Successes and Failures in Consumer Packaged Goods Innovation and Marketing in 2011
Effective innovation is difficult to come by, but it is the key to sustained competitive advantage in the consumer packaged goods (CPG) industry. This report slidepack examines best-in-class examples of innovation and marketing—supported by Datamonitor’s consumer insight research—to drive success in this increasingly challenging environment.Access comprehensive analysis of over 50 global successes and failures in the consumer packaged goods industry to drive ideation and inspiration. Obtain country-specific consumer insight to understand the consumer attitudes and needs that underpinned innovation success/failure. Avoid costly investments by learning important lessons from companies and brands that have failed or under-delivered. Obtain a broader appreciation of the CPG industry by gaining insights from both within and outside of your category. Foresee the fate of brands in 2012 with analysis of recently-released products as well as the consumer trends behind the concepts.
A number of successes benefit by offering more personalized features and benefits. This is because in a world of proliferating commodity choices, hyper targeting provides a route to enhanced relevance. Bot Water, for example, repositioned itself to significant success, after realizing it was appealing more among health-conscious adults than kids.
There would appear to be particularly profitable opportunities at the intersection of trends. For example, First Cape in the UK has effectively married consumers health concerns with their sensory needs to garner success in a cluttered market segment.
Many successes are testament to a brand’s ability to identify and deliver against consumers’ unmet needs or needs that are not totally fulfilled by existing products in the landscape. Even in the highly mature cereal market, Kellogg’s Krave, carved out a growth area by focusing solely on providing young adults with taste and indulgence.
What consumer trends are brands tapping into in order to achieve success? Why have seemingly well-conceived, 'on-trend' products gone on to fail? What can be learned from successful products in other categories or industries? What recently launched brands should I be attentive to in 2012?
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