A global category leader in personal care products experienced a shortfall in novel products to support the existing portfolio. In both current and new markets, the client had a strategic imperative to develop and prioritize customer oriented offers. With hundreds of potential markets and thousands of new product ideas, a clearly defined and efficient process was a business necessity.
A market driven innovation approach was developed to
- Ground ideation from a consumer perspective
- Develop processes and tools to generate actionable market insights and product concepts
- Prioritize concepts to ensure focus
The following tools and processes were developed, piloted and embedded into the organization.
- Tailored pipeline process
- Primary and secondary market research processes
- Market attractiveness screening tools
- Consumer-based ideation techniques
- Internal capabilities analysis
- Valuation and new product modeling
- Portfolio screening and prioritization
Thousands (1000’s) of product and service concepts were evaluated and prioritized. Primary opportunities were developed through consumer launch resulting in 43 successful product launches, many of which can be seen on retail shelves today. Innovative processes were institutionalized in the client’s organization and now contribute to a steady stream of new products and services.