Businesses innovate or businesses die. It’s that simple. Successful businesses stand out because they make innovation a priority and put their money where their mouth is. We’ve validated through in-market performance that one of the few reasons why high growth FMCG companies in India stand out is because they invest in innovation and make it work for them. This report presents the story of the Breakthrough Innovation Winners – celebrates the winners, highlights some essential themes and takeaways that can help marketers improve their innovation performance and win in the Indian marketplace, and showcases some case studies where we have interviewed the winners to learn from their experience – enabling us to share their stories, discoveries, and transferable insights.
India is considered by many as a hotbed of innovation. However, innovating successfully in India is far from easy. But, as this year’s Breakthrough Innovation Winners demonstrate, success is rooted in three core principles of Demand-driven Innovation: demand-driven insight, demand-driven development, and pervasive leadership.
Three-Core Disciplines Of Demand Driven Innovation
Breakthrough innovation success is rooted in three core disciplines as exemplified by many of the 31 winners. Organisations that internalise these disciplines give themselves a better shot at success.
• Demand-driven insight: Uncovering latent demand – lurking in the unmet needs and poorly performed jobs in consumers’ lives – is at the core of breakthrough innovation.
• Demand-driven development: From beginning to end, the innovation team must pursue the demand-driven insight faithfully and fully. The concept, product, and go-to-market execution all must align – free from the constraints of established processes, existing resources, or marketplace assumptions – in order to realise a breakthrough proposition.
• Pervasive leadership: Driving the innovation process with rigour and passion over the countless hurdles that must be cleared from idea to launch to years of in-market support requires top down, bottom-up, outside-in, and inside-out leadership throughout a committed organisation.
This year’s winners delivered a new proposition to the market, generated a threshold level of sales for their owners, and enjoyed a sustained level of consumer demand beyond the launch year.
These winners challenged convention and triumphed by expanding or transforming categories – a breakthrough winner hallmark. These winners racked up an average of INR 340 million in their launch years and have set the benchmark for FMCG innovation success in India.