Delamere Dairy: Commercial Funnel, Innovation, and IPR Protection

This report discusses the importance of innovation and commercial funnels in business development, focusing on risk assessment, frugal innovation, and intellectual property rights. It uses Delamere Dairy as an example, analyzing how the company can use commercial funnels to attract and retain customers, assess risks, and implement frugal innovation to optimize business processes. The report also covers techniques for testing new drink effectiveness, resources like angel investors, and tools to protect intellectual property, such as patents. It concludes that frugal innovation is vital for business growth and that patents provide effective protection for intellectual property rights, referencing several academic sources to support its analysis. Desklib provides this document as part of its collection of student-contributed assignments.

Innovation

Table of content:
• Introduction
• Importance of using commercial/ innovation funnel
• Assessment of risk
• Value analysis of frugal innovation
• Techniques for testing the effectiveness of new drink
• Resources required
• Tool to protect intellectual property right
• Conclusion

Introduction
Innovation is mainly associated with using
new technologies and creative way of
thinking to add value and new features to a
pre-existing idea or product to make
substantial change in a product or services
with the aim of improving its efficiency

Importance of using commercial/ innovation
funnel
Use of commercial funnel is made by organisation like Delamere Dairy to have better
marketing and focus on converting prospects into target market to develop a high interest
in customers to warrant them into sales funnel segment. The importance of commercial
funnel for Delamere Dairy comprises of fact that it supports attracting customers and
converting them loyal consumer through effective marketing and advertising and also
ensure quality services to keep its customers happy and inspires referrals.

Assessment of risk
The key risk and threat which are tend to be faced
by the Delamere Dairy comprises of the higher
level of competition in current market that is
leading reduction in its productivity level.
Further, lack of sufficient finds has been also
faced by the Delamere Dairy.

Value analysis of frugal innovation
Growth of company- the making use of the frugal innovation tend to
comprises and includes of having higher optimisation in business
process along with control on wastage of resources thus it supports
creation of product and services at lower cost.

Techniques for testing the effectiveness of
new drink
To maintain the check and have regular testing of the effectives of the new drink
of Delamere Dairy proper control on the process of innovation has been made.
Further, the Use of Key performance indicator is made by Delamere Dairy to
keep a check and testing of the efficiency of new drink through continuously
monitoring the performance of employees along with comparing the budget and
actual sales level to ensure the achievement of objectives on time.

Resources required
Angel investors- These are high net-worth investor those
who offer financial assistance for entrepreneurs and small
start-ups. In terms with advantages angel investors is helpful
for organisation in terms of no repayment or interest along
with leading expert advice. Further, the major disadvantage
of angel investors is less transparency and control.

Tools to protect intellectual property rights
Patent- patent provide a property right on a new invention or innovation
allowing patent holder to exclude other from making, selling and using its
invention. Thus, patent right provide a simple way to have a legal right and
protection on new invention of Delamere Dairy.

Conclusion
On the basis of current presentation, a conclusion can be made that frugal
innovation is vital and effective for a firm as it supports value to customer
and higher growth level. Further, it has been summaries that bank loan
provides easy way of funding. Beside this, it has been also concluded that
patent supports effective protection on intellectual property rights on new
innovative product.

References
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Journal of Continuing Education in Nursing, 52(5).
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Lessons from 12 past transitions. Energy Policy, 152, p.112155.
• Metrick, A. and Yasuda, A., 2021. Venture capital and the finance of innovation. John Wiley &
Sons.
• Mariani, M.M. and Nambisan, S., 2021. Innovation analytics and digital innovation
experimentation: the rise of research-driven online review platforms. Technological Forecasting
and Social Change, 172, p.121009.
• Lodra, I.N., 2021. Discourse Analysis of Intellectual Property Rights (IPR) as a Global Culture for
Indonesian Artist Especially in Bali. LINGUISTICA ANTVERPIENSIA, pp.1104-1113.