New Product Development
We believe that good NPD is the result of good process not just good ideas. Click here for The Essence New Product Development Process. We subscribe to the 'Outlier' principles that success is as much a result of practice and environmental factors as it is the strength of the idea. So our NPD process focuses on three things:
Importantly, the entire process is facilitated by the one experienced team, from opportunity identification to brainstorm, research to validation providing a seamless, optimal NPD approach from inception to launch. Case Studies At Essence, we take our client confidentiality very seriously, particularly in the area of new product development. However, we have used NPWE™ in the following cases, with client erased to protect the innocent! Case Study No 1. FMCG client in a mature category with high growth of homebrands. Needed a new product idea to take up factory capacity. Essence responsible for worldwide product search and desk audit, then pulled together creative and expert team for ideation. Funnelled down 50 ideas to 10 - 3 brand new product concepts and 7 tactical product differentiators. Essence developed the research stimulus including liaison with American pilot plant for product samples, and packaging visuals. Essence also conducted qualitative research and delivered extensive communications advice on which idea to proceed with, how to market it and in this case, how to manage certain sensitive stakeholders. Case Study No. 2 Retail client launching into a mature market in Australia. Whilst the offer had largely been determined by the client, Essence was required to provide specific learnings and recommendations on the plan on aspects such as in-store environment, packaging of optimal product offers, positioning of store, core brand promise and communications. Essence worked with the marketing team and Board across a range of marketing opportunities and design the optimal marketing plan. Case Study No. 3 Venture capitalist wanted to commercialise a major piece of new medical technology across a range of markets including a consumer face. Essence conducted initial scoping research to understand barriers to acceptance, and then oversaw ideation process to help steer type and rate of product and variant launch and execution. Portfolio management was of particular interest as some variants had potential to adversely affect others – but were critical nonetheless. Communications and packaging research critical and provided feasible actionable launch strategies. If you want to know more about how your organisation can benefit from NPWE™, then give Essence a call! |
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