Innovation and Commercialisation Report: Strategies for Retail Success
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This report examines innovation and commercialization strategies within the retail sector, focusing on the case of Cash and Carry. It begins by defining innovation, comparing it to invention, and highlighting its significance for organizations. The report then explores how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. It delves into the 4Ps of innovation (product, position, process, and paradigm) and the use of an innovation funnel. The report further examines frugal innovation, its principles, and application. It also covers the importance of a commercial funnel and the application of New Product Development (NPD) processing for commercialization. Additionally, the report builds an innovation business case for Cash and Carry, including accessing funding. Finally, it discusses tools for developing, retaining, and protecting knowledge and intellectual property. The report provides a comprehensive overview of strategies for innovation and commercialization in the retail context.

Innovation And
Commercialisation
Commercialisation
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Table of Contents
INTRODUCTION..........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Innovation and its Importance to Organisations in Comparison with Invention..................1
P2 organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation.......................................................................................................................3
TASK 2............................................................................................................................................4
P3. Explanation the 4Ps of Innovation and use of Innovation Funnel to examine and shape
innovative ideas...........................................................................................................................4
P4. Development in frugal innovation and its use:.....................................................................5
TASK 3............................................................................................................................................7
P5. Importance of Commercial Funnel and Application of New Product Development (NPD)
Processing for Commercialisation of Innovation........................................................................7
P6. Build an Innovation Business Case for cash and carry, including ways to access funding.8
TASK 4............................................................................................................................................9
P7. Different tools that organisations can use to develop, retain and protect knowledge and
intellectual property....................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION..........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Innovation and its Importance to Organisations in Comparison with Invention..................1
P2 organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation.......................................................................................................................3
TASK 2............................................................................................................................................4
P3. Explanation the 4Ps of Innovation and use of Innovation Funnel to examine and shape
innovative ideas...........................................................................................................................4
P4. Development in frugal innovation and its use:.....................................................................5
TASK 3............................................................................................................................................7
P5. Importance of Commercial Funnel and Application of New Product Development (NPD)
Processing for Commercialisation of Innovation........................................................................7
P6. Build an Innovation Business Case for cash and carry, including ways to access funding.8
TASK 4............................................................................................................................................9
P7. Different tools that organisations can use to develop, retain and protect knowledge and
intellectual property....................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

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INTRODUCTION
Innovation is a process of generating new ideas, creativity, thoughts and attributes in an
organisation. Innovation and commercialisation is a concept of innovation in which use of liner
process, from research to improvement to product in the marketplace (Bradley, Hayter, and Link
2013.) . This types of innovation takes place from the provisions of more effective processes,
technologies, products, business model and services. In this report chosen organisation is cash
and carry. This company deals in retail sector with discount supermarket chain and provide
different products and services i.e. food and beverages, household goods, sanitary articles etc.
This report covers the innovation and its importance and how vision, culture and teamwork
affect the innovation (Huang and et. al., 2013). In this also include 4P's of innovation and frugal
innovation, its principles and importance of commercial funnel and application of new product
development. In this company wants to launch their new mobile application for customers use
and include innovation business case and different tools of the intellectual property.
TASK 1
P1. Innovation and its Importance to Organisations in Comparison with Invention
Cash and carry is a private retail company located in UK. Company deals in Food,
beverage, household goods etc. are the products of cash and carry. It provide household goods at
low prices and it is a top competitor in global retail food industry.
Innovation
Innovation is a process of creating and applying ideas into a product and generate value
for which consumers will pay. It involves intentional information, initiation and imagination to
derive values from various resources (Kim and Eds., 2014). cash and carry use this technique for
improvement in existing products and services and make it more valuable. Innovative ideas
should be beneficial for company which reduce cost and satisfy need of customers.
Significance of Innovation
Innovation is a creativity that provide thoughts for improvement in quality of overall
organisation or a particular product. It is important of every organisation to sustain long run in
market and increase profitability. Importance of innovation in cash and carry are as follows:-
Stand Out from Competitors- Innovation is important for cash and carry to stand out
their competitors and beat competition (Kuratko and Hoskinson, 2016). When an organisation
1
Innovation is a process of generating new ideas, creativity, thoughts and attributes in an
organisation. Innovation and commercialisation is a concept of innovation in which use of liner
process, from research to improvement to product in the marketplace (Bradley, Hayter, and Link
2013.) . This types of innovation takes place from the provisions of more effective processes,
technologies, products, business model and services. In this report chosen organisation is cash
and carry. This company deals in retail sector with discount supermarket chain and provide
different products and services i.e. food and beverages, household goods, sanitary articles etc.
This report covers the innovation and its importance and how vision, culture and teamwork
affect the innovation (Huang and et. al., 2013). In this also include 4P's of innovation and frugal
innovation, its principles and importance of commercial funnel and application of new product
development. In this company wants to launch their new mobile application for customers use
and include innovation business case and different tools of the intellectual property.
TASK 1
P1. Innovation and its Importance to Organisations in Comparison with Invention
Cash and carry is a private retail company located in UK. Company deals in Food,
beverage, household goods etc. are the products of cash and carry. It provide household goods at
low prices and it is a top competitor in global retail food industry.
Innovation
Innovation is a process of creating and applying ideas into a product and generate value
for which consumers will pay. It involves intentional information, initiation and imagination to
derive values from various resources (Kim and Eds., 2014). cash and carry use this technique for
improvement in existing products and services and make it more valuable. Innovative ideas
should be beneficial for company which reduce cost and satisfy need of customers.
Significance of Innovation
Innovation is a creativity that provide thoughts for improvement in quality of overall
organisation or a particular product. It is important of every organisation to sustain long run in
market and increase profitability. Importance of innovation in cash and carry are as follows:-
Stand Out from Competitors- Innovation is important for cash and carry to stand out
their competitors and beat competition (Kuratko and Hoskinson, 2016). When an organisation
1
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create new ideas and make their product more innovative and attractive then it allows to offer
something unique to their customers. It helps to build brand image and beat competitors strategy.
Meet Customer Needs- When an organisation innovate their product time to time then it
helps to meet customers needs because consumers needs are constantly changing. Innovation is
important for cash and carry to meet taste and preference of consumers.
Attract the Best Talent- Innovation is all about creativity and talent of generating and
implementing new ideas to make quality product which helps to attract more customers.
Innovation is an attraction of new talent. In context of cash and carry, there are some employees
who have more talent and they use it into make innovative products. It create more value which
ultimately tends to achieve more profit and success.
Increase in profit margin- If an organisation innovate their products and services which
satisfy customers' needs then it is beneficial for cash and carry to increase its profit margin.
Difference between Innovation and Invention
Basis Innovation Invention
Meaning Innovation refers to the
generating and implementing
new ideas for improve quality
of existing product or
service(Liu and Liang, 2013)
Invention can be defined as the
introduction of new product or
service for the first time.
Skills It required marketing and
strategic skills to identify
customers needs and innovate
their products to meet them.
It required scientific skills for
launching a new product which
enhance the brand image of
cash and carry.
Process It is a combination of different
process like imagining,
generating and implementing a
new idea.
It is concerned with single
process or product and
introduce a single product at a
time.
P2 organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation.
Leadership and innovation:
2
something unique to their customers. It helps to build brand image and beat competitors strategy.
Meet Customer Needs- When an organisation innovate their product time to time then it
helps to meet customers needs because consumers needs are constantly changing. Innovation is
important for cash and carry to meet taste and preference of consumers.
Attract the Best Talent- Innovation is all about creativity and talent of generating and
implementing new ideas to make quality product which helps to attract more customers.
Innovation is an attraction of new talent. In context of cash and carry, there are some employees
who have more talent and they use it into make innovative products. It create more value which
ultimately tends to achieve more profit and success.
Increase in profit margin- If an organisation innovate their products and services which
satisfy customers' needs then it is beneficial for cash and carry to increase its profit margin.
Difference between Innovation and Invention
Basis Innovation Invention
Meaning Innovation refers to the
generating and implementing
new ideas for improve quality
of existing product or
service(Liu and Liang, 2013)
Invention can be defined as the
introduction of new product or
service for the first time.
Skills It required marketing and
strategic skills to identify
customers needs and innovate
their products to meet them.
It required scientific skills for
launching a new product which
enhance the brand image of
cash and carry.
Process It is a combination of different
process like imagining,
generating and implementing a
new idea.
It is concerned with single
process or product and
introduce a single product at a
time.
P2 organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation.
Leadership and innovation:
2

leadership is a technique in which a leader choose different leadership behaviour or style
to influence the workers of the company for producing creative products, ideas and services.
Leader of cash and carry company helps to achieving vision or mission of the organisation with
new innovative processes and technologies (Aarikka-Stenroos, Sandberg, and Lehtimäki, 2014).
It is necessary for a leader to think creatively and innovatively for stay competitive and
continued success. In this, leader need to influence their employees for creating new ideas so,
that leader can use this ideas in launch new product at market place.
Organisational culture and innovation:
Culture, behaviour, characteristics and values of an organisation affect the innovation
process of the business. In this, cash and carry company implement the new organisational
techniques in the workplace organisation, undertaking business practices and external relations.
Culture of organisation offers a useful model for the process of foster innovation (Qian and
Haynes, 2014). Organisational culture is like a social control system in which include specific
types of behaviours i.e. willingness to experiment, fast decision making, risk taking, innovation,
quality to spot unique opportunities etc. history of product, new technology, types of employees,
market strategy, management behaviour is very important factor for the innovation of any
product.
Vision and innovation:
Mission or vision is a starting and main point for metrics, strategic plan and objectives.
Effort for the vision will always affect change. There is a risk in creating innovation but this is
necessary for attracting consumers towards new innovative product (Chesbrough, Vanhaverbeke
and West eds., 2014). Innovative vision is important for better business practices, effective
solutions of products, problems and services. Innovation objectives become reality when leaders
of the company develop a clear and effective vision and strategy.
Team work and innovation:
If team work is effective then innovation can easily take place in an organisation. If
team qualities are maintained like communication, balance of members, Mutual support,
contribution, efforts, coordination etc. then cash and carry company easily create innovation in
effective manner. For innovation, set up separate groups for advanced concepts, current product
maintenance and new product development. Innovation and team work required special skills
and knowledge for producing the best results and outcomes (Davila, Epstein, and Shelton, 2012).
3
to influence the workers of the company for producing creative products, ideas and services.
Leader of cash and carry company helps to achieving vision or mission of the organisation with
new innovative processes and technologies (Aarikka-Stenroos, Sandberg, and Lehtimäki, 2014).
It is necessary for a leader to think creatively and innovatively for stay competitive and
continued success. In this, leader need to influence their employees for creating new ideas so,
that leader can use this ideas in launch new product at market place.
Organisational culture and innovation:
Culture, behaviour, characteristics and values of an organisation affect the innovation
process of the business. In this, cash and carry company implement the new organisational
techniques in the workplace organisation, undertaking business practices and external relations.
Culture of organisation offers a useful model for the process of foster innovation (Qian and
Haynes, 2014). Organisational culture is like a social control system in which include specific
types of behaviours i.e. willingness to experiment, fast decision making, risk taking, innovation,
quality to spot unique opportunities etc. history of product, new technology, types of employees,
market strategy, management behaviour is very important factor for the innovation of any
product.
Vision and innovation:
Mission or vision is a starting and main point for metrics, strategic plan and objectives.
Effort for the vision will always affect change. There is a risk in creating innovation but this is
necessary for attracting consumers towards new innovative product (Chesbrough, Vanhaverbeke
and West eds., 2014). Innovative vision is important for better business practices, effective
solutions of products, problems and services. Innovation objectives become reality when leaders
of the company develop a clear and effective vision and strategy.
Team work and innovation:
If team work is effective then innovation can easily take place in an organisation. If
team qualities are maintained like communication, balance of members, Mutual support,
contribution, efforts, coordination etc. then cash and carry company easily create innovation in
effective manner. For innovation, set up separate groups for advanced concepts, current product
maintenance and new product development. Innovation and team work required special skills
and knowledge for producing the best results and outcomes (Davila, Epstein, and Shelton, 2012).
3
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If team work and their mutual understanding is good then they can easily create ideas for
innovation of existing product. This concept is given new ideas from outside the box and
explore potentially of team.
Cash and carry company should encourage their employees for new innovation and build
their abilities to think new ideas. If employees are not give their best then proper guidance
should be provided them by the company.
TASK 2
P3. Explanation the 4Ps of Innovation and use of Innovation Funnel to examine and shape
innovative ideas
Innovation refers to modification of an idea into actuality which added value in existing
products and services. It is a concept of practical execution of new opinion and it required
technical as well as marketing skills (Paradkar Knight and Hansen, 2015). It is a combination of
various processes such as idea generation, implementation etc. Innovation technique is based on
4Ps, that are: Product, position, process and paradigm. Explanation of these are as follows:-
Product- Product refers to the units of goods that is made through a production process
like raw material, work in progress and finished goods. Product is made after analysing the
demand of customers and to satisfy their needs. cash and carry innovate their strategy and
launch a application software. It make their product more innovative because when customer use
that application then they can order food online and get delivery at home.
Position- Position innovation is focuses to frame and transmit with the products and
services. It is based on techniques that are used to innovate a product and apply that techniques
that make better image of cash and carry in front of consumers (Marion and Friar, 2012). They
used print media technique to launch their application online.
Process- Process innovation refers to ways through which products and services are
innovated or developed. It is an essential part of every organisation structure to launch
innovative product. cash and carry launch mobile application which is go through a process of
identifying, generating, and implementing ideas to innovate a new software.
Paradigm- It simply means to improve the way of business by changing their strategy.
cash and carry change their strategy and launch their own mobile application to increase sales
and feel their customers more comfort.
4
innovation of existing product. This concept is given new ideas from outside the box and
explore potentially of team.
Cash and carry company should encourage their employees for new innovation and build
their abilities to think new ideas. If employees are not give their best then proper guidance
should be provided them by the company.
TASK 2
P3. Explanation the 4Ps of Innovation and use of Innovation Funnel to examine and shape
innovative ideas
Innovation refers to modification of an idea into actuality which added value in existing
products and services. It is a concept of practical execution of new opinion and it required
technical as well as marketing skills (Paradkar Knight and Hansen, 2015). It is a combination of
various processes such as idea generation, implementation etc. Innovation technique is based on
4Ps, that are: Product, position, process and paradigm. Explanation of these are as follows:-
Product- Product refers to the units of goods that is made through a production process
like raw material, work in progress and finished goods. Product is made after analysing the
demand of customers and to satisfy their needs. cash and carry innovate their strategy and
launch a application software. It make their product more innovative because when customer use
that application then they can order food online and get delivery at home.
Position- Position innovation is focuses to frame and transmit with the products and
services. It is based on techniques that are used to innovate a product and apply that techniques
that make better image of cash and carry in front of consumers (Marion and Friar, 2012). They
used print media technique to launch their application online.
Process- Process innovation refers to ways through which products and services are
innovated or developed. It is an essential part of every organisation structure to launch
innovative product. cash and carry launch mobile application which is go through a process of
identifying, generating, and implementing ideas to innovate a new software.
Paradigm- It simply means to improve the way of business by changing their strategy.
cash and carry change their strategy and launch their own mobile application to increase sales
and feel their customers more comfort.
4
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Innovation Funnel
Innovation funnel is helps in describing the process that is used to developing a product
and activity. Main objective of innovation is to transformation of products that meet customers
needs in a systematic form. (Mollick and Robb, 2016). In first stage of development, ideas are
generated or gathered and they go through a refinery system which is known as innovation
funnel.
Use of Innovation Funnel to examine and shape innovative ideas
Strategic Thinking- Strategic thinking gives innovative ideas which ultimately helps to
achieve strategic objectives. It helps to generate ideas and make firm more productive. It is
useful to examine and shape innovate ideas to the employees of cash and carry.
Opportunity assessment- In this factor company examine through industry information,
customer experience and other sources and find out that what are the opportunities available for a
new product and service.
Conceptualization- According to this factor, actual concepts are designed by the
employees of cash and carry with helps of best ideas that generated from strategic thinking. It
may include advertising, online selling etc. it helps to examine and shape innovative ideas to
employees of cash and carry.
P4. Development in frugal innovation and its use:
Frugal innovation is the process of decreasing the cost of goods and complexity in its
production. Generally this is removing non-essential attributes from a durable goods. Frugal
innovation run the business with transformation. This innovation is more than a strategy and it
see resources restraint not as liability but as an chances (Mueller Rosenbusch and Bausch, 2013).
cash and carry company can use this innovation for making best quality solutions that provides
the greatest value to the consumers at the lowest price.
Principle of frugal innovation:
Find opportunity in adversity: In this principle, reframe the difficulties and problems and
do something effective in which threats are turn into an opportunity. Company should be
analysis the external environment in regarding launching the new product. Identify the demands
and needs of customers and create that type of features in their new product which is want by
consumers. Company should also find the threats for the product like competitors products and
then they can turn threats and problems into opportunity or advantages.
5
Innovation funnel is helps in describing the process that is used to developing a product
and activity. Main objective of innovation is to transformation of products that meet customers
needs in a systematic form. (Mollick and Robb, 2016). In first stage of development, ideas are
generated or gathered and they go through a refinery system which is known as innovation
funnel.
Use of Innovation Funnel to examine and shape innovative ideas
Strategic Thinking- Strategic thinking gives innovative ideas which ultimately helps to
achieve strategic objectives. It helps to generate ideas and make firm more productive. It is
useful to examine and shape innovate ideas to the employees of cash and carry.
Opportunity assessment- In this factor company examine through industry information,
customer experience and other sources and find out that what are the opportunities available for a
new product and service.
Conceptualization- According to this factor, actual concepts are designed by the
employees of cash and carry with helps of best ideas that generated from strategic thinking. It
may include advertising, online selling etc. it helps to examine and shape innovative ideas to
employees of cash and carry.
P4. Development in frugal innovation and its use:
Frugal innovation is the process of decreasing the cost of goods and complexity in its
production. Generally this is removing non-essential attributes from a durable goods. Frugal
innovation run the business with transformation. This innovation is more than a strategy and it
see resources restraint not as liability but as an chances (Mueller Rosenbusch and Bausch, 2013).
cash and carry company can use this innovation for making best quality solutions that provides
the greatest value to the consumers at the lowest price.
Principle of frugal innovation:
Find opportunity in adversity: In this principle, reframe the difficulties and problems and
do something effective in which threats are turn into an opportunity. Company should be
analysis the external environment in regarding launching the new product. Identify the demands
and needs of customers and create that type of features in their new product which is want by
consumers. Company should also find the threats for the product like competitors products and
then they can turn threats and problems into opportunity or advantages.
5

Do more with less: This principle about maximum utilisation in minimum resources.
cash and carry company should optimizing the maximum utilisation in available resources for
launching the new product and decreasing the launching cost of marketing (Engel, 2015). This
principle teach this company to optimize the use of scare natural and financial resources while
delivering advanced value.
Think and act flexible: Flexible model can adjust everywhere in the organisation.
Company should be improvisational and flexible rather than rigid for better performance of
work.
Keep it simple: This principle says that, model should be simple and easily
understandable by the employees. If it is not easy then employees can facing the problems in
regarding innovation. Complexity can causes problems. More choices then more confusion is
created. So, its better that fewer and effective choices are available for easily picking the perfect
solution. Product developers should be observe customer's naturals needs and then identify the
pain points and real challenges(Greco, Grim cash and carry and Cricelli, 2015) . Its refers that
don't make solution to impress consumers but create them easy to accessible and widely use.
Include the margin: This principle say that know the consumers properly and involve
them in company's problem solving activity. Company should identify properly the consumer's
mind, nature and their purchasing power and according to their desires product should be
developed.
Follow our heart: This principle is all about follow your heart. Means be passionate and
use this to move opinions forward. If the company really want to do something new and
innovative then it have to experiment and be passionate. Company should be know only their
products ultimately and their customers and then trust and follow their hearts only.
TASK 3
P5. Importance of Commercial Funnel and Application of New Product Development (NPD)
Processing for Commercialisation of Innovation
Commercial funnel is also known as sales funnel or revenue funnel. It can be defined as a
process of buying that organisation lead their customers when they buy products or services. It
depends on different models such as attract consumers by advertising of products, convert
6
cash and carry company should optimizing the maximum utilisation in available resources for
launching the new product and decreasing the launching cost of marketing (Engel, 2015). This
principle teach this company to optimize the use of scare natural and financial resources while
delivering advanced value.
Think and act flexible: Flexible model can adjust everywhere in the organisation.
Company should be improvisational and flexible rather than rigid for better performance of
work.
Keep it simple: This principle says that, model should be simple and easily
understandable by the employees. If it is not easy then employees can facing the problems in
regarding innovation. Complexity can causes problems. More choices then more confusion is
created. So, its better that fewer and effective choices are available for easily picking the perfect
solution. Product developers should be observe customer's naturals needs and then identify the
pain points and real challenges(Greco, Grim cash and carry and Cricelli, 2015) . Its refers that
don't make solution to impress consumers but create them easy to accessible and widely use.
Include the margin: This principle say that know the consumers properly and involve
them in company's problem solving activity. Company should identify properly the consumer's
mind, nature and their purchasing power and according to their desires product should be
developed.
Follow our heart: This principle is all about follow your heart. Means be passionate and
use this to move opinions forward. If the company really want to do something new and
innovative then it have to experiment and be passionate. Company should be know only their
products ultimately and their customers and then trust and follow their hearts only.
TASK 3
P5. Importance of Commercial Funnel and Application of New Product Development (NPD)
Processing for Commercialisation of Innovation
Commercial funnel is also known as sales funnel or revenue funnel. It can be defined as a
process of buying that organisation lead their customers when they buy products or services. It
depends on different models such as attract consumers by advertising of products, convert
6
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different offers by which customers share their information, encourage the customers to buy
products and provide them quality service by which by which customers become happy.
Importance of Commercial Funnel
Increase sales revenue- Commercial funnel is used to increase sale revenue by using
those techniques which attract customers and influenced them to buy products and services.
Predict sales volume- Quantity of sales is predicted with the help of commercial funnel
because the market condition and need of customers and use promotional techniques which helps
to analyse sales volume.
Application of NDP processing for commercialisation of innovation
There are following applications of new product development which are as follows:-
Idea Generation- It is the first step of new product development. In this application,
ideas are generated by analysing different factors of problems faced by an organisation. cash and
carry analyse form the current data that sales is reduces and then it find out causes of decreasing
sales. There may be different reasons like product quality, customer satisfaction, distance,
waiting for food etc. So, company generate different ideas to increase sales and profitability.
Idea Screening- In this process organisation select best ideas which are generated in
earlier process. After analysing position of sales and profit there are different ways to increase
sales and satisfy customers' needs such as improve quality, online selling, updating technology
etc. cash and carry screening the idea of online selling. For this, they launch mobile application
by using digital media.
Concept Development- In this application, a concept is developed to innovate a product.
It includes the ideas about environment and object by keeping in mind the need of customers.
When cash and carry develop a new product then concept development helps to identify that
how customers get their products or services.
Strategy Development- Strategy development is planning to executing ideas and running
a business. For develop a new product, cash and carry have to also development their strategy
regarding to products and services. It helps to get advantage of opportunities and reducing
barriers. It make work in more effective and efficient manner.
Product Development- Product development is a series of formulation, design and
development of goods and services. Main objective of product development is to maintain
market shares by fulfil consumers needs.
7
products and provide them quality service by which by which customers become happy.
Importance of Commercial Funnel
Increase sales revenue- Commercial funnel is used to increase sale revenue by using
those techniques which attract customers and influenced them to buy products and services.
Predict sales volume- Quantity of sales is predicted with the help of commercial funnel
because the market condition and need of customers and use promotional techniques which helps
to analyse sales volume.
Application of NDP processing for commercialisation of innovation
There are following applications of new product development which are as follows:-
Idea Generation- It is the first step of new product development. In this application,
ideas are generated by analysing different factors of problems faced by an organisation. cash and
carry analyse form the current data that sales is reduces and then it find out causes of decreasing
sales. There may be different reasons like product quality, customer satisfaction, distance,
waiting for food etc. So, company generate different ideas to increase sales and profitability.
Idea Screening- In this process organisation select best ideas which are generated in
earlier process. After analysing position of sales and profit there are different ways to increase
sales and satisfy customers' needs such as improve quality, online selling, updating technology
etc. cash and carry screening the idea of online selling. For this, they launch mobile application
by using digital media.
Concept Development- In this application, a concept is developed to innovate a product.
It includes the ideas about environment and object by keeping in mind the need of customers.
When cash and carry develop a new product then concept development helps to identify that
how customers get their products or services.
Strategy Development- Strategy development is planning to executing ideas and running
a business. For develop a new product, cash and carry have to also development their strategy
regarding to products and services. It helps to get advantage of opportunities and reducing
barriers. It make work in more effective and efficient manner.
Product Development- Product development is a series of formulation, design and
development of goods and services. Main objective of product development is to maintain
market shares by fulfil consumers needs.
7
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Testing- Testing is an activity to check new product and service and analyse that is it
fulfil the strategy which is made for developing a new product. In this technique, it is ensure that
actual outcomes are match with expected result. cash and carry should check their mobile
application that is it error free or not.
Commercialisation and Innovation- It is a final application of new product development.
In this process ideas are converted into actual product and launched with high quality and design.
Commercialisation is an essential step of product innovation. cash and carry commercialised
there application software and launched it for the use of customers.
P6. Build an Innovation Business Case for cash and carry, including ways to access funding
To build an innovation business case of cash and carry, there are various steps follows
including different source of funding. These re as follows:-
Executive Summary- cash and carry is a retail industry which deals in private sector. It
was established in 1946 and its headquarter is in Germany. It serves different products like food,
beverage, household goods and sanitary articles. It has a single formatting of strategy in UK and
Europe. It is focused on reducing cost and increase efficiency. cash and carry want to launch a
mobile application which is useful to increase sales and profit.
Target- For implementing an innovation strategy, main target of cash and carry is
household customers and women who need home products for daily use. By using this
application, customers can order any food and products by sitting at home. They don't need to
come at store or wasting their time.
Solution- Main feature of launching this innovation of mobile application is to increase
the number of customers and satisfy their need. It ultimately helps to gain profit and
sustainability of success. Sometimes, customers have no time to visit store of cash and carry and
they buy goods from their near store. cash and carry solve this problem of customers and launch
a mobile application.
Why product is innovative- Mobile application is an innovative technique for cash and
carry because it is an indicator of success for a company. It is a big opportunity for a firm
because there is no small retail industry launch their mobile application for their customers. But
cash and carry take an initiate or generate idea to start a mobile application. It attract more
customers that result to increase sale that's why this is innovative strategy.
8
fulfil the strategy which is made for developing a new product. In this technique, it is ensure that
actual outcomes are match with expected result. cash and carry should check their mobile
application that is it error free or not.
Commercialisation and Innovation- It is a final application of new product development.
In this process ideas are converted into actual product and launched with high quality and design.
Commercialisation is an essential step of product innovation. cash and carry commercialised
there application software and launched it for the use of customers.
P6. Build an Innovation Business Case for cash and carry, including ways to access funding
To build an innovation business case of cash and carry, there are various steps follows
including different source of funding. These re as follows:-
Executive Summary- cash and carry is a retail industry which deals in private sector. It
was established in 1946 and its headquarter is in Germany. It serves different products like food,
beverage, household goods and sanitary articles. It has a single formatting of strategy in UK and
Europe. It is focused on reducing cost and increase efficiency. cash and carry want to launch a
mobile application which is useful to increase sales and profit.
Target- For implementing an innovation strategy, main target of cash and carry is
household customers and women who need home products for daily use. By using this
application, customers can order any food and products by sitting at home. They don't need to
come at store or wasting their time.
Solution- Main feature of launching this innovation of mobile application is to increase
the number of customers and satisfy their need. It ultimately helps to gain profit and
sustainability of success. Sometimes, customers have no time to visit store of cash and carry and
they buy goods from their near store. cash and carry solve this problem of customers and launch
a mobile application.
Why product is innovative- Mobile application is an innovative technique for cash and
carry because it is an indicator of success for a company. It is a big opportunity for a firm
because there is no small retail industry launch their mobile application for their customers. But
cash and carry take an initiate or generate idea to start a mobile application. It attract more
customers that result to increase sale that's why this is innovative strategy.
8

Customer Research- cash and carry research on different types of customers in
surrounding areas and find out that in current trends, customer prefer online shopping due to less
time. So, after doing a proper research on customer’s company decided to launch their own
mobile application.
Funding- For innovation of product or launch a mobile application, cash and carry
needed more funds. There are different sources where company get funds such as bank loan,
venture capital, loan from financial institutions, trade credit etc. cash and carry get funds from
bank loan on a fix amount of interest and time. Company require funds to implement innovation,
it is very essential that innovation should be effective so company can generate large number of
profits and can achieve its set objective. Return on innovation investment is calculated by firm
by compare the revenues generated by new product or services with all development
expenditures generated in creating new products. Return on innovation investment is also known
as “R2I”. Mainly it is measure to examine the effectiveness of company’s investment in new
services and goods. For get maximum return on innovation investment, company require to
focus more on some specific areas and structured process for implement innovation.
Expected Benefits- An organisation innovate their products to get benefit which is in
monetary terms like increase profit as well as not monetary term like increase brand image and
satisfy need of customers. cash and carry expect that it will enhance its brand image, earn
maximum profit and retain long run in market.
TASK 4
P7. Different tools that organisations can use to develop, retain and protect knowledge and
intellectual property.
Intellectual property:
Intellectual property is a process in which mainly cover patents, trademarks, copyrights
and intangible creations of the human intelligence. This is a wide description of the set of
intangible owned and lawfully secure by a company from outside implementation or use without
permission. In this also involved other types of rights like publicity rights, trade secret, moral
rights etc. The main purpose of cash and carry company in regarding intellectual property is that
promote the creation of a large variety of intellectual commodities (Hossain and Kauranen,
2016). Here are some different kind of tools which are as under:
9
surrounding areas and find out that in current trends, customer prefer online shopping due to less
time. So, after doing a proper research on customer’s company decided to launch their own
mobile application.
Funding- For innovation of product or launch a mobile application, cash and carry
needed more funds. There are different sources where company get funds such as bank loan,
venture capital, loan from financial institutions, trade credit etc. cash and carry get funds from
bank loan on a fix amount of interest and time. Company require funds to implement innovation,
it is very essential that innovation should be effective so company can generate large number of
profits and can achieve its set objective. Return on innovation investment is calculated by firm
by compare the revenues generated by new product or services with all development
expenditures generated in creating new products. Return on innovation investment is also known
as “R2I”. Mainly it is measure to examine the effectiveness of company’s investment in new
services and goods. For get maximum return on innovation investment, company require to
focus more on some specific areas and structured process for implement innovation.
Expected Benefits- An organisation innovate their products to get benefit which is in
monetary terms like increase profit as well as not monetary term like increase brand image and
satisfy need of customers. cash and carry expect that it will enhance its brand image, earn
maximum profit and retain long run in market.
TASK 4
P7. Different tools that organisations can use to develop, retain and protect knowledge and
intellectual property.
Intellectual property:
Intellectual property is a process in which mainly cover patents, trademarks, copyrights
and intangible creations of the human intelligence. This is a wide description of the set of
intangible owned and lawfully secure by a company from outside implementation or use without
permission. In this also involved other types of rights like publicity rights, trade secret, moral
rights etc. The main purpose of cash and carry company in regarding intellectual property is that
promote the creation of a large variety of intellectual commodities (Hossain and Kauranen,
2016). Here are some different kind of tools which are as under:
9
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