recentpopularlog in

jerryking : product_development   44

Brands Invent New Lines for Only Amazon to Sell WSJ
Jan. 25, 2019 | WSJ | By Annie Gasparro and Laura Stevens.

Amazon gets exclusive products, while brands receive faster customer feedback, marketing support and increased sales.......To build a big line of exclusive products on its site, Amazon.com Inc. AMZN 0.95% is pushing other brand manufacturers to do most of the work.

The online retail giant is asking consumer-goods companies to create brands exclusively for Amazon after finding that developing them on its own is too costly and time-consuming.....Amazon’s initiative is the latest example of the e-commerce giant flexing its muscles in order to offer the lowest prices and widest selection, as it seeks to cut into the market share of big-brand manufacturers.....Manufacturers generally benefit from selling their products through a range of retailers. Also, they risk cannibalizing higher-margin sales of their main brands by offering comparable products under different labels. But those entering deals with Amazon view the arrangement as a golden opportunity.

In exchange for creating exclusive products, the brands get help launching their products on Amazon.com, faster customer feedback when testing new products, marketing support, and, of course, revenue from the sales. They also can appear at the top of search results—a big draw given that Amazon’s platform lists an estimated 550 million items......Speed was paramount. “We had to take what would normally be 12 to 24 months of development to 90 days,”....Amazon, on its own, has been quietly adding to its in-house brands in recent years. Analysts estimate the site now offers more than 100. ....Amazon sometimes promotes its own brands higher in search results on its site, like “Amazon’s Choice” and sponsored items, or as default results in voice searches using Amazon’s Alexa virtual assistant.

In-house brands often generate a higher profit margin for retailers, including Amazon, and can draw in customers because they can’t find those brands elsewhere. But developing a new brand and formulating products takes time..... the program offers manufacturers a way to “launch brands and products directly to Amazon customers.”

Amazon is increasingly important for consumer-product manufacturers. It now accounts for roughly half of all sales online,.....Amazon’s program also can be used for “orphan brands” that manufacturers have stopped selling or that never made it to market.....Amazon has no issue going full-court press on private label, and pursuing all these brands. If the quality and pricing architecture don’t fit and they have to pivot, they’ll do so,” said Todd Mitchell, president of Compass Marketing Inc., which works with Amazon. “They’re not limited to the constructs of shelf space.”
accelerated_lifecycles  Amazon  brands  cannibalization  CPG  e-commerce  exclusivity  fast-paced  in-house  manufacturers  new_products  orphan_brands  private_labels  product_development  product_launches  shelf_space  speed 
january 2019 by jerryking
3G Capital’s rigorous diet of cost cutting is weighing down Tim Hortons owner RBI, Kraft Heinz
APRIL 18, 2018 | The Globe and Mail | by IAN MCGUGAN.

Tough, cost-conscious management is a vital ingredient at any good company. But right now, shareholders in Restaurant Brands International Inc. and Kraft Heinz Co. should be asking whether a lean and mean operating style is hitting its limits when it comes to peddling doughnuts and ketchup.

In recent months, RBI, the parent of Tim Hortons, and Kraft Heinz, maker of your favourite burger condiment, have disappointed investors....... the 3G approach is beginning to show some flaws. Critics argue that managers who focus on streamlining existing operations can create a temporary bump in earnings, but have less time to spend on product development, corporate innovation and brand building. The danger, skeptics say, is that efficiency increases but sales and earnings per share don’t.

“We harbor serious doubts about the management team’s ability to generate sufficient product innovation to grow its collection of ‘retro’ brands in highly commoditized categories,” Robert Moskow of Credit Suisse wrote this week in a report that downgraded Kraft Heinz to “underperform” status.....But softer measures suggest the profits are coming at a cost. Consider a survey of 1,501 Canadian adults published this week by Angus Reid Institute. Thirty five per cent of respondents said their opinion of Tim Hortons had worsened in recent years. While Tim Hortons’ advertising campaigns have tirelessly promoted the chain’s deep roots in Canadian communities, the reality on the ground appears to be shifting.

At Kraft Heinz, signs of stress are also becoming apparent, according to Mr. Moskow. The company’s Oscar Mayer cold cuts and Kraft natural cheese brands are losing market share to private labels, while Canadian retailers recently reduced their inventories, he said.

Employees may not be all that happy, either. Mr. Moskow said industry sources have expressed concern about growing turnover rates among Kraft Heinz staffers.
3G_Capital  Tim_Hortons  cost-cutting  product_development  innovation  Kraft_Heinz 
april 2018 by jerryking
Novartis’s new chief sets sights on ‘productivity revolution’
SEPTEMBER 25, 2017 | Financial Times | Sarah Neville and Ralph Atkins.

The incoming chief executive of Novartis, Vas Narasimhan, has vowed to slash drug development costs, eyeing savings of up to 25 per cent on multibillion-dollar clinical trials as part of a “productivity revolution” at the Swiss drugmaker.

The time and cost of taking a medicine from discovery to market has long been seen as the biggest drag on the pharmaceutical industry’s performance, with the process typically taking up to 14 years and costing at least $2.5bn.

In his first interview as CEO-designate, Dr Narasimhan says analysts have estimated between 10 and 25 per cent could be cut from the cost of trials if digital technology were used to carry them out more efficiently. The company has 200 drug development projects under way and is running 500 trials, so “that will have a big effect if we can do it at scale”.......Dr Narasimhan plans to partner with, or acquire, artificial intelligence and data analytics companies, to supplement Novartis’s strong but “scattered” data science capability.....“I really think of our future as a medicines and data science company, centred on innovation and access.”

He must now decide where Novartis has the capability “to really create unique value . . . and where is the adjacency too far?”.....Does he need the cash pile that would be generated by selling off these parts of the business to realise his big data vision? He says: “Right now, on data science, I feel like it’s much more about building a culture and a talent base . . . ...Novartis has “a huge database of prior clinical trials and we know exactly where we have been successful in terms of centres around the world recruiting certain types of patients, and we’re able to now use advanced analytics to help us better predict where to go . . . to find specific types of patients.

“We’re finding that we’re able to significantly reduce the amount of time that it takes to execute a clinical trial and that’s huge . . . You could take huge cost out.”...Dr Narasimhan cites one inspiration as a visit to Disney World with his young children where he saw how efficiently people were moved around the park, constantly monitored by “an army of [Massachusetts Institute of Technology-]trained data scientists”.
He has now harnessed similar technology to overhaul the way Novartis conducts its global drug trials. His clinical operations teams no longer rely on Excel spreadsheets and PowerPoint slides, but instead “bring up a screen that has a predictive algorithm that in real time is recalculating what is the likelihood our trials enrol, what is the quality of our clinical trials”.

“For our industry I think this is pretty far ahead,” he adds.

More broadly, he is realistic about the likely attrition rate. “We will fail at many of these experiments, but if we hit on a couple of big ones that are transformative, I think you can see a step change in productivity.”
adjacencies  algorithms  analytics  artificial_intelligence  attrition_rates  CEOs  data_driven  data_scientists  drug_development  failure  Indian-Americans  kill_rates  massive_data_sets  multiple_targets  Novartis  pharmaceutical_industry  predictive_analytics  productivity  productivity_payoffs  product_development  real-time  scaling  spreadsheets  Vas_Narasimhan 
november 2017 by jerryking
Stanford dropout with a magical touch
Jul 14, 2017 | Financial Times | by: Hannah Kuchler.

Evan Spiegel refuses to be scared of Facebook. Confidence helped the 27-year-old Snap chief executive take a photo messaging app from a Stanford University coursework project to an almost $20bn initial public offering. The threat of Facebook has been following all the way.

In 2013, when the company behind Snapchat was just two years old, its co-founder (his partner was a fellow student, Bobby Murphy) was quizzed on stage about Poke, Facebook’s first attempt at imitating the app’s photo messaging. “Certainly it is scary when a giant enters your space and you are a small company,” Mr Spiegel said at the TechCrunch Disrupt conference. He laughed it off: Poke failed, and that became the “greatest Christmas present we ever had”.

But the world’s largest social network does not give up and has relentlessly imitated Snapchat since Mr Spiegel turned down its $3bn acquisition offer in 2013. Earlier this year, just as Snap headed for the public markets, Facebook finally succeeded in popularising a version of “Stories” in four of its apps — the Snapchat feature that expires after 24 hours.......an unlikely analogy..... “Just because Yahoo, for example, has a search box, it doesn’t mean they are Google.”......Mr Spiegel, who dropped out of Stanford, was the first chief executive from a new wave of highly valued tech start-ups to brave the public markets. It paid off personally: he became a multi-billionaire when he took Snap public....Spiegel is soaking up advice “like a sponge” from senior management and the board, which includes Michael Lynton, former chief executive of Sony Pictures and AG Lafley, former chief executive of Procter & Gamble.....Praised as a product genius who instinctively understands the desires of his young audience, Mr Spiegel now has to learn to be a public company leader, managing the expectations of investors who want to compare Snap to Facebook and Mr Spiegel to Mark Zuckerberg......By designing the disappearing photos that made Snapchat famous, Mr Spiegel completely rethought the camera. Photos became transient conversations, not kept for posterity; social media became a way to be creative — and silly — with your close friends, not flick through a feed of near strangers.....Sir Martin Sorrell, chief executive of WPP, told the Financial Times it plans to double its spending to $200m on Snap this year. But, he added, WPP will spend over 10 times more on Facebook.

...
dropouts  Stanford  IPOs  Snap  Snapchat  CEOs  Evan_Spiegel  WPP  Martin_Sorrell  product_development  product-orientated  public_companies  investors'_expectations  10x 
july 2017 by jerryking
How to Avoid the Innovation Death Spiral | Innovation Management
By: Wouter Koetzier

Consider this all too familiar scenario: Company X’s new products developed and launched with great expectations, yield disappointing results. Yet, these products continue to languish in the market, draining management attention, advertising budgets, manufacturing capacity, warehouse space and back office systems. Wouter Koetzier explores how to avoid the innovation death spiral....
Incremental innovations play a role in defending a company’s baseline against competition, rather than offering customers superior benefits or creating additional demand for its products.
Platform innovations drive some market growth (often due to premium pricing rather than expanded volume), but their main function is to increase the innovator’s market share by giving customers a reason to switch from a competitor’s brand.
Breakthrough innovations create a new market that the innovator can dominate for some time by delivering new benefits to customers. Contrary to conventional wisdom, breakthrough innovations typically aren’t based upon major technological inventions; rather, they often harness existing technology in novel ways, such as Apple’s iPad.......A recent Accenture analysis of 10 large players in the global foods industry over a three-year period demonstrates the strategic costs of failure to innovate successfully. Notably, the study found little correlation between R&D spending and revenue growth. For instance, a company launching more products than their competitors actually saw less organic revenue growth. That’s because the company made only incremental innovations, while its competitors launched a balanced portfolio of incremental, platform and breakthrough innovations that were perceived by the market as adding value.
attrition_rates  innovation  howto  life_cycle  portfolios  Accenture  breakthroughs  platforms  LBMA  Mondelez  product_development  new_products  product_launches  kill_rates  incrementalism  R&D  taxonomy  disappointment  downward_spirals  baselines  marginal_improvements  correlations  moonshots 
march 2016 by jerryking
TMX’s Eccleston says Canadian exchanges need new technology - The Globe and Mail
The Globe and Mail
Published Wednesday, Dec. 03 2014

The new head of TMX Group Ltd. says the stock exchange company needs to diversify and develop new technology products to help counter the impact of Canada’s highly cyclical commodity-dominated markets...“What we can’t do is simply let them all sit as totally separate entities,” he said. “They all run as verticals. But the challenge is how do you take those things and understand how to use the capabilities to create more integrated solutions that give you some competitive advantage?”...he needs to create a strategy for a portfolio of TMX businesses.

“I think it’s time to start thinking about TMX as not a group of exchanges and clearing businesses, but really a very strong technology-based organization that happens to manage exchanges, clearing businesses, risk-management business, data businesses and a number of other things,” he said.
TMX  Lou_Eccleston  product_development  stockmarkets  first90days  trading_platforms  bourses  Bay_Street  capabilities  competitive_advantage  diversification  new_products  portfolio_management  systems_integration 
december 2014 by jerryking
Loblaw targets food-savvy Canadians in major marketing overhaul - The Globe and Mail
SUSAN KRASHINSKY - MARKETING REPORTER
TORONTO — The Globe and Mail
Published Wednesday, Sep. 17 2014

Loblaw has partnered with Google Inc. to build a “food pulse index,” which will track online conversations about food across Canada. It will publish the results on a regularly updated map on the corporate website, which will show food trends by region.

And the content on the site and on Loblaw’s social media channels will be determined by what people are talking about. If beets are a hot topic, for example, the retailer will serve up images, recipes, polls and information about the root vegetable. If people are wondering about gluten-free Thanksgiving meals, Loblaw will respond.

The Google trends will influence not just marketing, but also product development at the retail giant.
Susan_Krashinsky  Loblaws  marketing  branding  brands  Google  product_development  trends 
october 2014 by jerryking
Evernote brings chat and news stories to its note-taking app - CNET
@sarahmitroff 2 October 2014
At the company's developer conference, Evernote adds a few new features to its note-taking system, including chat and contextual connections.

With Work Chat, you can chat in real-time within Evernote, with the people you work with inside the system, or anyone else who uses Evernote. Libin says this has been the most requested feature from users.

You can share messages, links, notes and even complete notebooks in chat. You can also see when multiple people are looking at the same note at the same time, and then chat with them about that note. The idea is that instead of using an outside chat client, you can simply communicate inside Evernote without leaving the system.
Evernote  product_development 
october 2014 by jerryking
From healthy fries to segways: Why most products fail - The Globe and Mail
SUSAN KRASHINSKY - MARKETING REPORTER
The Globe and Mail
Published Thursday, Sep. 18 2014,

The vast majority of new product launches end up failing.

In fact, 72 per cent of new products are failures, according to a global study released by Bonn, Germany-based marketing consultancy Simon-Kucher & Partners. The firm surveyed 1,615 managers in 40 countries. It found that most newly launched products fail to meet their profit targets “because companies neglect or ignore essential pricing and marketing activities in their new product development processes.”.... set aside a budget for research to measure customer demand for the product, as well as what people are willing to pay for it......So many products are launched that haven’t established basic things, such as research into the need of the product, the efficacy of the product, testing the product with consumers,”

marketing a new product:

1. Is there a market for the product?
2. Can you own the name?
3. Do you have data that prove the idea has merit?
4. Do you have a credible, knowledgeable spokesperson who can talk about the product?
5. Have consumers or customers used the product and will they talk about their experience (hopefully positively)?
6. Have you had everyone you are talking to sign an NDA (non-disclosure agreement)?
7. Can you identify a third party who can corroborate that the world needs this product that will go on record?
8. How long will it take to manufacture the product and will you meet the deadline for the market (season, trade show, holiday)?
9. Do you have money to capitalize the manufacturing and launch of the product?
10. Do you have a business plan and a budget?
11. What is your day job and can you do both?
attrition_rates  stage-gate  failure  marketing  Susan_Krashinsky  new_products  product_development  products  product_launches  kill_rates 
september 2014 by jerryking
Sponsor Generated Content: 4 Industries Most in Need of Data Scientists
June 16, 2014 12:00 am ET
4 Industries Most in Need of Data Scientists
NARRATIVESby WSJ. Custom Studios for SAS

Agriculture
Relying on sensors in farm machinery, in soil and on planes flown over fields, precision agriculture is an emerging practice in which growing crops is directed by data covering everything from soil conditions to weather patterns to commodity pricing. “Precision agriculture helps you optimize yield and avoid major mistakes,” says Daniel Castro, director of the Center for Data Innovation, a think tank in Washington, D.C. For example, farmers traditionally have planted a crop, then applied fertilizer uniformly across entire fields. Data models allow them to instead customize the spread of fertilizer, seed, water and pesticide across different areas of their farms—even if the land rolls on for 50,000 acres.

Finance
Big data promises to discover better models to gauge risk, which could minimize the likelihood of scenarios such as the subprime mortgage meltdown. Data scientists, though, also are charged with many less obvious tasks in the financial industry, says Bill Rand, director of the Center for Complexity in Business at the University of Maryland. He points to one experiment that analyzed keywords in financial documents to identify competitors in different niches, helping pinpoint investment opportunities.

Government
Government organizations have huge stockpiles of data that can be applied against all sorts of problems, from food safety to terrorism. Joshua Sullivan, a data scientist who led the development of Booz Allen Hamilton’s The Field Guide to Data Science, cites one surprising use of analytics concerning government subsidies. “They created an amazing visualization that helped you see the disconnect between the locations of food distribution sites and the populations they served,” Sullivan says. “That's the type of thing that isn't easy to see in a pile of static reports; you need the imagination of a data scientist to depict the story in the data.”

Pharma
Developing a new drug can take more than a decade and cost billions. Data tools can help take some of the sting out, pinpointing the best drug candidates by scanning across pools of information, such as marketing data and adverse patient reactions. “We can model data and prioritize which experiments we take [forward],” Sullivan says. “Big data can help sort out the most promising drugs even before you do experiments on mice. Just three years ago that would have been impossible. But that's what data scientists do—they tee up the right question to ask.”
drug_development  precision_agriculture  farming  data_scientists  agriculture  massive_data_sets  data  finance  government  pharmaceutical_industry  product_development  non-obvious  storytelling  data_journalism  stockpiles 
june 2014 by jerryking
Ad executive Winston Binch preaches the importance of invention - The Globe and Mail
May. 15 2014 | The Globe and Mail | SUSAN KRASHINSKY - MARKETING REPORTER.

Q: You spoke about the way advertising is migrating more toward inventing things – a big trend for advertisers looking to get noticed.

A: Agencies have been making products for a long time. Alcohol brands have been invented by plenty of agencies, for example. But it used to be an idea and you’d outsource the production. What’s different now is a lot more of it is technology, it’s digitally based. That requires new people in the building. ... There’s a lot of talk about invention right now in advertising. It’s startup culture."....The difficult thing is selling [invention/innovation] to clients. A lot of our clients all know they need to do it, and they want to, but it’s hard to find room for it given the demands of their businesses, particularly the Fortune 500s. ... They’re more concerned with short term than long term. Innovation is seen as a long-term thing. And also hasn’t been in marketing organizations; usually IT, product design and R&D, not the marketing side. How do we sell more invention products to our clients?
Susan_Krashinsky  inventions  advertising  advertising_agencies  hard_to_find  data_driven  digital_media  long-term  innovation  ideas  storytelling  experimentation  Fortune_500  product_development  large_companies 
may 2014 by jerryking
Intel’s Sharp-Eyed Social Scientist
FEB. 15, 2014 | NYT |By NATASHA SINGER.

Dr. Bell’s title at Intel, the world’s largest producer of semiconductors, is director of user experience research at Intel Labs, the company’s research arm. She runs a skunk works of some 100 social scientists and designers who travel the globe, observing how people use technology in their homes and in public. The team’s findings help inform the company’s product development process, and are also often shared with the laptop makers, automakers and other companies that embed Intel processors in their goods.
Intel  UX  anthropologists  semiconductors  observations  product_development  ethnography  consumer_research  anthropology  automotive_industry  laptops  social_science 
february 2014 by jerryking
What is good for a business isn’t necessarily good for the country
Aug. 27 2013 | The Globe and Mail |CHRISTOPHER RAGAN
...Most non-economists probably think economics and business are the same. But anyone who has studied economics knows they are very different. Having done so for about 30 years, I am very comfortable thinking about how markets work, how they often fail to function effectively and how various government policies affect their operation. But I readily admit to having no expertise about product development, marketing campaigns, distribution networks or managing employees.

I only wish more business people admitted to having the opposite ignorance. People successful in their businesses obviously know a lot about running their own companies and dealing with their unique competitive challenges. But many of them believe their business acumen extends to the broader economy. They suffer from the misconception that what is good for their business is good for the country as a whole. And this is where they are terribly wrong.... Adam Smith was crystal clear about business interests, writing in 1776 that “people of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”...Fortunately for us, [James Moore] understands the difference between business interests and the national interest.
Adam_Smith  business_acumen  business_interests  businessman_fallacy  delusions  economics  humility  misconceptions  marketing  national_interests  policymaking  pro-business  product_development  rent-seeking  self-interest 
november 2013 by jerryking
Twitter's Lucrative Data Mining Business - WSJ.com
October 6, 2013 | WSJ | By ELIZABETH DWOSKIN.

Twitter's Data Business Proves Lucrative
Twitter Disclosed It Earned $47.5 Million From Selling Off Information It Gathers

Twitter's data business has rippled across the economy. The site's constant stream of experiences, opinions and sentiments has spawned a vast commercial ecosystem, serving up putative insights to product developers, Hollywood studios, major retailers and—potentially most profitably—hedge funds and other investors....Social-data firms spot trends that it would take a long time for humans to see on their own. The United Nations is using algorithms derived from Twitter to pinpoint hot spots of social unrest. DirecTV DTV +0.99% uses Twitter data as an early-warning system to spot power outages based on customer complaints. Human-resources departments analyze the data to evaluate job candidates....While estimates of the market value of the social-data industry are hard to come by, one research firm, IDC, estimates that the entire "big data" market has grown seven times as quickly as the information technology sector as a whole. It may be valued at $16.9 billion in two years....Each social-data firm boasts proprietary dating-mining tools that go beyond basic keyword searches. Some can zoom in on a subset of people—say, women in a certain ZIP Code—and monitor phrases that show emotion. Then they can create a heat map or a sentiment score that measures how that subset feels about a topic. They have trained natural language processing algorithms to look at slang and broken grammar and to highlight tweets that indicate urgency because of words like "BREAKING."

"We don't just count the volume of these trends. That's naïve," says Nova Spivak, CEO of the Los Angeles-based firm Bottlenose. Rather, his firm looks at the momentum of trends....Many smaller analytics startups are now turning to four companies that Twitter has dubbed "certified data resellers." These brokers, Gnip, Data Sift, Topsy and the Japanese firm NTT Data, 9613.TO -2.04% account for the bulk of Twitter's data revenue. Last year, they paid Twitter monthly fees of about $35.6 million.

Twitter's exponential growth has meant its influence extends well beyond marketing and crisis PR. Nonprofits, human-resource managers and politicians have found Twitter data useful, too.
data  data_mining  Twitter  massive_data_sets  sentiment_analysis  product_development  social_media  social_data  Gnip  Data_Sift  Topsy  NTT_Data  Bottlenose  NLP  hotspots  UN  human_resources  insights  Hollywood  hedge_funds  momentum 
october 2013 by jerryking
How foodies influence the things we eat - The Globe and Mail
Aug. 27 2013 | The Globe and Mail | SUSAN KRASHINSKY.

Foodies’ impact on the industry has never been greater. “Particularly over the last five years, we’ve seen a real, dramatic shift in consumer behaviour as it relates to food,” says Robert Carter, executive director of food service at NPD, a market research company,...Taking on the mantle of a foodie brand means that already food-obsessed product developers have to work harder to stay on top of the trends than ever before. And at the same time, they have to be careful not to jump on every bandwagon – it’s a fine balance between finding the next hot item and becoming too niche.

To draw inspiration, they go where the foodies are. That means eating out in restaurants regularly and attending food shows. But it goes even farther; most trends are informed by international cuisine, and so Loblaws developers spend a lot of time on planes....Geoff Wilson, president of food-service consulting firm FSstrategy.
Loblaws  foodies  Susan_Krashinsky  management_consulting  food  product_development 
october 2013 by jerryking
Why empathy is an economic necessity - The Globe and Mail
TODD HIRSCH

Special to The Globe and Mail

Published Wednesday, Aug. 14 2013

The world is full of wonderfully engineered, but poorly designed products – with no eye for how the average person might use it. This highlights a certain quality that isn’t taught in business schools but can make a huge difference for companies developing new products: empathy.

Empathy is the ability to see the world through someone else’s eyes. It’s far more than just being a nice person. If properly developed, empathy can give you and your company a distinct competitive edge. Negotiating a contract, dealing with workplace conflicts, coming up with a marketing campaign, or dreaming up the next must-have consumer gadget all require the ability to see the world through eyes that aren’t your own.

Sadly, managers and human resource departments too often neglect the interpersonal skills that are so essential to achieving results. Along with other aptitudes such as story-telling and creativity, empathy is underappreciated by many in the corporate board room. The fact that we even call them “soft” skills implies that they’re less important....The ability to see the world through the eyes of others is an economic imperative. If empathy were given the attention it deserves, companies would find new ways to please their customers. Innovators would dream up systems that save time and money. Conflicts would be resolved more easily. And maybe – just maybe – engineers would design products that are simple to use.
empathy  product_development  design  skills  storytelling  Todd_Hirsch  UX  usability  competitive_advantage  under_appreciated  people_skills  new_products  interpersonal_interactions  soft_skills  delighting_customers  product_design  economic_imperatives  must-have_experience 
august 2013 by jerryking
Google unleashes torrent of product upgrades -
May. 15 2013| The Globe and Mail | OMAR EL AKKAD. - TECHNOLOGY
Google  Omar_el_Akkad  product_development 
may 2013 by jerryking
The Science of Serendipity
Q3 · 2011 | Think Quarterly by Google | WORDS BY Dave Allan, Matt Kingdon. The co-founders of ?WhatIf!, the world’s largest independent innovation company, explain how.

The best innovation leaders are good at asking questions that help make an idea real: what does it weigh? Can I put it in my pocket? What will be the consumer’s experience? What will they stop buying when they switch to our product?

One client of ours wanted to cut the time and expense of launching a new restaurant. They had budgeted $3m and several months. We took $150,000 and in three days had a pop-up restaurant running. We made plenty of mistakes, but we made them fast and cheap and we learned things that saved our client time and money.
innovation  serendipity  pop-ups  buyer_choice_rejection  restaurants  customer_experience  product_development  cheap_revolution  product_launches  questions  Michael_McDerment 
april 2013 by jerryking
Bolthouse Farms Unveils Innovation Center - Yahoo! Finance
Bolthouse Farms – Wed, Jan 16, 2013

Bolthouse Farms unveiled its state-of-the-art, Innovation Center today at the company's headquarters in Bakersfield, CA. The facility is designed to accelerate new product development and enhance current Bolthouse Farms offerings across the company's portfolio of beverages, salad dressings and fresh carrots. The Innovation Center will integrate marketing and research to create new products intended to help consumers make healthy food choices.
Bolthouse_Farms  innovation  fresh_produce  product_development  new_products  accelerators 
january 2013 by jerryking
Canada's food producers relish taste of success
Sep. 06 2012 | The Globe and Mail | by TAVIA GRANT

Toronto - now the second-largest food producer in North America after Chicago - has developed a comprehensive food plan. In May, Ontario unveiled a food-cluster strategy that aims to attract global investment and promote Canadian products overseas. This fall, the province will open an institute of food-processing technology that will eventually host 500 full-time students. The Conference Board is working on a national framework for the food industry and the Canadian Agri-Food Policy Institute is also working on policy.

It's a promising source of employment. Making a chicken nugget or pre-made Caesar salad, for example, typically needs more people than making a car part. Wages also tend to be higher - jobs in the industry yield wages that are on average 25 per cent higher than the national average, the industry says.

Food-innovation centres are springing up across Canada with government and university backing, from Charlottetown's smart kitchen to Burnaby's agri-food centre. They frequently function as labs that bridge researchers, students and the private sector.

Guelph's food-technology centre is used by companies such as Italpasta Ltd. and McCain Foods to test out new ideas and combine new types of ingredients. One room, a cross between a giant kitchen and mad-science lab, tests new types of cheeses and ice creams.

The centre also helps companies identify new trends. Karen McPhee, manager of product-development services, rattles off several shifts: sodium-reduced food, gluten-free products and simpler, more natural ingredients. Food is being viewed as medicine, she says, with more products that promise Omega 3s, antioxidants or probiotics.

The sector faces its share of headwinds. Like other manufacturers, a strong currency and volatile energy prices are causing headaches, and it has smaller economies of scale than many counterparts.
Tavia_Grant  food  honeybees  manufacturers  food_tech  niches  Toronto  clusters  innovation  agribusiness  foodservice  Guelph  economies_of_scale  probiotics  product_development  Canada  Canadian 
december 2012 by jerryking
Gain a competitive edge by preventing recalls
Aug 2003 | Quality Progress pg. 41.| Tavor White & Renata Pomponi.

Product recalls are a serious problem for consumer products companies. A conservative estimate indicates each recall costs more than $8 million on average to the company in reimbursement to consumers, recall execution costs and compensatory damages from litigation. This translates into a cost of more than $6 billion a year to the consumer products industry. The estimate does not include lost sales due to reduced marketplace credibility and lost market share. Companies can sharply reduce product safety risk and the number of recalls by implementing best practices to improve product safety and quality. Consumer products companies are under intense pressure to commercialize new products as quickly as possible. This pressure to get products out quickly means safety checks and balances are often overlooked. Consumer products companies can adopt both preventive and proactive practices to sharply reduce product safety risk and resultant costs. Some companies apply these practices and manage safety issues well enough to use their safety record and high quality as a competitive advantage. These companies have institutionalized best practices and achieved impressive results...If rushing a product to market before it is ready results in a costly product recall, however, then the decrease in time to market comes at the expense of time to profitability-a more meaningful measure....In fact, our root cause analysis of product recalls found more than 75% can be traced back to shortcomings in product development.
ProQuest  product_recalls  root_cause  product_development  competitive_advantage  checks_and_balances 
june 2012 by jerryking
Apple to unveil two versions of next-generation iPad in January, sources claim
Yenting Chen and Ingrid Lee, Taipei; Jessie Shen, DIGITIMES [Thursday 29 December 2011]
ipad  Apple  product_development 
december 2011 by jerryking
Technology Devices Either Sell Big or Die Fast - NYTimes.com
August 23, 2011 | NYT | By JENNA WORTHAM & VERNE G.
KOPYTOFF. In recent years, technology companies have been cutting their
losses with increasing speed...These days, big technology companies —
particularly those in the hypercompetitive smartphone and tablet
industries — are starting to resemble Hollywood film studios. Every
release needs to be a blockbuster, and the only measure of success is
the opening-weekend gross. There is little to no room for the sleeper
indie hit that builds good word of mouth to become a solid performer
over time. ...this accelerated lifecycle of high-end hardware is being
described as “Darwinian.” ...Companies kill new products more quickly
now because of the higher cost of staying competitive, ..The crush of
tech bloggers and Twitter-using early adopters .. raises the stakes
around how well new products perform in the marketplace...One needs
everything in place: the content, the applications and the
experience--to have a reasonable chance at success.
attrition_rates  product_launches  speed  product_development  hits  blockbusters  winner-take-all  accelerated_lifecycles  social_media  kill_rates  new_products  Jenna_Wortham  Darwinian 
august 2011 by jerryking
Executive Learns From Hack - WSJ.com
JUNE 21, 2011 By EVAN RAMSTAD.

• Trust the authorities.
• Stay open and transparent."
• Learn IT and know where vulnerabilities are. "These days, the CEO
should understand the basic structure of hacking even though he cannot
do programming. A CEO has to make tradeoffs and organizational
decisions.
• Create a philosophy that drives IT decisions. "Up to a few years ago,
the hacking route was very simple. But these days, there are so many
holes. Smartphone applications, so many websites … so the CEO has many
decisions to make.
• Reassess plans for products and services. Understand that each
application creates a new route for hacking. The real cost is not the
development cost. It's also the cost of hacking exposure.
Hyundai  South_Korea  blackmail  consumer_finance  IT  lessons_learned  cyber_security  product_development  product_management  hacks  data_breaches  vulnerabilities  new_products  hidden  latent  tradeoffs  CEOs 
june 2011 by jerryking
The Importance of Frugal Engineering
May 25, 2010 | Strategy + Business | by Vikas Sehgal, Kevin
Dehoff, and Ganesh Panneer. Providing new goods and services to “bottom
of the pyramid” customers requires a radical rethinking of product
development. Frugal engineering is not simply low-cost engineering. It
is not a scheme to boost profit margins by squeezing the marrow out of
suppliers’ bones. It is not simply the latest take on the decades-long
focus on cost cutting.Cost discipline is an intrinsic part of the
process, but rather than simply cutting existing costs, frugal
engineering seeks to avoid needless costs in the first place. Frugal
engineering, addresses the billions of consumers at the bottom of the
pyramid who are quickly moving out of poverty in China, India, Brazil,
and other emerging nations.
innovation  C.K._Prahalad  Bottom_of_the_Pyramid  product_development  Tata  BRIC  low-cost  emerging_markets  trickle-up  reverse_innovation  jugaad  frugality  cost-cutting  supply_chain_squeeze 
august 2010 by jerryking
The Mimrans: simple, clean and modern style
Aug. 13, 2010 | The Globe and Mail | Marina Strauss Retailing Reporter
Marina_Strauss  Mimran  product_development  HBC  Loblaws 
august 2010 by jerryking
Vijay Govindarajan Pins Future Growth on Reverse Innovation
October 6, 2009 | — World Business Forum — Presented by Shell |
Vijay GovindarajanTo tap opportunities in emerging markets, companies
must excel at “reverse innovation”: develop products in countries like
China and India and then distribute them globally. Why? The fundamental
driver of reverse innovation is the income gap that exists between
emerging markets and the developed countries....Established automakers
are missing the opportunity. They have chartered their innovation
efforts for rich countries — and then offered the same cars, perhaps
de-featured to reduce costs somewhat, in poor countries....Yet far more
is at risk than missed opportunities for growth. Increasingly, success
in the developing world is a prerequisite to continued vitality at home.
In the transformed economic landscape, reverse innovation is not
optional — it is oxygen.
reverse_innovation  gurus  Vijay_Govindarajan  Bottom_of_the_Pyramid  product_development  China  India  missed_opportunities  de-featured  automotive_industry  emerging_markets  developed_countries  jugaad  developing_countries 
may 2010 by jerryking
Why focus groups tell you the obvious
Mar 24, 2010. | Financial Times. pg. 14 | Luke Johnson. Great
breakthroughs in fields such as new product development are frequently
achieved by avoiding surveys and committees altogether. Constant testing
can lead to blandness and safety-first choices. In creative affairs,
corporate brainstorming sessions usually end up with groupthink
dullness, all originality squeezed out because of the fear of failure or
through the influence of office politics. As Steve Jobs said: "It's
really hard to design products by focus groups. A lot of times, people
don't know what they want until you show it to them."
ProQuest  Luke_Johnson  research_methods  product_development  surveys  market_research  breakthroughs  moonshots  Steve_Jobs  unarticulated_desires 
april 2010 by jerryking
Brand development versus new product development: toward a process model of extension decisions
1997 | The Journal of Product and Brand Management. Vol. 6, Iss. 4; pg. 222 | by Ambler, Tim, Styles, Chris.
ProQuest  product_development  failure  branding 
april 2010 by jerryking
Creating A Killer Product
10.13.03 | Forbes Magazine | by Clayton M. Christensen & Michael E. Raynor.

Three in five new-product-development efforts are scuttled before they ever reach the market. Of the ones that do see the light of day, 40% never become profitable and simply disappear.

Most of these failures are predictable--and avoidable. Why? Because most managers trying to come up with new products don't properly consider the circumstances in which customers find themselves when making purchasing decisions. Or as marketing expert Theodore Levitt once told his M.B.A. students at Harvard: "People don't want to buy a quarter-inch drill. They want a quarter-inch hole." ...Managers need to segment their markets to mirror the way their customers experience life--and not base decisions on irrelevant data that focus on customer attributes. Managers need to realize that customers, in effect, "hire" products to do specific "jobs."...Why not put in tiny chunks of real fruit to add a dimension of unpredictability and anticipation--attacking the boredom factor. A thicker shake would last longer. A self-service shake machine that could be operated with a prepaid card would get customers in and out fast.

Improvements like this would succeed in building sales--but not by capturing milk shake sales from competing quick-service chains or by cannibalizing other products on its menu. Rather, the growth would come by taking business from products in other categories that customers sometimes employed, with limited satisfaction, to get their particular jobs done. And perhaps more important, the products would find new growth among "nonconsumers." Competing with nonconsumption often offers the biggest source of growth in a world of one-size-fits-all products. ...One option would be for RIM to believe its market is structured by product categories, as in: "We compete in handheld wireless devices." WRONG!!!!!!!!!!!!!...But what if RIM structured the segments of this market according to the jobs that people are trying to get done? Just from watching people who pull out their BlackBerrys, it seems to us that most of them are hiring it to help them be productive in small snippets of time that otherwise would be wasted, like reading e-mails while waiting in line at airports....Features that do not help customers do the job that they hire the BlackBerry for wouldn't be viewed as improvements at all. ...Brands are, at the beginning, hollow words into which marketers stuff meaning. If a brand's meaning is positioned on a job to be done, then when the job arises in a customer's life, he or she will remember the brand and hire the product. Customers pay significant premiums for brands that do a job well.
Clayton_Christensen  Michael_Raynor  Innosight  prepaid  innovation  market_segmentation  customer_experience  arms_race  branding  product_development  education  Colleges_&_Universities  Theodore_Levitt  disruption  new_products  customer_segmentation  observations  nonconsumption  hiring-a-product-to-do-a-specific-job  one-size-fits-all  BlackBerry 
september 2009 by jerryking
No time like bankruptcy for squeezing competitors
July 13, 2009 |The Globe & Mail | George Stalk Jr.

In bankruptcy, your competitor's major issue is a shortage of cash - which is what led it into bankruptcy in the first place. Take advantage of it.

You can put pressure on that shortage by further straining your rival's ability to generate cash, or boost the cash it needs to run its business, forcing your competitor to yield market share, customers, product and service offerings. It is fight versus flight for the bankrupt competitor.

How to raise the cash ante? Consider some of the following tactics:

Introduce extended terms. Offer your competitors' customers longer payment terms. Your rival will either lose the business of customers that bite, or be forced to do the same, thus reducing its ability to generate much-needed cash.

Consignment pricing, where the customer pays only after the product is sold, is the ultimate extended term and will be difficult for a competitor in bankruptcy to match.

Boost marketing expenditures. Raising your advertising and point-of-sale spending will have a similar effect: Either your competitor will also have to spend more, or risk losing customers that you attract.

Lengthen the "tail" of the revenue stream. Add more after-sale services and spiffs - if your competitor has to do the same, it will raise the cash costs of getting and keeping customers.

Launch more products. New product development and introduction eats up a lot of cash - and a cash-short competitor is unlikely to be able to do the same. If you go all out, introducing many more new products than a bankrupt competitor possibly can, you could make your rival's offering obsolete in the minds of customers, forcing it into fire sales in a panic to raise cash.

Pursue your competitor's most profitable customers (perhaps identified via geofencing). Good management teams know where their company makes and doesn't make money. Great management teams know this about their competitors.

This insight can be used to target customers, geography, products and services of the bankrupt competitor to gain market share.

The competitor will be hesitant to counter your move against its most profitable customers because it needs the cash these customers generate. It will be more likely to maintain the status quo with these customers in the hopes the cash will keep coming.

Lawsuits. Now is the time to file the lawsuit you've always wanted to. Your bankrupt competitor will not have the discretionary resources to fight and will likely come to terms quickly.

There are also broader strategies to consider. Among them:

Sell against the competitor. When companies are in trouble, customers may worry that they won't be around to service products or provide future upgrades.

This fear can be a powerful weapon: These customers may be persuaded to take their business to companies on a sounder footing.

Go after the best talent (poaching). Anxiety about the plight of the competitor will be just as rampant among your rival's employees and suppliers as it is among customers. You can leverage that angst by going after top talent and strong suppliers - and offer terms and conditions that your competitor will have a tough time matching.

Force the sale of attractive assets held by your bankrupt competitor. A competitor in protection is not its own boss. The creditor committee is likely to care more for the cash it can get from an asset sale than who buys the assets.
bankruptcies  BCG  competition  competitive_advantage  consignment_pricing  geofencing  George_Stalk_Jr.  hardball  lawsuits  marketing  new_products  offensive_tactics  poaching  product_development  supply_chain_squeeze  tough-mindedness 
july 2009 by jerryking
The new networking
March 19, 2009 | The Globe and Mail| DIANA MCLAREN

The new networking
Word-of-mouth is getting a new twist, as social networking technology means online chatter can make or break a product
Web_2.0  social_networking  product_development  social_media 
march 2009 by jerryking
The New Focus Groups: Online Networks - WSJ.com
Jan. 14, 2008 WSJ article by Emily Steel on how online communities are being cultivated as tools for consumer market research.
market_research  consumer_research  Web_2.0  social_networking  product_development 
january 2009 by jerryking
globeandmail.com - Taking ideas to market: an insider's view
Oct. 16, 2007 G&M article by Charles Finlay profiling Avanindra Utukuri, president and CTO of Nytric Ltd.
product_development  business_development  ideas  manufacturers  innovation  Nytric  monetization  commercialization 
january 2009 by jerryking

Copy this bookmark:





to read