With statistics suggesting 60% of product relaunches fail, what does success look like and which brands are getting it right?
With some 230,000 new products launched each year and only 8% of consumers committed to their current brand, according to NielsenIQ data, it’s critical for marketers to reimagine product, packaging and positioning to stay ahead of the competition. But doing so isn’t without significant risk.
Saga is betting big on its shift away from short-term sales to long-term brand building, as it looks to drive consideration amongst experience hungry over-50s.
After a bumper two years, which saw the brand attract millions of new customers, Birds Eye is on a mission to ramp up innovation across new product lines and renovate core products as shoppers “rekindle” their love of frozen food.
The parent company behind Mr Kipling and Sharwood’s is prepping the launch of several “insight driven new products”, as it looks to the US for brand growth.
The travel business is aiming for more direct bookings over those generated through paid marketing investment, something that it claims will benefit its P&L.
The juice category has become “commoditised” in recent years, with its leading brands underinvesting in it. Tropicana is aiming to push back against this by dialling up its brand assets, investing in innovation and reconnecting with key occasions.
Dragons’ Den star Deborah Meaden is confirmed for the 11th Festival of Marketing. She will join CMOs and other speakers from the world of marketing and beyond on 3 October.
According to WARC Media, social media is the largest media channel worldwide by advertising investment, with Meta alone representing a 63% share of global social spend.