Report: Innovation and Commercialization Analysis for Healthy Juice

This report analyzes the importance of innovation and commercialization for a business, using Healthy Juice as a case study. It begins by defining innovation and comparing it to invention, highlighting its significance for organizational success. The report then explores how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. It delves into the 4Ps of innovation, utilizing the innovation funnel, and examines the development and application of frugal innovation. The analysis further covers the commercialization funnel, new product development, and building an innovation business case, including funding strategies. The report also touches upon tools for customer rights protection and concludes with key findings and recommendations. The report provides a comprehensive understanding of innovation's role in business growth and sustainability, offering practical insights for companies like Healthy Juice facing market challenges.

Innovation and
Commercialization

Table of Contents
INTRODUCTION...........................................................................................................................2
INTRODUCTION...........................................................................................................................5
TASK 1 ...........................................................................................................................................5
P1. Innovation and determine its significance to organization in comparison with invention5
P2 Explain how organisational vision, leadership, culture and teamwork can shape innovation
and commercialisation............................................................................................................7
TASK 2............................................................................................................................................9
P3 4P's of innovation and its use for innovation funnel'........................................................9
P4 Development of frugal innovation and its usage ............................................................10
TASK 3..........................................................................................................................................11
P5 Importance of commercial funnel and application of new product development...........11
P6 Build an innovation business case for an organisation, including ways to access funding 12
TASK 4..........................................................................................................................................13
P7 Tools for developing and protecting rights of customers ...............................................13
CONCLUSION .............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Innovation is a multi-faceted process starts with conceiving an unique idea, nurturing it
into a concept and then applying it for creating a new product, technique, process or service that
add ons to its value and helps in its commercializing in the market and to earn higher profits.
For a firm it is of critical importance to keep on innovating new products and services so that it
can remaining figurehead and can gain advantage over its rivals in this dynamic business
environment (Archibugi, 2017). The project is based on Healthy juice established by Mr. Daniel
Green. Company has achieved large success in UK market with its one drink -milkshakes.
However in its third year company is facing decline in its sales. The report thus evaluate
importance for innovation for a firm and how it integrates with leadership and culture of a firm.
It will also discuss 4P's of innovation and various approaches that could be adopted by Healthy
Juice top process innovative ideas.
TASK 1
P1. Innovation and determine its significance to organization in comparison with invention
Innovation forms a key factor for in success of both established and new start ups as it
proves to be asset to gain an advantage by offering something more distinctive and better for
consumers as well as for environment and society. Innovation represents a new concept, method,
technology or method having distinctive features and some value addition that induces consumer
for promptly into availing that specific offering . It can been seen as new way of doing things or
to introduce modification in business model to absorb and implement changes for making
existing goods and services into something better and more advanced. Invention on other hand
could be explained as process of designing and developing a unique idea that has never been
introduced before through study and experimentation (Difference Between Invention and
Innovation,2016).
With the emergence of a number of competitive forces in business environment Healthy
Juice has launched a new range of its sugar free fruit juices of all flavors. This is considered as a
big innovative move by the company which is to expected to assist company to enhance its sales
volumes. Thus innovation is significant for company as:

 Innovation provides Healthy Juice to come up with new products that enables company
to meet frequently changing preferences i.e. need for a healthy sugar free drinks for
health conscious people.
 Innovation helps firm to differentiate its new juice range from the other products that are
been provided by its market rivals. For instance, by improving sugar content of its juices
Healthy Juice has improved its products features and characteristics that is to be key
factor in gaining edge over its competitors (Balsmeier, Fleming and Manso, 2017).
 Innovation is also to assist firm in creating its brand image. It is because in today's; time
where in people have become quiet health conscious and thus expects products to be
more natural, organic and healthy. In this aspect new range of sugar free juices by
Healthy Juice will provide its customers the best and most healthy option that will
directly establish firm as a healthy drink brand. This ultimately will enhance firms market
position and its profits.
Difference between innovation and invention is mentioned below:-
Innovation Invention
 Innovation is associated with creative
ideas that are nurtured into profitable
offerings . It involves making
modifications in existing product,
services or method to intensify its
functionality thereby making it
competitive.
 Innovation leads to adding value to
for commercial success of a particular
product, process or service.
 Invention implies creating or
discovering something new or distinctive
i.e. product, service, technology etc. that
has never been introduced or utilized
before.
 Invention is introducing an entire new
exclusive product, service , method etc.
that meets up consumers demands and
needs.

P2 Explain how organisational vision, leadership, culture and teamwork can shape innovation
and commercialisation.
It is evident that firms who remain proactive in launching latest and most innovative
products according to prevailing market trends becomes the market leaders. A firm is considers
as figurehead which posses ability to evaluate opportunities of market at right time and track
down or analyse it various sources that can direct for nurturing new ideas into distinctive goods.
In case of a firm it is employee that acts a main source for generate new thinking and innovation.
To trigger its workforce to share their suggestions, views and thoughts a firm's vision, mission
culture and leadership firms important factors that helps in sculpturing innovation and its
commercialization (Bhagavatula, Mudambi and Murmann, 2017). Commercialization is defined
as the process through which a firm offers its products or services for sale in global market.
 Vision: It is statement that defines a company's probable future picture which a firm
intended to achieve. It includes its long term and short term objectives that serves as
guidelines to attain its vision. Healthy Juice works with vision to provide quality and
innovation in every product which they offer to its customers. For Healthy Juice its vision
acts a key motivator for its leaders and employees to meet up the challenges of dynamic
business environment. By inducing its workforce to continuously work towards its vision,
to gain customer satisfaction and large market share by continuously evolving new
products and launching them in potential target markets. Thus, it assist company to
diversify its business boundaries and introduce and commercialize its innovative
products by identifying its target audience.
 Leadership : It is an ability of a leader to influence its team members to pit their efforts
in one direction to achieve certain pre set objectives. In Healthy Juice leadership plays
major role in innovation of new products. It is because the leaders of firm by applying
participative leadership involves its employees in decision making process and
encourages then to share their new thoughts, opinions or suggestion with management
This benefits company to have pool of innovative and creative ideas out of which most
feasible ones could be chosen. After facing sudden downfall in its third year, company

has conducted meeting comprising leaders and mangers to analyse and find out firm's
probable new market, target audience and changes in existing products.
 Culture: Culture plays an important role behind innovation as it involves values, beliefs
and norm that are been followed by a firm. Healthy Juice follows a work culture where
employees are given immense opportunity to complete their assigned task by applying
their creativity and to adopt best practices as per their knowledge to give maximum
outputs. This helps firm to shape their innovation by adopting flexible and participative
work culture (Bogers and et. al., 2017).
 Teamwork: Healthy Juice has a proficient team which is evident from firms imme4nse
growth and success within two years of commencement. Hence,a proficient team having
mutual coordination, cooperation and respect for each other serves as a base for
innovation and its commercialization. It is because people working together gives
plethora of creative ideas fro management also they appreciate each others efforts making
it easy for management to conduct its innovation process successfully bearing maximum
returns.
TASK 2
P3 4P's of innovation and its use for innovation funnel'
The purpose behind innovation is to enhance a product or process that helps a firm to
cater requirements of its target audience in most economic way. It is deliberately implementing
information, imagination and initiatives for deriving greater and maximum values from
resources. Innovation type is a amalgamation of 4P's which are been analysed by Healthy Juice
to bring positive changes for adding value in its product, process and in its sales volume.
Mentioned below are the 4p's of innovation that are been examined by Healthy Juice while
launching its range of sugar free juices (Camagni, 2017). Product innovation: For maintaining and increasing firms market share and brand value
it is of high priority for Healthy Juice to introduce some innovation in its existing
product or to develop an entire new product by evaluating prevailing market trends.
Working over it firm by analysing demand and needs of health conscious people have
introduce a range of sugar free fruit juices in every flavour for consumers who are

looking for healthy drinks with no sugar content. This is expected to enable firm to
regain its brand value that has been suffering decline in sales. Process Innovation: Another factor that helps business to gain edge over contenders is
its process by which company delivers its products to its final customers. Healthy Juice
can introduce innovation in its process by opening its outlets in other potential markets
and emerging economies like Asia. Paradigm innovation: It included bringing modification in the manner in which
something is been done by a company. It involves adding new features in present goods
or services. Healthy Juice found that milkshakes in various different flavours could be
USP to enhance its sales however with change in customers needs and preferences in its
third year company encounters decline in its sales volume. Thus to cater requirements of
its customers and to regain it lost market share has introduced a range of sugar free fruit
juices that proves to be most appropriate product for health conscious people (De
Marchi, Di Maria and Gereffi, 2017). Position innovation: Healthy Juice analysed that their product position get declines in
market due to shift of customers and preferences. For this, by conducting market
research company evaluated the prevailing trend towards choosing healthy way of life
by people. Thus, company emphasize on re position of perception towards its existing
product i.e. to promote it as a healthy option for customers who does not requires sugar
content in their food.
Innovation Funnel
Innovation funnel refers to process where in an idea is evaluated for maximizing chances
of success of a particular product. In its initial stage, the ideas that are generated through various
sources are refined on basis of their feasibility analysis. This helps firm evaluate market
opportunities and then nurturing them into new concepts and then implementing them by
naming use of latest tools and techniques (Foss and Saebi, 2017). Healthy Juice by realizing the
need to adopt changes as the firm encountered sudden downfall in its sales within third year of
its commencement. Thus, firm in order to improve and maintain its growth and sustainability
requires to deeply evaluate all ideas generated by measuring them on their feasibility and
profitability and select best one in order to ass on certain features in its present product or to

launch a new product with some unique and distinctive idea. For instance Healthy Juice can
combine its sugar free juice ranges with vegetable salads.
P4 Development of frugal innovation and its usage
Frugal innovation or frugal engineering is the technique used by firms to reduce
complexity of its process, cost of product and any unwanted method or material that are likeable
to impact durability of product. In context of Healthy Juice, company have to develop its frugal
innovation under which they have to offer their products by putting demands of health conscious
people at upfront (.Huang and et. al., 2017). Also, firm is required to focus on quality and price
of its products. Mentioned below are the steps that could be taken by Healthy Juice to increase
effectiveness of its product as :
 Firm will be capable of introducing innovative product i.e. a range of sugar free fruit
juices of every flavour
 They can launch this innovation targeting health conscious people, diabetic patients and
other people who do not ant sugar content in their food.
Generally this development is adopted when business is encountering issue in it sales volumes.
Frugal engineering assist a business by introducing new innovative product i.e. sugar free fruit
juices to cater needs of potential health conscious people . Another innovation that could be
adopted by firm to enhance its market share is to promote its products in different potential
markets like in Asia, China that are emerging economies having potential target market.
TASK 3
P5 Importance of commercial funnel and application of new product development
Commercial funnel is defined as the process of purchasing products which helps in deciding
overall price is applied in gaining positive outcome from business operations (Johansson, 2017).
Thus, it makes business to focus on quality aspects of its products enabling firm to capture vast
market share. Healthy Juice by applying this technology in its operations to enhance its sales
volume in different potential market. Mentioned below are the steps that are taken in this
process: '
 It helps in improving quality of new innovative products \

 Another important aspect of commercial funnel is that it helps in maximizing profit
margin by introducing its new product in new segment.
 Provide Healthy Juice with opportunity to launch its products in new market i.e.
emerging economies like Asia and China (Johnson, Simmons and Sullivan, 2017).
Hence, company can adopt NDP stages properly for an innovative idea into new market :
 Generation of idea: It is essential for Healthy Juice to analysis requirement of its target
market and then develop a new idea keeping in mind their needs and aspirations.
 Screening of ideas: This involves getting analysis of resources that are essential for
business to perform its operations. In case of Healthy Juice, company analyse all
resources probable deviations properly. For Healthy Juice before introducing new
product it is essential to analyse it various resources comprising human, financial and raw
materials that are requisite to launch a new product.
 Testing of ideas: In order to ascertain success of its new product company before
launching its product at full fledged rate can introduce as a sample in its business market.
Healthy Juice to analyse probable future demand of its new range of sugar free juice can
introduce it in smaller market section to ascertain response of its consumers.
 Business analytical: It is to determine the probable outcome that is obtained from
testifying the concept. Healthy Juice is required to measure the positive or negative
response of the selected target audience before moving further with the execution of the
product development (Knippels and Van Dam, 2017).
 Commercialization: This phase relates to effectively promoting of the product. It is
because a customer will buy a product only when they are sure about its utility in
satisfying their needs. Thus , Healthy Juice make use of various promotional tools like
online promotions, TV commercials, radio and magazine ads etc. that assist firm in
determining facts that induces its sales volumes in different market.
 Launching : This is the final step in launching a new product in potential target market.
Healthy Juice in this phase full fledged introduces its new product in its business market
P6 Build an innovation business case for an organisation, including ways to access funding
Business case is a accumulation of information that is followed to evaluate some factors
that come out in processing a innovative product and further supports in giving accurate
guidance that assist in determination and conversion of issue. Business case give an

appropriative approach that support in giving a better solution for correction of difficulty. Some
important components that Healthy Juice. Is applying in business case are determined as below.
Creation of ideas – For development of ideas that must evaluate the environment or
atmospheres where they are running and supply of goods in business region (Kogan and et. al.,
2017.). For accurate evaluation of market an organisation can follow PESTLE as well as SWOT
analyse that will support organisation to better evaluation of various factors that are required in
business structure
 Screening of ideas – While developing ideas business entity must also keep certain
alternative business plans of one ideas that fails to bring income from concern market.
 Funding – For execution of plans and rule of business activities and functions of
company that should calculate budget needed to implement that plan. Their are some
region from where the business entity can create funding from Friends, sponsors,
stakeholders, stick market, banks etc.
 Development, Testing and simulating ideas – Before execution of plan in their
organisation, it is important for enterprise to know to analysis efficiency of their goods in
market. Healthy Juice Regularly test their package and modify them as per the to want of
their customers.
 Evaluation of product as well as its resonance with business activity or functions-
After the goods is transferred in market it is essential for organisation to control all
activity and execution of their goods in market to maximise it potential in order to do
their business activities for longer duration as well as maximise their compass to much
geographical market (Longo and et. al., 2017).
 Development- Marketing and selling are only one goods that should not be only mark of
business organisation but analysed of this they can design to maximise productivity and
performance by manufacturing much variety of goods. In actual business activities
Healthy Juice is giving software about to network way. They can maximise their base to
create innovative software and tools in Architecture, ARM and CAD design in order to
maximise their scope among maximum number of customers in business.
 Commercialisation – It is a identified activity for management, selling and process of
goods to increase profitability from business marketplace so that they can create
maximum profit from different activities of business. Healthy Juice can create marketing

as well as promotional activities in order to advertise their product and services in various
corporate marketplace to maximise their productivity
 Launching – It is a identify as a last phase for developing of goods in marketplace. The
enterprise must insure accurate time period to inform their goods in marketplace so that
they can be to gain their belief and trade name image in business concern environment.
TASK 4
P7 Tools for developing and protecting rights of customers
Healthy Juice takes several measures for protecting its innovative ideas so that it cannot
be steal or used by its business rivals for their own benefits. These intellectual property rights
helps firm to reduce the risk of duplication of its innovations and to secure its inventions
(Lundkvist and Gustavsson, 2017). Also it provides Healthy Juice with the right to file a legal
case against any party who tries to use its copyright and trademark. Mentioned below are certain
legal measures that helps organization to protect its innovation, creative ideas and other
confidential information :
 Copyright: It can be described as collection of legal rights that are used to protect and
secure work of authors creators, architects that could be both tangible and intangible in
nature. It can lasts for 70 years or even for lifetime. Health Juice products are drinkable
hence they do not require to take copyright on its products.
 Trademark: Healthy Juice posses right to get trademark right on manufacturing of its
products which make it forbidden for nay other firm, individual or group to make a
similar product. In case of breach of this right company is eligible to file a suit against the
defaulter.
CONCLUSION
From the report undertaken concludes that innovation forms an integral part in the
success of a firm. Also commercial funnel and frugal innovation are important techniques that
helps firms to maintain its market position and to introduce its new product. 4P's of innovation
provides platform to firm like Healthy Juice to reposition its new product in the market.

Moreover firm secure and protect its invention and innovation thorough intellectual property
rights.