Food Processing - May 2008 - (Page 28) An Astonishing 95 percent of new products never catch on. those innovative few that immediately connect with consumers by solving their problems and delivering multiple benefits create the kind of buzz and purchase loyalty that can make a cfo smile. chicago-based information resources inc. (iri) has tracked consumer packaged goods (cpg) introductions for 13 years via its new product pacesetters report, ranking each year’s most successful new brands. pacesetters are those products launched between february of one year and January of the next that reach two milestones: 30 percent national distribution and retail sales of at least $7.5 million, according to iri’s definition. when that is accomplished, iri tracks them over the next 12 months to determine the most successful new products in their first year of “national” sales in food, drug and mass merchandising channels, excluding wal-Mart. it is intriguing that year-one sales for new products are declining. Less than one-quarter of new brands exceed sales of $7.5 million. over the past decade, the proportion of brands earning $20 million or more has shrunk from 13 percent to 7 percent. on last year’s list, there were six new products with sales of more than $100 million; two had sales exceeding $200 million. this year there is only one $100 million product (campbell’s reduced sodium soup). According to iri, part of this decline is due to a rise in the introduction of targeted solutions intended for a narrow audience, but there remains a dire need to improve the new product introduction process. Virtually all of the 2007 pacesetters are extensions of existing brands, rather than net-new brands. historically, netnew pacesetter brands have earned higher year-one sales than extensions. however, in food and beverages (iri also tracks health & beauty aids and household cleaners), extensions were equally successful as new. Apparently, manufacturers are cracking the code on getting a larger return when leveraging existing brand equities by creating excitement and distinguishing the new items on the shelf. top-selling ne The year’s 28 • FOOD PROCESSING May 2008 WWW.FOODPROCESSING.COM
Table of Contents Feed for the Digital Edition of Food Processing - May 2008 Food Processing - May 2008 Editor’s Plate NewsBites The Trends Rollout Food Biz Kids Product Developer turned Bean Counter The top-selling new products of 2007 The open road Back to the Big Easy Managing the global plant A new column with answers to your plant-fl oor questions New Supplier Products Toops Scoops Food Processing - May 2008 Food Processing - May 2008 - Food Processing - May 2008 (Page Cover1) Food Processing - May 2008 - Food Processing - May 2008 (Page Cover2) Food Processing - May 2008 - Food Processing - May 2008 (Page 3) Food Processing - May 2008 - Food Processing - May 2008 (Page 4) Food Processing - May 2008 - Food Processing - May 2008 (Page 5) Food Processing - May 2008 - Food Processing - May 2008 (Page 6) Food Processing - May 2008 - Editor’s Plate (Page 7) Food Processing - May 2008 - Editor’s Plate (Page 8) Food Processing - May 2008 - Editor’s Plate (Page 9) Food Processing - May 2008 - Editor’s Plate (Page 10) Food Processing - May 2008 - NewsBites (Page 11) Food Processing - May 2008 - NewsBites (Page 12) Food Processing - May 2008 - NewsBites (Page 13) Food Processing - May 2008 - The Trends (Page 14) Food Processing - May 2008 - The Trends (Page 15) Food Processing - May 2008 - Rollout (Page 16) Food Processing - May 2008 - Rollout (Page 17) Food Processing - May 2008 - Rollout (Page 18) Food Processing - May 2008 - Food Biz Kids (Page 19) Food Processing - May 2008 - Food Biz Kids (Page 20) Food Processing - May 2008 - Food Biz Kids (Page 21) Food Processing - May 2008 - Product Developer turned Bean Counter (Page 22) Food Processing - May 2008 - Product Developer turned Bean Counter (Page 23) Food Processing - May 2008 - Product Developer turned Bean Counter (Page 24) Food Processing - May 2008 - Product Developer turned Bean Counter (Page 25) Food Processing - May 2008 - Product Developer turned Bean Counter (Page 26) Food Processing - May 2008 - Product Developer turned Bean Counter (Page 27) Food Processing - May 2008 - The top-selling new products of 2007 (Page 28) Food Processing - May 2008 - The top-selling new products of 2007 (Page 29) Food Processing - May 2008 - The top-selling new products of 2007 (Page 30) Food Processing - May 2008 - The open road (Page 31) Food Processing - May 2008 - The open road (Page 32) Food Processing - May 2008 - The open road (Page 33) Food Processing - May 2008 - The open road (Page 34) Food Processing - May 2008 - The open road (Page 35) Food Processing - May 2008 - The open road (Page 36) Food Processing - May 2008 - Back to the Big Easy (Page 37) Food Processing - May 2008 - Back to the Big Easy (Page 38) Food Processing - May 2008 - Back to the Big Easy (Page 39) Food Processing - May 2008 - Back to the Big Easy (Page 40) Food Processing - May 2008 - Back to the Big Easy (Page 41) Food Processing - May 2008 - Back to the Big Easy (Page 42) Food Processing - May 2008 - Managing the global plant (Page 43) Food Processing - May 2008 - Managing the global plant (Page 44) Food Processing - May 2008 - Managing the global plant (Page 45) Food Processing - May 2008 - Managing the global plant (Page 46) Food Processing - May 2008 - Managing the global plant (Page 47) Food Processing - May 2008 - Managing the global plant (Page 48) Food Processing - May 2008 - A new column with answers to your plant-fl oor questions (Page 49) Food Processing - May 2008 - New Supplier Products (Page 50) Food Processing - May 2008 - New Supplier Products (Page 51) Food Processing - May 2008 - New Supplier Products (Page 52) Food Processing - May 2008 - New Supplier Products (Page 53) Food Processing - May 2008 - New Supplier Products (Page 54) Food Processing - May 2008 - New Supplier Products (Page 55) Food Processing - May 2008 - New Supplier Products (Page 56) Food Processing - May 2008 - New Supplier Products (Page 57) Food Processing - May 2008 - Toops Scoops (Page 58) Food Processing - May 2008 - Toops Scoops (Page Cover3) Food Processing - May 2008 - Toops Scoops (Page Cover4)
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