Innovation Strategies: New Techniques and Best Practice Case Studies in Food, Drink, and Personal Care, Now Available on ASDReports

Wednesday 17 September 2014, Amsterdam

The brand new insight report provides retailers and manufacturers with a much needed, renewed understanding of consumer’s changing lifestyles, and how this will affect their choices. Including detailed insights in both developing and developed countries, this report is a one of a kind essential tool, designed to send a clear message: consumer insight should be at the forefront of new product development and marketing campaigns.

The difference:
•    Food for thought: This report provides actionable insight into new opportunities emerging in Soft Drinks and Hot Drinks markets via  case studies
•    Your cup of tea: Based on Canadean’s unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in 10 Soft and Hot Drinks categories
•    A glimpse of the future: Understanding these trends, and how the most innovative marketers are seeking to target them, will allow marketing tactics and strategy to be updated in line with the very latest consumer behaviors
 
Report Highlights:

The plethora of products available on retailers’ aisles, combined with the increasingly complex need states of consumers, means that in order for a new product to be truly successful, it needs to be on vogue with evolving consumer need states. Indeed, it is not enough for a product to simply try and compete on low cost and unique selling points if it misaligns with what consumers want. The fact that approximately 90% of new product development shows how consumers are not attracted to products simply because it is the cheapest or it does something new. Instead, manufacturers have to understand exactly what consumers want and develop new products and marketing strategies from there.

Moreover, it has to be understood that evolving consumer need states and an increased level of competition in the market means that no matter how established a brand or its level of heritage, it can run the risk of becoming obsolete or irrelevant if it fails to keep abreast of new trends in the market. Put simply, whilst it is important now to dilute brand credentials and values, manufacturers should continuously be looking for ways in which they can improve brand portfolios and offerings.

To assist industry players, Canadean has looked at a number of successful product launches and marketing campaigns across the global FMCG market over the last two years and highlighted how it was implemented to capture consumer attention, and the positive results that emerged as a result. More crucially, the report then takes an in-depth look at the consumer need states that the product aligned with, and why such need states are important, ultimately resulting in the success of the product in a crowded market space.