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Not enough time for innovation?
February 21, 2008
A new research study shows lack of time is the key inhibitor for packaging and branding innovation by consumer goods companies.
Paxonix, a division of substrate provider and converter MeadWestvaco, along with Consumer Goods Technology magazine, surveyed top marketing executives to explore how packaging and branding processes contribute to new product success. The research showed that while innovation is important the processes to foster innovation are either lacking or need to be refined to encourage creativity.
Eighty-six percent of those surveyed said marketing, branding and packaging are "significantly more important" or “more important" to overall product marketing efforts. However, with increased pressure to accelerate time-to-market and beat out the competition, most CPCs don't have the luxury of time to spend on these efforts. The burden of tight budgets, fewer hands and the lack of a technology platform to manage branding and packaging efforts interferes with the time reserved for innovation.
Respondents cited “speed to market" as the most important business driver and yet 32% suggested that “lack of time" was the greatest inhibitor to innovation in the design and development of branding and packaging.
Collaboration was also noted as critical to the success of branding and packaging but when asked about the top three roadblocks, 30% of respondents named “too many revision cycles" as the biggest roadblock. Logistics and communication issues were also major factors, while 19% claimed that not being in the same location was a major roadblock.
Clearly, here’s an opportunity for you to help your CPC customers and thus become an even more indispensable part of their packaging process.
Can you provide very fast turnaround on very short-run orders for promotions and test-marketing? Or on the flip side, can you deliver huge orders from multiple locations with very short lead times? Can you outsource or even provide in-house contract-packaging operations for them? Can you take over some administrative tasks to free up more time for CPC employees to focus on innovation? Is your staff ready to innovate new materials and containers shapes, designs and functions?
Your answers to the above just may determine your long-term success with these “time-crunched” customers.
Posted by Mark Spaulding on February 21, 2008 | Comments (1)
In response to: Not enough time for innovation?
packaging_process commented:
It's the Process - we have to stop being afraid of the process (i.e.: actually documenting it, refining and improving it) and holding people accountable for excessive revision cycles I am excited to not only see the thought leadership in this space directly from Paxonix but the results directly from industry.