Navigating success in the new innovation ecosystem

This article reviews the state of innovation and what this means for brands, retailers and the FMCG category at large, and provides guidance on how to succeed at innovation.

Venture capitalist Peter Thiel once said ‘competition is for losers’. While every company must engage in the battle for market share, it is the new product war that can deliver the most to corporate prosperity.

Successful new product launches help companies expand existing brand portfolios, create new ones and cross categories. The price premium they command can fuel growth and profitability for years to come. Despite the clear benefits, investment in new products is no guarantee of success and many fail. According to Robert Cooper in his book Winning at New Products, only one product concept out of...

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