Everyone is familiar with Kraft Foods, and their well-known products Oreo cookies and
Miracle Whip dressing. But as it turns out, the company is in somewhat of a funk of late. Profit is down 24% over the past two years, and the company is closing plants and releasing workers. One problem is Kraft’s lack of successful new products. There last hit was DiGiorno pizza—now ten years old. According to
The Wall Street Journal (paid subscription required,) the food giant has decided to turn to customers for inspiration. Under a new program tentatively called
open innovation, Kraft will be accepting and reviewing unsolicited product ideas from customers. Details are still in the works, but will be revealed on the company website. Maybe you can create the next Fig Newton.
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