Product Development Success – Crayola

You would not expert an old company like Crayola to launch a company reinvention of itself – and to experience the successes they have.

The name of the Crayola was originally Peekskill Chemical Works –  founded by Joseph Binney in 1864. The company began producing school related products in 1900 – starting with slate school pencils. In 1902 they produced dustless school chalk, and then in 1903 they developed Crayola crayons – the product most of us are familiar with.

Until 2006, the company was in a rut.  Their products were popular during holidays and the back-to-school season – but inactive during the rest of the year.  Since their reinvention, the crayon maker has become a significant player in the toy-making industry.

So, what did they do?  They conducted a brand equity study. They found that their customers were bored with their products. The company decided to redesign their product development function and hired Prichard away from Pixar to reinvent their marketing and product development efforts.

Crayola has launched an image revamp as the crayon maker emerges as a serious toymaker. Before the end of the decade, sales of Crayola’s toys and uber-crafts may pass sales of its core line of crayons and drawing products, says CEO Mark Schwab.

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Highlights by David Willden