Home > business and economics, lists and rankings, Nielsen > 2012 Nielsen Breakthrough Innovation Awards

2012 Nielsen Breakthrough Innovation Awards

September 28, 2012

2012 Nielsen Breakthrough Innovation Awards

Source: Nielsen

Finding ways for a product to succeed in a beleaguered marketplace takes a mix of pragmatism and creative genius. And the winners of the 2012 Nielsen Breakthrough Innovation Award did just that. In contrast to innovation awards focused on one-year wonders, the Nielsen Breakthrough Innovation Award honors new products that succeed on multiple dimensions over multiple years.

Nielsen analyzed more than 11,000 new products in the U.S. between 2008 and 2010 to find the 2012 winners. Of the products evaluated, only 34 products met award criteria. These products totaled less than 0.5% of all new product introductions during the period.

The study revealed that there are no easy formulas on the road to successful innovation, and many common pitfalls. Of the product launches that didn’t meet award criteria, one trap many companies fell into was losing sight of consumer needs. Often– to save time and money, attract a certain demographic group, or respond to competitors in the market– new product teams added features that consumers don’t value, or shifted product focus away from what made the original concept a fresh, viable solution.

Free registration required to download full report.

About these ads
Follow

Get every new post delivered to your Inbox.

Join 490 other followers

%d bloggers like this: