Published: 09/09/2014
Within a year, 76% of the launches of new consumer products placed on the main European markets fails, reaching 10 thousand units sold pieces. And ‘what emerges from the Breakthrough Innovation Nielsen report released today, which examined 12 thousand cases of innovation in the period 2011-2014 as part of the main European markets. A surprising finding since, according to the report, marketers have all the tools to break down these failure rates and achieve 85% of success, through the application of appropriate formulas strategic in their approach to new launches and placing the foundation for a strong culture of innovation.
Of the 12,000 new products launched, surveyed by Nielsen, only seven have been declared winners of the European ranking Breakthrough Innovation 2014, or those that bear the following three characteristics: be differentiated up a new proposal and not a mere makeover, be generating performance a minimum cash flow in one year amounted to 10 million euro, have strength and resistance while maintaining at least the level of sales in the second year 85% of those in the first.
The Nielsen study identifies four basic rules common to all types of launch success: identifying the right innovation and discover the motivations of consumator, give innovation the right prerequisites, choose the right launch strategy and create the right team of collaborators. ” Product innovation is the key to success and is within the reach of every man of marketing, beyond the fact that the brand is important or not, local or international, or that the category is growing or not ” said Christine Gringel, head of innovation at Nielsen in our country. “On average in Italy – adds Gringel – successful innovation has generated sales amounting to 7 times the average turnover of innovations, in line with the result at European level. In the case of cookies and juice is even likely to generate sales of up to 11 and 16 times higher. “
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