One of my best friends, Rosa Seidenwar, is a pastry chef, food photographer, and stop motion artist. This gives me many perks, especially when a new recipe is in the works and I get called upon for my taste testing skills. Yes, it’s a tough job, but someone’s got to do it. As I nibbled, taking in all the flavors and textures, I couldn’t help but marvel. Even with the colossal amount of food items, recipes, cookbooks, food blogs, food shows, restaurants, delivery methods (did I leave anything out?) – people are still able to come up with something new! And what’s more, consumers aren’t ready to say – Thank you! We have enough! In fact, according to a study by NielsenIQ, a third of Americans are actively looking for new products to try. Which makes product innovation still a lead runner for food corporations, as opposed to, say, taking a year off and just focusing on productivity (same study states that 30,000 new products are launched each year in the consumer packaged goods industry). Having worked with food corporations in the past and seeing their modes for launching innovations, I was curious to also hear Rosa’s take, as representing the personal brands rising in the industry.
So if food innovation is your bread-and-butter, here are five drivers that keep product innovation going at such an intensity:
So which is the biggest driver for you? The upside is, these drivers are very much connected. Ingredients can lead to products that establish behaviors. Behaviors can influence which ingredients are used. Technology can feed into trends that lead to products, and so forth. So once you get yourself onto one, you can always follow the arrows to the other. But your “Secret Sauce”? No one can follow that but you.
Innovation is a skill, not a gift. Top organizations drive growth by nurturing and investing…
Are you in the world of problem solving? Is problem solving a skillset you have…
5 Data-Driven, Customer-Centric trends we’ve identified This is not just another conventional forecast. Over nearly…
Imagine a chef, who only uses a spoon. Imagine a dentist, who only uses a…
In investing and business strategy, we often speak in terms of moats. Warren Edward Buffett…
This year, P&G’s Febreze celebrates its silver anniversary as a brand. But not all 25…