Keynoting the 30th Prepared Foods’ New Products Conference, held at the Ritz-Carlton in Palm Beach, Fla., Richard Lenny, operating partner with Friedman, Fleischer & Lowe LLC, and former chairman, president and CEO of The Hershey Company, explored “Playing to Win: Turning Insights into Actions.” Comparing the Dow Jones-listed companies in 1990 vs. those on the list today, he noted half of that list remains the same, and today’s Dow-listed companies are primarily consumer-oriented.
These companies have learned and adapted to deliver superior value proposition to multiple stakeholders—all while adhering to factors critical to new product platforms: relevant branding; delivering true innovation across multiple need states and benefits; a broad geographic reach; products that are extendable over time; an insulated competition set, as opposed to a broad competitive environment; and a meaningfulness to their consumers.