If you think innovating can be hard normally, try doing it during a global pandemic. It can become downright defeating if you allow it. But if innovation were easy, everyone would do it.
In times of uncertainty, it’s important to stay connected with your consumers. Whether you’re trying to add new benefits to your offerings to keep up with changing consumer opinions, updating claims on your packaging or building your innovation pipeline to meet emerging needs, you need consumer...
At Nielsen BASES, the prospect of deriving new insights from consumers by using different interfaces is an exciting idea. Could dating app style swiping be the next great market research technique?
Drawing from Nielsen BASES’ history of testing over 200,000 new products and over 40 years of forecasting, we have a clear understanding of consumer demand and the impact that price and package changes have on that demand. Throughout our experience, we have identified a few strategies that have...
It’s time to break repetitive cycles of lackluster innovation management. Companies are spending excessive amounts of capital supporting weak products, and it’s clear that CPG companies need better insight into what successful innovations look like before thinking about supporting them with...
Cannabis is poised to be the next big opportunity in the U.S. consumer packaged goods market (CPG). That opportunity, however, isn’t limited to just human consumers. Given the love that consumers have for their pets, the cannabis opportunity, particularly with respect to CBD, is just as big.
Product innovators and marketers spend an exorbitant amount of time and effort perfecting their products before they bring them to market. So, how do they know when the innovation is ready for launch?
Distribution affects new product sales. This is obvious. What’s less obvious is the extent to which CPG manufacturers can predict and control distribution for a new product, especially during the first year in-market.
We know a really good idea and a potential threat when we see one, right? We might, but the most common monitoring approach is to keep a close eye on the in-market performance of those innovations. But this wait and see approach relies on in-market performance, which means it has two serious flaws.
30,000 new products each year is a lot for anyone to think about, and it might seem hard to stand out in a sea that large. But, in reality, there has never been a better time for manufacturers to find breakthrough success with innovation.