With the high failure rate of new product introductions, new thinking about the innovation path that employs a more systematic, rigorous approach has emerged.

Before engaging in brainstorming sessions to come up with new ideas, savvy clients are first making sure that they are pursuing the strongest areas of opportunity. That's where prospecting comes in. Prospecting is an important step in the innovation process that serves as a bridge between innovation strategy (platform identification) and idea generation. Prospecting is the process of delving deep into the platform areas to generate consumer insights so that marketers can determine which areas they want to explore for new ideas.

Prospecting seeks to identify undercapitalized consumer segments, under-leveraged trends, unmet consumer needs, and competitive vulnerabilities within the strategic platform areas. The goal? Insight identification leading to the best opportunity areas to pursue.