Looking for Innovation

Bob Dylan had it right—the times, they are a changin’. In an increasingly competitive consumer marketplace, manufacturers of all stripes are looking for the magic ingredient to attract interest while maintaining quality production standards and meeting bottom-line requirements. It’s a tricky balancing act, one that doesn’t always come to fruition.

At last month’s Natural Products Association MarketPlace trade show, the keynote speaker, Mike Huckabee, the former governor of Arkansas, relayed a story that offered some insight into that dilemma. While the story itself— involving his attempt at bobsledding when he was 100+ pounds heavier—was quite amusing, the take-away message resonated. Gov. Huckabee’s young brakeman advised him to “steer for the curves”. Don’t think about what you’ve just done because you can’t change it; don’t worry about the turn you’re already in because it will be over before you can make a correction. The key is to look at the next curve and make appropriate course adjustments now to be on target when you arrive.

We all know the hazards involved in spending too much time on mid-launch course corrections; however, we want to take action now, whether it’s addressing the reactionary market on trans fats or adding a hot new ingredient to a weight loss formula. While it’s important to be able to make adjustments, strategic planning to strengthen a company’s market position and deliver goods of the highest quality is even more so.

Perhaps equally important is leveraging partnerships to achieve long-term success. At the IFT Food Expo in late July, suppliers showcased cutting-edge product prototypes, often featuring specialty ingredients for their health contributions, designed to provide marketers with an option ready for market.

Suppliers are investing in market research, product testing and ingredient development, aiming to work synergistically on launching powerful new consumer products. And a lot of those product prototypes placed a great emphasis on health and wellness; the integration of the nutraceutical and food industries is moving forward rapidly.

Such integration will be on display again at SupplySide West in Las Vegas, Nov. 6 to 8. With more than 1,000 booths, a four-track education program offering more information on foods and cosmeceuticals, and outstanding networking opportunities, SupplySide is “where innovation begins”. I hope we’ll see you at SupplySide West; if you’re looking for more details on the show, log on to www.SupplySideShow.com/west. 

Best regards, 

Heather Granato 
Group Editor 
(480) 990-1101, Ext. 1305 
hgranato@vpico.com 

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