Innovation and Entrepreneurship

Innovation and
Commercialisation

Executive Summary
Innovation and commercialisation is a crucial part of every business firm in order remain
relevant, competitive, and profitable. The ideal behind innovation is to come up with unique idea
that matches the need of the target market. BEAUFIT drinks is the business firm which provides
healthy and detox drinks to the customer who likes to consumer beverages but are health
conscious at the same time. BEAUFIT comes with additional feature of detoxing the body up to
70% and helps in losing weight, improves metabolism, reduce inflammation, well-functioning of
liver and many more.

Table of Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................1
Start-Up Business Idea of BEAUFIT Drinks...................................................................................1
Industry profile.................................................................................................................................1
Business model of BEAUFIT..........................................................................................................2
Points of differentiation...................................................................................................................3
Challenges to business idea.............................................................................................................3
Perspective customer.......................................................................................................................4
Marketing plan.................................................................................................................................5
Competitor analysis.........................................................................................................................6
Sources of Funding..........................................................................................................................7
Intellectual property rights...............................................................................................................7
Conclusion.......................................................................................................................................8
References:.......................................................................................................................................9
Books and Journals.................................................................................................................9

Introduction
Innovation is the concept based on bringing up new ideas and methods into the business,
implementation of which brings new good and services or improvement to the existing goods
and services offered by the company. Innovation adds new features to the product which add
more value to the product and customer or introduce new good and services, commercialisation
of which brings revolution in the market. Companies made innovation to keep up the pace with
the changing environment, changes in the desire and wants of the customer to have a competitive
edge over others (Son, Chung and Yoon, 2020). BEAUFIT drinks comes with a product which is
a both healthy and energetic at the same time. Being detox drinks, BEAUFIT comes with some
additional features of improving health and beauty. The below mentioned covers the overview of
the business including perspective customer, competitors, differentiation of the product, sources
of funding and anticipated challenges faced by BEAUFIT at the time of commercialisation.
Start-Up Business Idea of BEAUFIT Drinks
BEAUFIT drinks is a start-up company, founded four year back from now, headquartered at
Liverpool, North West England, United Kingdom. The company came into existence with the
objective of providing and health and energetic drinks to the younger and adult generation, age
group from 16-40 years. The idea came into existence when there was growing concern among
the people about the high consumption of carbohydrate drinks which leads to the obesity, high
cholesterol, diabetes and hypertension among the young generation. The goal of BEAUFIT is to
maintain the trend of beverage consumption but at the same time providing health nutrients (Apa
and et. al., 2020). The drinks is a blend of milk and soya with additional nutrients which work as
two-in one- energy drink while killing the toxins of the body. The drinks comes into three natural
flavours with additional benefits such as, Improves skin, boost energy, and improves digestion
and liver function. The name of the drinks or company is an acronym for Beauty (BEAU) and
Fitness (FIT), complementing the dual purpose of drinks. The drinks is recommended for fitness
freaks, working women, young generation with less physical exercise.
Industry profile
Food and drinks industry in UK market is one of the leading manufacturing sector
amongst others and forms ad part of complex supply chain in the market. With the extensive
research and development programmes in UK there is growing demand for new and innovative
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