Abstract
Overview
Introduction
Innovation is a major driver of growth yet statistics suggest that around
80-90% of all new products fail and industry executives are generally
disappointed in their ability to stimulate innovation. This report is designed
to help by effectively aligning NPD activity with substantive consumer trends.
It does so by identifying ' on-trend' opportunities that arise from the
individualism mega-trend
Scope
- Identifies consumer needs and ' on-trend' product and marketing
opportunities that arise from the individualism consumer mega-trend
- Global coverage: offers examples of ' on-trend' innovation from across the
globe both within and outside of consumer packaged goods
- Detailed recommendations and interpretation offering practical strategies
based on the trends and insights uncovered in the report
- One of a series of six trend specific reports designed to help FMCG
companies innovate more successfully
Report Highlights
One of the major problems associated with innovating successfully is capturing
consumers' imagination. The annual US based "Most Memorable New Product Launch
Survey 2007" found that even among those with strong brand names, 77% of
respondents could not name one of the top 50 new products of 2007 on an
unaided basis
The trend towards personalization is becoming more pronounced, with a
' just-for-me' ethos driving a desire for products, services, and experiences
that cater to specific needs and identities. As a result, shoppers will
increasingly expect additional possibilities by which they can co-create and
self-customize
By providing a platform for customization possibilities, companies also
enhance the probability of benefiting from word of mouth multiplier effects.
Enabling ' participative consumption' also offers an opportunity to command
price premiums
Reasons to Purchase
- Ideation and inspiration: spark new ideas by learning from innovative
on-trend products and marketing campaigns in the FMCG industry
- Trend understanding: familiarize yourself with the key individualism
related sub-trends that should be driving NPD and marketing efforts
- Understand the most pertinent opportunities to drive brand growth and NPD
investment
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