With 80% of new products failing and with most of the breakthroughs actually being line extensions, we have to admit the CPG approach to innovation is broken. here is how to fix it
May
24
Concept testing and choice experiments throw the insight that consumers are creatures of habit out the window. We force people to tell us if they are interested in a particular new product idea without studying how to disrupt existing consumer habits and rituals.
Apr
29
As behavioral economists know, Adoption of new choices requires breaking consumer habits. In this way, marketing is fundamentally about disruption.
Mar
28
Following experts on a given subject via Twitter is like a masterclass. However, the velocity of tweets can be like drinking from a firehose. Here are tools and an approach for coping.
Aug
21
When are brand extensions a good idea?
In: advertising, brand extensions, branding, innovation, research, retail, shopper marketing
1 Comment
Marketers want to use brand extension strategies as much as possible today because it is a more affordable way to introduce products but the key is having enough rocket fuel, i.e. brand equity, to get the rocket (i.e. brand extension) off the ground.