Innovation – From seed to harvest From Transaction To Nurture A way to build profit through partnership Doug James Managing Director cogn8honey It’s all about innovation • Retailers are starting to use innovation to define their offer • They have very little in-house resource • This presents opportunities 3 Legged Stool Distributor/ Major multiples Customer/ Consumer Manufacturer/ owner Central Innovation Team ‘Our approach to Innovation’ David Hamilton Innovation Director Central Innovation Team Core Transactional Day to day volume. Deal done no follow through, limited relationships. Ground Hog Day. Partnerships Driving wins together. Nurture Cultivate, develop and look after. Changing consumers perceptions by answering their negative views. Case study. It’s not that easy…. … but it is possible • Structured innovation programme – Define your area of expertise – Develop a cohesive innovation strategy – Give it focus and priority (and funding), without which it will not work – Make the retailers your partners – Stick with it Processes Internal process Opportunity Mapping Product Proposition Brand Proposition Branding Market Entry Maintenance External process Trade Insight Trade Story Trade Market Entry planning Retailer Engagement Launch Nurture or Partner Relationship Thank you Any questions?