Commercial Innovation: A Presentation on New Product Development

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Page 1
Commercial Innovation

Page 2
Table of Content
Particulars Slide No.
Introduction 3
Importance of the commercial funnel 4
New product Development processing 5
Innovative Business Case 6
Different tools used to protect knowledge and intellectual property 7
Evaluation of tools 8
How challenges to innovation can be overcome 10
Conclusion 11
References 12

Page 3
Introduction
The presentation provides an overview
about the commercial funnel, the stages
included in the processing of new product
development, description of innovation
case. The presentation also includes the
different tools used for protecting
intellectual property and the ways of
overcomi8ng the innovation challenges.

Page 4
Importance of the
commercial funnel
• Commercial funnel is important
for analyzing the long-term
success of a new innovative
product.
• Provides market information

Page 5
New product Development
Processing
The five stages of new product
development are:
• Idea generation
• Screening
• Concept development
• Product development
• Commercialization

Page 6
Innovative Business Case
The business case for Tesco is
investing in a new market to
improve its market share. The
business case involves the
following steps:
• Identification of effective market:
• Source to generate funds:
• Overall Effectiveness:

Page 7
Different tools used to
protect knowledge and
intellectual property
• No use of Patents
• Separating teams
• Non-disclosure agreements

Page 8
Evaluation of tools
No use of Patents: If Tesco gets
patent for its products then, it is
required to disclose all the
necessary information regarding
the intellectual property which
creates problem for the company
itself.

Page 9
CONTINUED…
Separating teams: The whole production
process is required to be divided into three to
four stages and different human resources are
to be assigned for carrying out each stage.
This will be helpful in keeping the intellectual
property safe.
Non-disclosure agreements: The organization
is required to bind the employees for not
disclosing the information related to
intellectual property.

Page 10
How challenges to
innovation can be
overcome
• Market testing
• Understanding customer
needs

Page 11
Conclusion
It can be concluded that
commercial funnel is a tool of
identifying the effectiveness of
innovative ideas. There is a
complete procedure which needs
to be followed for the processing
of new product development.

Page 12
References
• Zahra, S.A., Kaul, A. and Bolívar-Ramos, M.T. (2018) Why
corporate science commercialization fails: Integrating diverse
perspectives, Academy of Management Perspectives, 32(1),
pp.156-176.
• Chen, Y. and Vanhaverbeke, W. (2019) Concept and connotation
of open innovation, The Routledge Companion to Innovation
Management.
• Skowronski, K. and Benton Jr, W.C. (2018) The influence of
intellectual property rights on poaching in manufacturing
outsourcing, Production and Operations Management, 27(3),
pp.531-552.
• Chirico, F., Criaco, G., Baù, M., Naldi, L., Gomez-Mejia, L.R. and
Kotlar, J. (2018) To patent or not to patent: That is the question.
Intellectual property protection in family firms, Entrepreneurship
Theory and Practice, pp.1042258718806251.