InnovMAPTM The Innovation Revolution
Redefining How Brands Create Winning Innovation
Making Innovation Outcomes More Predictable
THE OPPORTUNITY
Creating Business Transformation With Sustainable & Profitable Innovation
Successful innovation is the secret sauce that drives a business to it’s next tipping point of growth.
Today, smaller disruptive brands are creating meaningful impact and redefining growth opportunities. For example, within the CPG (FMCG) industry, the top 20 brands accounted for 30% of the market. However, contributed only 13.3% to the overall growth last year. While smaller brands owned only 25.8% of the market yet delivered 33.8% of the market growth i.e. $514.8M incremental sales.1
Consumers are demanding more choices and brands are delivering against this demand.
On an average, 30,000 products are launched each year.2
One third of US consumers say they are actively looking for new products to try. While brand loyalty is declining - 32% of consumers claim they are less loyal. This suggests consumers are ready to add more new products to their consideration set.3
If brands want to grow, they must innovate!
THE CHALLENGE
Innovating In A Crowded & Dynamic Market Is Complex & Filled With Uncertainty
A new product hits shelves every two minutes in the US, however consumption is at a standstill.4
So, what’s wrong with innovation today? Why is it not sticking?
Brands/Products/Services are losing the innovation battle due to a combination of factors – lack of strategic direction, inconsistent processes/systems, innovation that does not fulfill the market/consumer needs, inefficient execution, lack of resources, and supportive culture/leadership.
Case in Point: Within the Beverage category, only 10% of the new beverage items generated over $15 million in annual sales, with 40% distribution in year 1 - delivering mediocre success.5
Moreover, organisations decide to ignore the market insights and launch new items. Globally, 27% of the new item concepts that tested as ‘not viable’, were launched, and failed. On the other hand, another 27% of new items that tested as ‘viable’, failed, due to lack of support.
The Result: Brands are struggling to launch innovation that is incremental and profitable for their business and the category.
THE SOLUTION
We’ve Pioneered A Simplified Plug ‘n Play Innovation Ecosystem For All Your Innovation Needs.
InnovMAPTM is a suite of Innovation Tools and Coaching Solutions that will transform your business and deliver accelerated growth, year over year, by making innovation outcomes more predictable.
We will help you boost innovation success by addressing the key success factors for innovation - Strategy, Process/Systems, Commercialization and Organizational Culture.
What is InnovMAPTM?
InnovMAPTM is an Ecosystem of Innovation Tools and Design Thinking Solutions that are based on proven best practices across industries and markets. It can be leveraged across the full innovation spectrum - greenfield innovation to localization of global projects.
InnovMAPTM Ecosystem Delivers
InnovMAPTM Design Thinking Solutions
Source: 1 Nielsen MarketTrack National All Channels, 52 wks ended Jan 5, 2019, 2 Nielsen BASES Perspective Dec 5, 2019, 3 Nielsen BASES Breakthrough Innovation Dec 3, 2019; 4 Nielsen Retail Measurement Services All Channels, 13 wks periods ended Mar 30, 2019; 5 Nielsen Innovation, 2019