Getting The Job Done: The Science Behind Innovation Success

 In Australia, NewZealand
Innovation is a science, not luck or magic. Successful innovation can often be the key to delivering real incremental dollar growth to a mature category or manufacturer who is trying to compete in a low growth environment – it’s critical to get right and it’s astounding how many get it wrong.
Nielsen’s 2016 Breakthrough Innovation Report – conducted for the first time in Australia – celebrates high achieving brand innovation and highlights critical and actionable lessons for the entire grocery industry. The grocery sector is notorious for incredibly high new product failure rates. In fact, our research shows that 25{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of new products did not stay on the shelf after the first year of launch. And, only 53{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of products on grocery shelves were launched in the last five years – indicating the importance of having a healthy innovation pipeline to stay relevant with consumers. Nielsen – Read more…

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