Date: Thursday, December 9 2pm ET (11am PT)
Moderator: Kayte Hamilton, Director Innovation Center, InsightsNow
Panelists: Mimi Sherlock, Leader, Global Consumer Intelligence for the Nourish Division at IFF and Cheryl Stella Dalisay, President, Stellar Strategic Services, Inc
How often in life do you win big by breaking things?
Short of carnival games, this concept may seem out of place in the traditional business sense. Achieving successful innovation has more than one potential path to follow. One thing is guaranteed -- failure is expected -- and should be part of the new product development strategy. However, how that failure manifests within your team can make all the difference in the process. Is your team chasing ideas or being inspired by insight? Are you training to fail for a better reward? The difference likely impacts the approach you take to validate the strength the new product will have in the market.
In this panel, join us as we discuss strategies that can be used to fail faster as a unit. We will review a recent Innovation Center project with IFF regarding a new concept for modern wellness consumers. Topics will include everything from the challenges of accepting failure to the new product development initiatives, overcoming consumer perceptions for ideas that don’t yet exist, choosing innovation partners, establishing consumer research designs, and overall how to be agile when your team is in a completely new-to-the-world product space.
