Strategic Portfolio Study & 60-Idea Innovation Catalog for Orkla
Unlocking Growth Through Portfolio Strategy and Consumer Insights
In 2022, we conducted a comprehensive portfolio study for Orkla with the objective of identifying high-potential innovation and growth opportunities. This study provided a strategic foundation for developing a structured innovation roadmap, ultimately leading to the creation of an idea catalog containing 60 innovative product concepts.
The portfolio strategy aimed to:
Identify the most attractive market needs and situations, considering future consumer preferences.
Establish a data-driven decision-making framework to determine which categories should be developed, acquired, or phased out.
Ensure a competitive and efficient portfolio, generating both short-term and long-term value for consumers, shoppers, customers, and Orkla Denmark.
Through a structured seven-step approach, we gathered insights on trends, category performance, consumer needs, and strategic growth opportunities, ensuring a strong foundation for innovation.
Seven-Step Approach to Portfolio Development
The portfolio study was conducted together with Orkla and parnters using the following seven strategic phases, each contributing to a comprehensive understanding of the market and innovation potential:
Ambition: Orkla’s overall strategic direction and business focus.
Trends: Identifying the most dominant food trends in the market to align with future demands.
Performance: Evaluating Orkla’s existing product categories to assess their current performance.
Categories: Understanding the characteristics of the nine supercategories and their market positioning.
Consumer Needs: Mapping consumer demand spaces and identifying key growth opportunities.
Growth Strategies: Defining where to play and how to win, ensuring a strong competitive position.
Implementation: Establishing the necessary capabilities and management systems to execute the strategy.
Development of a 60-Idea Innovation Catalog
Based on insights from the portfolio study, we developed a comprehensive idea catalog containing 60 innovative product concepts that aligned with Orkla’s strategic objectives.
The ideation process was driven by four key elements:
Consumer Insights: Understanding how consumer preferences and behaviors were evolving.
Market Trends: Leveraging key food and beverage trends to ensure relevance and demand.
White Space Identification: Pinpointing unmet market needs and opportunities for category expansion.
Portfolio Strategy Alignment: Ensuring that new product ideas were strategically aligned with Orkla’s new portfolio strategy.
By leveraging deep consumer insights and market trends, Orkla was able to identify high-potential innovation opportunities that would enhance its competitiveness and long-term growth.
Conclusion: A Data-Driven Innovation Roadmap for Orkla
The strategic portfolio study and resulting idea catalog provided Orkla with a clear and structured approach to innovation. By focusing on consumer needs, emerging trends, and white space opportunities, the study enabled Orkla to develop a competitive and forward-thinking product portfolio.
This approach not only secured the position in the market but also created long-term value for consumers, shoppers, and business partners. The combination of portfolio strategy and innovation ideation allowed Orkla to take decisive steps toward sustainable growth and category leadership.