INNOVATION AND COMMERCIALISATION: A Case Study on Essence Drinks, UK

This report focuses on Essence Drinks, a small-scale consumer drink company, and its innovation and commercialization strategies. It explores the importance of innovation, organizational vision, leadership, and culture. The report analyzes the 4Ps of innovation, frugal innovation, and the commercial funnel. A business innovation case study of Essence Drinks, which is launching a new mango lassi in the UK market, is presented, along with the discussion of different tools utilized by the business, including intellectual property. The report concludes that small businesses can achieve success by efficiently using resources and promoting innovation through new processes and commercialization.