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Joan Treistman's RetailWire Blog
July 15, 2010
CPG Manufacturers Called to Innovate
FROM RETAILWIRE:
It's time for consumer packaged goods companies to move out of hunkering-down mode and get serious about product innovation. That's the gist of new research from the Grocery Manufacturers Association (GMA) and PricewaterhouseCoopers LLP. How do you define innovation in CPG terms and where do you see it taking place today?
MY COMMENTARY:
I give up. The same article that touts the need for innovation ends with this paragraph, hardly a reflection of innovation, probably a simple rephrasing of Philip Kotler's missive from way back when. Read it and understand why we don't see innovation from companies counseled with words such as these. Not to say that these words are no longer true, but rather this is what marketers should always be doing to stay ahead of the competition. "According to the study, Forging Ahead in the New Economy, many CPG companies are looking to better understand consumer priorities to develop products and package sizes that meet the needs of shoppers. Tailoring products to local tastes, especially in emerging markets, is also seen as key to attaining wider distribution of products." |
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