Product Innovation

Client Overview

Our client is a global leader in the consumer packaged goods industry, renowned for its wide range of household and personal care products. Despite a strong market presence, the company was facing challenges with stagnant growth in a highly competitive and mature market. The company aimed to innovate its product offerings to capture new market segments and increase its overall market share.

Challenges

The company was experiencing a decline in sales across several key product lines, mainly due to changing consumer preferences and increased competition from emerging brands. Their primary challenges were to:

Revitalize existing product lines to better meet consumer needs and preferences.
Develop new products that would appeal to a younger, more sustainability-conscious audience.
Accelerate the time-to-market for new products to stay ahead of the competition.

The company needed a strategic partner to guide them through the entire innovation process, from consumer research to product launch.

Our Approach

We worked closely with the client’s internal teams, applying a structured, data-driven approach to product innovation. Our process included the following key steps:

Market Research & Consumer Insights

Conducted an in-depth market analysis to identify emerging trends and unmet needs within the target demographic.
Utilized focus groups, surveys, and social listening tools to gather consumer insights, with a particular focus on preferences for sustainable and eco-friendly products.

Product Concept Development

Facilitated ideation workshops with cross-functional teams, including R&D, marketing, and sales, to generate new product concepts.
Evaluated the feasibility, potential market impact, and alignment with brand values for each concept.

Prototyping & Testing

Developed prototypes for key product concepts and conducted iterative testing with target consumer groups.
Gathered feedback on product features, packaging, and pricing to refine the offerings before finalizing the product lineup.

Go-to-Market Strategy

Developed a comprehensive go-to-market strategy, including pricing, distribution channels, and marketing campaigns tailored to the target audience.
Leveraged digital marketing and influencer partnerships to create buzz and raise product awareness ahead of the launch.

Sustainability Integration

Ensured that all new products were developed with sustainability in mind, using eco-friendly materials and packaging, and incorporating sustainability claims that resonate with the target audience.

Results

The product innovation initiative led to the successful launch of three new product lines within 18 months. The key outcomes include

Market Share Increase _ The new product lines quickly gained traction, resulting in a 15% increase in market share during the first year after launch.

Revenue Growth _ The new products significantly contributed to the company’s overall revenue growth, with the new product lines accounting for 25% of total sales in the first 12 months.

Enhanced Image _ The focus on sustainability not only attracted new customers but also strengthened the brand's reputation as a leader in eco-friendly products

Client testimonial

Working with OILIFINA CONSULTING was a true catalyst for our product innovation process. Their strategic insights and hands-on approach helped us not only develop products that resonate with today’s consumers but also revitalize our brand in a highly competitive market.

Vice President of Product Development

Conclusion

This case study illustrates our ability to drive product innovation leading to measurable commercial success. By combining in-depth consumer insights with strategic innovation processes, we were able to help our client achieve not only their immediate business goals but also position themselves for sustainable long-term growth.