New Product Development at Newell RubbermaidAbout Newell RubbermaidSlide 35 Ways to Win Shape ActivitiesTwo Capabilities of Equal StatureFueling the Growth Game PlanIntroduction to the “Newell Innovation Funnel”Classifying InnovationMeasuring the quality of the funnelMoving through the FunnelWhat is GKM?Critical steps in the GKM processA Few HighlightsSlide 15Slide 16Slide 17Slide 18Slide 19Slide 20Slide 21cSlide 24October 6, 2014Monica Tyler, Director Brand MarketingChristin Fejervary, Senior Brand ManagerNew Product Development at Newell RubbermaidAbout Newell RubbermaidGrowth Game Plan into Action345 Ways to Win Shape ActivitiesMake brands really matterBuild an execution powerhouseUnlock trapped capacity for growthExtend our bordersDevelop a growth team5Two Capabilities of Equal StatureDevelopmentDevelopmentMarketing & InsightsAdvertisingR&DIndustrial Designe-Branding BuildingPublic RelationsDeliveryDeliveryGeneral ManagementCustomer Development / SalesPlanning / Supply ChainProcurement / SourcingManufacturingCustomer ServiceInterdependent and Equal in Importance6Fueling the Growth Game PlanInnovation Funnel8Introduction to the “Newell Innovation Funnel”778815157799992020991616779Classifying Innovation10Measuring the quality of the funnelMoving through the FunnelGKM: A Stage-gate® process12GKM = Gate Keeping Meeting (Newell’s Stage-Gate® Process)The aim of the GKM is to ensure an effective level of innovation to achieve the growth targets of the organization, using the most efficient allocation of scarce resources. The GKM has two primary roles: 1. Satisfying itself with the quality and quantity of innovation in the funnel 2. Approving the passage of projects through the funnel GKM is governed by executive leadership across key areas of the business:—Marketing, Sales, Finance, Sales, R&D, Supply chainConcerns all projects pertaining to innovation or renovation What is GKM?13Critical steps in the GKM processCHARTERCONTRACTLAUNCHIdea generationconceptsBusiness casescreeningdesignengineeringpackagingpricingpromotionsgo-to-mkt plansupply chain plantoolingqualitysell-inusage testingglobal campaignforecastpatent filingproductioncampaign executionPost-launch analysis14A Few HighlightsCHARTERCONTRACTLAUNCHidea generationconceptsBusiness casescreeningdesignengineeringpackagingpricingpromotionsgo-to-mkt plansupply chain plantoolingqualitysell-inusage testingglobal campaign extensionforecastpatent filingproductioncampaign executionanalysis15IDEA GENERATION1Short, factual description of a new product, explains what it is and what it does for the user16Ideation Exercise: Rapid Fire17CONCEPTS23clear consumer insight and point of difference, and explains rational and emotional benefits finalized concept clearly stating the consumer insight, point of difference, rational and emotional benefits and reasons to believe18CONCEPTSThe Insight should set up a clear, easy to understand and relatable consumer need The Benefit should respond directly to, and answer, the need or the tension or the gap expressed in the Insight The RTB should be a credible supporting fact that helps us believe the specific claim or assertion made by the Benefit – and not just a random, interesting feature of the product19A summary of performance across key measures indicates where the key strengths/weaknesses are for each concept. Database comparisons are from Ipsos’ relational database to provide an assessment of your concepts in comparison with the current market.A summary of performance across key measures indicates where the key strengths/weaknesses are for each concept. Database comparisons are from Ipsos’ relational database to provide an assessment of your concepts in comparison with the current market.SCREENING ExpensivenessExtent to which an innovation is perceived to be higher-priced than competitors. RelevanceExtent to which an innovation meets consumer needs.Extent to which the innovation provides unique benefits vs. competitors. DifferentiationHighMediumHighMediumMediumLowLMHH M MLLow20DESIGN21DESIGN22 GO-TO-MARKET PLANFPONEWAdvertising TV, DigitalNEW WebsiteNEW PackagingSampling3 NA FSIsNEWThemedPacksIn-store Display23 c24+4MM views on YouTube! +4MM views on YouTube! “Now I need to buy these for my kids!”“Now I need to buy these for my kids!”220.2MMTotal Impressions against target220.2MMTotal Impressions against target61.3%Total Reach against target61.3%Total Reach against target6.9Total Frequency against target6.9Total Frequency against target POST ANALYSISIncremental growth in key time periodsIncremental growth in key time