How to Measure New Product Productivity in Your Industry

Geovanny Romero blogs on Innovation Excellence about the importance of new product development to keeping your business ahead of the game. But how does your industry fare? He says:

• the best firms have twelve times the productivity in new product development compared to the worst
• the most productivity industry is consumer packaged goods, including food
• the least productive industry is pharmaceutical

For new products to be a succesful part of the business, the new product development process needs to be clear, measurable, sustainable and consistent.

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The Products Chinese Consumers Want

A great post from HBR.

China's urban consumers are spending - 20% more than in 2010. This is where companies nurturing the demand for new or unfamiliar products are succeeding. Fabric conditioners, fruit juices, vitamins and mineral supplements are all increasing market share.

Cities that have been tagged for development by government has more potential for growth than the larger, established cities. Milk company Mengniu tripled its revenues to $4.5 Billion by chaning its slogan from "one cup of milk a day" to "three cups" as well as introducing new specialised products and premium products.

Click here to read the full article.