Innovation and Commercialization: A Case Study of Samsung

This presentation examines the concepts of innovation and commercialization, focusing on the case of Samsung. It begins by defining innovation as improvements to existing products and the introduction of new products, and commercialization as the formal licensing of a product. The presentation explores the importance of the commercial funnel and the new product development process, outlining stages from idea generation to market launch. It discusses marketing opportunities, industry overview, and competition, emphasizing the role of financial projections and funding for market research and product development. The presentation also explores the tools Samsung uses to protect its intellectual property rights, including patents, trademarks, and copyrights, and concludes by summarizing the importance of commercialization for business growth and development.

Innovation and
commercialization

Table of content
 Introduction
 Importance of commercial funnel
 Access of funding
 Tools used by organization for the intellectual property rights.

INTRODUCTION
Innovation refers to make improvement in the existing products, procedures, strategies and
techniques that can help to maximize the profit of the organization. This also means to
bring some innovative products in the market which are not being provided by the other
company. Commercialization means to formal licensing of the product. This presentation
examine the importance of the commercial funnel and funding used by the organisation.
Further, it has analysed the tools used for protecting the intellectual property rights.

P5 The importance of commercial funnel & the application of
new product development processing for the innovation
New product development is the process that will help the Samsung company to set out the stages to produce its
innovative product in the market. This begin with the generation of the new idea and end with product
introduction in the market.

Summary of marketing opportunity of innovative drinks
Marketing opportunities is a commercial accepted lead which has qualified for being the needs of the products &
services. The main opportunity of marketing is to attract customers, introducing the invention, selling
products in market and achieving growth for the Samsung. There are so many marketing opportunity while
brings the innovation ofnew electronic product in the market such as customers like it or not, market
segmentation, targets, sales, resources, cost etc. understanding the risk factor that occurs any of time, fulfil
the demand of the customers time to time.

These stages are:
1. In the first stage, Samsung company will come up with the new ideas like new models, features, high camera pixel, etc. in order to make improvement
in their product range.
2. In second stage, all the ideas will be filtered in order to select the best idea that can give strength to the company to increase its sales.
3. In next stage, concept is being defined as according to the feasibility, market potential and product design (Laitinen, 2019).
4. In this stage concept is being analyzed in order to align with the business strategies of the Samsung company.
5. In this stage new idea is being tested by creating the prototype weather this innovative idea will work or not to gain the market again.
6. In the sixth stage the new idea is being launch in the market, and feedback is being taken.
7. In this sage price of the new model is being determined in order to set the business plan of the Samsung.
8. At the end new model is being launched in the market with detailed information like its ingredients and its benefits for health etc.
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Overview of industry and Competition
Samsung company is considered to be one of the most innovating and inspiring company which in
turnfocuses on creating future through development of innovative technology. It mainly deals in
smartphones, T.V, wearable devices, digital appliances, memory, network systems, etc.

Financial projection
Funding for market research:- the owners of the Samsung acquires so many informations through the research of
marketing which helps in defining identifying the opportunities of marketing and difficulties as well.
Desk based research:- the another name of the desk based research is secondary research where it is not about
gathering data and information instead of the researcher carrying out the desk research for reviewing the
previous findings of research that gain better and broad understanding of inventing the new electronic device.

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Product development:- Creation of the various electronic range of products with different
and new characteristics and features which generally offers additional and new benefits to
the consumers.

P6 To build the business innovation case that involve the ways of
access the funding.
The Samsung offers a portfolio of various electronic range of products for running the in
dependently and business effectively. In this company renowned the Samsung for its
innovation. According to the analysis and research it has identified that bringing the
innovation is generally regular practice of working which has potential of giving growth
and development to the business in the terms of financial profits.
Techniques for testing the effectiveness of new drinks produce
The testing techniques & the iteration of the routes that goes into the market due to much
importance given to the process that leads to the successful launch in the market.

P7 Different tools used by Samsung drinks for protecting the
intellectual property rights
Samsung can protect knowledge and develop the intellectual property rights by using the
fundamentals tools & techniques which are as follows;
 Patent
 Patent is generally a property rights of the inventors. It is long-lasting for 20 years after
filling the dates with applications.
 Trademark
 This term generally define as sign, design and expressing for identifying the products &
services of specific sources which is generally known as the trademark.

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Copyright
When inventing and creating some unique product at that time copyrights helps in protecting
the product that granted to the Samsung for reproducing the new innovative technology.
From all the above discussion, the whole marked tool is beneficial for the Samsung because
this company is known for making innovation in drinks and it also helps the company for
staying protected from their unique and innovative services. The management of the
Samsung is expected for designing the products and make advanced technology through
the legal patents.