Consumer Packaged Goods (CPG)

Innovation in Consumer Packaged Goods (CPG) Organizations

Consumer packaged goods companies understand that innovation is critical for the business, not only as a revenues growth engine, but also for creating a competitive differentiation and strengthening the company’s brand.

Innovation is a multi-disciplinary and cross-functional process, especially when it comes to CPG organizations. The innovation process must involve different divisions in the company such as sales, marketing, operations and R&D, as well as additional functions across the value chain such as distributors, retailers, manufacturers and even existing and potential customers.

Each function involved in the innovation process may contribute knowledge and expertise from a different discipline, creating a powerful resource of ideas and opinions. This network of resources requires a solution that can manage the innovation process in a simple yet effective way.

Each function involved in the innovation process may contribute knowledge and expertise from a different discipline, creating a powerful resource of ideas and opinions

Qmarkets’ Solution for CPG Companies

As an industry leader in idea management solutions, we are familiar with the challenges that consumer goods organizations are facing on a daily basis: increase in the operation costs, rising complexity of the value chain, and constant demand for product innovation to enhance the brand sales and keep customers engaged.

For CPG organization Qmarkets recommends a combination of two innovation models, both can be implemented using the Qmarkets platform:

Open innovation for CPG companies

Open Innovation for New Products and Markets Ideas

The open innovation method assumes that organizations can and should use external and internal ideas as a source of innovation.

The Qmarkets platform enables you to create an online community of employees, customers, prospects and additional stakeholders all focused on one goal – gathering innovative ideas for the organization. The platform’s administrator can makes sure the suggestions and discussion stays focused, by defining very specific topics for brainstorming, creating structured form for ideas submission and moderating the discussions.

Once the ideas are gathered, the platform helps you manage the lifecycle of the ideas. From recognizing the best ideas, to detailed analysis using experts and focus group, until the best ideas are identified and developed to new innovative projects.

Process Improvement

Complex and expensive processes are part of CPG organization daily routine: sales channels management, point of sale strategies, orders management, sales promotions and customer loyalty plans are just a few examples. Those business processes often involve many different functions and departments inside the organization. 

We believe that many of the business processes have room for improvement, that can lead to  cost reduction, increased efficiency and improved customer satisfaction. However, when so many functions are involved, sometimes it is hard to see the full picture.

Qmarkets platform can be used for review and analysis of company processes, making sure all the right people are involved, regardless of their locations, titles or even language.

Each process can be a separate “challenge” in the platform, and can be open for ideas submission and discussions by all the relevant departments. After the ideas are submitted they are managed by the platform end to end, following a predefined workflow. The workflow may include further review of experts or management, a second round of rating and voting session by dedicated workgroups or evaluation by other departments.

Qmarkets Advantages

  • End-to-end management of the idea lifecycle
  • Flexible workflows, allowing you to use the platform to achieve different goals
  • Cross functional idea management – assuring the right people are involved at the right stages of the process
  • Intelligent Idea Screening & Evaluation
  • Customized home page design, all fitted to your branding and specific requirements 
  • User friendly frontend and backend