How to save money and get faster and better NPD results.

Posted on Jul 13, 2015

Question: what are the critical success factors for your brand’s NPD projects?

Futurology?

Blue-sky thinking?

Amazing ideation processes?

Transformational change?

Answer: none of these.

In our experience the most important success factors are:

Regular product refreshment

Speed to Market

Here are five simple tips on how to save money and get faster and better NPD results.

Know your History

Who do you think you are? By tracing your brand’s ancestry you can rediscover and reinterpret the successes that helped your brand evolve.

Do Your Homework

Rigorous competitive analysis, store checks and technology, legal/regulatory and market research audits will all help you to get to the right answer quicker.

Search for Insights

Simply look at your brand benefits and answer the question: ‘why is that important?’ until it can no longer be answered.

Get Creative

Creativity is putting two or more things together to create something new and unique. Do this continually until you find simple, powerful ideas. Ideas that provoke the reaction: ”Why has nobody ever done that before?”

Execute as a team

By leveraging the knowledge and experience that’s already in your business you can work magic with existing technical and brand assets to turn your insights and creative ideas into new products that are insightful, fresh and motivating for consumers.

 

Posted by Rick Rowley