Marketing and Sales can sell anything once. Lack of sustained sales is proof that the new product is either: less preferred than the competing products; or worse, the customer would prefer to have nothing rather than have your new product.
And the failure is pandemic - new product releases in the consumer product industry experience success rates from 1 in 5 to as low as 1 in 10. Most new consumer product releases are a complete gamble - but don't have to be. Although good marketing can create initial demand for the worst of products, you must have consumer optimized products to deliver sustained sales.
Frankly, the odds need to improve, and that will only happen when one steps outside the box and uses something more effective than the classic consumer product development tools. Your sensory scientists are delivering the best products they can with the classic tools. Velocity Pointe's Optimum Consumer Products (OCP) is a paradigm-shift technology based on leading edge cognitive psychology and not found in the textbooks. So do you continue reinforcing the status quo, or do you takes steps to improve your acceptance odds to 1 in 2 or better?
The current classic tools in use today are usually fairly good at keeping the worst of the negative attributes out of the products, but the same tools only guess at where the true consumer preference optimum exists.
OCP delivers a management technology which allows companies to create truly optimized products. The challenge is both organizational and technical. The organizational issue is that the solution spans initial product development all the way to market testing in a single integrated solution. Spanning the related functional organizational compartments is the management challenge Velocity Pointe solves with the OCP management technology.
The technical part of the solution has been demonstrated with real world exercises.
McCormick had been working for over 3 years on a snack chip flavoring. In six weeks with OCP a new formulation was developed which was preferred over the original by 87%:13% - in a pair test 87% of the time the new flavor was preferred.
To learn more about this management technology see the following materials:
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