Why do Consumer Products Companies Keep Changing Successful Products?
Consumer products companies often feel the need to innovate and change products that consumers have been using happily for decades. However, this constant need for change can sometimes lead to backlash from loyal customers who prefer things just the way they are. This article explores the risks and consequences of unnecessary product changes through a case study involving Gillette and Schick.
A Case Study
The author shares a personal experience of being a loyal user of Gillette’s shaving gel until the company decided to change the fragrance of the product. This change led the author to switch to Schick’s Edge brand, only to face a similar disappointment when Schick also changed their product. The author highlights the importance of understanding customer preferences and the potential revenue loss associated with unnecessary product changes.
The Key Lessons from This Story
The article emphasizes the importance of conducting market research before making significant changes to a successful product. It warns against the dangers of constant innovation for products that are already well-loved by consumers. Using examples like Heinz Ketchup and Oreo Cookies, the author stresses the value of maintaining the essence of a product that has already captured the hearts of its customers.
Closing Thoughts
The author concludes by reflecting on the lessons learned from the case study and the implications for both Gillette and Schick. The importance of understanding customer needs and preferences is highlighted as a crucial factor in maintaining a successful product in the market. The article ends with a reminder of the significance of staying true to the core elements that make a product beloved by its consumers.
Frequently Asked Questions
- Why do consumer products companies feel the need to change successful products?
Consumer products companies often feel compelled to innovate to stay competitive in the market, but this can sometimes lead to backlash from loyal customers. - What can companies learn from the case study involving Gillette and Schick?
Companies can learn the importance of understanding customer preferences and conducting thorough market research before making significant product changes. - How can companies avoid revenue loss from unnecessary product changes?
By listening to customer feedback, conducting market research, and ensuring that any changes made to a successful product align with consumer preferences. - Why is constant innovation not always the best strategy for consumer staples?
Consumer staples are products that consumers already love and rely on, so unnecessary innovation can alienate loyal customers and lead to revenue loss. - What are some examples of successful consumer staples that have remained unchanged?
Products like Heinz Ketchup, Oreo Cookies, Welch’s Grape Juice, and Ticonderoga Pencils have remained successful by staying true to their original formulas and not succumbing to unnecessary changes. - How can companies balance innovation with maintaining successful products?
By understanding the core elements that make a product successful and innovating strategically to enhance those aspects without alienating loyal customers. - What are the risks of not conducting market research before making product changes?
Without market research, companies risk losing revenue, customer loyalty, and market share by making changes that do not align with consumer preferences. - How can companies recover from unsuccessful product changes?
By listening to customer feedback, acknowledging mistakes, and reverting to the original product formula if necessary to regain customer trust and loyalty. - What role does customer feedback play in product development?
Customer feedback is essential for understanding consumer preferences, identifying areas for improvement, and ensuring that product changes align with customer expectations. - Why is it important for companies to stay true to the essence of their products?
By staying true to the core elements that make a product successful, companies can maintain customer loyalty, market share, and revenue while avoiding unnecessary risks associated with unnecessary changes.Tags: Consumer Products, Innovation, Market Research, Product Development, Customer Feedback, Revenue Loss, Customer Loyalty, Success Stories, Case Studies
