EVEN-BETTER NPD STRATEGIES
The Food & Drink Innovation Network is running a seminar on Thursday 29th April 2010 to look at why nine out of ten new products fail and how to dramatically improve the odds of product success.
The seminar is called Even Better NPD Strategies and is based on “countless interviews” with NPD specialists around the world. It will be in Daventry, Northamptonshire.
The consensus is that new product success relies on getting your “fuzzy front end” right. This is the strategic piece of NPD as opposed to the executional or implementation piece.
As ever, the FDIN has lined up an excellent cast of speakers who will cover:
Here is what they are going to cover, followed by the agenda in detail. To book on the seminar click on the link at the foot of the article.
• How to work with the right global and local economic outlook, especially when the economists keep changing their minds?
• Understanding how humans really make decisions … all along the value chain?
• How to hit the sweet-spot where technical innovation meets consumer needs?
• How to manage individual projects as well as the big picture?
• How to get the brand strategy right both globally and locally?
• How to use the web to “crowdsource” to capture ideas and use the “wisdom of crowds” to evaluate them.
• How to dip into “Open” and “Breakthrough” innovation.
• And … how to make the best of concept generation and evaluation when we past the fuzzy front end.
AGENDA.
CATCHING THE TRENDS AT THE
FRONT END OF INNOVATION.
Meabh Quorin – Managing Director – The Future Foundation.
• From insight to innovation – choosing the consumer trends that will lead you to the best products.
• The safer bet – how to quantify, reinforce and pitch your innovations.
• Horses for courses – inspiration for your innovation timeline – be in for next season, next year, next decade.
• Deep dive on fruitful NPD trends for
2010/2011:
Luxury – inhibitions and aspirations.
Eco-consumerism – a check on the consumer’s green pulse.
Economic warriors – what does the post-recessionary demanding consumer want from grocery retail?
THE FICKLE CONSUMER – WHAT REALLY MAKES PEOPLE BUY!
Tim Reid – MD – Tim Reid
Partnership.
Academic psychology and neuroscience are giving us fresh insights into how we make decisions.
• How our conscious and unconscious work together – two system thinking.
• Exactly how our decisions are not rational.
• Why first impressions are crucial.
• Why we prefer the familiar to the unfamiliar.
• How to handle change; the three things you have to do.
STRATEGIC ROADMAPPING – PRODUCT EXCELLENCE COMBINES
TECHNOLOGY TRENDS WITH CHANGING CONSUMER NEEDS.
Dr Rob Phaal, Senior Research Associate, Centre
for Technology Management, University of Cambridge.
• How Roadmapping supports strategy and innovation, aligning key technical and commercial perspectives.
• How Roadmaps visually empower customers and supplier.
• A flexible system which can clarify strategic needs and issues.
• A structure which enables consensus building, decision making and action planning.
GETTING TO GRIPS WITH THE FUZZY FRONT END – SPOTTING THE WINNERS AND KILLING THE LOSERS.
Steve Rogers – Strategic Director – Sopheon.
• From inspiration to perspiration: History of NPD process.
• Empirical NPD: identification of critical success factors.
• Moving forward: taming the tiger, turning creativity into a process at the fuzzy front end.
• Front-end Portfolio management – corporate criteria to find great ideas?
• Managing fuzzy content at the front of NPD.
HOW BRAND STRATEGY FITS INTO
THE FRONT END OF NPD.
Crispin Reid – MD – Brandwise.
• Which are the major food brands globally and in the UK and what makes a good brand.
• Reviewing your existing brand portfolio when to kill brands and when to develop and launch new ones.
• How to make sure your brands maintain competitive advantage within their categories.
• What questions to ask about brand salience at the various NPD stage gates.
• Getting the right shopper and consumer input for brand
innovation.
CROWDSOURCING AND IDEA MANAGEMENT – BEST PRACTICES IN CAPTURING IDEAS FROM INSIDE AND OUTSIDE THE ORGANISATION.
Carin Port, Senior Consultant, Hype (the world’s
most widely installed Idea Management Software).
• Creating a buzz: How to use Web 2.0 thinking to create a community of innovators.
• Play, compete, be curious, stand out, and make a difference: What intrinsically motivates innovators.
• The tools of the trade: Campaigns, contests, votes, wild cards, rewards, reputation, and metrics.
• Ideas come in different flavours: Commonalities and differences between NPD ideas, cost-saving ideas, lead user ideas, and IP in licensing proposals.
CONCEPT GENERATION AND EVALUATION – MANAGING THE NPD
FUNNEL.
Tim Nicol, Managing Director, The MIH
Centre.
• Get the front end right and the back end will
follow.
• Getting serious about creative idea generation.
• What’s a concept?
• Screen if you want to go faster- internal evaluation.
• Focus on the winners but don’t just use focus groups.
PLUS CASE STUDIES TO BE
CONFIRMED.
PLUS.
• Three table team brainstormings so you can work with peers on how to take forward your new ideas.
• End of the day Q & A … a chance to pose your questions to the panel of experts.
• A chance to win a Magnum of Finest Champagne.
For information on pricing and to book on the seminar click here.
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- NPD FINANCING FROM FROM FOOD PROCESSING FARADAY
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- Innovation drives export, says expert
