Why are new product introductions and key promotions critical for CPG companies?
• New product introductions and key promotions (NPI&P) are key drivers to growth for consumer goods companies. Successful new product launches are, therefore, critical to bottom line health. However, 70% of new products fail in the first year, most during their launch periods. Successful launches need to drive early consumer adoption and managing repeat demand is contingent on coordinated and effective execution to help meet shopper needs. • Promotions like new products introductions need to be well executed and on-time to avoid out of stock situations. Additionally promotions have short implementation life cycles, making it necessary to have products and displays available. What are the barriers to a successful new product launch? • Products must be in at target levels by the time consumer and trade promotions are executed. Last minute efforts to correct distribution and product placement can be costly and pull resources away from other critical steps in the launch. Many new product f
