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With
thousands of new items introductions and consumer budgets strained more
than ever, 2008 was a particularly challenging year for new product
launches. Yet, some manufacturers were able to overcome both the poor
odds and the economy to achieve successful year-one sales.
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Sustainability has established a firm and growing presence in the world of consumer packaged goods. The evidence of this abounds. CPG companies are working to construct more energy-efficient and “green” manufacturing and retail facilities, leverage environmentally friendly manufacturing processes, and upgrade transportation fleets using low-emitting and fuel efficient vehicles. From concentrated cleaners, to natural health and beauty products to organic food and beverages, the CPG universe is becoming increasingly green.
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Join Schneider Associates, Mintel, and IRI as we talk about the top 10 product launches of 2008, as determined through the Seventh Annual Most Memorable New Product Launch Survey. We’ll discuss what made these products memorable to consumers as well as the latest consumer purchasing and behavioral trends.
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A Market Re-Defined by Budget-Strapped Consumers
The year 2008 may be gone, but it is definitely not forgotten. It will go down in history as the year the United States entered the most significant economic recession since World War II. This recession will last well into 2009, and possibly beyond. Every American has felt the impact of the country’s economic battle. Across age, income, and ethnicity breaks, consumers have been forced to make substantial changes to their everyday lives and shopping habits to stay afloat in a recessionary economy. Changes have been broad and deep…and rapid.
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For CPG marketers, changes in consumer shopping rituals brought about
by the weak and uncertain economy have made the already difficult task
of staying abreast of consumer attitudes and behaviors even more
difficult - and critical. Financial conditions have driven consumers
to re-evaluate old shopping habits and brand loyalties, resulting in an
escalating evolution of attitudes and behaviors across trip missions.
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