Crushing the mediocrity conundrum
Stemming from a frustration of constantly encountering mediocre products, I started a company to help other companies experiment with their products and get consumers to actively participate by bringing them back into the feedback cycle.
But big companies fail to deliver – they heavily invest in marketing instead of serving consumers by innovating products that genuinely respond to the needs of their consumers. I began to dig deeper and realised that big FMCG companies are stuck in the last century; they still use outdated technology and were reluctant to overhaul their ways.To put it into perspective, the top 10 largest FMCG companies had net sales of roughly USD 360 billion in food and beverage.
But in 2017, they only spent a mere 3% on product innovation whilst marketing received a chunk of over 20%. That new and improved product you have your eye on has only new and improved packaging; the product is still the same.
So, while your smartphone has responded to consumer demands, food and beverage lagged considerably behind. At IntelligentX, we want to shift this status quo. Let’s create products that change the landscape by supporting different aspirations and responding to a spectrum of needs. And because staying still simply isn’t an option.
Let’s get started!
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