Successful NPD Strategies in Food, Drink & Personal Care Markets Explored in Topical Canadean Report Published at MarketPublishers.com26 May 2015 • by Natalie Aster
LONDON – The development of consumption habits from pole to pole implies that both retailers and producers are in need of a renewed understanding of changing consumer lifestyles, and how this will likely impact their product choices.
To be actually successful, a new product has to be in line with ever-evolving consumer need states, especially in the context of the current availability of a large volume of products and the growing competition for shelf space among retailers. Presently, producers start to gain a deeper understanding of what consumers actually want and develop respective innovation strategies.
Most significantly, any brand can run the risk of falling into disuse or irrelevant if it fails to keep pace with novel trends in the market. While it is essential not to dilute brand values and credentials, manufacturers should continuously be looking for ways in which they can improve brand portfolios and offerings. For their part, marketers shouldn’t forget to place consumers’ needs at the forefront of marketing and product innovation. Moreover, exhaustive research should be conducted into what is of real importance to consumers so as to not to miss responding to consumers’ diverse needs.
Topical market research report “Successful New Product Development Strategies in the Food, Drinks and Personal Care Market” created by Canadean examines the best NPD, cross-category innovation and marketing campaigns in both developed and developing nations to find common themes alongside best practice. The study casts light on innovative NPD for targeting consumers’ hottest needs effectively as well as providing strategic recommendations to capitalise on the ever-evolving driving forcers of consumption.
The report identifies 4 themes that brands have utilised in the past 1-2 years to target novel opportunities in the food, beverages, spirits and wines, cider and beer, cosmetics and toiletries, and packaging markets. It gives a proper understanding of what role factors like convenience, aspiration, and indulgence play, and how FMCG goods and ad campaigns are important for complying with these needs. The study also demonstrates how changing lifestyles influence consumers' priorities and choices.
Successful New Product Development Strategies in the Food, Drinks and Personal Care Market
Published: April, 2015
Price: US$ 7,995.00
More studies by the publisher can be found at Canadean page.