Innovation and Commercialization: A Case Study of YOYO Drinks

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Innovation and Commercialization

Table of Contents
Introduction:................................................................................................................................................3
1: Explanation of the innovation and how it is different from invention..................................................4
2) Discuss the value and importance of innovation to organizations and explain how Sameer can turn
YOYO Drinks into an innovative company.............................................................................................5
3) Provide an overview of the different types of innovation with a focus on disruptive and incremental
innovation, and explore the pros and cons of each approach...................................................................6
4) Explain the 4Ps of innovation and how this supports capability and management of innovation.
Advice YOYO Drinks which form of innovation they should engage in.................................................8
5) Discuss how New Product development (NPD) processes and innovation funnel can be used by
YOYO Drinks to drive new innovative ideas/products to market............................................................9
6) Analyze what is meant by frugal innovation and provide examples of how organizations are using it.
Also, make recommendations on how YOYO Drinks can benefit from this concept............................10
Conclusion:...............................................................................................................................................11
References:................................................................................................................................................12

Introduction:
The report below evaluates the innovative business strategy and the development of the
innovations in an organization to gain the competitive edge of other organizations of the same
genre. The case study selected for the evaluation of such aspects in the organizational ventures is
the YOYO drinks in the UK. The YOYO drinks in the UK is famous for its healthy mango lassi
which the organization brought in the market 3 years ago and the organization was able to hold
the market very efficiently during that duration but in the fourth year the organization faced
downfall in their business due to inclusion of various new drinks in the market and the CEO of
the firm Mr. Sameer wants to innovate something new but also wants to go ahead with the lassi
preparations and thus is trying to generate new and innovative ideas as well as business strategies
for the development of the business. The report below evaluates every aspect very efficiently.

1: Explanation of the innovation and how it is different from invention.
The invention is the creation of a product or service or introduction of any new product or
process in the market whereas if anyone improves or develops or makes any significant change
in the existing product or services it is called as the innovation. For example when the YOYO
drinks brought the new mango lassi into the UK beverages market it was an invention but after
inclusion of various new types of beverages in the market the firm is needed to implement
innovations in the product and make significant changes in it so that it could grab the attention of
the public and could increase the sales of the organization.
The YOYO drinks three years before introduced a new drink in the UK market and it has been an
innovation for the organizations and the customers both. The organization had a great business
but later when many more organizations learned the procedure for the preparations mango lassi
than the organization’s business was hampered and thus there is a need for innovation. The
organization daily opt for brainstorming for at least 2 hours after the working hours to derive
new ideas for innovating the beverages and attract the customers. The invention has a broad
scope whereas the innovations have a narrow scope in comparison to the invention (Lipkova and
Braga, 2016).
The importance of innovations:
 Innovation diversifies the products and expands the business of the organization.
 It will provide a competitive edge to the organization over others.
 It will assist the company to save time, cost and resources in an effective manner.
This is the difference between the innovation and invention in the organizational premises and
the explanation of the innovation with the help of its importance.

2) Discuss the value and importance of innovation to organizations and explain how
Sameer can turn YOYO Drinks into an innovative company.
The innovation is very essential for any organization to expand the business and present
diversified products to gain a competitive edge over other organizations. The innovations lead to
creating wealth but the efficiency of this doesn't stay for long runs and thus could hamper the
business (Carlino, et. al., 2015).
The innovations help the organizations to develop and coordinate the market reach of the
organization. In an organizational approach, innovation is applicable in all areas the product
development, methods of management, the process of doing the work, etc. and thus the
organization is needed to be more innovative to achieve heights in the organizational approach.
The innovation is the process of the implementation of the creative ideas in the working process
and approach of the organization. The innovation enhances the productivity of the organization.
The innovation when implemented reduces the time and cost, as well as a reduction in the
resources used as most of the old raw resources, is only used by the organizations. To be
innovative the organization is required to do things differently, thinking out of the box, providing
new ideas and products, risk-taking and creativity.
The value innovation is the universally accepted form of innovation. In this approach, the
organization focuses on delivering valuable products to the customers in any form and thus in
this very fewer risks are associated. The new product developing process, new business model,
new ways of delivering the services, new packaging, and new services could provide the
customers better experiences and thus are called as the value innovations in the organizational
terms.
YOYO drinks and innovation:
The YOYO drinks have provided the customers with a new product but due to more new
products in the market, the organization has faced downfall in its organizational premises. The
organization is needed to think out of the box to develop any new product and focus on
delivering a different kind of product with a more healthy touch to it to attract old customers.
The organization is needed to create value in the market. Whether the organization produces
improvements to the present product, develop a new product or manufacturing and production
changes in order to reduce the cost of the products are the ways through which the organization
could produce valuable products to the customers and thus now Mr. Sameer is needed to
concentrate on the value of the products to provide the customers with value products.
The organization is needed to opt for better market research to understand the demands of the
people and then put on the ideas to produce products which could satisfy the needs and demands
of the public and thus the organization could gain profit. The organization is needed to develop
ideas to enhance the business and implement them in their working ventures (Souto, 2015).

3) Provide an overview of the different types of innovation with a focus on disruptive and
incremental innovation, and explore the pros and cons of each approach.
There are various types of innovations which could help the organizations in enhancing the
business and grab the attention of the public easily. Incremental innovations, disruptive
innovations, architectural and radical innovations are the different types of innovations that
different organizations use in there organizational provisions.
Incremental innovations: The incremental innovation is the most used processes as in this
process the organization implement changes in the existing technologies of the organization. In
this, the organizations either add or remove any specification from the products or services that
the organization has produced (Brem, et. al., 2016).
Advantages:
 Low resources risks.
 Price reduction of the products.
 Improves the performance and effectiveness of the products.
Disadvantages:
 Investment in the project is beyond the developer's expectation.
 Products and services do not provide the return to the firm instead of that consume more
budget invested in the project.
 The market penetration of the products or services that are innovated would pass beyond
the early majority.
Disruptive innovations: The disruptive innovations is also called as the stealth innovations
where the organization implements new technologies or processes in the working venture of the
organization and apply newly developed products in the current market of the organization. This
innovative approach provides benefits to the organization and grabs the attention of the
customers easily.
Advantages:
 Provide growth opportunities for organizations.
 It allows smaller and startup companies to compete with big corporate
organizations.
 The new ideas here can be patented and protected as intellectual property.
Disadvantages:

Architectural innovation: The architectural innovations are the type of innovation where the
organization simply takes lessons and learns skills and new technologies and apply them over the
market. This type of innovation provides an amazing increase in customers in the new market.
Radical innovation: This type of innovation provide or give birth to new products to the market
which creates new and revolutionary technologies for the market (Greco, et. al., 2015).

These are the 4 types of innovations in the market which different organizations use in their
working provisions to achieve good heights and gain the attention of new potential customers for
organizational benefits.

4) Explain the 4Ps of innovation and how this supports capability and management of
innovation. Advice YOYO Drinks which form of innovation they should engage in.
There are 4P’s in the innovation that is Product, process, position, and paradigm.
Product: This is where the organizations understand that the recent product is not more able to
bring the organization with the required amount of profit which the organization was earning
earlier and thus the organization is in need to innovate the product to enhance the product-ability
of the organization.
Here the YOYO drinks are needed to try some new ingredients to enhance the taste and quality
of the product and get the customers attracted towards the product. The organization can also
change the product delivery speed, the quality of the services and the hours of operation which
could yield them a good amount of profit. The organization needs to think about keeping the
customers smiling as in this organization only the employees come in touch with the customers
and thus it is their foremost duty to manage smiles on their customer’s faces.
Process: In an drinks and beverages firm the process may be the preparation of the juices and the
drinks but supplying, selling, recruiting and even accounting are also very essential part of the
process of the organization and thus in order to gain profit it is very essential for the organization
to change the process effectively in order to earn better profits in their organizational ventures.
Position: The position is the own perception it either may the perceptions of the employees of
the firm or it could the perceptions of the stakeholders or the customers too. Nowadays in the
global market place, the position of the organization is the most essential thing and the
psychological perceptions of the people about the organization and it is very important for the
organization to maintain a good position in the market.
Paradigm: The paradigm is the specific innovation category in which the organization is
concerned about the changes in the way the organization is working. The YOYO drinks selling
the beverages through the counters or the preparation processes and the online mode of
distributing and selling the products are very essential and thus it is an essential part of the
organizational ventures (Engel, 2015).

5) Discuss how New Product development (NPD) processes and innovation funnel can be
used by YOYO Drinks to drive new innovative ideas/products to market.
The NPD and innovation funnel provide the following importance:
 Allocate the ideas for better screening of the products.
 Making measures for checking and monitoring the changes in the product.
 Make sure that the work is completed with the standards that are shared.
Various ideas are needed to be driven by the organization to market the products efficiently,
some of the ideas are:
 Advertise the products and services in such a way that the organization could reach to
the customers and gran their attention towards the products of the firm.
 The organization is needed to generate and screen their ideas to opt the best methods to
face the market competition and develop the product in such a way that the organization
could maintain a sound image in the market.
 The organization is needed to work in such a manner that they could enhance the quality
of the innovative products and maintain the better sale of new or innovative products in
the market (Bashmakov, et. al., 2015).

6) Analyze what is meant by frugal innovation and provide examples of how organizations
are using it. Also, make recommendations on how YOYO Drinks can benefit from this
concept.
The frugal innovations ensure the development of the models that define the strategies of the
development of the products and services of the organization to achieve the goals and objectives
of the organization efficiently. The frugal innovation deals with the changes in the models for the
product development of the organization and changes in the existing products and the services of
the firm.
The YOYO drinks frugal innovations would support the management of the organization to
reduce the complexity of the operations in the working ventures and reduce the cost of the
products and the services the firm is developing. The technological aspects used by the
organization are advanced and the implementation of these techniques of the frugal innovation
would provide various tactics that would assist the organization to develop various suitable
decisions for the organization (Datta, et. al., 2015).
Recommendations:
The YOYO drinks could implement these innovative processes in their working environment to
monitor their growth and their efficient development of the product and also ways to attract the
customers on a large scale.

Conclusion:
The project report above concludes about the innovative techniques and tactics that are used by
the organization to achieve greater heights in their organizational premises and the adaptations of
the various strategic ways by the organization in their working ventures. Apart from the
organizations approach the report also evaluates different types of innovations and the
importance of the frugal innovations and the implementation of that in the working premises of
the firm.

References:
 Datta, A., Mukherjee, D. and Jessup, L., 2015. Understanding commercialization of
technological innovation: taking stock and moving forward. R&d Management, 45(3),
pp.215-249.
 Bashmakov, A.I., Popov, V.V., Zhedyaevskii, D.N., Chikichev, D.N. and Voyakin, E.A.,
2015. Generic Heurorithm of Innovation Management from Generating Ideas to
Commercialization. European Research Studies, 18(4), p.47.
 Engel, J.S., 2015. Global clusters of innovation: Lessons from Silicon Valley. California
Management Review, 57(2), pp.36-65.
 Greco, M., Grimaldi, M. and Cricelli, L., 2015. Open innovation actions and innovation
performance: A literature review of European empirical evidence. European Journal of
Innovation Management, 18(2), pp.150-171.
 Brem, A., Maier, M. and Wimschneider, C., 2016. Competitive advantage through
innovation: the case of Nespresso. European Journal of Innovation Management, 19(1),
pp.133-148.
 Souto, J.E., 2015. Business model innovation and business concept innovation as the
context of incremental innovation and radical innovation. Tourism Management, 51,
pp.142-155.
 Carlino, G. and Kerr, W.R., 2015. Agglomeration and innovation. In Handbook of
regional and urban economics (Vol. 5, pp. 349-404). Elsevier.
 Lipkova, L. and Braga, D., 2016. Measuring commercialization success of innovations in
the EU.