Innovation and Commercialization in the Chilly Industry

This report explores the concept of innovation and its comparison with invention in the chilly industry. It discusses how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. The report also highlights the importance of the commercial funnel and the application of new product development. Additionally, it provides insights into the tools used by organizations to protect intellectual property rights.

INNOVATION AND
COMMERCIALIZATION

Table of Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P1 Concept of innovation and its comparison with the invention..............................................3
P2 Organisational vision, leadership, culture and teamwork can shape in innovation and
commercialization.......................................................................................................................4
LO 2.................................................................................................................................................5
P3 & M2 Four P's of innovation and use of innovation funnel...................................................5
P4 &M3 Development in frugal innovation................................................................................6
LO 3.................................................................................................................................................7
P5 Importance of the commercial funnel and application of new products development..........7
P6 &M4 Innovation business case for chilly..............................................................................8
LO 4.................................................................................................................................................9
P7 Different tools adapted by organisation in respect of undertaking the rights on intellectual
property.......................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation refers to the process of bringing new ideas and thoughts in products and
services which is different from the exiting products in market. Through this aspects, in respect
of innovation, it attract the customer towards the services and also beat competitors strategy in
respect of sustaining their business at global level (Innovation, 2019). Innovation is mainly
determined in resect of adapting the new identity in products which helps business to grow at
larger scale. Once the innovation is undertaken in business, the next step is relating to
commercialization of the new products or services in market. Through this procedure, they
attract the customer through providing the new quality or wider range of vaiti8es in products.
Present report is based upon the chilly and this concept is founded by James Butterfield and Tim
Bouscarle in 2010. This report will includes the concept relating to innovation and also its
comparison with the inventions. It also different types of innovation which shape the innovative
ideas of the business. Further the report carries with the process which is required to
commercialised innovation. Lastly the report ends up with determining the range of products
which is used in protecting the ideas and knowledge of the intellectual property.
LO 1
P1 Concept of innovation and its comparison with the invention
Innovation refer to the process of bringing new ideas, thoughts and views in existing
products or launching new products in market. Through the concept of innovation, the integrity
of the company is determined through attracting or satisfying large number of customer towards
their products or services (Antony, Setijono and Dahlgaard, 2016). The importance of innovation
in business is relating to
Increasing the productivity: Through the aspects of innovation at work place, it results in
increasing the productivity of the business by getting more sales in market.
Examine competitors strategy: Through innovation, the techniques of competitors is examined
through attracting the customer interest towards their products and retain their interest for longer
way.
Social media platform: In respect of advertising the innovation of business through online, they
can build the large customer base and also resolve the issue of the customer through online
media (Archibald and Archibald, 2016).

Thus, there are various aspects through which the comparison is undertaken in respect of
inventions such as:
Factors Inventions Innovations
Meaning Invention are mainly examined
in respect of bringing new
products in market.
Innovation are done in respect
of attempting or changing the
exiting products to determine
the new identity in market.
Protection of rights The holders of invention are
protected under the patents act
in case of bringing new
inventions (Bertoni and
Tykvová, 2015).
Usually the holder of
innovation are not protected.
Examples Telephone, electricity Computer software and
coding.
Thus, through this aspects, the innovation in respect of chilly is related to chilly bottles
which is specially designed for travellers. As their main aspects is to keep the water colesd fro 24
hours and also to reduce plastic usage in country.
P2 Organisational vision, leadership, culture and teamwork can shape in innovation and
commercialization
In context of shaping the chilly company, it undertakes various aspects through which the
procedure is undertaken such as:
Organisational vision: the main vision of the chilly is to save environment through grabbing the
reusable products. As plastic bottle harms the environment and also affects the life of the people
and animals. Thus, their main mission is to expand the business instead of facing lot of
competitors in market. They also provide eco friendly services to customer so that they can retain
their customer interest towards the services for longer time period (Coleman and MacNicol,
2016).
Leadership: Before innovating any product in market, the chilly use the participative leadership
style in which they motivates the team members to bring innovative ideas at work place and also

applies them if such ideas is unique and beneficial for company. Through this aspects, they
gather the involvement of every staff in respect of innovating any new ideas at work place.
Culture: The managers of the chilly applies the handy culture model in which they play the major
role in respect of motivating staff to accomplish task within stipulated time. As every person
carriers different background and culture in respect of dealing in certain matters (Cooper, 2018).
Thus, chilly use the handy culture theory to interact with employees personally and build strong
relationship with them.
Teamwork: In respect of motivating employees to work as team, chilly uses the Belbin theory in
respect of motivating staff to determines their weakness and than make improvement in respect
of gaining wider areas of knowledges (CORTIMIGLIA and et.al., 2015). As the manager and
leader uses this theory in respect of treating every employees individual and also assigning work
according to their capability to accomplish such task within stipulated time.
Thus, through this aspects they can shape the innovation and use the commercialization
procedure in better way.
LO 2
P3 & M2 Four P's of innovation and use of innovation funnel
In respect of innovating any products in market, it carries 4p's of innovations such as:
Product: In respect of undertaking any new products in market, the customer are attracted if they
find any new innovative products which can satisfy their needs in better way. Thus in such
manner, to bring any new products in market, the customer are attracted if they find the products
with best quality and low pricing.
Process: It undertakes the completes strategies regarding producing the products to the delivery
made to customer to fulfil their needs. As it requires adequate care and protection in respect of
delivering the products. Thus, process is also considered to be innovation in context of providing
products to large number of customers (Costello, 2015).
Position: It mainly related to using the innovative promotional techniques to attract the customer
towards the chilly bottles. This can be undertaken in respect of using the online digital platform
to build the strong base with customer and resolve issue to get better reviews after availing such
products.

Paradigm: It carries the changes which is specific and unique in comparison to others. In this the
manager take the initiative in respect of understanding the needs of changes and the reviews after
using such products in market (Dodge and et.al., 2017).
Innovation funnel: In this the ideas are circulated at work place by determining the
needs which is available in market and also which can satisfy the customer needs at better level.
Thus, the innovation funnel is used by the chilly in respect of circulating the ideas which is given
by the staff in respect of determining the needs of chilled water which is to be kept for longer
hours (Feeney and Pierce, 2018). Thus, appropriate ideas and procedure is to be gathered from
staff regarding adapting this innovation and than undertaking this innovation to gather better
results.
P4 &M3 Development in frugal innovation
In respect of undertaking the matter related to frugal innovation, it is undertaken in
context of reducing the complexity in the products which is examined in relation to reducing the
costs (Gibson, 2016). Thus, in this aspects, their is reduction in non essential elements from the
products so that thy can manage the cost effectively and also sustain the integrity of the products
in market.
For examples:
Chilly company deals in providing the chilled bottle in market and it is specially designed
fro the traveller which are travelling on frequent bases and thus the demand of the cold water is
raised. Thus, in that case the frugal innovation is examined in respect of reducing the cost of the
products in market. As this concept is initiated by many person but they offer higher prices for
such innovation. By viewing this aspects, the innovation is examined in respect of bringing the
electric bottles to the traveller to keep the water cold for 24 hours.
Frugal innovation used in chilly: In this aspects, the frugal innovation is applied under
chilly in respect of reducing the manufacturing cost and also making available to customer at low
prices. Through this aspects, it make it available to customer at low budgets by reducing the cost
of making the products. They can also reduces the expenditure in respect of undertaking the
research and development activities (Goffin and Mitchell, 2016). As most of the company
expenses are spend in this aspects. Thus, they can save the products innovation in respect of
applying the frugal innovation at work place.

LO 3
P5 Importance of the commercial funnel and application of new products development
In respect of undertaking the matter related to commercial funnel, it mainly depends upon
the sales. As the company integrity depends upon the sales procedure and the aspects which they
untaken to enhances the sales activity (May, 2015). Thus, through this aspects, the commercial
funnel means overviewing the journey of the customer in respect of buying the particular
products or dealing in services. The importance of the commercial funnel refers to :
 Converting the website visitors to the email user: this is one of the important aspects of
the commercial funnel, as in this many people visits the company website but not prefer
to deal or purchase the chilly products. Thus, in such aspects, buy converting the websites
visitors to email resulting in dealing with them personally and also telling about the
benefits regarding the usage of the products.
 Targeting the right customer: Through this aspects, they can target the right customer
towards their products. As chills deal in carrying the chilled water bottle which is mainly
helpful for the traveller which are travelling on daily or weekly bases (Mierke,
2016).Thus, through this aspects, it is necessary to target the right customers towards
their innovation.
In such manner, it also identifies different stages in respect of undertaking the procedure
of innovating in new products such as
Step 1: By conducting the Research regarding innovation: Before bringing such chilly bottle
in market, firstly the needs is identified regarding attaining such particular products in market.
Through this aspects, the needs is identified in respect of undertaking the market research by
interacting with customer regarding the availability of such products.
Step 2: Conducting screaming procedure: As before introducing this products in market,
screaming is done regarding the necessity of innovating their products in market. Usually only
limited person or travellers are in needs of carrying this chilly bottle, thus screaming is done in
respect of attaining this innovation in market (Mohd Adnan and Valliappan, 2019).
Step 3: Undertaking testing and stability of the products: In this, products designing is done
in respect of keeping the customer views and thoughts at the time of producing such products.

Step 4: Analysing the integrity of the products: The analysis of the products is done by the
manager of the chilly in respect of determining the overall procedure in respect of producing the
products. It carries cost, raw materials, human work force or any other things.
Step 5: Production development: In this aspects, it carries the meeting with every department
regarding carrying the discussion in context of producing the products. In this the reviews of the
marketing department, finance and sales department are also needs to share their reviews
regarding producing the products with keeping the chilly budgets in mind (Mortazawy, 2018).
Step 6: Samples in market: After undertaking all such aspects or producing the sample
products relating to chilly bottle in market, sample is launched by giving the free samples to
travellers so that they ca share their reviews to enhances the stability of innovation in better way.
Step 7: Commercialization the new products: In this aspects, after undertaking all such
aspects, the new products is to be undertaken in respect of promoting the products in market and
also launching the new innovation to attract the customer needs towards getting the cold water
for 24 hours at the time of travelling.
Step 8: Reviewing the market sustainability: After launching such innovation in market, the
sustainability of the innovation is determined in respect of examining the reviews of the
customer after availing such products in market (Muls and et.al., 2015).
P6 &M4 Innovation business case for chilly
Innovation is the major aspects in respect of maintaining the dignity of the company and
also sustaining their business in market for longer time period. In context of undertaking the
requirement of the chilly in innovating the chilly bottles in market, the following aspects are to
be undertaken as follows:
Necessity of innovation: In this aspects, to maintain the reputation of chilly in market, it is
necessary to bring innovation in products. As to retain the customer towards their products,
chilly bring the electric bottles which is specially designed for travellers and also their main
reason is to avoid plastic bottle which harms the environment (Naqshbandi and Jasimuddin,
2018). Thus, this is the main reason of bringing innovation at work place.
Solution in sustaining sales: As due to maintaining the sales flow in market and if their is no
such sales regarding such products, thus it is necessary to organise the events through which the
usefulness of the products is interrupted to the customer. As this innovation is unique and
different from other which reflect the safety of the environment.

Innovation in products: Through the aspects of sales, it determines the integrity of the chilly
company, thus in such manner, innovation is done in respect of either bring changes in existing
products or innovating some new products in market. In this aspects, the chilly bottle is one of
the innovation which is unique from others.
Research and development: Before innovating any products in business, it is necessary to
examined the demand in market regarding using the particular products. Thus, after getting the
proper critters regarding the products usages, innovation procedure is to be set regarding building
the large customer base in global market (Neumann and et.al., 2017).
Budgets: Before the procedure of innovation is started, the budget is set and this can be
undertaken in respect of taking reviews from all the department. To bring this innovation in
market, the budget is set as 250 pounds.
Outcomes: The outcomes of this innovation came out from dealing the business online. As if
they launch such innovation through digital platform, chilly had to appoint the skilled person to
handle such task in better way. As lot of queries is raised regarding the products usage, the
ingredients which is used in respect of preparing the products and also its benefits and usages
regarding using such products. From this aspects, the actual outcomes is raised regarding the
stability of the innovation in chilly company.
Personal saving: As it is not easy to innovate any aspects at work place, lot of procedure is
needed in respect of reaching to large customer and promoting such products. Thus personal
saving is on risk in respect of innovating such chilly bottle and promoting it at global level.
LO 4
P7 Different tools adapted by organisation in respect of undertaking the rights on intellectual
property.
Intellectual property refers to such property which is designed by using the creative ideas
such as symbols, logos, images which reflect the business status and artistic work of any person.
Thus, it is necessary to be protected so that the right of the individual, companies and groups are
protected and they can sustain their reputation in the market for longer way (Feeney and Pierce,
2018). Thus, various tools are applied by the chilly in respect of protecting their intellectual
rights are such as:
 Patents:In this patents rights are granted to the individual or companies in respect of
protecting their rights of their invention. Usually the patents are granted for the period of

20 years. The main advantages of undertaking this aspects is that it stop others person to
use the right of the patent holder which they are holding in respect of bringing new
invention at work place. The rights of the patentee are protected in respect of dealing in
any such matters (Gibson, 2016). The disadvantage of patent is that this is the time
consuming concept and it is not easily affordable by the the lower class person. In this the
holder of the patent had to keep the record regarding the date of the patent in case of not
undertaking the renewal procedure timely, the patents must be given to other person.
 Trademarks: It carries the logo, design and overall integrity of the products which is
trademark by the owner of such innovation. It also carries the mark which is mentioned
above the packing detail which helps in differentiating the products from different
company products. In respect of chilly company, they carry the trademark rights in
respect of securing the designing or logo of the company so that the concept is not
infringed by any person (May, 2015). The advantages of the trademark is that it helps
owner to differentiated their products and also enhances the customer needs in respect of
preferring the right products. The disadvantage of trademarks is that it is available for
less time period and thus it also carries various similarities regarding the different
products.
 Copyrights: This rights are mainly given to the people which innovate any new work
relating to artistic work or any film or any other action which is unique and not innovated
before. The advantages of giving this rights is that it protect the right of the individual in
respect of composing any song or lyrics which is not presented before in market
(Costello, 2015). The disadvantage of this rights is that it is available for limited edition
and also the rights protected had no surety to be last forever.
CONCLUSION
From the above report, the study concludes that Innovation helps in determining the new
ideas, thought and expression which is helpful in getting the new identity to the business. The
report examined the study of the chilly bottle which is the new concept in market and also helps
traveller to enjoy their travelling with carrying the chiller bottle to get 24 hours chilled water. In
respect of undertaking various aspects regarding the new products development in market it
carries wider ranges of aspects which helps in determining the actual criteria through which the
productivity of the products is increased and also sales ratio is to be increased. Thu, it determines

the overall integrity of the business in respect of protecting the rights of the chilly company in
respect of securing the new innovation related to chilly bottles.

REFERENCES
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Executive Team Must Know about Project, Program, and Portfolio Management.
Auerbach Publications.
Bertoni, F. and Tykvová, T., 2015. Does governmental venture capital spur invention and
innovation? Evidence from young European biotech companies. Research Policy. 44(4).
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Cooper, R. G., 2018. 19. Best practices and success drivers in new product development.
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management systems. International Association for Management of Technology,
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styles towards enhancing performance. International Journal of Productivity and
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Online

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