5 Reasons Why You Need a New Product in Your Brand

1. www.rockline.co.uk
5 REASONS WHY YOU
NEED A NEW PRODUCT
IN YOUR BRAND
Discover how new product ideas can combat loss of
market share and increase customer satisfaction.

2. www.rockline.co.uk
Since the recession, premium consumer packaged
goods have drastically lost market share. The average
company loses 20-40% of its customers each year.

3. www.rockline.co.uk
Discover why adding a new product idea to your
brand is the smart and cost effective way to recover
loss of market share with the following 5 reasons.

4. www.rockline.co.uk
1. Market share
Premium-priced branded packaged goods are failing to grab market share.
52% of consumers who were loyal to a particular packaged goods brand
became less loyal during the recession.
In the past two years, 18% of packaged goods bought were low-priced brands.

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2. Customer loyalty
If a brand extension with new product ideas is done right,
it can create favourable conditions to make a customer
loyal again. A customer satisfied by a brand extension will
have a greater tendency to repurchase the same brand.

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3. Increase quality
When you extend your brand with
new product ideas, you extend your
quality to where it didn’t exist before.
Consumers will love that your
proven quality makes their everyday
choices easier by eliminating risk
and uncertainty from their purchase.
New product ideas remind
consumers that you are thinking of
them and anticipating their needs.

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4. Grab their attention
One of the most difficult challenges brands face today is
grabbing and holding consumers’ attention. Today, the average
customer is hit with 30,000 commercial messages a day.
That figure continues to grow.

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Doing something new and different, like adding
new product ideas to your brand, gets you noticed.
It’s brave, exudes confidence, creates buzz and
keeps you at the top of consumers’ minds.

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5. The need for evolution
The market is becoming increasingly
dynamic. Brands that don’t evolve
won’t stay in it. Brands need to be
able to compete with rivals and
successfully move into new niches.

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The addition of a new product to a diversified but
well-integrated and focused product portfolio can:
Boost profits by increasing market share quickly
Increase brand awareness
Reinforce the parent brand by reinforcing brand identity

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Find out the best way to introduce
your new product to grow your brand
effectively with our free eGuide:
Your FMCG product
portfolio growth plan
Download your free eGuide