing and
other important functions which assist towards achieving commercial
success for new product or service.

Company overview and problem
It is based on YOYO drinks which is situated in UK offering mango flavoured
Lassi. The company was started three years ago and have achieve rapid growth
in UK market. At the initial level company launched one drink that was
healthy mango lassi and have seen increase in sales in these years because of
innovative product and effective distribution channel. Now the problem for
company is that there is significant increase in sales of Lassi because of cut
throat competition in the market. To face this problem manager of company is
planning to launch new range of flavoured Lassi for customers within UK
markets.