When it comes to innovation, brands have been facing various pain points.
The process of creating a new product is complicated. How to reduce the time for new product launch and lead the trend in advance? When the market is crowded and competition is severe, where the brand could make a great success? The direction of innovation is well-planned, but how to land down to specific products? The creativity and technology are excellent, but the sales performance is not ideal, then why does this happen? All above are tough issues for both emerging and mature brands, which it often took traditional product launch consulting projects six to eight months to solve.
However, for an international beverage brand, these will no longer be pain points. Thanks to the innovative solution from KALEIDO of Illuminera, it can achieve breakthroughs in the whole process of key innovations such as category/subcategory selection, product design, and market launch, and shorten the new product opportunity identification process to 2-3 weeks, significantly ahead of similar players in the market.
The brand came to Illuminera expecting to discover product innovation ideas for the R&D team by clarifying the attributes of products in each category and sorting out the trendy elements under each attribute, so as to pinpoint the innovation direction and prepare for the launch of one or two new products.
Leveraging years of successful experience in new product launches and cutting-edge modelling capabilities, algo, the big data consulting boutique of Illuminera, used the recently launched KALEIDO innovative solution to help clients systematically solve the three major problems when doing innovation research – innovate for whom? What are the product innovation directions? Which should go to market first? KALEIDO also greatly shortened the traditional new product opportunity identification process, and accelerated the successful launch of new products for clients more intelligently, more efficiently, and more precisely.
KALEIDO Innovation Solutions
From 0-1 medium and long-term innovation accelerator
Our team first helped clients to accurately identify TA groups, clarify consumer demands, discover product innovation opportunities and key innovation categories. Meanwhile, we designed product innovation roadmaps based on brand’s supply chain capabilities as well as marketing budgets, and blueprint a medium and long-term new product strategy map for the brand by using big data analysis and quantitative research.
Not only does it stop here, but also with the help of KALEIDO solutions based on big data trend analysis and model attribution, Illuminera was able to help clients create new product concept recommendation index, which could systematically explore market hotspots that match brand TA. In addition, the solution automatically selected three different product innovation directions, from demand track, product attributes, and marketing directions as well as multiple dimensions. It also gives recommendations for creative combinations with a higher success rate. The whole process took no more than one month, which greatly shortened the new product development cycle.
Up till now, two rounds of TMIC tests found that all three innovative directions derived from KALEIDO had won against other options, which provided the client with an accurate prediction of the success rate of new products and extraordinarily reduced the opportunity cost of product launch.
In the increasingly complicated digital age, KALEIDO innovation solution empowered by Illuminera can not only clear the fog of data, identify market hotspots and category trendy elements, but also predict fine-grained success index through intelligent algorithms, bringing brands a set of “Successful Forecast, R&D Acceleration, and Opportunity Identification” as one of the comprehensive solutions to assist new product launch.
For more information, please send an email to: alice.he@illuminera.com
