Circana Unpacked
#156 - Strategies to Maintain New Product Momentum
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Show notes
There are four key principles fueling successful innovation beyond launch: distribution growth, trial, marketing support, and product expansion. None of these should be considered stand-alone strategies. Lisa Maas, principal and lead for Circana’s Innovation practice, shares examples from New Product Pacesetters on how to achieve growth in the years after launch.
Highlights:
- Table stakes should include setting the right expectations for sales and distribution.
- Marketing and support investment might ease from a peak of 25% of sales in year one. But support, easily in the 6% range, should continue.
- Retailers will continue to monitor the ability of products to keep shoppers coming back. New forms, new occasions, and moving into adjacencies are easy ways for consumers to remain loyal to preferred brands.