2013 Readers Choice: New Product Development & Introduction

CGT’s readers rank the top 10 technology companies that provide solutions for product management, including new product development, formulation, packaging, introduction and launch.

Download the full New Product Development Report

Even in the worst of times, consumer goods companies continued to improve NPD&I processes. Jos Antonio Barco, a managing director in Accenture’s Consumer Goods & Services practice, reveals trends worth watching in this critical growth area.

 
Where are consumer goods innovation efforts focused now?

Barco: Many consumer goods companies are differentiating between the operational support activities in the product development process and the research element to reorganize and transform innovation and product development operating models. This helps to reduce costs without reducing capability.

Consumer goods companies are also starting to use predictive analytics to better identify the expected “market winners” much earlier in the process, preventing wasted time and dollars.


How is the PLM process changing to include consumer insights?   

Barco: Together with the use of more granular consumer and market information on needs, product attributes and consumer values that enable the predictive analytics just mentioned, there is a clear trend toward open innovation in terms of using social media listening and mining. This enables companies to better understand both the attributes that consumers are looking for as well as to adapt products once they are launched based on those reactions.


How can innovation support growth in emerging markets?

Barco: Emerging markets are increasingly important from a revenue and results point of view. Companies need to develop products that will successfully answer these different cultures, tastes and needs. It also requires new product formats, new consumption units and new routes to market. We are seeing more companies creating a network of innovation centers and pools of talent in emerging markets in order to successfully address this challenge.

BREAKOUT FAVORITES


Customer Experience Leader
Oracle

“Oracle’s Agile Product Lifecycle Management for Process is a key component to our corporate strategy, having made a significant impact on our ability to execute on our initiatives and surpass our customers’ expectations.”
­— Kim Glenn, Director Research & Development, Tyson Foods



SMB Market Leader
Microsoft Corporation

“We believe Office 365 capabilities, like video conferencing, will help our employees drive real-time decisions, which will help us reduce problem resolution time and potentially accelerate our products to market.”
— Casey Stoops, Network Operations Manager, Patagonia