Amazon Go: Exploring New Product Development and Commercialization

This report provides an analysis of Amazon Go's approach to new product development and commercialization. It begins by introducing the concept of innovation and its significance, followed by a background on Amazon Go as an online retail service provider. The report explores the company's ideas for new product development, including advancements in buying processes and consumer tracking. It delves into the processes of idea generation, screening, testing, and business strategy analysis, alongside the use of commercial funnels to drive sales. The report also examines the tools used for testing, which help in evaluating performance gaps and identifying potential issues. Furthermore, it discusses the protection of intellectual property, highlighting the importance of safeguarding patents and trademarks. The report concludes by summarizing the key findings and emphasizing the importance of innovation for business success, with references to relevant academic sources.

Innovation and
Commercialization

Cover content
• Introduction
• Background of organization
• Ideas for new product development
• Solution to the problem by using commercial funnel
• Tools for testing
• Protection of intellectual property
• Conclusion
• References

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Process needs to be followed for
enhancing a new product:-
• Idea generation
• Idea screening
• Testing
• Analysis of business strategy
• Product development
• Market testing
• Commercialization

Introduction
Innovation is a term which defined as a “new idea” or “creating
something different” for distinct purposes. Therefore, presentation is
going to highlight the creativity of Amazon Go which is a leading
grocery company in a Washington engaged in offering online services.

Background of organization
Amazon Go is a grocery store which provides online retail services to
their client by facilitating them with outstanding products. Basically, first
or foremost store of an organization was established on around
December 5, 2016 for employees whereas almost January 22 , 2018 it
was opened for customers.

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Ideas for new product development
Amazon Go is involving in
launching number of creative
things such as; advanced
technique of buying process,
transaction through modern tool,
tracking of consumers hence
forth. It means, company is
engaging in developing their
product by using various
methods.

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Process needs to be followed for
enhancing a new product:-
• Idea generation
• Idea screening
• Testing
• Analysis of business strategy
• Product development
• Market testing
• Commercialization

Solution to the problem by using
commercial funnel
Commercial funnel is known as a sales in which an appropriate
procedure is described which starts from contact to final sale. It is also
consider as a marketing system by which an organization may enforce
consumers towards buying of specific product in order to experience
something new.

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Tools for testing
Testing process is indispensable for analysing the effectiveness of an
organization and their current performance. However, it means
comparison between actual result with projected one is going to be
accomplished for determining the gap of success. Along with this, it
also help in understanding the reason behind loss by identifying hidden
issues and barriers which may hamper the overall company
performance.