Task 1. Evaluation of current innovations: Critically evaluate any two current innovations selected from your allocated ’Product category’ within the Australian marketplace.
Hints: Apply theoretical/conceptual understanding from chapter 1. Critically evaluate & apply any aspect/s of innovation, consider the source/s of innovation, identify and argue in favour of the type of innovation, explore the dimensions of innovations, …etc. You may compare and contrast any two successful innovations, or one successful innovation versus one failed innovation, …etc. The aim is to illustrate good innovation insights and understanding of your allocated ’Product category’ within the Australian marketplace.
Our teams allocated brand Nestle have been very innovative and successful over the years in the Australian marketplace. Nestle as a whole company has many different brands they they manufacture and sell products under. Our team has been assigned to analyse 2 innovations from Nestles chocolate product range, which is one of the company’s major drivers of innovation due to the resources and processes involved in the manufacturing of their chocolate products. One of the major recent innovations within Nestles chocolate products would be the introduction of cacao pulp in their Kit-kat chocolate as a natural sweetener. This new Kit-kat chocolate from Nestle is very innovative as it shows the company’s ability to add value to their products from an idea. We can see many elements of innovation present in the cacao pulp Kit-kat chocolate, such as the creation of a new opportunity where nestle are the first to trial this new type of healthier sugar/flavour alternative,bringing a new healthier product to the shelves for consumers. The idea and introduction of the cacao pulp Kit-kat chocolate could also be seen as Nestle improving their operations, as the company could potentially be reducing expenditure on raw materials such as sugar, replacing it with the cacao pulp. At the same time giving the farmers of this cacao pulp additional income for a product that would normally be wasted.
“The company says it intends to source pulp from other regions, including Africa… which supports smallholder farmers”, “ (Cooper, B., 2019). This extract from one of my sources about the cacao pulp Kit-kat, shows Nestles attempt to better serve the community, while creating their new innovative product showing an even deeper level of innovative thinking. Nestle have been able to introduce this new incremental innovationaddressing not only consumer needs identified in the market for healthier products, but they have alsoaddressed social needs and needs of the business. These factors alone show the successful innovative nature of the cacao pulp Kit-kat idea.
Another recent innovation from Nestle would be the introduction of their new Institute of Packaging Sciences. This current innovation links closely to the first innovation we have discussed above. It however shows different thinking processes and aspects of innovation as it is more of an internal process/asset to the company rather than a final product. Nestle with this new innovative idea have disrupted the market as the facility is one of a kind, being focused primarily on developing new packaging solutions to nestles chocolate and other products. This innovation may be internal to the business but it is a process necessary for Nestle to attract new customers and open new opportunities in the market through environmentally alternatives to their products. Once again Nestle can be seen addressing consumers, the business and the world as a whole, as they are expanding their target market to environmentally conscious consumers, reducing waste and giving the company a better positioning in the consumers minds. “Our vision is a world in which nine of our packaging ends up in landfill or as litter” (Nestlé, 2020). These aspects of innovation present in yet another one of Nestles ideas shows the successful innovative thinking of the company in their processes and products.
Both of these innovations from Nestles chocolate product range show their ability to manage their innovative ideas as a process. Recognising the opportunity in the market, finding the correct resources to develop these ideas and then combining all of the resources and ideas together to create value to the innovation. Both innovations discussed above show different aspects of innovative thinking that lead to them being very successful and innovative.
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