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Why Consumer Goods Companies Struggle with Innovation
Why Consumer Goods Companies Struggle with Innovation
Why Consumer Goods Companies Struggle with Innovation
Why Consumer Goods Companies Struggle with Innovation
Why Consumer Goods Companies Struggle with Innovation
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Why Consumer Goods Companies Struggle with Innovation

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New research from CGT and Sopheon looks at challenges impacting the innovation performance of today’s CG manufacturers. Benchmark your innovation practices and results against industry peers. …

New research from CGT and Sopheon looks at challenges impacting the innovation performance of today’s CG manufacturers. Benchmark your innovation practices and results against industry peers.
Quick facts:
- Only 1 in 5 new CG products is considered “highly innovative”
- Typical planning horizon for CG companies is 3 years or less
- 25% of revenue for the average CG company comes from products introduced in the last 3 years
- On average, only 50% of new CG products meet their profit objectives.

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  • 1. Why Consumer Goods CompaniesStruggle with Innovation<br />New Research Sheds Light on Gap<br />Between Goals and Performance<br />
  • 2. The Survey<br />Conducted jointly by CGT magazine and Sopheon<br />Distributed globally<br />Respondents from cross-section of CG markets<br />Majority with revenues of $300M+<br />
  • 3. Sample Findings<br />Top three reasons new consumer products fail to achieve profit objectives<br /><ul><li>Products not differentiated (59%)
  • 4. Ineffective promotion (53%)
  • 5. Inadequate market analysis (51%)</li></ul>Biggest challenge to ideation: good ideas get “stuck” and don’t move forward<br />Only 1 in 5 new CG products is considered “highly innovative:”<br />Characterization of New Product Releases in Past 12 Months<br />
  • 6. Sample Findings<br />Most common information gaps when considering potential new product investments<br /><ul><li>Product’s future financial value (45%)
  • 7. Validation of market need (41%)
  • 8. Project feasibility / risk (33%)</li></ul>Eighty-two percent of respondents use gated product development processes; 50% say their processes are regularly adhered to<br />Typical planning horizons are three years or less:<br />Time Horizon for Strategic Planning<br />
  • 9. Why Consumer Goods CompaniesStruggle with Innovation<br />For complimentary access to all the <br />survey’s findings go to:<br />http://budurl.com/CGTresearch<br />

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