Product innovation is the engine of relevance and revenue. But NPD pipelines without a data-driven, consumer-centric approach often stall instead of scale.
New launches should solve real problems or fulfil unmet demand better than competitors. These solutions keep your brand in carts, in minds and in the market.
You’ll learn how to innovate with intent in this episode of Opportunity Minded. Explore the strategic imperatives of product innovation to inform your roadmap.
- What’s the difference between renovation, innovation and disruption? And which should you focus on?
- How do you identify white space opportunities for growth?
- Are you using the right data to inform your NPD strategy?
- Which indicators can signal successful (or failed) launches?
Tune in for examples of new innovative products, costly mistakes to avoid, go-to-market tips and recommendations to help you improve your NPD process.
Chapters:
00:00:00 – Introduction
00:00:14 – Meet the guests: Ali Angus and Brianna Makar
00:00:35 – Ideal innovations from Ali and Brianna
00:02:05 – Defining innovation
00:03:07 – Framework: Renovation, Innovation, Disruption
00:04:11 – Real-world examples: Game time
00:07:35 – Is disruption always the goal?
00:08:53 – Importance of consumercentricity
00:10:07 – Predicting future consumer needs
00:11:09 – Translating megatrends into innovation investments
00:13:11 – Broadening the scope beyond your category
00:15:18 – Monitoring product evolution
00:17:59 – Learning from successes and failures
00:18:10 – Tracking product success post-launch
00:19:47 – Insights from failed products
00:21:15 – Identifying white space opportunities
00:22:57 – Data Duel: Top flavours in soft drink launches
00:27:23 – Potential pitfalls in product launches
00:28:30 – Final advice for improving innovation practices
00:29:29 – Standout new products
00:32:03 – Get in touch and join our community
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Opportunity Minded is brought to you by Euromonitor International—the first destination for organisations seeking growth.
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