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Briefing
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- Lean Strategies – Procter & Gamble reinventing its global consumer goods business by working with consultants Steve Blank and lean startup proponent Eric Ries since 2014 to refocus and trim down product lines, and release new products faster
- Sample Lean Efforts – Has cut 100 brands since 2012, and hastened time-to-market with Pampers Pure, which took 18 months, compared to 10 years for Pampers Swaddlers
- Incubator Program – Started P&G Ventures in 2014 to incubate new solutions not related to existing P&G brands, planning to introduce four new products by end of 2020
- New Products – Include natural insecticide Zevo, organic lotion Bodewell for psoriasis and eczema, new product line Kindra for helping women with menopause, and device Opté for applying makeup and anti-aging serums to age spots
- Development Focus – P&G Ventures focused on three segments: urban Millennials, aging Baby Boomers, and Chinese middle class, and trends such as natural products, devices that anticipate individual needs, and managing scarce resources like clean water and personal time
- Innovation Challenge – Four finalists of its 2020 Innovation Challenge include skin care companies DermaMedics and Rubitection, neuromodulation wearable founder Sana, and anti-snoring solution creator SomniFix, with winner receiving $10,000 cash prize and guidance from P&G experts to grow their business
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Market Disruption
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Business Model and Practices
Business Model
and Practices
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Sector
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Consumer Non-Durables, Healthcare/Health Sciences
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Function
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Marketing and Business Development, Research and Development
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Organization
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DermaMedics, Procter & Gamble Co., Rubitection, Sana, SomniFix
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Source
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Original Publication Date
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February 13, 2020
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