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[Assignment 10.1][Brand Innovation] Hung Van

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This document discusses brand innovation and the innovation process. It begins by outlining desired outcomes of brand innovation such as expanding into new categories and territories. It then defines innovation, creativity, and the three levers used to transform brand ideas into reality: strategy, innovation, and process. The rest of the document details the innovation process, including developing an innovation strategy and funnel. Concepts move through stages of ideation, evaluation, feasibility, capability, and launch. The goal is to continuously innovate and strengthen the brand through refresh, compete, and breakthrough innovations.

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[Assignment 10.1][Brand Innovation] Hung Van
OUTCOMES • Expand brands beyond current category • Launching brands in new territories • Reading new consumer groups • Innovating the core with rapid roll-out BRAND INNOVATION is the 1st lever to pull a brand from initial ideas to real life. It refers to both radical and incremental changes to products, processes or services, and like most business functions, is a management process that requires specific tools, rules, and discipline Innovation is the process of harnessing creative ideas to meet business needs Creativity is the thinking process by which we generate ideas Definition1 REASONS • Increase competitive advantage • Achieve bussiness goals/profits Use 3 levers to pull brand into real life Create and understand “Where are we going?”
Strategy2 INNOVATION PRINCIPLES • Build on company, market and brand Strategy • Complete the innovation path to create Innovation strategy • Keep a balance of refresh-compete-breakthrough • Work out the P+L as early as possible, keep on target • Strong consumer insights are at the heart of a great concept • Craft concepts and create the rich stimulus for research Company strategy Market strategy Brand strategy Innovation strategy INNOVATION TYPE Refresh – Keep existing benefits but refresh the offer Variety of tastes Compete – Add new benefits to existing offers Strengthen digestive & immune system (Supplement beneficial bacteria) Break-through – New-offer/ New benefits Savior of the aging skin (Supplement collagen & vitamin C) Different levels of strategy Shorter term, low risk and usually lower reward These are essential developments BUT they must not take time away from COMPETE + BREAKTHROUGH Require investment in technology/product, as a result, more time development is needed Risk is higher so make sure the REWARD is sufficient Bring something new to the category Development may include technology, product or pack. Therefore, this type require the most time and resource
Process3 INNOVATION PATH INNOVATION FUNNEL Context Initiative Concept If things go wrong (and they will) just go back one step and try again Stage gate track to explore furtherPre-stage gate defines the direction 2 IMPORTANT PHASES OF INNOVATION
Process3 Context Initiative Concept Build on the Brand Strategy House Innovation Direction • Brand • Financial target • Direction description • Benefit Platform • Innovation Program • Scope • Initiative Area Identify Possible Innovation Initiatives Define each Initiative in more detail • Launch date • Opportunity • Trends • P+L • Innovation Type Acts as the brief for concept development Create concepts for each Initiative • Name • Description • Insight • Emotional Benefits • Reason to Believe • Visualization Prepare successful concepts for Innovation Funnel Output Factors Aim Innovation path
Process3 CONCEPT EVALUATION CRITERIAS B-M-M-D (Benefit – Meaningful - Mind-opening – Differentiation) (Or Uniqueness – Relevance – Appealing – Creditability – Purchase Intent) Innovation path • Build on background information • The more the better • Fit the Brand Strategy • Help address the Innovation Direction • Fit within the pre defined Boundaries INITATIVE ONE approach to addressing Innovation Direction Define the broad area to be explored by future concepts (an innovation project) INITIATIVE AREA PROVOCATIVE CREATIVITY: Provoke the consume with a real options (More emotional response, relevant comments. easier to fine tune the concept) • Go beyond stating the obvious • Make sure you have dilemma pivot point • Be positive • Avoid absolutes/ culturally sensitive CONCEPT BUNDLE: INSIGHT • Single minded • As short and concise as possible • Must have a Dilemma/Friction /Pivot point (make sure there is a BUT (or similar) in the sentence Insight with “dilemma pivot point” Insight = [Need/Benefit] BUT [Dilemma – why I can’t satisfy my need/desire]
Process3 Innovation funnel L A U N C H Contract Launch Roll-out Feasibility Capability Market Ready/ Market deployment Post-Launch Evaluation Roll-out Contender Ideas Can we do it? Will we do it? Was it a success? Recommend others to do the same Do we want it? What is it about? On shelf in first market(s) Charter IdeasGATE At this phase, most projects are created and remain following review at the Gate Meeting if re-work is required or if company resource is not available to pursue it. This is the gate between Idea Phase and Feasibility Phase where decision is made whether to invest in a project team. This is the gate between Feasibility Phase and Capability Phase, its purpose being to decide on investing capital and marketing mix costs. At this phase, projects handled by Innovation Centers and Brand Development will pass through – and get license from National Business Unit.
Process3 Confidence are firstly reflected through bright and healthy nutritious facial skin Ideas Feasibility Capability Aloe Vera • Balance skin moisture • Absorb excess sebum • Clean and tighten the pores Coffee bean • Brightening effect • Prevent UV ray • Anti-aging Seaweed • Lightening effect • Increase skin elasticity • Anti-aging Market Ready/ Market deployment At this phase, projects handled by Innovation Centers and Brand Development will pass through – and get license from National Business Unit. Launching Pond’s Men Energy Charged Pond's is an skin care expert on whitening products, committed to delivery rosy skin transformations through revolutionary product innovations Example 1. Pond’s Men Oil Control 2. Pond’s Men Vitamin nutrients 3. Pond’s Men Energy charged
[Assignment 10.1][Brand Innovation] Hung Van

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[Assignment 10.1][Brand Innovation] Hung Van

  • 2. OUTCOMES • Expand brands beyond current category • Launching brands in new territories • Reading new consumer groups • Innovating the core with rapid roll-out BRAND INNOVATION is the 1st lever to pull a brand from initial ideas to real life. It refers to both radical and incremental changes to products, processes or services, and like most business functions, is a management process that requires specific tools, rules, and discipline Innovation is the process of harnessing creative ideas to meet business needs Creativity is the thinking process by which we generate ideas Definition1 REASONS • Increase competitive advantage • Achieve bussiness goals/profits Use 3 levers to pull brand into real life Create and understand “Where are we going?”
  • 3. Strategy2 INNOVATION PRINCIPLES • Build on company, market and brand Strategy • Complete the innovation path to create Innovation strategy • Keep a balance of refresh-compete-breakthrough • Work out the P+L as early as possible, keep on target • Strong consumer insights are at the heart of a great concept • Craft concepts and create the rich stimulus for research Company strategy Market strategy Brand strategy Innovation strategy INNOVATION TYPE Refresh – Keep existing benefits but refresh the offer Variety of tastes Compete – Add new benefits to existing offers Strengthen digestive & immune system (Supplement beneficial bacteria) Break-through – New-offer/ New benefits Savior of the aging skin (Supplement collagen & vitamin C) Different levels of strategy Shorter term, low risk and usually lower reward These are essential developments BUT they must not take time away from COMPETE + BREAKTHROUGH Require investment in technology/product, as a result, more time development is needed Risk is higher so make sure the REWARD is sufficient Bring something new to the category Development may include technology, product or pack. Therefore, this type require the most time and resource
  • 4. Process3 INNOVATION PATH INNOVATION FUNNEL Context Initiative Concept If things go wrong (and they will) just go back one step and try again Stage gate track to explore furtherPre-stage gate defines the direction 2 IMPORTANT PHASES OF INNOVATION
  • 5. Process3 Context Initiative Concept Build on the Brand Strategy House Innovation Direction • Brand • Financial target • Direction description • Benefit Platform • Innovation Program • Scope • Initiative Area Identify Possible Innovation Initiatives Define each Initiative in more detail • Launch date • Opportunity • Trends • P+L • Innovation Type Acts as the brief for concept development Create concepts for each Initiative • Name • Description • Insight • Emotional Benefits • Reason to Believe • Visualization Prepare successful concepts for Innovation Funnel Output Factors Aim Innovation path
  • 6. Process3 CONCEPT EVALUATION CRITERIAS B-M-M-D (Benefit – Meaningful - Mind-opening – Differentiation) (Or Uniqueness – Relevance – Appealing – Creditability – Purchase Intent) Innovation path • Build on background information • The more the better • Fit the Brand Strategy • Help address the Innovation Direction • Fit within the pre defined Boundaries INITATIVE ONE approach to addressing Innovation Direction Define the broad area to be explored by future concepts (an innovation project) INITIATIVE AREA PROVOCATIVE CREATIVITY: Provoke the consume with a real options (More emotional response, relevant comments. easier to fine tune the concept) • Go beyond stating the obvious • Make sure you have dilemma pivot point • Be positive • Avoid absolutes/ culturally sensitive CONCEPT BUNDLE: INSIGHT • Single minded • As short and concise as possible • Must have a Dilemma/Friction /Pivot point (make sure there is a BUT (or similar) in the sentence Insight with “dilemma pivot point” Insight = [Need/Benefit] BUT [Dilemma – why I can’t satisfy my need/desire]
  • 7. Process3 Innovation funnel L A U N C H Contract Launch Roll-out Feasibility Capability Market Ready/ Market deployment Post-Launch Evaluation Roll-out Contender Ideas Can we do it? Will we do it? Was it a success? Recommend others to do the same Do we want it? What is it about? On shelf in first market(s) Charter IdeasGATE At this phase, most projects are created and remain following review at the Gate Meeting if re-work is required or if company resource is not available to pursue it. This is the gate between Idea Phase and Feasibility Phase where decision is made whether to invest in a project team. This is the gate between Feasibility Phase and Capability Phase, its purpose being to decide on investing capital and marketing mix costs. At this phase, projects handled by Innovation Centers and Brand Development will pass through – and get license from National Business Unit.
  • 8. Process3 Confidence are firstly reflected through bright and healthy nutritious facial skin Ideas Feasibility Capability Aloe Vera • Balance skin moisture • Absorb excess sebum • Clean and tighten the pores Coffee bean • Brightening effect • Prevent UV ray • Anti-aging Seaweed • Lightening effect • Increase skin elasticity • Anti-aging Market Ready/ Market deployment At this phase, projects handled by Innovation Centers and Brand Development will pass through – and get license from National Business Unit. Launching Pond’s Men Energy Charged Pond's is an skin care expert on whitening products, committed to delivery rosy skin transformations through revolutionary product innovations Example 1. Pond’s Men Oil Control 2. Pond’s Men Vitamin nutrients 3. Pond’s Men Energy charged