LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has recently announced the completion of their latest new product development strategy for a CPG company. During the course of this engagement, the experts at Infiniti Research helped the client release a series of products for millennial consumers. Also, the study highlights how Infiniti’s new product development strategy helped the client strengthen their reputation and enhance sales rate by 33%.
The Consumer packaged goods market is oversaturated with new products and innovations. Also, with the millennial group becoming the population with more buying power in the market, it has become imperative for companies in the CPG industry to understand millennial customers’ needs and demands. Inability to meet customer demands can hamper the overall growth of the company. Therefore, companies are partnering with market research firms like Infiniti Research to leverage their expertise in offering new product development solutions for connecting with millennial customers.
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The business challenge: The client is a CPG industry company based out of Central Europe. With evolving millennial food interests, the client was facing difficulties in developing products that meet customers’ demands. With this, the company witnessed a huge decline in the sales rate. The client, therefore, approached Infiniti to leverage their expertise in offering new product development strategy. With Infiniti’s new product development strategy, the client wanted to examine the market changes, customers’ requirements, and develop new products aimed at millennials.
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The solution offered: The experts at Infiniti Research conducted an ethnographic study of global emergent consumer tastes and food cultures in the European market. With Infiniti’s new product development solution, the client was able to release a series of products for millennial consumers. Also, the solution aided the company to launch new organic offerings in their meal, snack, and beverage categories. With this, the client was able to emerge as a robust food brand and strengthen their reputation in the market. This subsequently helped the company enhance their sales rate by 33%.
Infiniti’s new product development strategy helped the client to:
- Produce and distribute new products that meet millennial customer demands
- Generate high profits
- Wondering how your business can benefit from our new product development strategy? Request more information from our experts!
Infiniti’s new product development strategy offered predictive insights on:
- Creating an efficient innovative process for new product development
- Examining the market requirements
- Interested in achieving high growth for your business? Get in touch with us to know how our new product development strategy can help.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us