Improving Innovation at Consumer Packaged Goods Companies
Author: Jackie Aperi
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Summary: Consumer Packaged Goods(CPG) managers frequently struggle to deliver new products that meet consumer needs and create lasting differentiation from competitors. Some of the innovation challenges CPG companies face are risk aversion for mature brands, inarticulate consumers and nearsighted focus on short term profits. These forces can trap CPG's into creating incremental innovations when discontinuous innovation is a more sustainable and profitable long-term strategy. This paper offers three breakthrough tactics to deliver new products that meet consumer needs without increasing R&D budgets.
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