Welch’s Shares its Blueprint for More than 150 Years of CPG Innovation Success
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New product innovation is the lifeblood of the consumer goods industry. Leading CPG companies like Welch’s – a food innovator since 1849 – must continuously improve existing products as well as introduce new products to the market if they are going to stay ahead in a competitive global marketplace.
According to recent research conducted by Consumer Goods Technology (CGT), nearly 40 percent of new products fail to meet profit objectives. With 30 percent of CPG revenue coming from products that were introduced in the past three years, an increase in just a few percentage points could have drastic improvements on profitability and product success rates.
In this exclusive CGT webinar, Christine Kwiat, Vice President of Innovation for Welch’s, and Brad Eby, CPG Director of Business Development for Sopheon, will examine the full results of this new research and share how CPG leaders can increase the effectiveness of their new product innovation and launch strategies.
We will discover and discuss:
- Why new products fail to meet revenue projections
- How to overcome common challenges CPG companies face when innovating and launching new products
- How new project management strategies can take product launches from concept to profit
- How CPG leaders can implement a more structured, efficient, and process-independent approach to product innovation