To innovate, or not to innovate, that is the question
Ray CrookTNS Asia Pacific
Ready, set... innovate!
Kantar Worldpanel predicts that 75 per cent of growth for consumer products companies in the next decade will come through new product development, but such topline statistics disguise the fact that the benefits of innovation are very unevenly distributed between businesses. The price of innovation failure can also be high. Launching an unsuccessful product wastes marketing budget, undermines a brand's credibility with vital trade channels, and can damage brand equity - reducing the business's potential to launch new products in...