October 17, 2018
No one can deny that innovation cycles are becoming shorter and more agile.
New products, services and technologies are being released at an ever increasing speed, challenging existing businesses not only to keep up, but grow in shrinking markets.
Before we start, let’s align on what innovation is:
“Innovation is the introduction of something new; a new idea, method, or device.”
We see INNOVATION in marketing ideas across all industries, below 2 out of 6 observations of brand innovations, which facilitated growth in 2018:
Innovation #1: Occasion-based package designs that dives off the shelf, not only through differentiating itself from competition in the retail clutter, but generating a “must have now” need.
Pepsi successfully shared with Egyptians the two biggest occasions of the year:
The World Cup with Mohamed Salah; who wouldn’t want a Mohamed Salah can, even if they are not Pepsi consumers?
In addition, El Gouna Film Festival Pepsi cans, which generated an increase in consumption and brand choice through limited-edition package designs.
Innovation #2: Launch of new SKUs which expands the market, provides more variety, and increases consumption.
The more the variety, the more brands can expand their shelf space for better visibility, adding to the factors which increases Market Share.
“ You cannot afford to stay still – business is a moving escalator. The world is moving around you – customer expectations are changing, competitors are always catching up and threatening to take away your business ”
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