Harnessing New Product Innovation's Power to Build Brands and Drive Organic Growth

Untold billions of dollars are spent annually by consumer goods companies to develop marketable brand preferences that will entice consumers. The benefits of new products and line extensions have become the financial justification for spending that capital on building brand equity. Yet despite these investments, brand erosion has become the norm, with consumers far less "brand loyal" than ever before.

Additionally, private label and competitive products have taken a huge step in recent years, offering consumers viable, quality alternatives at lower cost. As such, it becomes paramount for leading consumer products companies to develop unique new products and line extensions much more quickly, efficiently and cost-effectively, all the while protecting their intellectual property (IP). New product innovation, therefore, becomes an increasingly important focus.