Condition-specific versus multifunctional. This juxtaposition in product development approaches has been on mind for a while now. There are so many considerations at play here coming from both the brand-level and supply side of the supplement industry, but also with how it all interacts to consumer behavior. So, what’s the future of product development within the supplement industry heading towards?

In today’s business world, it’s hard to come up with an original thought. Once you acknowledge that, you start seeing things through a remix-filled point of view. The secret behind current innovations at CPG brands like Quest Nutrition and Snickers are that they’re rooted in remixing the past…their own past, well before most of its fans today knew about the original product offerings.

Competition is a central driver in business. Many see competition through a “winner takes all” lens, but that’s a mistake in the CPG industry. Instead, today’s businesses would be best served if they made friends with the competition. This article will explain the strategic concept that I’ve dubbed “brand new friends.”

The importance of developing functional CPG products based on customer needs is a no brainer, yet too many brand owners start their perspective, instead of a customer perspective, when coming up with new products. This is a major problem and one that can be fixed by implementing a demand side innovation strategy.

New innovations are impacting the CPG business landscape at a substantial rate, and businesses need to move swiftly to keep pace as the market evolves. That’s why you must consider putting yourself out of business before someone else will.