Transforming the Front End of Innovation for Consumer Goods Companies with FEI Optimizer
Innovation is a top priority for many consumer goods companies but launching new products that deliver business growth is a real challenge. A CGT-Sopheon study found that only 18% of new consumer goods products are considered “highly innovative.” These consumer goods manufacturers attributed their low-value results to a lack of high-value ideas and concepts at the front end of innovation.
All too often, ideation and concept development activities are in organizational siloes by geography, brand or product line, or there’s a disconnect between consumer needs and products being developed. As a result, many new ideas are, in fact, recycled concepts from the past.
Sopheon and global innovation consulting firm Kalypso have developed FEI Optimizer, a joint offering for consumer goods companies. It’s the first solution to extend ideation support to concept development and testing with integrated linkage to consumer research. FEI Optimizer enables your innovation teams to easily understand how concepts have evolved over time and to see the consumer feedback that has influenced those changes. By tracing a concept’s history, your team members can determine why alterations were made to pricing, positioning, packaging, or to the product itself, giving them valuable context for learning what worked, what didn’t, and what should be repeated or avoided in the development of future products.
What Customers Say
“It works very, very well. You have real time input from more people engaged around the globe where time differences make it really hard to brainstorm, and it saves a lot of time and travel money as you use the tool for this purpose.”
With Sopheon and Kalypso’s FEI Optimizer, you can:
- Connect innovators to a wealth of ideas and valuable knowledge sources to facilitate discovery and global collaboration.
- Multiply the business value of good ideas by eliminating brand, geographical or functional silos.
- Leverage key learning and knowledge from the past rather than recycling them.
- Ensure a seamless transition from ideation to concept development and execution.