2 June 2014
New product development (NPD) is a vital business concern. New research from dunnhumby shows that business leaders rank NPD as their second greatest priority, narrowly eclipsed by driving growth. And as NPD directly contributes to growth, it becomes even more essential to the long-term success and competitiveness of a brand.
This paper will outline findings from a quantitative and qualitative reseach study of senior marketers from some of the biggest FMCG brands in the world. Our aim was to highlight the main challenges and opportunities around NPD, as well as understand the current status of NPD within major retail brands. We also aim to highlight how a data-driven approach can help brands overcome some of the barriers to NPD, in addition to quantifying and measuring long-term success.