PepsiCo

PepsiCo

Building an innovation strategy for Foods

Context

PepsiCo’s Foods business knew the importance of breakthrough innovation to meet its high growth aspirations, but it needed to appropriately rebalance its investment between current business drivers and future growth opportunities. It asked Innovia to collaboratively devise an innovation strategy and generate internal alignment around that strategy.

Approach

We reviewed PepsiCo’s current commercial priorities through conducting staff interviews and reviewing internal documentation. We explored future growth areas through considering external trends, market insights, and emerging consumer needs. We identified focus areas, mapped likely changes across time, and organized them into strategic pillars to enable growth over three horizons. We facilitated numerous workshops to align around focus areas and identify priorities and synthesized and communicated the resulting information.

Impact

We created a strategy that incorporated both plans for the near term and for the breakthrough innovation. Our work resulted in more investment in the breakthrough enablers required to deliver the growth and helped PepsiCo to set aside less fruitful areas of research. Our client, a senior director of R&D said that he was “really impressed with the frame up, the analytics on the trends and the depth behind the focus areas”.

A thorough review of current PepsiCo priorities, industry trends and longer term drivers of change led to a set of focus areas.

A thorough review of current PepsiCo priorities, industry trends and longer term drivers of change led to a set of focus areas.

A series of stakeholder workshops enabled prioritisation of the focus areas considering consumer, technology and business criteria.

A series of stakeholder workshops enabled prioritisation of the focus areas considering consumer, technology and business criteria.