Innovations: not fast – agil
Most retailers and fast-moving consumer goods (FMCG) manufacturers tell us that today, growth is hard to find. Landscape shifts an d changing consumer habits are making it harder for brands to succeed.
Brands face an increasingly busy and competitive market where innovations have to work harder to break through and remain competitive. We conducted a survey with our FMCG clients asking them if they faced more pressure to bring products to market faster today, compared to five years ago: 84% agreed.
Why so much pressure today? The main reasons lie in the desire to capitalize on emerging consumer trends, the need to defend share against smaller players, and pressure from senior stakeholders to launch more quickly. This very often translates to making more decisions based on less insight.
But this approach of cutting corners and making quick decisions fails to address the problem. While speed is important, FMCG companies need to focus on launching better products and launching them in a better way. Being fast isn’t the same thing as being agile. Fast is about getting to the end result quickly—while agile is about getting to the end result quickly, and correctly. We learned from the smaller, more agile companies that success is not about rationing resources, it is about maximizing them throughout the innovation process.
In this report we share our learnings and best practices on how to maximize your return on innovation at every phase of innovation development. We have leveraged success stories from the European market to bring these learnings to life. Combined with our own research we will provide our point of view on how manufacturers can innovate in a smarter and more agile way without compromising on quality of insights.
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