Profitable growth and product innovation are inextricably linked. As product life cycles are compressed, product portfolios need to be replenished more quickly just to stay even. It is now more critical than ever to realize revenue rapidly from new products. In a survey that we conducted of more than 650 companies in North America and Europe, executives expect new product revenue to be 35 percent of sales in 2007 – up from 21 percent in 1998. Customers are fickle; they demand more value for lower prices and they will switch for a better value. With unrelenting competitive pressures, market timing is critical. And, of course, shareholders demand profitable growth.
Getting Results that Matter
We have learned valuable lessons in helping some of the world’s leading companies achieve profitable growth by launching successful new products. We can work with you at fine-tuning your product innovation processes, and allow you to:
- Increase new product success rate through metrics-based, continuous process improvement.
- Improve customer satisfaction with new products that meet or exceed their performance and price point expectations.
- Improve retention of your best talent due to implementation of appropriate recognition and reward for risk taking.
- Increase R&D effectiveness through improved cross-functional integration and internal partnering.
Our Approach
Generating ideas is usually not the issue – defining the right products, getting them to market on time and below budget, gaining market traction and accelerating the path to product profitability are the issues.
We can help you quickly create value with your new products. We combine deep strategic and operational capabilities with extensive implementation experience to develop value-based, executable strategies. These strategies provide our clients with the foundation for achieving results that matter.
Download a PDF to learn more about our approach to Product Innovation.
