Timing - MOAweb

April 23, 2018 | Author: Anonymous | Category: Arts & Humanities, Communications, Marketing
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Stefan Peters Februari 2012

GfK Strategic Innovation: How to predict new innovations

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Objectives: Why are We Here?

To provoke and inspire 2

NewProductWorks® (NPW) is an interactive innovation center – Over 110,000 global, new product launches

Aids plotting needs for Strategic

Platform development

Inspiration sparking ideas for

Idea Lab™ concept development The NPW® Collection

What’s So Hard About Innovation and Brand Building? f Generally, new products have a 10% chance of success f Less than 10% of new CPG products considered “innovative” f 43% of all CPG products sold with discount f PL sales up tremendously in past 2 years f Focus on building mega-brands vs. new brands – increasing cross category competition

f Touch points are exploding and control has shifted away from marketers

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Some General Principles `

New products is only one way to grow

`

Before you extend, make sure core is healthy

`

The best innovation starts with great strategy: – Knowing where the market/customer will be – Having key strategic platforms to guide growth – Knowing your organizations’ capabilities

`

BUT - God is also in the details – execution, creativity and commitment are as important as strategy – Messy, but fun process

`

You have to be willing to take risks – If have to fail at least some of the time

`

Not everyone is good at it – get the RIGHT PEOPLE

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Sound Familiar? Uncertainty about the future

Lack of consistent strategic g direction

F Frequent t turnover

Tied to “category truths”

W Weak new product pipeline

To short-term Too focused

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Can’t C an’’t seem to get aahead of the curve

No holistic approach N to innovation

Common Pitfalls Top 10 Reasons for Innovation Failure 10. Lack of customer or market insight (no/poor research)

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9.

Technical/quality or design problems

8.

Poorly positioned

7.

Limited/ineffective marketing

6.

Weak distribution network

5.

Strong competitive response

4.

Late to the market

3.

Lack of internal support

2.

Not new and different enough

Innovation Today

And the #1 Reason for Innovation Failure…

1. Inability to accurately identify and meet the needs of consumers in the future

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Innovation – The Possibilities New Product/ Service Concepts New Brand & Marketing Strategies Revitalized Brand Positioning & Architecture New Business Models, Channels, Customers Optimized, Innovative “Consumer Experience” 9

Tomorrow’s

"As competition intensifies, the need for creative thinking increases. It is no longer enough to do the same thing better, no longer enough to be efficient and solve problems.” Innovation - Edward de Bono

“Next practice is disciplined imagination” CK Prahalad 10

Best vs. Next Practices Best Practices

Next Practices

Learning from the past

Create the future

Focused inward

Focus outward

Reduce risk

Generate high reward

Optimize

Constantly reinvented

Experimental

Play by the rules, only better Tested, traditional approaches

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[

[ Now – Only Better

Create new rules Unique customized approaches [ Disciplined Imagination

[

Easy To Institutionalize

5 Organizing Principles

[Context matters: How you define your business today is probably going to change… [

[Consumers need states are multi-faceted and drive behavior go through predictable waves of evolution [Categories (providing real clues for big opportunities)

[

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[

[Timing is critical – must be timed when market is ready

[

your category influences [The world aroundperception and readiness for what’s coming next

[

(paradigms need to be challenged!)

What Ideas Do These Spark?

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A Few Key Innovation Principles

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ƒ

Multi-Touch Consumer Lens

ƒ

Inside-Out and Outside-In Thinking

ƒ

Challenging Paradigms

ƒ

Beyond Rational - Emotion is King

ƒ

Future-Oriented Strategic Platforms

ƒ

“Smart” Creative

ƒ

Culture of Innovation

Thinking in different directions/Challenging Paradigms The Straddling Bus - What paradigms are being challenged?

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Our Perspective on Innovation Disruptive Innovation Can be Predictable Evolution of Needs

Consumer needs evolve in predictable ways

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Adoption of News

Innovation “news” that meets needs is adopted in predictable ways

The process starts with a model of the evolution of consumer need states and category innovation Consumer Need State Evolution Model

Four Cornerstone Motivators Affect Purchase Behavior SAFETY Personal, Communal, Environmental

“It won’t hurt me, my family, the planet…”

WELL BEING Health Vitality

“It’s really good for me…”

GRATIFICATION

CONVENIENCE Saving Time, Energy, Space

“Me/my loved ones are “It’s so easy for worth it…” me…”

Based on consumer’s lifestyles and values, the role of any one motivator in the purchase decision is dialed up or down

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How Might The Category Evolve Next? Wave 1

Wave 2

Wave 3

Wave 4

Core Benefits (Basic Products)

Advanced Dimensions of Core Benefits

Fusion of Core Benefits

More Prominent Secondary Benefits

Security/ Peace of Mind

Fusion

Wellbeing

Fusion Gratification/ Enjoyment

Fusion

Convenience/ Freedom

TIME 18

Wave 5 - Game Changing Disruptive Innovation Wave 5

DIY “Clean”

Professional “Clean”

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New Category

See the Future Identifying emerging opportunities where customers could go 3-5 years out is a key to finding game-changing innovation…

what we call Wave 5

Bringing the future into focus

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Innovation Tree

Medicated gloves Microsponge

Shows prevalence of innovation “news” in the market in this category

EMERGING technology Vitamin PRODUCT (keeps A stable) Orally NEWS administered

Relaxed Stressed Calming Skin Inflammation

Environmentally Sensitive Anti-Venon (snake bites)

Neutralize Free Radical Damage (Antioxidants)

Relieves Muscle Tension Homeopathic Biofungicidal Controls Sterile Application (herbs) Itching (pumps at Self Sterilizing every angle) Promotes healing Tip Freezing Bacteriostatic 100% Pure Of scars and Bio-stimulins Kills Bacteria No Mess Natural Fruit Goats Stretch marks To stop Sunburn Application Extracts Milk Treats Rosacea Treats Psoriasis (medicated For the Time specific Hypoallergenic Gender Targeted swabs) gym “Therapeutic Formulation Restores Elastin (Male, Moisture” To mature skin “ungendered”) (Day/Night) Anti-inflammatory One Step Cruelty Invisible All Natural Aloe Vera To-Go (Medicated Free (Flesh Colored Exfoliates skin (Belt clip) Cleansing Pads) Paba Acne Treatment) 100% Vegetable Bonus Size based “Medicated” Non-greasy Dermatologist Protective Barrier Intensive Moisture formula Benzyol Peroxide (20% Urea cream) Tested Against Moisture No dyes Vitamins Bar form Loss No colors or harsh (Ease of use) To-Go Prevents Chemicals added Treats Acne Scented 100% Fragrance Applicator dryness/ Free Foam chafing Clinically Proven Pump Treats minor To relieve dry skin Oil to Penetrate applicator skin irritations Skin Helps prevent dryness, chafing

MAINSTREAM PRODUCT NEWS

CORE PRODUCT NEWS

THERAPEUTIC SKIN CARE CONVENIENCE

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WELL BEING

SAFETY

GRATIFICATION

News is coded by motivational driver to see core and secondary activity

Circles show relevant leaves of news that exist in more evolved categories but not yet in the core category

Related “leaves” of news are clustered into “newsworthy” benefit spaces `We call these Future Innovation Branches; there may be 2530 identified Evolution of Category News (The Trees)

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Tipping point opportunity where news will deliver against evolving needs 1-5 years out

Future Innovation Branches (tipping point opportunities) can be sequenced based on how they will evolve & be communicated to consumers ABC

Optimum Hydration

Further Out

AAA

BBB WWW

DEF CCC

IJK MMM

DDD

LLL EEE

XYZ

XXX

LMN

GGG

HHH

GHI

ZZZ

YYY

MMM

FUSION

FFF

OPQ NNN RST VVV

Near In

TUV

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Safety

OOO

RRR

QQQ

FGH

Well Being

Gratification

Convenience

We bring an analytic framework that

Finding Wave 5 Innovation

helps predict GAME CHANGING WAVE 5 opportunities

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Strategic opportunity platforms can then be defined where a brand/company has real leverage, providing innovation focus Future Opportunity Map™ Consumer Motivators

Safety

Well Being

Gratification

Convenience

Emotional Needs Future “benefit space” addressing consumer needs

• Leverage company’s technical skills

Segments

• Easily understandable

How future benefits may be delivered as category evolves

Relaxed Skin

Corporate Citizen

Nature as Healer

Mindless Protection

Proof is in the Power

Proactive Defense

• Strong strategic underpinnings 24/7 Comfort

Treating Anytime

+ COMPANY LEVERAGE

+ COMPETITIVE LEVERAGE

Strategic Innovation Platforms High-potential, ownable market space where unmet or under met emerging needs overlap with brand, operational, strategic & technical leverage 25

• Ownable, future-oriented

• Consumer benefit-focused

Functional Needs

Cutting Edge Influencers: Macro Trends, Science & Technology

Future White Space

Platform Criteria

• High-potential commercialization paths • Rich in opportunity for breakthrough innovation Platform: 24/7 Comfort

How to be the future?

The T he Ann Ann Arbor Arbor Facility Facility

GfK specializes in helping companies and brands…

SEE the future

Define tomorrow’s ownable opportunity space The T he Idea Ide ea a LLab ab a b

BE the future

Fill it with relevant, “ontime” innovation

The NewProductWorks® Collection

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Smart Creative Linked to Strategy

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Timing Matters

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Don’t Forget Timing Wishbone bought Salad Spritzers in 2006; Newman's Own and others soon followed with their own “spritzer” versions

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Before its Time:

At the Right Time:

1988

2006

Don’t Forget Timing Before its Time:

Avert Virucidal Tissues by Kleenex

1984 30

At the Right Time:

Kleenex Anti-Viral Tissues

2004

Thank You

Contact: Intomart GfK Stefan Peters [email protected]

Deep category coverage (~500 samples/ category)

Inspiration & learning across categories & time

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