Abstract:

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 innovation or save money? Should we cut production costs? Reduce the advertising budget? To answer these questions, 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 of success of new product launches in the FMCG sector in the context of the current economic situation and provides research-based guidance on launching innovations during economic slowdown.