As the inventor Thomas Edison once said, “To have a great idea, have a lot of them”, and this is no more apparent than when it comes to new product development. Creating, screening, and testing many concepts/ideas will often be required to create one, great, in-market success.
Whichever route you choose to develop your new propositions, ensure your brand’s strong and relevant.
Of course, it’s not only about quantity, quality counts too. Understanding current and evolving consumer needs and purchase drivers is fundamental to creating product success, in terms of macro-trends, lifestyle behaviours, attitudes and emotions. There are also more functional and convenience-led benefits and personal preferences for nutrition, ingredients, pack sizes and formats to consider.
What better time than now to be re-examining and re-invigorating your NPD pipeline, as shopper and consumer behaviour has been through a larger and faster disruption than we’re likely to see again (hopefully).
Whichever route you choose to develop your new propositions, ensure your brand’s strong and relevant product attributes/benefits, as well as emotional positioning, are a prominent part of your NPD strategy, as this ultimately provides the reason to buy. Ensuring high relevance to consumers while also providing a point of differentiation is key.
Some key routes to staying relevant may include gaining an understanding of:
- Desire for premium, treat products as ’pick-me-ups’ and self-indulgence
- Environmental and sustainability concerns, including the growth of plant-based
- Overall health benefits such as better-for-you treats and snacks (higher fibre/protein, lower sugar/fat)
- Focussed health, wellbeing, natural and functional food and drink solutions
- An opportunity for more exciting flavours/ingredients
- Increased in-home consumption (rather than on-the-go)
- Needs for different pack sizes to meet different mealtime occasions and behaviours
- A continuing desire for convenient solutions
To return to the hugely successful inventor, Thomas Edison, “When I have fully decided that a result is worth getting, I go ahead of it and make trial after trial until it comes”.
At Savanta, we work with clients throughout the NPD funnel, from understanding the consumer landscape, needs and opportunities, through development of concepts and beyond. We employ both qual and quant approaches, to provide:
- Relevant and differentiated idea generation
- Depth of understanding and opportunity for concept ideas
- Fast and effective idea screening and optimisation
- Rationalised and emotional response to propositions and concepts
- Strengths and weaknesses of, and how to develop and refine, product ideas
- Prioritisation and recommendation for NPD progression
For more information on how we can help FMCG brands successfully navigate these times, please get in touch.