Essence Drinks: Innovation & Commercialisation Business Case Report

This report presents an innovation business case for Essence Drinks, focusing on the launch of their Kiwi Fruit Drink. It outlines the company's mission, planning for innovation, including the impact of technology and market research, and the assessment of funding and resources required for the product launch. The report also details various tools for developing, retaining, and protecting knowledge and intellectual property, such as trademarks, patents, and copyrights, and discusses the role of branding in protecting innovations. The limitations of intellectual property tools are also briefly addressed. The report provides a comprehensive overview of the strategies and considerations involved in bringing a new product to market and protecting its intellectual assets.

Innovation and
Commercialisation

Table of Contents
P6. Innovation business case........................................................................................................3
P7. Different tools to develop, retain as well as protect knowledge along with intellectual
property........................................................................................................................................4
REFERENCES................................................................................................................................6

P6. Innovation business case.
Innovation plan is a combination of idea generation along with recognising opportunities
in order to grab market opportunities with the purpose to introduce new product or services in the
competitive market (Collyer, 2017). Innovative business case helps in preparation of strategies
along with plans in order to ensure high revenues from organisational products. Certain aspects
that are mandatory to consider at the time of making business case includes scope, advanced
technological impacts, managing information based on market research and hence forth.
Managers of Essence Drinks are planning to launch a new product with the name of Kiwi Fruit
Drink and are preparing innovative business case for such purpose. Following are innovative
business case for Essence Drinks:
Mission: The mission of Essence Drinks is to provide healthy fruit drink to customers as
per their taste and to increase revenue by 20% in the next 4 months along with increasing sales
by 28% in coming 4 months in order to fulfil essential business requirements in effective
manner.
Planning innovation: Innovation of Kiwi Fruit Drink requires proper planning of
activities in order to launch the product in market without any hurdles. The marketers of the
company carefully understands the impacts that technology, management information,
developments methods will face in present era. Technology impacts on planning innovation in
many ways such as influencing creative ideas, transparently immersive experiences and
providing a platform to showcase the innovative ideas. Technology also impacts on managing
information on research by providing processing of transactions, scrutinising the required
information for further use of research data (Pellikka and Malinen, 2014). Other then this, it also
impacts on development methods through influence their usage in planning aspects. By
considering big data along with cognitive systems helps the company to predict behaviour of
customers towards such product and the ways customers will react if certain modifications will
be made. Such consideration will also help in analysing future trends and adopting social media
tools to construct a platform to promote the product and adopting numerous distribution systems
such as distributor sales, direct sales or wholesale sales.
Assessing funding and resources: Essence drinks requires funds to perform activities to
promote the product ion competitive market, collecting materials to develop the product and to
strengthen the production activities so that products are produces in specific time limit.

Some of the funding sources available are banks along with other financial institutions,
family or relatives and friends, unsecured debt, grants or subsidies from government authorities
and raising capital. In order to commercialise offerings, selected company requires monetary
resource approx £58000 along with other resources such as furniture, machines and office spaces
in order to implement all planning activities and gain beneficiary outcomes (Menter, 2016).
P7. Different tools to develop, retain as well as protect knowledge along with intellectual
property.
Intellectual property is characterised as intangible creations that are associated with
human intellect. Some of the types of such property are patents, trade secrets, copyrights and
trademarks. Intellectual property rights are some of key elements that are needed by all

organisations in order to attain competitive advantages at marketplace. Such rights provides
assistance to managers for marketing, raising financial resources and developing products. The
managers of Essence Drinks carefully understands all such rights and follows them
appropriately. The key intellectual property tools followed by Essence Drinks are the followings:
Trademarks: Such tool includes recognizable design, expression and sign that
distinguishes one product of any company with products of another traders. The marketers of
Essence Drinks have formulated distinct logo and packaging of Kiwi Fruit Drink as well as
protects their identity by getting registered as well as assigning trademarks of their product
packaging and marketing.
Patents: These are the the authorities or licences that confers rights of owners for
particular product for some particular time period. Such tool exclude others traders from
producing, marketing, selling and importing such products. The owners of Essence Drinks have
taken patent right for Kiwi Fruit drink from government so that they can enjoy the monopoly to
produce and sell such energy fruit drink (Springer and et. al., 2018).
Copyrights: It is an exclusive as well as assignable legal right that is delivered to
originator to produce original products. Essence Drink management has taken copyright for their
innovative product which prevents other traders to use such product for sale purpose.
The role played by branding in protecting innovations are as follows:
 To increase value of business.
 Differentiating products of Essence Drinks from competitors.
Some of the limitations of intellectual property tools in context to international aspects
are that they requires huge resources to get patents as well as copyrights, allows usage of such
rights for limited time period and takes time to get such property.

REFERENCES
Books and Journals:
Collyer, F., 2017. The corporatisation and commercialisation of CAM. In Mainstreaming
complementary and alternative medicine (pp. 81-100). Routledge.
Pellikka, J. T. and Malinen, P., 2014. Business models in the commercialization processes of
innovation among small high-technology firms. International Journal of Innovation and
Technology Management. 11(02). p.1450007.
Menter, M., 2016. Principal investigators and the commercialization of knowledge. In University
evolution, entrepreneurial activity and regional competitiveness (pp. 193-203).
Springer and et. al., 2018. Effective Carrier‐Concentration Tuning of SnO2 Quantum Dot
Electron‐Selective Layers for High‐Performance Planar Perovskite Solar Cells.
Advanced Materials. 30(14). p.1706023.