Book: New Product Development – A FMCG Perspective

As a consumer, every week, we discover new products. At Microsoft and RapL, I had worked with companies specializing in Fast Moving Consumer Goods (FMCG). At Starbucks, I observed closely the efforts from across the company to create and release new products. There is intense art and science involved in creating, launching, succeeding, and learning from FMCG. There is a high rate of failure in consumer products; it is even higher in the FMCG category including food and non-food items. I always wondered how companies and individuals can learn to improve the odds of success. 

This week, I had the pleasure to read Dr. K. Rajeshwari’s book: New Product Development – a FMCG Perspective. Dr. Rajeshwari studied engineering with me at the College of Engineering, Guindy, India. Later, she joined IIM-Ahmedabad to earn her MBA. She continued learning in her various marketing and sales roles at consumer companies and from her PhD work at IIT-Madras. In this book she brings a detailed literature survey blended with personal lessons to help us understand about the new product development (NPD) in FMCG industry. 

I like her approach the describe the NPD process and success measurement. She builds on this foundation to illustrate how the process is applied in a variety of settings including: entrepreneurial and mainline companies, food and non-food categories, and in wide ranging geographies and functional roles. It was illustrative to read the dozens of case studies included alongside the text. I also liked the frequent snapshot sections that gave a deep dive view into the craft of doing things. 

There is elaborate appendix that includes workbook and further deeper topics. It was incredible to note the 200+ books and articles referenced at the end of the book. She had dedicated hundreds (maybe even thousands) of hours preparing and authoring the book. I felt lucky to learn more easily. Some of the materials will serve as a reference for the future. I can also borrow some lessons and apply in the B2B new product development work that I am often involved with. 

Thank you Dr. Rajeshwari for authoring the book and giving the wonderful lessons.