Innovation and Commercialization

This presentation provides insights into innovation and commercialization. It covers topics such as the overview of the company, marketing opportunities, financial projections, sources of funding, techniques for testing, and protecting intellectual property. Learn how innovation can drive sales and productivity in a business.

Innovation and
Commercialization

Table of Content
■ Introduction
■ Overview of company
■ Commercial funnel for providing solution to problem
■ Innovative new drink product proposed
■ Marketing opportunity of innovative new drink
■ Overview of industry
■ Financial projection
■ Sources of funding
■ Funds that are required to be raised
■ Techniques for testing
■ Different tools for protecting intellectual property
■ Conclusion

Introduction
Innovation refer to the process of converting an idea and thought into a good and
service which generate value and the customers will ready to pay for that. It can be
a process by which a business origination use something new within its existing
products and services of the company.

Overview of the company
YOYO drink is a small size enterprises which operate its business in the United
Kingdom and manufacture mango flavor lassie. This organization was founded by
Mr. Bond and it was started three years ago and has been fast growing and
developing. There are several business innovation ideas that can be considered by
the administration of the firm.

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 The administration of the company can make innovation in its existing business
by making organic drinks.
 The management of the firm can make innovation by by low sugar and calories
in its drinks products.
 The firm can make creation in its current product by manufacturing it in
different flavours like banana, chocolate, strawberry and others.

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The management of YOYO Drinks can adopt the idea of manufacturing products in
different flavours. So that the administration can maximize the sales of the
company making these kind of creation in its business. It is beneficial to the
company because help in maximising the productivity of the company due to the
drinks will be available in different flavours which I liked by different gender
and ages of target audiences

Commercial funnel to provide a solution of problem
Commercial funnel is crucial for YOYO drink to bring preservative Lassi within the market
place. Determination of these are as following:
 Pricing policy
 Improving way of growing business
 Implement investigation program-mes

Innovative new drink product proposed
In order to decrements in the sales of the product of YOYO drink company, the management of
this organization decided to make innovation in its existing products to make increment in the
sales of the company.

Marketing opportunity of innovative new drink
There are various market opportunity for YOYO drink to carry their progressive new drink in
the market. As respective organization can make collaboration with some well known
organization which help them in gaining market opportunities in order to make increment in the
sales of the firm.

Overview of industry
YOYO drink manufacture healthy drink like mango lassi so it belong to food
industry. In UK, Food and drink sector is a major element of the UK manufacturing
economic system, representing over 15% of manufacturing turnover and job
opportunities.

Financial projection
In YOYO drink, the management of this company required ￡ 35,000. Because
when this firm make innovation in its existing products, the management organize
market analysis and market research process to identify the need and demand of the
customers so that they can manufacture products according to them which provide
satisfaction to their desires.

Sources of funding
Any organization can not operate and function its
business without fund and the money is also needed
to make a business function is known as business
funds Some of source of funds are as following:
 Loans form bank and financial institutions
 From friends and family
 Venture capital

Funds that are required to be raised
There are different kind of funds which are needed and required by the management
of the organization to operate the business of the company. In YOYO drink, the
management of the company can raise fund for different actions and activities of
the firm such as production, marketing, research, technology and others.

Techniques for testing
To test the effectiveness of protective flavor lassi, it is important and necessary for
YOYO drink to test this product to market when it firstly manufactured by the
company. It will be essential for the company because with the help of it, they can
know about the effectiveness of its products.

Conclusion
As per the described information, it can be analyzed that innovation is essential for
running and operating the business of a company till long period of time. It is also crucial
for making increment in the sales and productivity or gaining competitive advantages from
market place.

Reflection
After completing the work in a group I get to know about many things such as
commercial funnel which facilitates a solution to the problems. This presentation
helped each and every members to improve their communication and team
development skills. We all focused towards achievement of goal and objectives.

References
■ Maritz, A. and Donovan, J., 2015. Entrepreneurship and innovation: Setting an agenda
for greater discipline contextualisation. Education+ Training. 57(1). pp.74-87.
■ Mazzarol, T. W. and Reboud, S., 2017. Entrepreneurship and innovation. Tilde
Publishing and Distribution.
■ Pachura, A., 2017. Innovation and change in networked reality. Polish Journal of
Management Studies. 15.

Thank You