Wrigley's: Innovation in China's Confectionary Market

In: Business and Management

Submitted By naturner86
Words 2092
Pages 9
Wrigley’s:
Innovation in China’s Confectionary Market

Student: Natalie Dianne Turner (s3113000)
Subject: Product Innovation (MKTG 1311)
Due Date: COB 14th August 2012
Word Count: 1848
Contents

The Role of Product Innovation for Wrigley’s in the Asian Market | 3 | | | Analysis of Wrigley’s Products and Innovations | 4 | | | Analysis of Wrigley’s Innovation Strategy in China | 6 | | | Opportunities and Challenges Faced by Wrigley | 7 | | | Innovation Strategy for Next 5-10 Years | 8 | | | New Product Development – Wrigley’s Bubble Doublemint | 10 | | |

The Role of Product Innovation for Wrigley’s in the Asian Market
Product innovation has been the key driver for Wrigley’s success, and China has been no exception. Given the large population (four times that of the US1) and the comparatively low consumption numbers (10-15 servings per person annually versus 90-100), growth in China showed the greatest potential for further success. Wrigley gave their Chinese consumers a reason to chew by recognising cultural facets (traditional Chinese flavours and medicines) and trends in health benefits (obesity and oral health), and then innovatively developed product lines in ways which would appeal to a wide variety of segments.

Going forward from 2008, the decision to join forces with Mars, further reiterated the importance Wrigley’s placed on product innovation and the potential that Mars global president Paul Michaels must have recognised. He stated that both Mars and Wrigley’s share a commitment to innovation and would continue on the path of growth by jointly developing these values even further.

Wrigley’s commitment to innovation was further exemplified by their decision to invest in a Global Innovation Centre which could aid the company in continued significant advancements. In addition, The Wrigley Science…...

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