Editor’s Note: Insights That Work is a showcase of how the GRIT Top 50 Most Innovative Suppliers create solutions to some of the biggest challenges in insights today. This year’s edition provides case studies on brands like Nestle, Shell, Frito-Lay, and more.
A top-10 global food and beverage business had two challenges that focused on the pre and post-launch efforts of their product ranges.
The business wanted to increase the speed and quality of concept testing to support their innovation sprints. Additionally, they needed to track the success of multiple new product launches in the market and understand the efficacy of marketing, distribution, and the impact on consumption.
Due to the high demand for innovation from all regions, this global business needed scalable, fast, and robust solutions to meet its needs.
To solve the company’s NPD challenge, ITWP tailored its automated research suite of product, concept and pack testing tools to provide a flexible and templated solution that offered insights in hours.
For measuring the success of product launches, ITWP combined its research methodology with a flexible framework of modules built around the timing of each launch into the market.
The blend of technological and methodological expertise enabled the company to create templated solutions in their own bespoke design.
The company has been able to successfully develop and launch products that have totaled more than $1bn in annual sales.
ITWP’s products have allowed the company to diversify its product offering across categories and markets at the speed of their shareholders’ demand. Within three years, the company’s share price has risen by more than 30%.
The company is now considering moving all global brand tracking and product development to ITWP methodologies.