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On-Trend' Innovation & Marketing Concepts: The Convenience Mega-Trend
Datamonitor, Aug 2008, Pages: 43
Innovation is a major driver of growth yet statistics suggest that around 80-90% of all new products fail and industry executives are generally disappointed in their ability to stimulate innovation. This report is designed to help by effectively aligning NPD activity with substantive consumer trends. It does so by identifying on-trend opportunities that arise from the convenience mega-trend.
Scope
- Identifies consumer needs and on-trend product and marketing opportunities that arise from the constantly evolving convenience consumer mega-trend.
- Global coverage: offers examples of on-trend innovation from across the globe both within and outside of consumer packaged goods.
- Detailed recommendations and interpretation offering practical strategies based on the trends and insights uncovered in the report.
- One of a series of six trend specific reports designed to help FMCG companies innovate more successfully.
Highlights of this title
One of the major problems associated with innovating successfully is capturing consumers imagination. The annual US based 'Most Memorable New Product Launch Survey 2007' found that even among those with strong brand names, 77% of respondents could not name one of the top 50 new products of 2007 on an unaided basis.
The convenience mega-trend reflects the increased time pressures, stresses and work-life balance problems that consumers increasingly experience. A desire to overcome the pressures of a hectic lifestyle and free up time for leisure activities or relaxation are the main drivers for sales of goods that provide consumers with convenient solutions.
Four core issues deal with the topical aspects of convenience for consumers, namely: the speed which a consumer can utilize a good or service; the locations in which it is possible to do so; the size of the product; and the way the product is delivered to the consumer through the packaging. Successful products deliver in many or all of these.
Key reasons to purchase this title
- Ideation and inspiration: spark new ideas by learning from innovative on-trend products and marketing campaigns in the FMCG industry.
- Trend understanding: familiarize yourself with the key convenience related sub-trends that should be driving NPD and marketing efforts.
- Understand the most pertinent opportunities to drive brand growth and NPD investment.
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