melbourne school of business panel presentation
TRANSCRIPT
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“Brands are the most important assets of
your business and your people are the most
important resource in building Brands”
What We Believe…
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The implementation of something in the market
that is new from a consumer or customer point of view and adds
value to the brand.
Innovation
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Consumer Insight – Below the Surface
Overt
20%
80%
Covert
Opinions
Interests
Behaviour
Activities
Habits
Emotions
Feelings
Behaviour Patterns
Beliefs
Values
Attitudes
Needs
Motivation
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Innovation portfolio linked to strategy and risk profile
Incremental Innovation
• New News• Build existing brand
platforms• Current Products
• Low cost• Low risk• Fast & Regular
Step Change Innovation
• New generation• Fundamental change• New Technology &
Products
• Medium Cost• Medium Risk• Every 2 – 3 years
Quantum Leap Innovation
• Complete change in rules of game
• Normally High Cost• High Risk• Every 5 - 10 years
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Example – Nivea Face CareBasic Range • Basic, Fundamental face care range• Mature market• Major innovation investment not warranted - protection
from Private Label & smaller manufacturers required• Utilise Super Claims to deliver new news, maintain
relevance
Early Anti-Age• Important range• Higher Price and market in growth• 4 – 5 years requires Step Change Innovation• Super Claims used in between to maintain relevance, new
news, defend against competition
Mature Anti-Age• Step Change Innovation every year• High growth category• Highly engaged consumers and discerning consumer• High prices and margin
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Lucozade – The original energy drink
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Creating an Energy & Sports Drink powerhouse
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Flavoured Milk
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Flavoured Milk to Iced Coffee
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In Summary
• It’s the Customer/ Consumer/ Patient Point of View that Matters
• Overt – Observation and Claims
• Covert – What’s inside their head!
• Quantum Leap & Step Change Innovation are important but ……..
• Successful Incremental/ Continuous Innovation drives
• External Focus – Customer/ Consumer/ Patient Needs
• Creative thinking and problem solving
• Greater cross functional alignment and integration
• Greater productivity
• Greater cash returns to the business
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Melbourne, Victoria 3188,Australia
Tel: +61 (0) 404 098 [email protected]
© XPotential 2015