Report on YOYO Drink's Innovation and Commercialisation Efforts

This report analyzes YOYO Drink's innovation and commercialization strategy, focusing on their new Tutti-Frutti chocolate lassi. The report outlines the company's background, challenges, and the commercial funnel used for product development. It details the marketing opportunities, industry competition, and financial projections, including funding sources and the funds needed for the product launch. Techniques for testing the new drink's effectiveness, such as offering free samples, are discussed, alongside tools to protect intellectual property rights like trademarks, copyrights, and patents. The conclusion emphasizes the importance of innovation for business sustainability and competitive advantage. The report covers various aspects of business strategy, including pricing, technology implementation, and research programs, providing a comprehensive overview of YOYO Drink's approach to innovation and commercialization in the UK market.

Innovation and
Commercialisation

Table of Content
• Introduction
• Company's background and problems
• Commercial funnel
• Explanation of innovative new drinks product
• Summary of marketing opportunity
• Overview of industry and competition
• Financial projection

Cont....
• Sources of funding
• Funds that are needed to be raised
• Techniques for testing new drinks effectiveness
• Several tools that can be used to protect intellectual property rights
• CONCLUSION
• REFERENCES

Introduction
Innovation refers to the process through which individuals identifies
solutions for the existing problem or the common problem through
which all are going through. Whereas commercialisation is considered
as the launching or introduction of new product or services at
marketplace which will satisfy needs and requirement of customers in
right direction.

Company's background and problems
YOYO Drink is known as the small scale organisation, the founder of
this is Mr. Bond. He started his business three years ago as well as the
firm sell mango flavoured lassi. Its sales is constantly as they uses
innovative formula and distribution capabilities of the oraganisation.
But after 3 years, its sales get reduces. As many competitors enter into
which is a major problems for them.

Commercial funnel
In organisation, commercial funnel is defined as the framework which
have 3 aspects that assist to recreate their present product by executing
various profitable plans as well as policies. This is significant for
respective company to introduce Tutti-Frutti chocolate lassi within
market. Few of their utilises as well as significant are explained below:
• Pricing Policy
• Improving the development of business
• Emergence of advanced technology
• Implementing the research programmes

Explanation of innovative new drinks product
YOYO Drink is introducing their innovative products that is Tutti-
Frutti chocolate lassi which helps them to attract more or huge clients.
This new product have chocolate flavour tastes as the tutti-frutti present
in that make that ore attractive. It maximises respective company sales
and profit again in United Kingdom market.

Summary of marketing opportunity
As YOYO Drink is planning to launch their new product drinks which
is Tutti-Frutti chocolate lassi within market so it has many opportunity
in the market. Like, it can collaborate with some well known and
famous company so that they can able to obtain more opportunities into
market and increase its sales. Also, respective firm can able to offer
some kinds of discounts and coupons which aids them for grabbing the
attention of more consumers.

Overview of industry and competition
As YOYO Drink is a a small scale firm that offers healthy and tasty
lassi like mango flavoured lassi. This organisation is related with the
food industry. In UK, The industry such as food and drink sector is
known as the important element of respective firm ecosystem which
shows about 15% of manufacturing turnover and opportunities of job.

Financial projection
In this, the funds are shown which is needed by company for
introducing new products. As YOYO Drink is launching their
innovative product that is Tutti-Frutti chocolate lassi within the United
Kingdom market. So, they required about £ 30,000.

Sources of funding
Generally funding is considered as the backbone of the organisation as
without it they are not capable to do their regular business activities
efficaciously. Moreover, funding is defined as the act of facilitating the
financial resources mostly in the forms of money. Few sources of
funding that can be used by YOYO Drinks are explained below:
• Banks and financial institution
• From friends and family

Funds that are needed to be raised
As YOYO Drink is introducing their innovative product that is Tutti-
Frutti chocolate lassi so it is essential for them to raise their funds for
the marketing, producing, technology etc. this will assists them to
consider appropriate place within competitive surroundings.