Brand Marketing for Product Innovation: Developing Consumer, Customer, and Company Value Proposition

SITUATION
OLLY, a functional health benefits brand with gummy vitamin products, was just acquired by Unilever and needed to accelerate its new product innovations to meet company growth targets. 70% of new product innovations fail and they wanted the best chance of success with the right context – strong consumer, customer, and company value propositions.

PROBLEM
OLLY needed to prioritize its product innovation ideas, develop the ideas for pass-off to the technical product development team, and develop strong retailer sell-in stories for these new products.

SOLUTION
We led the product innovation prioritization process by kicking off several workstreams: estimating the Size of Prize of each idea, evaluating product-market fit with OLLY’s key retailer partners, evaluating the category size & trends, and researching the competitive landscape. Then, for the top ideas, we evaluated the product viability by creating financial models to develop product pricing, taking into account competitive price points, consumer willingness to pay, and company & retailer margin requirements. Lastly, we developed product positioning, informed by consumer research, competitive offerings, and key purchasing criteria for the category.

BENEFITS

OLLY received positive buyer feedback about these new product innovations and is on-track to gain distribution at a major national retailer. Their parent company of Unilever is pleased with their fast product development timelines with no compromises in the company, consumer, or customer value propositions.

For more information, contact Christie Lee at 516-967-8810 or [email protected].