Brand Innovation in packaged goods

The 9 out of 10 rule as applied to humans and not cats. Although a certain well know brand of cat food claims to enjoy a staggeringly high preference ratio amongst its particular target audience ie cats ,the same rule of thumb applies somewhat differently in fmcg branded innovation targetting humans, where the failure rate amongst new product launches is held to be 9 out of 10 . Clearly we are getting our new product strategies, planning and launches staggeringly wrong overall, putting a lot of time , effort and credibility with both customers and consumers at risk. No one would hopefully question the imperative for continuous , accelerated and much more successful new products.By definition launching genuinely new products is risky and costly , as well as having typically a medium term payback. In return successful genuinely new products should enhance average margins . Here are some personal observations from someone who has spent a lot of time developing and launching new products both in the UK and internationally... The first requirement is to have a clear joined up business vision, with brand , portfolio and overall business strategy including priorities acknowledged up front, and the role of new products understood and shared...alongside that of say acquisition ,lower risk brand extension or increasing distribution by investing in the sales team., or as is often the case sweating the assets .or a big favourite in multinational head office teams...rolling out a success from another country ( usually the planet Klingon*). The second key requirement oddly enough is not so much about having ‘that great idea’ , but all about nurture and protection as you incubate and develop it to deliver it, intact ,to market. To succeed the idea must please many gatekeepers with different needs along the way, and maybe the most dangerous are the internal ones.. the voice of the consumer or the carefully chosen customer are often easier to ignore. The journey of a new product from the first appearance on an innovation funnel chart to a successful launch is a fraught one ...but each idea needs a true believer on the main board, otherwise it is doomed. A new idea is by definition out of the ordinary and somehow challenging to the current business, and may require a leap of faith or real empowerment by The local Board ....or head office.