Samsung's Innovation and Commercialisation: A Business Case Report

This report delves into Samsung's innovation and commercialization strategies, focusing on new product development, business case analysis, and funding mechanisms. It begins by outlining the core components of the innovation process, including idea generation, screening, and concept development, and the importance of marketing strategy. The report then examines the business case for innovation, including options such as bank loans, issuing shares, and sales of assets, as potential sources of funding. It highlights the reasons why Samsung requires funding, such as product development, marketing, and adopting innovation. The conclusion emphasizes the importance of innovation and effective marketing for successful product commercialization, and references relevant academic sources. The report provides a comprehensive overview of the key elements involved in bringing innovative products to market, using Samsung as a case study.

Innovation And
Commercialisation

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

Introduction
 In present world, nearly every firm needs to fully deal with multiple customer requiremen
ts and demands, so considering innovation and marketing is important for them.
Innovation is described as an evolving method that a firm takes to build further new
products and services.

New Product Development (NPD)
processing
 Number of developing funnel are and among them some of them are discussed below:
 Create trust: With the help of this Samsung corporation, they are able to create or increase
confidence in their employees, enabling them to develop further innovative products that lead to
successful marketing
 Predict risk: It will allow the specific business managers to predetermine potential risks that
might help to develop more efficient and correct decisions leading to successful product
innovation and advertising.

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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.
 .

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