Innovation and Commercialization Project: YOYO Drink Business Analysis

This project examines the innovation and commercialization strategies for YOYO Drink, a small UK-based enterprise manufacturing mango-flavored lassi. The assignment explores various business innovation ideas, including organic drinks, low-sugar options, and different flavors. It outlines the commercial funnel, marketing opportunities for a new drink product, and an overview of the food and drink industry in the UK. The project includes financial projections, potential funding sources, and techniques for testing the new product. It also covers intellectual property protection and concludes with a reflection on the group work experience and the development of communication and teamwork skills. References are provided for further reading on entrepreneurship and innovation.

Innovation and
Commercialization

Table of Content
■ Introduction
■ Overview of company
■ Commercial funnel for providing solution to problem
■ Innovative new drink product proposed
■ Marketing opportunity of innovative new drink
■ Overview of industry
■ Financial projection
■ Sources of funding
■ Funds that are required to be raised
■ Techniques for testing
■ Different tools for protecting intellectual property
■ Conclusion

Introduction
Innovation refer to the process of converting an idea and thought into a good and
service which generate value and the customers will ready to pay for that. It can be
a process by which a business origination use something new within its existing
products and services of the company.

Overview of the company
YOYO drink is a small size enterprises which operate its business in the United
Kingdom and manufacture mango flavor lassie. This organization was founded by
Mr. Bond and it was started three years ago and has been fast growing and
developing. There are several business innovation ideas that can be considered by
the administration of the firm.

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 The administration of the company can make innovation in its existing business
by making organic drinks.
 The management of the firm can make innovation by by low sugar and calories
in its drinks products.
 The firm can make creation in its current product by manufacturing it in
different flavours like banana, chocolate, strawberry and others.

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The management of YOYO Drinks can adopt the idea of manufacturing products in
different flavours. So that the administration can maximize the sales of the
company making these kind of creation in its business. It is beneficial to the
company because help in maximising the productivity of the company due to the
drinks will be available in different flavours which I liked by different gender
and ages of target audiences

Commercial funnel to provide a solution of problem
Commercial funnel is crucial for YOYO drink to bring preservative Lassi within the market
place. Determination of these are as following:
 Pricing policy
 Improving way of growing business
 Implement investigation program-mes

Innovative new drink product proposed
In order to decrements in the sales of the product of YOYO drink company, the management of
this organization decided to make innovation in its existing products to make increment in the
sales of the company.

Marketing opportunity of innovative new drink
There are various market opportunity for YOYO drink to carry their progressive new drink in
the market. As respective organization can make collaboration with some well known
organization which help them in gaining market opportunities in order to make increment in the
sales of the firm.

Overview of industry
YOYO drink manufacture healthy drink like mango lassi so it belong to food
industry. In UK, Food and drink sector is a major element of the UK manufacturing
economic system, representing over 15% of manufacturing turnover and job
opportunities.

Financial projection
In YOYO drink, the management of this company required ￡ 35,000. Because
when this firm make innovation in its existing products, the management organize
market analysis and market research process to identify the need and demand of the
customers so that they can manufacture products according to them which provide
satisfaction to their desires.

Sources of funding
Any organization can not operate and function its
business without fund and the money is also needed
to make a business function is known as business
funds Some of source of funds are as following:
 Loans form bank and financial institutions
 From friends and family
 Venture capital