Successes and Failures Case Study: American Honey

Published by: Datamonitor

Published: Sep. 28, 2012 - 8 Pages


Table of Contents

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Abstract

Introduction

Effective innovation is difficult to come by, but it is the key to sustained competitive advantage in the consumer packaged goods industry. Lessons can be learned from both successes and failures. This case study looks at how American Honey, a honey-infused bourbon, succeeded at creating a new category for flavored bourbon, which encouraged younger drinkers to try the liqueur.

Features and benefits
  • Access comprehensive analysis of global successes and failures in the consumer packaged goods industry to drive ideation and inspiration.
  • Obtain country-specific consumer insight to understand the consumer attitudes and needs that underpinned innovation success/failure.
  • Avoid costly investments by learning important lessons from companies and brands that have failed or under-delivered.
  • Obtain a broader appreciation of the consumer packaged goods industry by gaining insights from both within and outside of your category.
Highlights

Around 80% of new product innovation fails, highlighting the challenge that industry players face in innovating in today's competitive market landscape. Failed innovation can severely undermine profits and brand reputations. Conversely, the rewards for successful innovation are substantial.Datamonitor is constantly monitoring the big winners and losers in the consumer packaged goods industry. Each case study contains background information, describes how developments unfolded, and is contextualized by Datamonitor's own research and analysis.Keywords: success, failure, CPG, FMCG, innovation, marketing, promotion, alcoholic beverages, bourbon, whiskey, liqueur, Wild Turkey American Honey, spirits, whisky.

Your key questions answered
  • What makes a product a success or a failure?
  • How can I apply these learnings to my product or brand?
  • What consumer insight underpins this?


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