Innovation and Commercialisation: Tefal's Linen Care Innovation

This report examines innovation and commercialisation strategies, focusing on Tefal's plan to introduce an antibacterial sanitiser in their steam irons. It details the importance of the commercial funnel, outlining the awareness, interest, decision, and action stages in the context of Tefal's new product development process. The report also presents a business plan for this innovation, covering objectives, solutions, service innovation, research, funding sources (bank loans and venture capital), and benefits related to enhanced safety and hygiene. Furthermore, it highlights the significance of intellectual property, recommending that Tefal use patents to protect their innovative idea. The analysis concludes that innovation is crucial for creating new ideas and maintaining a competitive edge, while intellectual property rights ensure the protection of these innovations. Desklib provides access to similar assignments and study tools for students.

Innovation and
Commercialisation

Table of content
INTRODUCTION...............................................................................................................................3
MAIN BODY.......................................................................................................................................3
Importance of commercial funnel and application in new product development process..................3
Business plan for innovation..............................................................................................................5
CONCLUSION....................................................................................................................................6
REFERENCES....................................................................................................................................6

INTRODUCTION
Innovation is mainly and important procedure which helps out in creating a unique
techniques and features in order to uncover and transform new activities and business in a
proper and effective manner (Sixsmith and et. al., 2021). The organisation chosen in this
report is Tefal, which is a well-known consumer products industry which deals with all the
French Cookware, linen care, homecare and small appliances. The company is planning to
bring an innovation in their linen care products by launching the anti-bacterial sanitisers in
the steam iron so as to prevent any of the bacteria’s and infect ends in the clothes. This report
will provide the new product development process with the business plan along with the tools
in the intellectual property and also the importance of commercial panel and its application.
MAIN BODY
Importance of commercial funnel and application in new product development process
The commercial final mainly provides a customer Journey in order to purchase any
product or any kind of services from company the four important steps as in context to Tefal
new innovation of antibacterial disinfectant steam iron are as follows:
 Awareness: this provides the details and awareness related to the service in the
product. Tefal will make awareness in the people by different advertisement in social
media, newspapers and mouth publicity (James, 2021)
 Interest: This is considered to be the interest of the people after evaluating the
product. Tefal can make innovation which will gain the interest of the customers by
their new offering in Services.
 Decision: this involves all the deeper information regarding the pricing options and
the packaging. Tefal can give all the details and can make the innovation to be known
to all through websites, calls, exciting offers so that people will be able to know about
the product in detail.
 Action: It provides the steps regarding to the purchasing of the customers and their
actions to buy it or not. Tefal can provide different exciting offers so that customer
will be attracted towards purchasing.
New product development

This involves new offering in the market through eight stages from the initial stage of
the idea to the end of introduction of that product in market as in context to Tefal it is
being mentioned there under:
 Idea generation: this involves all the internal and external sources through which
different ideas can be conceptualised. Tefal can take innovative ideas from
employees.
 Idea screening: it provides selection of one of the ideas from all the pool of ideas
which will match the requirements in the market. Tefal can take any of the best
idea through good potentials and feasibility.
 Concept definition: it provides the specification, technical feasibility, product
design, market potential and many more. Table in order to develop new products
can apply attractive ideas to fulfil the demand in market.
 Market strategy development: It is mainly the testing of the design regarding to
the strategies which are been made to introduce the product. The full can use the
search strategies for promoting the offering by focusing on the target market,
budget and long-term profit (Lin, Xiao, and Wang, 2021).
 Business analysis: It provides profit, reviewing of sales, cost reductions through
which all the new factors will satisfy the customers.
 Product development: this is the physical version which is being given to the
offering. Tefal in this stage will produce the physical version and the actual
product and will work on its pre-release.
 Test marketing: through this introduction regarding the product is being made
with less quantities in order to save all the high expenses. Tefal can also test their
product with the help of consumers in order to know the pros and cons.
 Product launch: this is mainly the launching of the product in the market with
high profit and enhanced sales.
Other than this the company can use a stage Gate model as this applies to be the
technique through which a new product can be develops maximum values as it helps
organisation to improve and enhance their ability to innovate a product and ideas and to
apply it in a practical application. The full can by managing and identifying the market
and also by conceptualising their new innovative product and build a proper roadmap
through which they can launch the product by taking the collective feedback from all the

people regarding the new innovation of steam iron so as to manage the core part and give
it for a maximum utility.
Business plan for innovation
Innovation helps to manage the competitive advantages and also to surpass the
competitors from the present business and its working. Tefal by launching the new
antibacterial disinfectant steam iron can make the additional protection to all the
consumers through their safety concerns. The business case for this innovation is as
follows:
Summary: Tefal is a well-known French company which deals with all the home
care, cookware appliances is there is being seen the reduction in the sales the
organisation planned to bring an innovation so as to attract the customers.
Objectives
 To enhance the sale of the company.
 To provide the safety and anti-bacterial range of steam iron is for the people.
Solution: For gaining this objective the company can plan to launch the disinfectant
anti-bacterial steam iron which will have the sanitising effect on the clothes so that it
can protect the health and the clothes of the people as it with the race of the pandemic
it is important for everyone to be away from all these kinds of bacteria’s Innovation in
service: Innovation here will be all the sanitisers which will be applied and the
disinfectants which will be used in these teams so as to remove all kind of bacteria
from the clothes (Cheah, and Yuen-Ping, 2021).
Research: The company can manage the research through all the internal sources and
also from external areas so as to gather deeper knowledge about the ways in which the
new product can be launched in order to serve the demand and values.
Funding: Shuffle can either take the bank loan or also through the venture capital so
as to create their innovative ideas into reality.
Benefits: As nowadays there has been seen the major effect of COVID-19 pandemic
so people are trying to manage a proper sanitised lifestyle and this will also attract the
customers as they will be able to sanitise their clothes through all such disinfectants.
Sources of funds

 Bank loans: This is the safer and secured form to gain the finance as the
company can take loan and also can pay it in a monthly instalment.
 Venture capital: It helps out to provide finance facility for the long-term
potential growth and also can be obtained from bank, well of investors and
other different financial institutions(Wang, Phillips, and Yang, 2021).
 The intellectual property is an important intangible right which provides help
for creating and inventing new innovation by the individuals to be protected.
As in context to Tefal in order to retain, develop and protect their innovative
idea they can use patent as it will help the inventor to legitimate their ideas for
approximately 20 years and also protect their invention from being used by
any of the company.
CONCLUSION
From this above report it is summarise that innovation helps out to bring new ideas
and creations which are not being existed in past. Tefals can introduce disinfectant
antibacterial steam iron so as to protect and maintain hygiene of the people. Further it is also
analyse that intellectual property provide protection to all such an innovation and Tefal can
use patent in order to protect their idea.
REFERENCES
Cheah, S.L.Y. and Yuen-Ping, H.O., 2021. Commercialization performance of outbound
open innovation projects in public research organizations: The roles of innovation
potential and organizational capabilities. Industrial Marketing Management, 94,
pp.229-241.
James, B.L., 2021. Incubation to commercialization: an investigation into the optimal service
needs of nascent entrepreneurs within the Integrated Business Incubation System
(IBIS) programme (Doctoral dissertation, Edinburgh Napier University).
Lin, S., Xiao, L. and Wang, X., 2021. Does air pollution hinder technological innovation in
China? A perspective of innovation value chain. Journal of Cleaner
Production, 278, p.123326.
Wang, Y.C., Phillips, F. and Yang, C., 2021. Bridging innovation and commercialization to
create value: An open innovation study. Journal of Business Research, 123, pp.255-
266.
Sixsmith and et. al., 2021. Thinking Innovatively About Innovation Research. In Knowledge,
Innovation, and Impact (pp. 9-16). Springer, Cham.