Tuesday, October 6, 2009
It's not uncommon to still see newly launched products that simply lack the stature to survive even a year... Why is that? How come so many companies still embark on costly NPD programmes when all that results is a very weak product launch or 'me-too' competitor copy. Well, I'm certainly aware that many companies think that it's enough to ensure that they can offer a higher margin to the retailers to ensure commercial success. Well, be sure that the consumers will tell you otherwise... Just wait. The truth is of course that retailers are very powerful indeed. However, be aware that their power lasts only until your products are put on their shelves. Be sure that if consumers or shoppers don't like your product then, the retailers won't either. And that is no matter how high margins and how many rapid starts you offer them. The smart retailers want to see you not only offering them their margins but also a commercially powerful product that will survive over time. So, embark on your innovation process with consumers in mind. If you can WOW consumers, you can WOW retailers too.