Future innovation - d3hip0cp28w2tg.cloudfront.net...• Design Sprints - 1 week/multiple iterations...

20th November 2018 – Slide 1

Future innovationSuccess Strategies of Leading Food, Beverage & Ingredient Companies

London20th November 2018

20th November 2018 - Slide 2

Our World is Changing: The Way We Shop


Our World is Changing: The Way We Eat “Out”


Our World is Changing: The Way We Choose Where to Eat


Our World is Changing: The Way We Buy of Food


Our World is Changing:


How is This Impacting Food & Beverage Markets?

• With the growth of alternative delivery channels, it has never been easier to launch a newproduct but it has never been more difficult to make the launch a success

• 10000 new products are launched each year in US supermarkets – 70% are withdrawn duringthe first year and 90% by Year-3

• 84% of global executives consider innovation to be important, 94% are dissatisfied with theirown company’s performance in innovation

• More and more food producers expect their suppliers to be more than a reliable source ofingredients or technology – Unilever, for example, asks ingredient suppliers to provideconsumer data and example formulations to support new functional ingredients

• 42% of executives say product development times are too long and 71.8% of companies nowuse rapid testing as part of their development process

• Retail is changing – online sales have tripled since 2012, in the US the number of conveniencestores has increased by more than 50% over the last 30 years, the share of hyper andsupermarkets is forecast to decline from 70% in 2017 to 50% in 2025 and average store sizeto fall by 35% over the next 10 years


How will Changing Markets Influence Product Innovation?


The Way We Innovate is ChangingRadical Innovation vs. Sustaining Brands

OR


The Way We Innovate is ChangingWhere are the Consumer’s ‘Pain-Points’?


The Way We Innovate is ChangingJob-to-be-Done


The Way We Innovate is ChangingStart-Up Thinking – Focus on Solving ONE problem


The Way We Innovate is ChangingMulti-Functional – Innovation is Everyone’s Responsibility

TO


The Way We Innovate is ChangingOutside the Walls – Collaboration Up & Down the Value Chain

Supplier

Producer

Customer


Doing the Right ThingsHow is YOUR Market Changing?


Doing the Right Things

What is the Job-to-be-Done? Where are the Pain-Points?• Product Service• Mass Market Made-for-Me• Anonymous Belonging (My Tribe)

Design Thinking – Observing what do consumers really do/need!


Doing the Right ThingsSetting Priorities

Strategic Fit – do we want to go there?

Do we have: The Right-to-Play & The Right-to-Win?

Belief = Start-up Thinking


…in the Right WayOrganising for Success

• Radical Innovation vs. Sustaining Products: Different Jobs = Different Teams• Multi-Functional Innovation – especially for radical new developments

• Collective Intelligence - use ALL the expertise available• New skills: Designers, Anthropologists, Psychologists…..• Project Cells – focussed on specific innovations

• Look outside the walls – can we work with:• Start-ups

• Source of Ideas• Route-to-Market

• Suppliers• Flavour-houses• Packaging Suppliers

• Customers• Data from the market• Testing in selected outlets

• Open Innovation• Visible indicators/shared project space


…in the Right WayRapid Testing

• Do we like it? WOW or YUK?• Informal Testing Circuits – how would a Start-Up do it?• Design Sprints - 1 week/multiple iterations (remember the 80/20 rule!)• Minimum Viable Product (MVP)• The Voice of the Consumer (or Customer) is what matters• Sell-it – the ultimate test!

• On-line• Pop-up stores• Selected distribution partners…


Agile Innovation: OVERVIEWDoing the Right Things in the Right Way

What?Pain-points

Job-to-be-Done

Ethnographic Data (Design Thinking)

Right-to-Play AND Right-to-Win

How?Radical vs. Sustaining – Different Teams

Innovation is Everyone’s JobMulti-functional Teams

Collaboration Up & DownSuppliers & Customers

Rapid/Real-Life TestingStart-Up Thinking or Can we Sell It?

Visible Methods & Team-Space


Thank you for your attention

RW INNOVATION - Future Innovation

QUESTIONS?Contact: Russell Ward

Tel: +33 6 15 57 43 84E-mail: [email protected]

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