Analysis of Innovation, Commercialization, and Tesla's Business Model

This report provides an overview of innovation and commercialization strategies, using Tesla as a case study. It begins by defining innovation and its role in meeting market demands, and then provides a brief overview of Tesla's business. The report then explores the concept of the commercial funnel, and the process of new product development, including idea generation, testing, and market analysis. It also discusses the importance of intellectual property rights, and how Tesla protects its innovations through patents, design rights, and trademarks. The report concludes by emphasizing the importance of innovation in driving business success and profitability. The report emphasizes the importance of new product development, and the strategies Tesla uses to ensure success in the market. The report is a valuable resource for students studying entrepreneurship and business management.

INNOVATION &
COMMERCIALIZATIO
N

INTRODUCTION
 Innovation is an effective process of translating new ideas within the
existing products with the purpose of meeting new requirements of
market.
 Mainly, it is applied in the business organization for satisfying
customers needs and expectations.
 Along with this, it also change the process for creating more effective
process and products as well to attain better success in market.

TESLA'S OVERVIEW
 Tesla's is famous American automotive company which operate their
business with the purpose of delivering best quality services and
products to its customers.
 The main products of this company is electric vehicles and Tesla energy
as well. Along with this, Tesla was founded by Martin Eberhard and
Marc Tarpenning in 2003.
 Mainly, it specialise in electric cars and solar panel manufacturing.

COMMERCIAL FUNNEL
 Commercial funnel is consider as an important process which direct
impact on the buying behaviour of the customers related with the
products and services.
 With the help of this, company can easily reduce customers from the
shifting to the other company products and services.
 This is possible by effective setting up effective distribution channel with
the purpose of enhancing overall sales of the company at market place.

NEW PRODUCT DEVELOPMENT
 In this context, there are some effective steps which helps in developing new
products.
 Idea generation
 Idea screening
 Concept testing and development
 Market development and strategy
 Business and financial analysis
 Commercialisation
 Funding alternatives
 Identify key risk
 Leadership challenges and motivating drivers
 Value measurement

TESTING THE EFFECTIVENESS OF THE
NEW PRODUCTS
 It is important for business organization to effectively test and measure
the overall performance of the new products in market place.
 With the help of this company can easily capture customers attention
and at the same time also enhance their market share as well.
 In context of this, Tesla implement new products like new cars with
light weight which may help in them in enhancing their market share as
compare to its rivals.

INTELLECTUAL PROPERTY RIGHTS OF
THE NEW PRODUCTS/ SERVICES
 In this context, there are some effective tools by which Tesla can easily
protect their intellectual property of new products:
 Patent
 Design rights
 Trademark

PATENT
 It is related with the legal rights which is set
by the government to the company with the
purpose of selling company products in
effective way in market place.
 Mainly it provide to those company or
individual who implement new products
with the aim of attaining success.

DESIGN RIGHTS
 It is also an essential right for business
organization which protect the
designing method related with the
products that consist product design,
shape, colour, quality of products.
 All these are includes in designing
pattern of the products.

TRADEMARK
 It is one of the important tool through which Tesla can protect their products
and performance as well.
 Mainly it is related with sign and symbol that make product more unique.

CONCLUSION
 From the above mentioned report, it has been concluded that innovation
play important role in creating as well as developing new products for
meeting customers needs and wants.
 By this company also increase their profitability level at market place.

REREFERNCES
 Damanpour, F. and Aravind, D., 2012. Managerial innovation:
Conceptions, processes and antecedents. Management and organization
review. 8(2). pp.423-454.
 Dries, L. and et. al., 2014. Keeping your secrets public? Open versus
closed innovation processes in the Hungarian wine sector. International
Food and Agribusiness Management Review. 17(1). pp.147-162.