Objective:
The Australian multinational confectionery team aimed to realign their new product development strategy to emphasize a healthier product portfolio, reflecting evolving consumer preferences for healthier confectionery options.
Challenge:
The Australian innovation team faced the challenge of identifying key opportunities to shift their product offerings towards a “Better-for-You” portfolio. They required assistance in discerning the most promising territories and categories where this transition could be most effective. By gaining insights into consumer preferences, regional demand, and emerging trends, the team aimed to make informed decisions and strategically position their products for success in the evolving market landscape.
Solution:
By harnessing the capabilities of Ai Palette’s platform, the Australian innovation team conducted an exhaustive analysis of millions of data points within the Australian region. This data-driven approach enabled them to construct a comprehensive framework that provided invaluable insights into the market landscape. With this framework in place, the team could meticulously identify and prioritize opportunities, pinpointing “ways to win” that included emerging trends in ingredients and consumer sentiments specific to the selected areas.
The platform’s extensive data analysis empowered the team to uncover actionable strategies and opportunities, ensuring that their transition toward a “Better-for-You” portfolio was well-informed and strategically aligned with the dynamic Australian market. By tapping into trending ingredients and consumer sentiments, the team was equipped to make data-driven decisions that not only met the evolving demands of health-conscious consumers but also positioned their products for success in the competitive confectionery landscape.
Outcome:
The team leveraged the framework constructed with Ai Palette’s platform to shape a robust new product development strategy. During the Annual Strategic Planning meeting, they presented data-driven recommendations to the broader company, providing a well-informed roadmap for successfully transitioning their product portfolio to a “Better-for-You” focus.
