Powering innovation-led growth
New products and services are the lifeblood of successful businesses – and yet over 80 percent of new products fail. Even successful launches do not always result in top-line growth.
At TNS we understand that the incremental potential of an idea is what matters most. Cannibalisation destroys value and is a particular risk for line extensions, the most frequent form of product launch.
Our individual-based models challenge traditional, aggregate approaches to help our clients understand the true incremental impact of a new product or service. We also believe it is essential to take the guesswork out of the front end of the innovation process by identifying and prioritising the right opportunities before ideation to find high potential growth ideas and increase speed to market.
Explore our Innovation & Product Development growth tools below
Related case study
- Exploit growth opportunities in new market segments
The brand leader in the imported beer market was not participating in the growing segment of lighter, more drinkable beers. The client wanted to explore opportunities in this sector to fuel their stalling sales and profits.
With Matrix’s systematic and comprehensive approach to unearthing and directing precise opportunities for innovation we evaluated the beverage landscape of over 50 different beers. We explored consumer needs on a recent occasion in great detail. Broader attitudes to the category and beyond to understand tensions and un-met needs in the market and uncover key target opportunities.
We identified a major gap in the largest need state for beer that satisfied the need for badge value, product quality and a lighter, but satisfying, drink-ability. Our growth plan convinced management that the risks were acceptable, and that implementation would drive incremental growth and enhance the core brand equity. The client developed a franchise expansion strategy to appeal to underdeveloped customers. They tailored the entire business plan to target the need-state we identified; positioning, brand identity, value proposition, on-and-off premise channel strategy and tactics and spending mix.
Precise plans for growth
The resulting product was launched and delivered well ahead of targets. In the first year the new brand exceeded sales goals by more than 50 percent.
For more information please contact Chris Holland.