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New product vitality index

30% of total sales of 3M in any year comes from new products that are less than five years old

Ambi M G Parameswaran 

Ambi M G Parameswaran Here is a quick question. What percentage of sales of your company comes from products [and let me allow you the freedom of including even SKUs] that have been launched by your company in the last five years?   You have your answer ready. Well, there is no perfectly correct answer.

But 3M, which developed the concept of New Product Vitality Index [NPVI], claims that they average 30 per cent. That is, 30 per cent of the total sales of 3M in any year comes from new products that are less than five years old. Remember, 3M probably has well over 50,000 products in its armoury. And to hit ...

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First Published: Fri, August 18 2017. 22:32 IST
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