Posted on Marketing Week by Leonie Roderick, this article looks at key drivers of successful brand innovation starting with understanding the changing customer need, taking a long-term external perspective and having a wider purpose.
“A report by research firm Nielsen analysed 8,500 FMCG launches in Europe since 2013. Of those, only 18 achieved “breakthrough innovation” success. To be classed a winner, product launches had to meet three criteria: deliver a new proposition, generate at least £10 million sales in their first year of trading and maintain at least 90% of their sales in the second year.”
Click here to read full article: What L’Oréal, Britvic and Unilever can teach brands about innovation | Marketing Week