Report on Samsung's Innovation and Commercialization Strategies

This report examines Samsung's innovation and commercialization strategies, outlining the process from idea generation to commercialization. It covers new product development stages, including idea screening, concept development, marketing strategy, business analysis, product development, test marketing, and commercialization. The report also explores the importance of innovation, presents a business case for Samsung's funding needs, including bank loans, issuing shares, and asset sales, and discusses how funding supports product development, marketing, and technological advancements. The conclusion emphasizes the importance of innovation and effective marketing for successful product launches. The report includes references to relevant academic sources.

Innovation And
Commercialisation

Table of Content
 Introduction
 New Product Development (NPD) processing
 Innovation Business Case
 Reason why Samsung need to access funding
 Conclusion
 References

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 Idea generation: In this particular stage it is
the responsibility of the manager of
Samsung that they must come up with new
product or even process.
 Idea Screening: The ideas and plans which
has been developed should be screened so
that its pros and cons could be found.

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 Concept development and testing: The design of new products or processes will be
designed and tested throughout this step.
 Marketing strategy development: After product development, Samsung mangers will
create business strategies through the adoption of a marketing mix.

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 Business analysis: Testing will be carried out at this level to test the capability of new
product or system.
 Products Development: At such a point, all R&D operations must take into account
by actual process of product development.

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 Test marketing: Promotional at this point should seek to gain full promotional experience with
new goods that include advertising,, packaging, delivery, and many more.
 Commercialization: It is a phase in which the director of Samsung must determine to choose
whether or not release the service by evaluating its usefulness.
 .

Critically evaluate the nature of innovation
Innovation is of the most important aspect for any of the organisation as it help
to attract new customers towards the company through which goals can be
accomplished easily. Innovation is one of the complex process which creates
multiple issues because new methods of working is never an easy task, even
there might be communication gap among the employees.

Innovation Business Case
 Bank loan: This is one of a corporation's primary source to generate cash.
 Issues of shares: As per this business, preference shares and equity in the stock market will be
issued to public.
 Sales of Assets : Under this source of funding, Samsung can sell its current assets and fixed assets
to produce capital whereby it could manufacture sterilizers.

Reason why Samsung need to access
funding
 Product Development: A respective business can manage finance for new product
development i.e. Sterilizer that is the bottle washer for the infant
 Marketing of products: While collecting or receiving sufficient funding, Samsung can also
support its new I.e., items.
 Adopting innovation: While receiving sufficient or reasonable funds, Samsung will be able to
conduct proper research that will support them in implementing technology and improvement
during product development.

Conclusion
 Through carrying out an evaluation of the above-mentioned issue, it can be decided or
summarized that in terms of developing new products, it is important to implement
innovation and advertising for each business and then market it effectively so that
consumers are drawn to it.

References
 Xiao, X., Li, Y. and Liu, Z., 2016. Graphene commercialization. Nature materials. 15(7).
p.697.
 Weng, B. and et.al., 2018. Barium Bismuth Niobate Double Perovskite/Tungsten Oxide
Nanosheet Photoanode for High‐Performance Photoelectrochemical Water Splitting. Advanced
Energy Materials. 8(10). p.1701655.

Thank You