Innovation and Commercialization

This presentation explores the concepts of innovation and commercialization, focusing on the importance of the commercial funnel, risk assessment, frugal innovation, and meeting stakeholder needs. It also discusses tools to protect intellectual property rights and provides insights into the background and challenges faced by Delamere Dairy drinks, a UK-based company. The presentation concludes with a discussion on the resource requirements for innovation and the techniques to test the effectiveness of innovation.

Innovation and Commercialization

 Introduction
 Background of company and its problem
 Importance of commercial funnel
 Matching goal to resource and capability
 Risk assessment
 Frugal innovation to analyses value
 New innovation to meet stakeholder needs
 Technique to test effectiveness of innovation1
 Resource requirements
 Tools to protect intellectual property rights of new drink
 Conclusion
TOC

 In the recent time companies are continuously focusing on growth and
development of business hence they are making changes in its existing
products or developing new ideas
 Funding requirement for innovation will be explained. Presentation will
explain various IT rights and tools to protect innovation.
Introduction

 Delamere Dairy drinks is the limited firm of United Kingdom that is
working in market since 1985. Firm offers goat and other dairy products to
wide range of customers globally.
 Right now it has branches in many locations such as Hong Kong,
Singapore etc. High competition is the major issue faced by Delamere
Dairy drinks.
 As there are many companies that are offering same kind of products and
services to consumers and many buyers are moving towards these firms
frequently.
Background of company and its problem

 Commercial funnel can be defined as
responsible process in which
company identify needs of
consumers and review their journey
and accordingly make changes in its
products so that it can gain
satisfaction level of its buyers.

Importance of commercial funnel

 The goal of Delamere Dairy drinks is to enhance sales of its new products
healthy drink in UK market and also to develop its global brand image.
 For meeting this goal it is very important for business unit to have great
process and great management.
Matching goal to resource and capability

 Delamere Dairy drinks is the medium size firm but has capability to
manage changes at workplace properly. But implementing innovation is
not a easy process.
 Company may have to face many risk due to which it can loos its market
image and can loose its existing position as well. One of the major risk that
Delamere Dairy drinks can face by implementing healthy drink product is
financial risk.
Risk assessment

 Frugal innovation is the
process of the tool that is
used by companies to
minimise cost of production
and complexities in
production process. This
process is helpful in creating
value to business.
 .
Frugal innovation to analyses value

 Delamere Dairy drinks is planning to offer new product healthy drink to its
valuable consumers.
 As demand of such kind of product is very high in UK market hence
offering them such kind of drink will meet their requirements. Customers
are most important stakeholder of business they will be satisfied because
they will get desired quality material at affordable rates
New innovation to meet stakeholder needs

 Customer feedback is the major tool through effectiveness of healthy drink
can be measured. Test marketing must be used
Technique to test effectiveness of innovation

 In pored to proceed this innovation of new healthy drink Delamere Dairy
drinks needs funds or financial resources. This fund can be received by
business through banks.
 Financial institutes provides capital to companies to expand their business.
This would be easy source of finance through which firm will be able to
get huge amount that would meet its long term funding requirement.
Resource requirements

Intellectual property rights help business to protect their unique ideas.
 Patent: this is the right that protects design and new invention of person.
No other person can use it without having permission of patent owner.
 Trademark: this is another IT right that is taken by business to make it
different from other companies. Healthy drink of Delamere Dairy drinks
can be protected through trademark. Image, name can be protected through
this It tool.
Tools to protect intellectual property rights of new drink

 Commercial funnel or buying process also can make several changes
because it is the main process through products of companies are being
delivered to the final customers after identifying and finding appropriate
products.
 Lastly, it has discussed some tools which companies use for developing as
well as retaining intellectual property.
CONCLUSION

Burmeister, C., Lüttgens, D. and Piller, F.T., 2016. Business model
innovation for Industrie 4.0: Why the “Industrial Internet” mandates a new
perspective on innovation. Die Unternehmung, 70(2), pp.124-152.
Currie, S. ed., 2018. Drawing, 1400-1600: Invention and Innovation:
Invention and Innovation. Routledge
REFERENCES