We all know what it feels like, when suddenly an idea pops up. “We should introduce X, or develop Y. It will really let our market share grow. I know it for sure.” The first thing you do is pitch your idea to other colleagues, who also get excited about your idea.
Once it’s in the plan, it’s in the plan
You take it to the next level and prepare a presentation for your manager. He is also very enthusiastic and you both plan a meeting with the CMO or management team. Together with your manager you give a presentation and the project is born and the management team quickly implements it in their MTP (Mid Term Plan) with a rough timing estimate for an introduction.
Yes! You did it... but what did you actually do? This is a good example of how an idea comes to life within large FMCG companies (of course there are several other routes, but they more or less go the same way). You probably provided resources to work on the project and made people believe in your new innovation. But what do they and you actually believe in?
You might be wondering; where is the consumer? It is already in the plan! The management team and you already implemented it in the annual operating plan. Also, the P&L of the innovation and the way they want to produce it (the rough sketch of the P’s in the marketing mix) is already roughly defined. What's going wrong here, you ask? Well, you sold your idea to the bank, the mortgage is already running and there is almost no room for significant adaptations in the big idea itself.
Solution
Only sell your innovation internally before you reduce the risk and uncertainty of the innovation with consumer behavior input. Which consumer problem are you solving with your new innovation? Please check this before you sell it.
Testing Consumer Behavior
But how do you test consumer behavior? Well at Bamboo Brands, we directly test consumer behaviour on the shop floor. No opinions, just facts. With these insights, you can sell your innovation internally without risk of uncertainty. Want to know more? Feel free to send me a message!
