1. Innovation – From seed to harvest

2. How to
innovate faster
and grow profitable brands
February 29th 2012

3. Before we get to the interesting stuff,
a bit of legal info about ownership:
Copyright Cogn8honey 2012.
Which means that unless permission is agreed
in writing from Honey, no part of this presentation
maybe reproduced, distributed, shared or posted
on any media, forum or format.
During the course of the presentation, visual material from a variety of
sources e.g. images and illustrations from Google images have been used.
All copyright, trademarks and image rights for these images reside with
the originator or brand owner. Therefore the images cannot be
reproduced, distributed, shared or posted on any media, forum or format
with out their written permission.
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4. Doug James - Managing Director
cogn8honey & honey
doug@cogn8honey.com
+44 207 354 4150
Phil Lawder - Innovation and Strategy Director
cogn8honey & honey
phil@cogn8honey.com
+44 207 354 4150
Please give us your business cards
and we will send you the presentation
Trademark, copyright, and image rights of Cogn8honey 2012 & or each individual brand owner, refer to page 2 of this document

5. Agenda
Scope of the presentation
2.Setting the scene
3.Distribution goals
4.Innovation brief
5.Growth plan
– Process / targets
– Routes to explore
6.Action plan
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6. The perfect brand - Growth strategy
To accelerate brands profitably and quickly, you need to:
3.Understand the market
4.Understand your brand
5.Find the point where market and brand can support each other
6.Set clear goals and targets
7.Understand your “go to market” trade marketing strategy
8.Be strategic with export opportunities
Develop a plan, invest in it and execute consistently
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7. The perfect brand
For a brand to work, it must be confident.
To get confidence, you need to:
-Define (know exactly what makes your brand stand
out and connect)
-Integrate (Ensure that everything – production, NPD (New Product
Development), technology development, sales, marketing, distribution
– is aligned to serve the brand ambition)
-Clarify (let customers and consumers know, in the simplest
possible terms, what that brand can do for them)
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8. Setting the scene
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9. Setting the scene - Background
• Tyrrell’s has a reputation for being a highly innovative brand
• Tyrrell’s brand has a clear point of difference and therefore
possesses the licence with consumer to stretch its footprint
• Current NPD pipeline was one of incrementalism rather than
bold step-change
• Opportunities to work with the retailers were not maximised
• The export business unfocused
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10. Setting the scene - Objectives
Need for NPD and distribution to drive growth
• Tyrrells’ is a classic discovery brand, creating and sustaining
newness is an essential feature of the brand
• NPD and solus deals will help Tyrrells’ engage with the trade
• The exit valuations will increase if Tyrrells’ has a track record
of substantial NPD
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11. Setting the scene – A crowded and undifferentiated
marketplace
• Distribution
- Waitrose and Independents
• Retailer partnerships
• Seen as a regional farm based crisp company…part of the pack
• Lacked credibility against Kettle as a national brand
• Difficult to gain traction with Sainsbury, Morrison's and Tesco
- no understanding of category strategy
• Independent channel constantly under threat from
me-too entrants
• A confused and opportunity led export strategy
- Tyrrell’s to reposition as market innovator
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12. Setting the scene - ‘Success’case studies
all share high NPD activity
Peer group examples
Green &
Blacks
Innocent
Dorset
Yeo
Valley
Core Adjacent Extend Focus Stretch
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13. Strategic objectives
Create a NPD programme which
Delivers sustainable profitable growth
• Profitable value chain
• Drives distribution with trade customers
Strengthens Tyrrells brand
• Helps retain our “challenger brand
status”
• Provides newness for our loyal consumer
brand advocates
BUT not do so at the expense
of ‘current business strategy’
• Priority must be to build distribution
and ROS of existing SKUs
• We should continue to develop
new flavours for independents
(and national accounts)
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14. Strategic framework
Brand and Product Development Plan needs to be holistic
Core Renovate New Adjacency
e.g. new packaging e.g. new flavour e.g. new category
Individual targets
Allocation of resources
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15. Strategic framework - Innovation brief
NPD needs to meet the clear objectives
2. To be consistent with and reinforcing of the Tyrrells brand values
3. To have a genuine point of difference, no point in “me toos”
4. To ‘own’ Tyrrells space e.g. if moving into new categories
to be highest premium and most artisanal / natural
5. To re-inforce direct/independent channel strengths
6. Sustainable margins - Commercials must stack up (trade margin, our margin,
size of opportunity)
7. Make Tyrrells more (or at least not less) attractive on exit to strategic buyers
8. A low risk “flanker strategy” preferred to high risk, education and development
of new category
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16. Strategic framework – Brand values
Style Personality
Proud Quirky
Conversational British
Attributes Benefits
Informal Carefully Confidence Witty
grown
Know the farmer Superior taste
Friendly Imaginative
Carefully made Ingredient flavour
Environmentally Connected
Earthy aware Cheeky
Ethical Enjoyment
Modern Passionate
Green Challenger
Tyrrell’s Essence - Enjoying food
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17. Growth plan - Routes to explore
Potential platforms for innovation
2. Packaging format
3. Flavour delivery e.g. sachets, real cheese, liquid balsamic
4. Consumption occasion e.g. chips and dips Within Core
5. Consumer age/gender e.g. kids,
6. Brand Shrink e.g. uncooked potatoes
7. Brand Stretch Sweet Snacking e.g. fruit snacks, strawberry chips
8. Brand Stretch Savoury Snacking e.g. Tyrrell’s savoury popcorn
9. Brand Stretch Potatoes Frozen e.g. Tyrrell’s potato wedges Outside Core
10. Brand Stretch Chilled e.g. Tyrrell’s potato salad
11. Brand Stretch Geography / Brand Values e.g. Tyrrell’s Hereford
apple juice, apple sauce
12. Etc…
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18. Growth plan - Process / targets
Brief needs to define
• Targets
– Sales (ROS and Distribution)
– Margin (Trade and Tyrrell's)
– Profit Contribution
• Team & Resource allocated
• Budget
• Reporting line and rapid decision process
• Integrated Project Management process to follow
and clear milestones
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19. Create more stand out for existing brand
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20. Create more stand out for existing brand
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21. Vegetable chips has suffered from incrementalism
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22. More personality and stand out on shelf
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23. Strategic framework
NPD Plan needs to be holistic
Core Renovate New Adjacency
e.g. new packaging e.g. new flavour e.g. new category
Individual targets
Allocation of resources
Trademark, copyright, and image rights of Cogn8honey 2012 & or each individual brand owner, refer to page 2 of this document

24. New format addresses a male orientated segment
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25. Strategic framework
Brand and Product Development Plan needs to be holistic
Core Renovate New Adjacency
e.g. new packaging e.g. new flavour e.g. new category
Individual targets
Allocation of resources
Trademark, copyright, and image rights of Cogn8honey 2012 & or each individual brand owner, refer to page 2 of this document

26. Introducing a category in the UK
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27. Action plan - Develop a trade marketing strategy
Develop a compelling narrative
1. Understand channel needs
• Multiples
• Independents
• Travel/Out of Home
2. Know retailer opportunities
• Category strategy
• Category gaps
• Listing windows
• Pay to Play cost
• Promotional Strategy
3. Execute strategy consistently
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28. The golden rules
• Do your homework
• Involve the retailers early
• Integrate everything single-mindedly
behind your brand
• Push like hell
• Know when you’re right, know when you’re wrong
• Never stop thinking
Trademark, copyright, and image rights of Cogn8honey 2012 & or each individual brand owner, refer to page 2 of this document

29. Any questions?
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30. Cogn8honey logo
Doug James - Managing Director
cogn8honey & honey
doug@cogn8honey.com
+44 207 354 4150
Phil Lawder - Innovation and Strategy Director
cogn8honey & honey
phil@cogn8honey.com
+44 207 354 4150
Please give us your business cards
and we will send you the presentation
Trademark, copyright, and image rights of Cogn8honey 2012 & or each individual brand owner, refer to page 2 of this document