Innovation Branding ROI Ideas Goals

1. IN THE BOX INNOVATION
SOUAD T
B NANDINI
ABHISHEK Y

2. Why Innovation in FMCG product?
• Shorter product lifecycles
• Increasingly competitive services
Facts
• Average FMCG Company introduces 70 to 80 new products per year.
• Procter & Gamble offers 46 different types of Tide in the U.S.
•Dun & Bradstreet study=>One in every 60 or so new product ideas a
company generates will go on to become a successful new product.

3. INNOVATION DEVELOPMENT PROCESS

4. Whether to Think Out The Box or In
The Box in FMCG product innovation?
Thinking out the Box
• Think outside the box very
broad directive for creativity.
• Leads => wide-ranging ideas
which are often irrelevant to
the task at hand & are less
actionable.
=> Skim the surface of an
issue and are actually quite
shallow rather than innovative
in nature.
Thinking in the Box
• Way to generate a large
number of highly innovative
ideas is to focus narrowly and
dig very deep. In other words
the most effective way of
being creative is to stay
“inside” the box.

5. Hypothesis is that directed creativity (in-the-box thinking) results=> more
ideas, more innovative ideas, more actionable ideas, than will non-directed
creativity (outside-the-box thinking)
Directed Creativity
• Ideas must be relevant to
the company’s objectives
Non-Directed Creativity
• Brainstorming
• “Rules” of brainstorming are
extremely vague— anything
goes, as long as negativity and
premature judgment are
avoided.
• Results in ideas that are
superficial solutions for the
problem at hand & at worst, it
can result in unworkable,
irrelevant ideas that are a
waste of time and resources.
HYPOTHESIS DEVELOPMENT

6. Results & Evaluation
Evaluation
• The total number of ideas
generated by each group.
• The number of unique
categories represent content
of the ideas generated , a
measure of participants ability
to generate diverse ideas.
• The relevance of each idea in
addressing the task assigned
to the group.
• The originality of the ideas.
Results
• Creative ideas are generated
by using directed creativity
techniques that “fit” the box
already defined by the
existing business objectives.

7. IDEAS