Defining Success in the Desert
A successful new product can be defined by three factors. All must be taken into consideration in judging how much of a winner it is, says Valerie Skala Walker, vice president, Analytic Insights Group (IRI, Chicago). "They are year-one sales, incremental sales both to manufacturer and to the category overall and, lastly, sustainability. Most products don't survive year one, but most new products take two to three years to have a positive ROI for the manufacturer." Hear Walker speak at Prepared Foods' New Products Conference on October 11, 2004, in Scottsdale, Ariz. See www.PreparedFoods.com and click "2004 New Products Conference."
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