Innovation and Commercialization: NPD Process and Tools for Protecting Intellectual Property

This presentation explores the process of new product development and the tools organizations can use to protect their intellectual property. Learn about innovation, market analysis, commercialization, and the different types of intellectual property rights. Understand the importance of following procedures and achieving objectives.

INNNOVATION AND
COMMCERICALIZATION

TABLE OF CONTENT
 Introduction
 New development processing of product and innovation
 New product development processing in reference of new
product:
 Tools that organizations can use to develop, retain and protect
knowledge and intellectual property.
 Conclusion
 References

Introduction
Innovation and commercialization are important process and part of
enterprises which are required to adopted. This report comprises of
NPD process and protecting tools for intellectual property rights
used by organization. Innovation refers to process of bringing up
something new. Main purpose of this presentation is to examine the
understand the concept of innovation.

New development processing
Market is dynamic and flexible so it is essential to organization must
be analysis of market. Innovation in context of product and
commercialization means that product is available in the
marketplace and it is ready for consumer. Commercial funnel is
also know as sale process of company which is help to determining
the need and wants of customers.

Interest Action-: Essence drink must be develop a interest of
customer because it is essential to customer take interest in that way
to requirement of particular product so accordingly company plan
the strategies.
Decision-: This is third step when customer take decision purchase
this product. In context of company. It impact on sales and increase
revenue so pushing customer to purchase that product.
Continue…..

Market strategy-: In that phase implementing strategy and
evaluation market, segmentation and targeted audience.
Essence drinks, implement strategies in that manner to gain
competitive advantages and increase sales.
Analysis-: Company overall analysis on that basis market,
manpower and resources.
Continue…..

New product development processing
Generating ideas-: It is first stage in that company generate
new thoughts which is related about new product. Create
market research and identify opportunity in market.
Idea screening-: Company got ideas so must be evaluated on
the basis of according market trends. Discussion with their
employees and choose appropriate idea.

Continue….
Commercialization-: After cover all the stage now product
commercialized in market. Company managing sale perspective on
that basis and launch product.
Therefore, Essence company to use various method to promote
product and create lot of innovation in context of new product.

Strategies tool and tacit-: Essence of company launch new product
so must be plan strategies to gain competitive advantages and
product sustain in marketplace. Organization must be develop
product strategy and pricing strategy.
Analysis consumer behavior-: On that basis organization must be
examine customer behavior and know about the perception
regarding product.
Continue….

Tools organizations use to retain intellectual
property.
Intellectual property
Intellectual property is legally protected and owned by an
organization tom perform several business activities including
innovations, logos and models. Rights are given to persons over the
creations of their minds. They usually give creator an exclusive right
over the use of his/her creation for a certain period of time.

Continue……
Copyrights: copyright is a type of intellectual property which means
protecting the author's work given by the government of United
Kingdom. It suggest that whatever content is made by the author
cannot be used by another.

Advantages:
It protects uniqueness of the work.
It helps to modify, distribute and enables public performance.
Disadvantages:
Limited dissemination: Copyright strictly avoid wide
information because of the possibility of similar sources.
Cost: registration of Copyright tool can be the costliest for
organizations.
Continue….

Continue…
Trademarks: Trademark is an intellectual property which helps to
protect brand names and logos that used for every goods and
services. It enables consumers to make a quick, confident and safe
purchasing decisions.

Advantages:
It allows consumers to easily choice the product because there is
no need of reading all ingredients as trademark is clearly visible on
the product.
Trademark can inform consumer directly about product on the
basis of terms and values.
Disadvantages:
The register trademark is very costly.
Sometimes customers forget to recognize the brand.
Continue…

Continue…
Design protection: It is a type of intellectual property which helps
to protect the unique design of products. The product can be any
shape, color, pattern and characteristics of the product. Generally
government regulate and protect the designs so that organization
have safe and secure designs.

Continue…
Advantages:
Protection of design symbolizes the overall look of the
organization.
Disadvantage:
An individual character is required for design
If some other organization has similar design then there will be
a difficulty in analyzing the product.

Continue…
Patent rights: It is a form of intellectual property which gives
owner the legal rights to exclude others from making, using, or
selling an invention for a limited period of years in exchange
for publishing an enabling public disclosure of the invention.

 A patent gives right to an organization to stop their
competitors in selling, manufacturing or copying the
products.
 It provides license property which suggest that a person who
has license can sell the product in market.
Disadvantages:
 Patent application suggest technical information which
create difficulties.
 It can be a time consuming process or a lengthy process.
Continue…

Conclusion
From analysis of this presentation, it has been examined that it is
important to systematically follow procedures when developing new
product. This presentation includes new product development
procedure & tools for protecting intellectual property. Thus, it is
crucial to be aware about both these concepts so that objectives are
achieved.

Akoum, I., 2016. Research, development and innovation in
Malaysia: Elements of an effective growth model. Asian Economic
and Financial Review, 6 (7), p.390.
Bansi, R., 2019, September. Challenges to the Commercialization of
University Innovation: A South African Study. In International
Conference on Innovation and Entrepreneurship (pp. 117-XV).
Academic Conferences International Limited.
REFERENCES

Madsen, L.D., 2017, September. From Discovery through to
Commercialization: Federal Support. In ECS Meeting Abstracts
(No. 39, p. 1684). IOP Publishing.
Mohan, S.R., 2016. Strategy and design of Innovation Policy Road
Mapping for a waste biorefinery. Bioresource technology, 215,
pp.76-83.
Polzin, F., 2017. Mobilizing private finance for low-carbon
innovation–A systematic review of barriers and solutions.
Renewable and Sustainable Energy Reviews, 77, pp.525-535.

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