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  • New Product Launch Class

    Transféré par

    Radhika Garg
    67 vues3 pages
    The document discusses different types of innovation: 1. Architectural innovation involves transplanting a product to a new market, like ballpoint pens. 2. Radical innovation creates completely new products or markets, like smartphones. 3. Disruptive innovation makes existing technologies obsolete through lower-cost solutions, like Netflix disrupting TV. 4. Incremental innovation makes small improvements to existing products, like newer razor blade models. It also discusses whether companies should innovate and some of the factors to consider, as well as lack of innovation in Indian FMCG companies. Vectors of innovation include identifying customer needs, developing superior products, repositioning offerings, packaging innovations, and

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    product launch

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    The document discusses different types of innovation: 1. Architectural innovation involves transplanting a product to a new market, like ballpoint pens. 2. Radical innovation creates completely new products or markets, like smartphones. 3. Disruptive innovation makes existing technologies obsolete through lower-cost solutions, like Netflix disrupting TV. 4. Incremental innovation makes small improvements to existing products, like newer razor blade models. It also discusses whether companies should innovate and some of the factors to consider, as well as lack of innovation in Indian FMCG companies. Vectors of innovation include identifying customer needs, developing superior products, repositioning offerings, packaging innovations, and

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    67 vues3 pages

    New Product Launch Class

    Transféré par

    Radhika Garg
    The document discusses different types of innovation: 1. Architectural innovation involves transplanting a product to a new market, like ballpoint pens. 2. Radical innovation creates completely new products or markets, like smartphones. 3. Disruptive innovation makes existing technologies obsolete through lower-cost solutions, like Netflix disrupting TV. 4. Incremental innovation makes small improvements to existing products, like newer razor blade models. It also discusses whether companies should innovate and some of the factors to consider, as well as lack of innovation in Indian FMCG companies. Vectors of innovation include identifying customer needs, developing superior products, repositioning offerings, packaging innovations, and

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 3

    Architectural

    Innovation- transplant Radical Innovation-


    product to new market
    eg ola, ball point pens smartphones
    Y axis- market-existing to new

    X axis-technology-existing to new

    Disruptive Innovation-
    eg. shaving foam over
    Incremental
    cream, fintech, waxing
    Innovation- gillette
    strips over razor blades,
    mach 3, some
    netflix/hotstart etc over
    improvement to the
    tv
    existing product
    makes former
    technologies obsolete

    Should we innovate?

    No-

     Cost of failure
     Cannibalization
     Real need vs fad-is it sustainable to innovate

    Yes-

     Strategic

    Lack of innovation in Indian fmcgs

    The “Jobs To Be Done” theory of innovation:

    https://hbr.org/ideacast/2016/12/the-jobs-to-be-done-theory-of-innovation

    People buy products to “get the job done”

    Successful innovation-solves problems, eases struggles, fulfil unmet aspirations-perform jobs that
    formerly had only inadequate or non-existent solutions

    Understanding the jobs reveals why people purchase and use products and services

    Eg. Buying and storing cat litter regularly- https://hbr.org/2016/09/know-your-customers-jobs-to-


    be-done

    Indian innovators- Darshan Patel, Vini Cosmetics (Fogg, Livon)


    Vectors of innovation

     Need- crack the job to be done, look to the West or Look deep within
    e.g. Sensodyne, Livon, Krack: cracked heels a very India specific problem

     Product- develop a superior product to do the “job to be done”


    E.g. Epigamia yoghurt: quick breakfast, dark fantasy biscuits

     Communication- reposition an existing offering to untap behaviour


    Communication innovation eg Fogg-no gas deos, Moov- positioned as back ache balm
    instead of pain balm. Earlier balms focused on knee pain but the target market (old people)
    was very small, so repositioned to target young Indians who were gradually spending more
    and more time on their laptops, sitting.

     Packaging innovations- e.g. Engage- Pocket deo, tetra pack, cup noodles, sachet packs-
    sachet marketing lead to most penetrated category being shampoo in India, kinder joy-
    changed outer packaging to show people the egg shape, box me egg shape nhi dikhti

     Pricing- e.g. Gillette- razor priced higher than the base product, dollar shave club

     Fair and Lovely- all kind of innovation

    Who-what-when-where-why-but

    Who is using the product?

    What product is the consumer using?

    When are they using the product (time/frequency)?

    Where are they using them product(place/ritual)?

    Why are they using the product-what job are they doing through the product?

    But what are the pain points?

    NPD

     Fuzzy front end- identify levers of innovation: flavour, variety, texture, shape
    Brand equity-drive brand preference, create brand loyalty
    Portfolio sighting
    MUP- multi unit packs

    Which segment? Eclairs, bubble gums, chewing gums, HBC, toffees, jellies

    Jellies was fastest growing segment, hit the 400 crore mark, high share of mind in kids and youth

    JELLY SEGMENT!

    what shape? Do a qualitative consumer dipstick to co-create shape ideas


    which are the best shapes? A follow-up dipstick to evaluate a shape ideas; like- toy-like, smiling, cute
    animals; dislike- dirty animals, too realistic shapes

    trade activation/customer activation

    GTM launch planning

    1. Establish breadth of distribution


    2. Depth of distribution
    3. Arrive at production quantity
    4. Allocate budgets for trade spends
    5. Communicate sell out aids

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