Graco 2007 Annual Report Download - page 16

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Next steps:
Generating sustainable growth
We are developing best-in-class, brand-building capabilities and practices that
drive superior growth. This process will be enabled by common brand-building
frameworks and processes that are deployed across our consumer, commercial
and industrial businesses globally.
14
Endicia, acquired in 2007 to expand our office
products platform, is the trusted leader in Internet
postage, saving time and money for consumers.
Increased Consumer Insight
Deep end-user insights are becoming
a primary driver of business decisions.
We are increasing our use of proven
research techniques to gain a superior
understanding of our consumers and
how they relate to our brands. From
these proprietary insights, we develop
well-grounded and focused brand
strategies that are compelling,
differentiated and ingrained
within the organization. We use
insights to help us focus on those
consumers who matter more
to the category and to our brand –
those toward whom we can target
our marketing efforts to dispro-
portionately grow and
strengthen our brands.
Innovation
Newell Rubbermaid is bringing
greater discipline to the innovation
process. We have enhanced our
ideation and discovery capabilities,
allowing us to identify important
unmet consumer needs that can form
the basis for new product platforms.
Once a discovery space is identied,
we rapidly formulate and iterate con-
cepts to nd the best way to address the
unmet need, leveraging our knowledge
of the consumer and the marketplace.
Promising concepts are tested and
rened with consumers. The best con-
cepts that emerge are then developed
into prototypes and tested again with
consumers in structured and in-home
environments. Pricing is optimized
based on what the consumer is willing
to pay for the benet the product
delivers. We then work backward from
a desired margin to identify a target
cost and formulate a supply strategy.
By following this well-dened process,
we are ensuring the introduction of
innovative new products that meet
consumer needs and strengthen our
consumers’ emotional relationship
with our brands.
Successful Commercialization
Successful commercialization requires
investment and critical evaluation
to develop and implement marketing
Sharpie made its successful debut
in the United Kingdom during 2007.