This report delves into the crucial aspects of innovation and commercialization, emphasizing their significance in launching new products and achieving business growth. It examines the concept of the commercial funnel, illustrating its importance in attracting and converting customers, using Samsung Electronics as a case study. The report details the new product development process, outlining stages from idea generation to commercialization, and highlights the application of SWOT analysis. Furthermore, it presents an innovative business case, including an executive summary, vision statement, objectives, situation analysis (SWOT), and financial projections for a new product, the Samsung Smart Lamp. The report also covers funding sources, such as financial institutions and family, and concludes by summarizing the key takeaways regarding innovation and commercialization's role in the market.
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