This report delves into the realm of innovation and commercialization, using Sainsbury's as a case study. It begins by outlining the company's challenges stemming from a lack of innovative services, which led to decreased customer interest and reduced market share. The report explores various methods Sainsbury's could employ to gather data and generate ideas, including employee interaction, expert consultation, and brainstorming. It then explains the commercial funnel, detailing the stages of awareness, discovery, and purchase. The report discusses critical aspects like matching resources, funding alternatives, key risks, and value measurement. Furthermore, it examines the new product development process, from idea generation and evaluation to concept development, strategy analysis, and test marketing. The report also highlights tools like patents, copyrights, and trademarks used by organizations to develop knowledge, and evaluates their effectiveness. The conclusion emphasizes the importance of introducing innovative products to gain market share. The report includes references to relevant research and online resources.
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