Innovation and Commercialisation: Trunki Business Case Analysis Report

This report analyzes Trunki's innovation and commercialization strategies, focusing on the differences between invention and innovation, various types of innovation, and the process of commercialization. It examines Trunki's business case, including the introduction of a GPS system in their ride-on suitcases, and explores the 4Ps of marketing (Product, Price, Promotion, Place) in this context. The report discusses the innovation funnel, frugal innovation, and the commercial funnel to assess Trunki's approach to product development and market penetration. It also covers the importance of vision, leadership, and organizational culture in fostering innovation. Furthermore, it provides a breakdown of the costs involved, and explores the legal aspects of protecting intellectual property through patents, trademarks, and copyrights. The report concludes with a summary of the key findings and their implications for Trunki's future business endeavors.

Innovation and
Commercialisation

INTRODUCTION
Innovation can be defined as implementation of new ideas to meet the desired goal.
Innovation is the application through which companies can convert a new idea into positive
result or make changes in product or it can be make improvements in that particular product
which creates value for that product and customers will attract towards the product and they will
ready to pay the amount for that innovative product. Invention means developing product by
using new ideas or the product which is going to be made for the first time. Things that are
created or made are called inventions. Invention is using of technology and through that
technology solve the particular problems. The technical feature is that it will give solution to the
problems which are coming at the time of making a new product.
MAIN BODY
P1
Innovation and invention sounds similar but there is lots of difference between them.
Innovation
Innovation is something that to make changes in product or it can be make improvements
in that particular product which creates value for that product and customers will attract towards
the product and they will ready to pay the amount for that innovative product. In organization
innovation results will comes in front when any kid of idea is being implemented to get desired
results of satisfying consumers (Adelowo, Akinwale and Olaopa., 2017).
Invention
Invention means creation of completely new or different product that is never sell in
market before. Things that are created or made are called inventions. Invention is using of
technology and through that technology solve the particular problems. The technical feature is
that it will give solution to the problems which are coming at the time of making a new product.
It is also known as technical teaching. The invention can be a process or it can be a product.
Invention is a process with whole engineering and product development process. Some of the
inventions can be patented.
Invention innovation
It is the development of an
idea for a process
Innovation refers to
implementation of idea and

product for the first time. It is
use for make improvements.
It is a formation of a new
product.
It is adding values in the exited
product or something which is
already existing.
It is working in theory and it s
an original idea.
Practically implementing the
fresh ideas
Scientific skills are required It is a set of technical,
marketing and strategic
capabilities.
When new idea comes into the
mind of scientist.
When there is a need of
improvement in the existing
product.
It is the process or product. This is a combination of
different products
Importance of innovation and invemtion in the organisation.
Innovation is an essential in the place of work because it provides edge to the company in
penetrating markets quickly and it gives a better connection to gain development in the markets.,
which helps in results to bigger opportunities and especially in that countries who are rich.
Innovation allows company to stay genuine in the competitive market. It is a continuous
improvement and it will reinforced brand of our organization. The best thing about that it will
respond to the trends and competitions.
Invention is also important for the organisation because company cant survive with the old
products they have to invent or bring something new for the customers. With the invention of
new products everyone wants to try that and if it will achieve success than it is beneficial for the
company. Invention expands the boundaries of knowledge of human being its experience and
capability.
P2
VISION

Vision is something which is dream by business. It plays significant role in business unit..
If the company is having a clear vision that is the process by which they can achieve their targets
and goals for the company then they can defiantly achieve success in future. If the vision is clear
and the innovation will automagically come. The employees can give their own ideas and points
so that many changes can be made in process of achieving the goals. These changes will leads to
the innovations and commercialization in the organization. Vision is all about how we see an our
goals and what new ideas we can apply so that our vision becomes more clear in the eyes of
employees. technologies uses make it more simpler and understandable for the employees and
customers. The vision always terminates and directs the invention and innovation process.
LEADERSHIP
Leadership can be defined as leading capability of higher authorities to make people
positive towards the brand. There are different kinds of leadership methods which can be used in
the organization. These methods includes autocratic, democratic, participative and laissez – fare.
Organizational leaders should be. A good leader will always think for the companies benefits
rather than his/her own profit.
CULTURE
Organizational culture can be described as believes of company to run the opeation.
Cultures may varies according to ethics, values and religions of different countries. The culture
of each and every country is very much different from each other. Culture motivates workers and
help in managing the work in effective manner.
P3
It is a combination of aspects that will controlled by the company to make their customers
to purchase their products. It is a set of actions which helps in promoting their brand.
Trunki is bringing new improvement in its bags which is GPS system and it will be helpful to the
parents because it will show the exact location of the bags carried by the children.
4P's on new innovation.
Product- Trunki is making changes in its ride on kits suitcase and they are going to bring GPS
system in it which is helpful for the children. This suitcase always attract children and it is a

good thing for the company. This new innovations can change the mentality of parents and they
will buy it(Amponsah and Adams., 2017).
Price- The price of the bags after the new innovation will be affordable to the customers. There is
no huge different after improvement and price can be reasonable for bags. There is no change in
size just adding a system of GPS that's why there is no huge price difference so parents can buy
it for their children easily.
Promotion- Trunki will use the best way to promote this new innovative bag through setting
stores near playgrounds, schools etc. it will attract kids and they will buy these bags definitely.
We have to use online marketing for promoting our product through social media, advertisement,
hoardings outside the playgrounds and schools. It will promote our product in effective way.
Place- Trunki have to focused on place and how they will going to distribute the bags. They have
to setup their stores at a relevant place like in the middle of the market where they got attraction
towards their store. They have to look for their distribution channel that how they will make
available their product through whole city or across the world.
Innovation funnel
It is a process of management of innovation funnel, it is a famous approach for innovation and
also used by so many companies for creating an innovative and realistic plan(Dezi, Santoro and
Zhao., 2018).
Trunki can use innovative funnel for implementing their ideas and takes advantages of it through
this tool. Through innovation funnel tool there are some points which help to meet the needs in
the market.
Strategic thinking- plan for the vision and mission of the Trunki and evaluate its management,
market and products. For example look at the competitors of the Trunki in saturated markets as a
threats and bring a new idea and implement according to it.
Concept- concept which is provided by the Trunki is that attaching a GPS system in the bags
and the process they have to use is critical and the main focus is on decision making that lead to
the adoption of new innovation(Chun, Chung and Bang., 2015).
Develop- development or improving in the product is a new thing for the Trunki and by
developing for example by giving this new innovation they are developing their product and
implementing the plan for their product.

Qualify- By testing the product and check for the problems in the product and after clear
everything proceed to the qualify process.
Launch- After done with the all test Trunki have to finally launch its product.
Life cycle- Trunki have to made good quality products and always use good material for
manufacturing the product it will affect on its life cycle.
P4
It can be described as process which ensure minimizing cost of operation and rasing
quality. Developing countries is also using frugal innovation for globalization and rising
incomes. It will lead innovations to produce faster, cheaper and better.
Development of frugal innovations
In simple words frugal innovations can be created by using the above process like sharing
economies, maker movement, open innovation and inclusive business. To really want to take the
benefits from frugal innovation we need some development which is:
Use good quality of solutions which are operable and affordable(Dincer, 2017).
Thinking of designs at high level.
Thinking regarding system should be done at macro level.
Trying new ways for designing of product and development.
Grab modern technologies for delivering low cost solution.
To make solutions use innovative models of business to access them.
Example of frugal innovation.
Trunki don't have to spend huge money on its product. New innovation in the bag and the
production cost will be low by purchasing good raw material and of low cost. The new ride bag
of Trunki is good in quality and also providing technology with the bag which is GPS system
and no more huge price difference in this new innovation is the great way to understand this type
of frugal innovation (Gross and et.al., 2018).
P5
The commercial funnel is the application which shows the purchase behavior of consumers
towards particular product. Steps of commercial funnel which are awareness, consideration,
opinion, preference and purchase. Its importance in Trunki is that so that products value can be
raised and firm can meet need of expectation and can raise profit (Do and et.al 2018).

P6 Innovation business case
Use of social sites would be beneficial in promoting products of Trunki. The customer will
more happy when they can get their product while sitting at home. The best tool for promotion of
new product is advertisement. Through advertisements so many customers get attracted towards
our product.
Types of expenses cost
Manufacturing $400
Raw material $350
Labor expense $450
Management expense $250
Marketing expenses $130
Total $1580
P7
Patent- at the time of new invention, patent is the right of the inventor. For 20 years after
filling the application date, the patent inventions are useful. In any other country where the
security is sought, patents are regional and meaning and they must apply for protection of
patent.
Trademark- A design, sign or a expression which identifies product or services of a
particular source is known as trademark. Trunki needs to achieve captions for their trademark,
taglines and name of business.
Copyright- It is the tool which is used to protect confidential detail of firm such as ideas or
process. If any third person use such data then owner has right claim against that wrong person.
There is required to manage confidential details so that no complication take place. Firm has
to ensure following legal guidelines so that problems do not take place in business unit.
CONCLUSION
Study can be summarized as innovation is the different ways to get success in the market
through bringing new ideas to our products.

The present report is based on business activities of Trunki which is UK based company who
sells the ride bags for kids.
However, report has covered the activities as the new innovation in the existing product which
helps to gain access in the market. Their is a difference that why innovation is different from
invention and after all this there is a swot analysis which shows the strength and weakness of the
Trunki. Trunki have to adopt some more new innovative ideas like innovation of frugal and
funnel process. After that it describes that how with the help of new innovation they are
promoting their product in the market.

REFERENCES
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Amponsah, C.T. and Adams, S., 2017. Open Innovation: Systematisation Of Knowledge
Exploration And Exploitation For Commercialisation. International Journal of Innovation
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Chun, D., Chung, Y. and Bang, S., 2015. Impact of firm size and industry type on R&D
efficiency throughout innovation and commercialisation stages: evidence from Korean
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Dezi, L., Santoro, G., Monge, F. and Zhao, Y., 2018. Assessing the impact and antecedents of
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Dincer, I., 2017. Importance of research, innovation and commercialisation for technological
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