WHY NINE OUT OF TEN NEW PRODUCTS FAIL AND HOW TO PREVENT IT
In their June Food & Drink NPD Summit the FDIN is going to get to the heart of why nine out of ten new products fail and how to prevent it.
The speakers will give some valuable clues and insight into how to avoid those failures and improve the odds of launching new products that sell and sell.
The delegates will be hearing about genuine and enduring brand and product innovation from the teams at Aunt Bessies, Birdseye, Dairylea, Marmite, Tetley and Thornton’s as well as a line up of top NPD agency people who have spent their lives studying Innovation. Plus an interactive workshop to show how you can use social networking to enhance your NPD activities.
The summit will be chaired by Sue Lister, MD of Lister Communications which launched, (amongst other winning products) Tesco Finest which is now one of the the UK’s biggest brands. Sue will be sharing with you the secrets of building in a successful media relations strategy right at the beginning of the innovation programme.
AGENDA
THE FIVE SECRETS OF LAUNCHING AN ENDURING PRODUCT.
Jonathan Banks – Global Data And Insight Specialist.
• Engaging emotionally at the right age, how to discover that age and finding the best rules of engagement.
• Avoiding the pitfalls of “Creative Destruction” by creating and executing a long-term strategy.
• Continually evolving the brand in line with macro trends and how to distinguish trend noise from trend signal.
• Maintaining and justifying premium positioning in a world which would have you try the opposite.
• Dominating emerging channels. How to track those channels and keep the brand ahead of the curve.
PROVEN DRIVERS OF PRODUCT SUCCESS.
Paul Beresford – MD – Cambridge Market Research.
• The proven drivers of product success in food and drink.
• Understanding your business, your category and your shopper.
• How to be up to date on consumer sentiment and predict changes coming down the track. Sorting out what really matters.
• What is real innovation, how to select the sweet-spots for product development and above all, how to be relevant.
• Some insights from the Fast Foodfax New Product Testing archive.
GIVING YOUR NEW PRODUCT A BIG SOCIAL MEDIA FOOTPRINT.
Daniel Stracey, Head Of Social Media, InterQuest.com
• Using online buzz and conversations to develop your brand and your new product offerings.
• Observing how brand and product perceptions change in real-time.
• Measuring the impact of your new product in the total social media space.
• Gaining insight into the potential market developments from the customers’ perspective.
• Plus an interactive workshop showing how social media is monitored on line.
TURBO-CHARGING YOUR NPD PROCESS.
Claire Nuttall – Director Of Insight & Innovation – 1HQ.
• The hard questions … and how to ask them upfront.
• Insight versus foresight and getting the balance right.
• The “fuzzy” front end, and ways to gather and unearth better and deeper insight across 360 consumer touchpoints.
• Semiotics, ethnography and psychology … understanding how to nudge consumers of today and consumers of the future.
• New and inspiring tools which will deliver richer and more actionable consumer understanding across all facets of the brand.
CREATING AND RULING BLOCK-BUSTER CATEGORIES
David Jago – Global Innovation Director – GNPD Mintel.
• Good Innovation and NPD – The secret habits of category creators and category rulers.
• Being in the right place at the right time with the right product and the right price.
• What should have stood the test of time, but didn’t?
• Why, and could it have been “saved”?
• What tracking hundreds and thousands of product launches worldwide has taught us.
MAXIMISING MEDIA RELATIONS FOR BETTER TRIAL AND REPEAT PURCHASE.
Sue Lister – MD – Lister Communications.
• How to use PR to get massive media coverage for a relatively low outlay.
• How a good PR campaign can get new products off the ground, especially when budgets are tight.
• How to involve your PR agency at “The Front End” of the NPD process to ensure innovation programmes are on trend.
• How to build your product story into the strategy to maximise pre and post launch sales.
• How to evaluate your present PR performance and plan your long-term product messaging.
PART II – THE CASE STUDIES
AUNT BESSIES YORKSHIRE PUDDINGS AND BEYOND.
Jodie Bell, NPD Director, Aunt Bessies.
Aunt Bessies is a true acorn-to-oak-trees brand. We will hear how the company started with a modest offering of Yorkshire puddings and, through persistence and good NPD, it now has a Potato Range, Vegetable Range, Main Dishes, Traditional Puddings, Cooking Sauces, Ready Meals, Savoury Additions and Sweet Additions. And the original Yorkshires are now available in Large, Light & Crispy, Giant, Batters, and Mid Week Minis all adding to the core business.
BIRDSEYE BAKED TO PERFECTION.
Ian Crichton, Marketing Manager, Birds Eye Iglo Frozen Foods.
We will learn how the range is aimed at making frozen fish more accessible to consumers. The innovation secret is in the unique bag which removes the mess and smell of cooking fish while making it much easier to get a perfect result. After one year in the market the range has already won significant share at a premium price.
DAIRYLEA DUNKERS.
Lynn Grant, Brand Manager, Dairylea Snacks.
First launched in the mid 90’s this is an example of a product which brought something very new to the dairy cabinet and was one of the first products with dual compartment packaging. Dairylea is still innovating and this study will look at the brand and how it has been applied and adapted over the years. Dairylea’s new product is 46g dunkers with Ritz Crackers.
MARMITE IS THE NEW BLACK
David Titman, Marketing Manager, Unilever.
We will hear how Marmite goes on and on, but is continually re-inventing itself. The latest product from the marmite stable is Marmite XO which stands for Extra Old, and it has a longer maturing period for a fuller flavour. However in this talk Marmite’s Marketing Manager will look at how the brand’s sensory equity has been applied, and will continue to be applied, to many categories and many formats.
TETLEY REDBUSH.
Corrine Hopwood, Global Innovation Director, Tetley Tea.
The secrets of how the Tetley brand now offers mainstream appeal to a previously niche sector. Tetley is spearheading category growth by broadening the Tetley business franchise beyond black tea with launches such as Tetley Redbush – an everyday drink for healthy living consumers. On the market for two years, Tetley Redbush is the number 1 brand in both volume and value and has the highest household penetration.
THORNTON’S MINI CAKES.
Matt Smith, Marketing Manager, Thornton’s.
Matt will explain how chocolate mini cakes have brought all the values of the leading premium confectionery brand into a more everyday occasion through licensee partner Finsbury. We will hear how this product was inspired and delivered as well as how to build a strong licensing partnership focused on growth and NPD.
To book on the seminar click here.
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- TETLEY LAUNCHES SOYA TEA
- TETLEY TO SPONSOR NATIONAL CUPPA DAY
- TETLEY LAUNCHES NEW GAFFER BISCUITS
- Tetley to raise awareness of Extra Strong
- THE FIVE SECRETS OF LAUNCHING NEW PRODUCTS THAT SELL AND SELL
