Consumers are not stupid, and they do not like to be treated stupidly. A product can be average and still survive, but survival for a bad product is very very difficult.
To illustrate this better, the Nestle 60/40+ Methodology is a good example. According to Nestle, the 60/40+ Methodology is nothing else than “applying good Marketing Practices and common sense to drive growth by creating and selling superior products both in Taste & Nutrition”.
In brand management life at Nestle, this translates into every single product going through 2 types of test, a taste assessment and a nutritional assessment versus competition. Only if the product is 60% superior on taste preference and nutritionally superior, it will be allowed to be launched!
Nestle knows taste is the n°1 decision criteria for any food-product, and Nestle knows they need to deliver healthier products to survive and continue delivering growth. WOWWW!!! Nestle is imprinting success in their genes!
If you have a bad product my recommendation is that you revisit its formulation, packaging or whatever it is that makes it bad. Go back to your product development team, R&D, Application group or whoever it is responsible.
A bad product is a guarantee for failure. A good product is only the first step to getting things working.
Posted by: Ignacio Molins
1 comment:
Fully agree! and most important, take into consideration all elements withing a product (product benefits, reason to believe, formula, taste, appereance, packaging, etc).
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