By Vicki Matranga, Design Programs Coordinator
Learn how to develop and launch the right products for the right customer—with the right methods! Be sure to attend some of the free executive-level educational sessions at the Innovation Theater. These programs will give you a new perspective as you walk the Show and will inspire, inform and improve your business.
The four days of the 2015 International Home + Housewares Show will be packed with events and educational sessions. To help you plan your valuable time at the Show, we preview presentations that will take place in the Innovation Theater in the Lakeside Center.
Beat the Odds: How to Win the New Product Game
Sunday, March 8, 3:30 – 4:20 p.m.
Innovation Theater, Lakeside Center, E350
Today we are speaking with A.J. Riedel, who heads Riedel Marketing Group (RMG), based in Arizona. For more than 22 years, A.J. has been helping housewares companies make their tough product and marketing decisions so they can accomplish their business objective and make their numbers. Housewares manufacturers—Fortune 500 corporations, smaller privately owned companies and inventors—seek her help. Past and current clients include Cuisinart, Jarden, DKB, Newell Rubbermaid, Progressive International, Chef’N, Jokari, Dexas and Bradshaw. RMG specializes in the housewares industry, so her clients trust her expertise in market dynamics, distribution channels, history and trends, marketing issues and challenges, and consumer purchasing behavior and expectations.
Known for her research and analysis expertise, A.J. has extensive experience with consumer online surveys, product concept tests and development input, market and competitive assessments, and home-use tests. She provides clients with “Actionable Insights,” addressing not only the “what” questions but also the “so what” (as in, what are the ramifications of the data) and “now what” (what do we do because of this study) questions. Backed by in-depth research, RMG’s clients can make the most informed decisions for their respective companies and products.
What is the most exciting or rewarding part of your job?
I am delighted when my clients enjoy new product success because they developed a product that met consumer needs or solved consumer problems better than other available products.
What inspires your passion in your work?
I believe that the secret to new product success is to introduce new products that satisfy consumers better than the products currently on the market. I help housewares manufacturers to: 1) gain a profound understanding of the people who buy and use their products and 2) integrate consumer feedback into the new product development process which leads to successful launch and profitable growth.
In the past few years, what has changed most in your business? How has your company met these challenges in the way you do your work?
During the recession and years of slow recovery, housewares manufacturers cut back on – or eliminated – consumer market research. Now that the economy seems to be improving, they are starting to spend again. I used the time to develop Market Tracker, an in-depth quarterly report providing essential insight into the what, where, why and how of Americans’ buying decisions nationwide. Now, companies who manufacture, market and sell cookware, bakeware, kitchen gadgets and tools, and home storage and organization products can get a comprehensive picture of their market all in one report. Within five years, I expect to be able to offer Market Tracker reports for all of the major housewares product categories.
Why did you choose to speak at the International Home + Housewares Show?
I chose to speak because the new product failure rate in the housewares industry is too high. Too many housewares manufacturers, entrepreneurs and inventors develop and launch new products without getting any input whatsoever from the people who will be buying and using those products. Because they haven’t integrated consumer feedback into their new product development process, they are wasting hundreds of thousands of dollars on new product development and tooling and bring new products to market that consumers don’t want and won’t buy.
Tell us what you will be speaking about and how and this topic is important for Show audiences.
In “Beat the Odds: How to Win the New Product Game” I’ll discuss how launching a product is like playing blackjack in Las Vegas. The odds are not in the manufacturer’s favor. There are changes housewares manufacturers, entrepreneurs and inventors can make to their new product development process that will improve their odds of success and improve their return on investment.
You’ve presented in the Innovation Theater several times before. What are you looking forward to most from speaking this year?
Interaction with the audience, having the opportunity to educate them, but more important, having the opportunity to exchange ideas and insight.
What do you see as consumers’ biggest concerns regarding housewares products?
There are too many “me-too” products that are just like all the other products in the category except they look a little nicer or are a trendy color. They don’t make the consumer’s life any easier. They don’t save them time, effort or money. Many housewares manufacturers are out of touch with their consumer.
What are some of today’s trends or issues that new product development professionals and/or retailers face in the housewares market?
For new product development professionals: The maker revolution and crowd funding are fundamentally changing the way new products are developed and introduced. It is getting easier for inventors with great ideas to bring them to market. The balance of power between established entrenched housewares manufacturers and inventors and entrepreneurs is shifting.
For retailers: The growth in online shopping that threatens the business of brick and mortar retailers. How to succeed as an omnichannel retailer. How to reduce showrooming by making the shopping experience experiential.
Thank you, A.J., for giving us a preview of what you will discuss at the Innovation Theater, Sunday, March 8 at 3:30 p.m. We look forward to learning from your insights and experience.
Learn more about Riedel Marketing Group at www.4rmg.com or contact AJ directly via
(602) 840-4948
