U8 Report: Essence Drink, Commercial Funnel, and IP Strategies

This report examines the business case for Essence Drink, focusing on the application of a commercial funnel to enhance sales and market penetration. It details the five stages of the commercial funnel: awareness, opinion, consideration, preference, and purchase. The report also highlights the importance of intellectual property protection, particularly through patents and trademarks, to safeguard the brand name, designs, and inventions from competitors. It evaluates the use of trademarks for protecting intellectual property and discusses the nature of innovation and its challenges for Essence Drink. The study concludes by emphasizing the role of frugal innovation and the use of a trademark tool for protecting the intellectual property of Essence Drinks. Desklib offers this document along with numerous other solved assignments and resources to aid students in their studies.

U8 PART A AND PART B
Essence Drink

TABLE OF CONTENTS
• Introduction
• Main body
process of commercial funnel
Tool of intellectual property
evaluation of tools
• Conclusion
• References

INTRODUCTION
• the study will discuss on the business case so the firm can introduce its product in the market as
well as contribute in increasing the sales.
• Lastly, the report will throw light on the intellectual property that firm can use to protect the
product.

Explaining the process of commercial funnel and New Product Development
• Commercial funnel helps the organization in identifying the
process of customer purchasing goods and services.
• Moreover, the another name of this method is sales funnel as it helps
the organization in increasing the sales.
• There are five step that need to be followed by the firm such as
awareness, opinion, consideration, preference and purchase.

Presenting the business case
• A business case is a written document that consist of the reasons for beginning a project.
• Moreover, it will include the organization structure of the company, risk associated with the
plan as well as cost required in order to complete the project.
• However, Essence company can make use of this case to promote their Mix fruit lassie in the
market of UK.

Describing the tool that organization can
use in order to protect intellectual property
• The intellectual property is consist of intangible human property
that are needed to be protected by the law and order.
• So that monopoly of the company is presented in the market.
• There are various type that can be used by Essence is present in
details below:
• Patent: This tool is used by the firm in order to safeguard the brand
name, designs and invention of the company form the competitors

Presenting evidence based evaluation of
tools
• The Essence company can make use of Trade
mark tool in order to protect the intellectual
property.
• Trade Mark: This tool helps the organization in
protecting the brand name in the competitive
market.

Critically evaluate the nature of innovation
• Innovation plays important role in the growth and success of the firm in the competitive
market.
• Moreover, Essence drink has to face some internal challenges that effect the progress of
innovation.

CONCLUSION
• Study has analysed the importance of frugal and innovation funnel in the organization.
• Lastly, it has thrown light on the trademark tool that will protect the intellectual property
of Essence Drinks.

REFERENCES
• Books and journals
Aristodemou, L. and Tietze, F., 2018. The state-of-the-art on Intellectual Property Analytics (IPA): A
literature review on artificial intelligence, machine learning and deep learning methods for analysing
intellectual property (IP) data. World Patent Information. 55. pp.37-51.