It’s clear there’s a huge amount to get right when a consumer goods company launches a new product. They need to understand who’s going to buy it, how to package and present it, as well as get the price right. And that all needs to be backed up by a totally reliable manufacturing supply chain. Getting all of these elements right is critical to success – especially if there’s a global multi-billion dollar opportunity. That’s why one of the world’s leading food and drink companies asked us to carry out an in-depth analysis of the market for a new snack they believed had that kind of potential.
We put together a unique team of expert business strategists and product designers to give them the detailed insights they needed across the marketing, design and manufacture of the new product. The team carried out a detailed review of the likely target customers – researching everything from where they lived to when they’d eat the snack – at home, at work or on the go. And we tested the price the company should charge. The next step was for our design and innovation teams to develop different concepts of the product for consumers to try. We followed this up with an analysis of the supply chain that would be needed to produce the snack.
Consumers were very positive about our design concepts. And our work gave the global business a comprehensive picture of both the potential and the pitfalls of the opportunity.