Slow Down, Speed Up New Product Growth

A Brandweek Article

Emerging from a recession where cost cutting preserved bottom lines, marketers need topline growth - and they need it bad. Yet top marketers rated themselves only 32% effective at launching new products in a recent survey by Markitecture.

What's more, an overcrowded marketplace doesn't lend itself to the simple brand extensions that characterized much of the expansion of the eighties. In fact, a number of today's most innovative, and successful marketers are taking a reverse approach: introducing fewer new products, but taking the necessary steps to ensure these "chosen few" are truly unique, better thought-out and, above all, really do address unmet consumer needs.

Rushing more new products more quickly through the pipeline - the conventional reaction that paid off in the past - isn't the way to better your odds in the months ahead.

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