What are brands like Kraft, Kellogg’s and Atkins doing to make the list of this year’s innovators?
Of the 3,522 new products launched in 2015, 12 achieved the criteria to be called “Breakthrough.” Lessons from the 2015 Nielsen Breakthrough Innovation Winners feature best practices from winning brands – with seven specific case studies that roadmap their road to success.
These lessons help to debunk conventional wisdom that new product success is random, or reserved for entrepreneurs and risk takers. “Through insights and applying the science of innovation, Nielsen is able to work with innovators to flip the odds from high failure to regular, repeatable and scalable success,” said Rob Wengel, senior vice president, Innovation at Nielsen.
The 2015 Nielsen Breakthrough Innovation Report was released at the Consumer 360 Conference in Washington D.C. The 2015 Breakthrough Innovation Report examines the state of new product innovation and roadmaps best practices of brands who broke through the clutter over the past two years.
Although some products have made the list, the question remains: what can U.S. businesses and brands do to effectively gain consumer attention and win the game of innovation?
The following guidelines, which are applicable for companies big or small are from this year’s winning brands that include: Pepsico, Kraft, MillerCoors, Kellogg’s, Nestle Purina, Atkins and L’Oreal Paris.
- American consumer sentiment toward new product innovation is relatively low in an environment that shows CPG innovation investment currently at an eight year high. With projections that show a real acceleration in the number of products that are being introduced into the marketplace in the next 12–24 months – (yet failure rate for new products stands at 85%) businesses need to be primed for an uphill battle for consumer attention.
- The efforts mapped out in this year’s case studies showcase proven methods to flip the odds from high failure to regular, repeatable and scalable success.
- The application of a “Jobs Theory” yielded success for brands; From ultra-light kitty litter to hand held, healthy breakfast sandwiches… the innovative products named in this year’s Breakthrough Innovation Report highlight examples of innovation that not only help to re-define their category but also served a specific purpose or performed a “job” for consumers.
- The Nielsen Breakthrough Innovation Project has examined over 20,000 new product launches over the past four years; To date only 74 products have been named a “Breakthrough Innovation Award Winner” – (12 brands were awarded this year – with seven highlighted in this year’s report) – all meeting the following strict criteria of success:
– Achieved a minimum sales of $50 million in year one
– Sustained enduring success for two years (achieving in year two at least 90% of year one sales)- Delivered a new value proposition to the market
This year’s winners include:
- Advanced Haircare, L’Oreal Paris
- Atkins Frozen Meals, Atkins Nutritionals
- Duracell Quantum, Procter & Gamble
- Lunchables Uploaded, Kraft Foods
- Monster Energy Ultra, Monster Energy Co.
- Mountain Dew Kickstart, PepsiCo
- Müller Yogurt, Muller Quaker Dairy
- Redd’s Apple Ale, MillerCoors
- Special K Flatbread Breakfast Sandwich, Kellogg’s
- The Red Bull Editions, Red Bull
- Tidy Cats LightWeight, Nestlé Purina
- TOSTITOS Cantina Tortilla Chips and Salsa, Frito-Lay (PepsiCo)
