Hello, I’m Susie White, a food innovator who inspires food and beverage businesses to create the best food and drinks possible for people to enjoy.
Did you know that over 45% of new consumer products don’t survive their first year in market because people don’t really want or need them?
This is because over 90% of businesses jump straight into making and launching a new product and waste a lot of time, effort and money, before discovering that people never wanted to buy their product in the first place.
Is your business starved of new products and hungry for growth?
There’s a burning need among food and beverage businesses to launch new products, or revitalise existing products, to drive long-term growth. Yet, many businesses like yours, may be struggling to do so. They keep making what they know, until it all goes wrong and they’re forced to look for a new approach. Fortunately, the problems you’re facing are predictable.
You may be experiencing some of the most common product innovation challenges faced by food and beverage businesses:
This occurs when businesses launch only familiar and close-in new products, like new flavours of a current product, which stop delivering incremental sales over time.
Churn and Burn
Businesses suffer when they find themselves spending a lot of time and money throwing new product after new product into the market with very little success.
This occurs when people and resources are focused on the day-to-day business operations, and there are no new product plans beyond the current year.
These businesses are so busy creating and launching new products that they start to neglect their existing products so sales start to decline faster than their new products grow.
Are you ready to solve these four problems? If so, with my FEAST innovation framework, you’ll be able to avoid or overcome all four of these innovation challenges.
Or check out my new book Innovation Feast, which outlines my five-step FEAST framework, so you can innovate effectively and create new product ideas to feed your hungry business.