Launching innovations during economic slowdown

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	Author(s): Mark Gillespie, Marcin Penconek Collection: Congress 2009 - Leading The Way - Ethically, Responsibly, Creatively Keywords: Innovation ESOMAR Congress 2009 Award Nominee - Best Case History

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As innovation is the engine of growth, it is important to continuously invest. But during challenging economic times, we face difficult decisions as manufacturers: Should we continue to invest in innovationor save money? Should we cut production costs? Reduce the advertising budget? To answer thesequestions, we studied recessionary times in a variety of markets over the past 30 years. After assessment,their advice is clear: be very careful with these choices and make sure that short term decisions are not counter-productive in the medium-to-longer term. The presentation investigates the key factors ofsuccess of new product launches in the FMCG sector in the context of the current economic situationand provides research-based guidance on launching innovations during economic slowdown.