Innovation is the development of an idea into a commercialized reality where it creates value. Idea to market, i2m® for short, is the core pathway for innovation in the company. i2m® is about growth. It's arguably one of the most critical things a company can do.
Unfortunately, successful innovation is elusive. In the consumer packaged goods industry:
Product life cycles are only 1/4 as long as they once were
Median time to market is 27.5 months
Late to market by 6 months can reduce profits by as much as 35%
#2 to market experiences 25% less sales than #1; #3 experiences 35% less
75% of all UPCs and over 50% of all new brands fail in market
So, organizations often seek to transform their innovation processes. That has many challenges and a high failure rate as well.
Organizations, particularly large organizations, seeking to transform themselves and improve their innovation capabilities consistently run into five internal innovation issues:
i2m® solves the collaboration issue with myi2m.com and puts you on a path to the following benefits for your business:
Bigger – Increase the aggregate year-over-year net revenue of your new product efforts.
Better – Increase the incrementality of your new products in the marketplace by reducing cannibalization of existing products.
Fewer – Reduce failures in development and commercialization and decrease the number of new products you have to generate each year to hit your goals.
Faster – Cut the time to market for all new product efforts and increase the odds that you're in the market first.
Smarter – Incorporate best practices and institutionalize knowledge and learning in your organization.
Implementing i2m® for Growth
Our services to help you transform your idea-to-market process for greater success and growth. There are three levels of implementation for i2m®:
We at ThinkWay are uniquely qualified to help you with your i2m® needs. Contact us to find out why.
For more information on I2M®, contact us directly.
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