Ipsos InnoQuest*Tracker: Take Control of New Product Performance

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Information about Ipsos InnoQuest*Tracker: Take Control of New Product Performance

Published on February 23, 2016

Author: TSLim4

Source: slideshare.net

1. Take Control of New Product Performance Innovation doesn’t end once a new product is launched. We know our clients keep a close eye on their new product’s performance, often using panel data to monitor sales, trial and repeat. When new launches don’t meet financial objectives, it is critical to find out exactly what is causing the problem – and not make assumptions about what is going wrong. At Ipsos InnoQuest, we help our clients to identify consumer motivations as well as deterrents to trial and repeat for new products within months of its launch. This enables our clients to take immediate action to meet their launch objectives. We provide the information needed to enhance your merchandising or modify your marketing mix – including product, packaging, pricing, and advertising – even while your trial rate is still relatively low. While syndicated data reports the level of a product’s market performance, we focus on the whys of your product’s performance, so you can leverage your new product’s strengths and correct its weaknesses right away. Copyright ©2016 Ipsos. All rights reserved. 1

2. Ipsos InnoQuest offers InnoQuest*Tracker to help you leverage early consumer feedback to guide new product success. During a new product’s first year in market, it is often easy to identify trial and repeat rates but not so easy to determine the underlying factors driving your trial and repeat rates. Until now, new product buyers have been too hard to reach objectively and efficiently. Yet, it is precisely those buyers who hold the insights into why your product is meeting expectations or not – insights you need to further enhance a successful product’s journey or steer your product toward success. InnoQuest*Tracker provides you with in-depth, actionable information including: • Consumer motivations for trial and repeat... enabling you to build on your strengths. • Potential barriers to trial... including lack of consumer interest, low brand awareness, pricing issues, poor visibility in the store and more. • Potential barriers to re-purchase... including product weaknesses and dissatisfaction About Ipsos InnoQuest Ipsos InnoQuest helps clients accelerate innovation for today’s changing world. We help clients to kick-start their innovation processes with overnight and mobile solutions, uncover deep consumer insights with our online communities, and quantify business potential right from the start. Our fast and simple solutions, validated forecasting models and real-time simulators are built on our consistent philosophy of what drives innovation success – so clients can make better decisions earlier. Unique to Ipsos InnoQuest is our ability to combine optimization with qualification across all of our end- to-end solutions, enabling clients to maximize the ROI of their innovation initiatives and product research and development. With unparalleled global reach and expertise across a wide range of sectors, we offer fast, simple, smart solutions that lead to more successful innovation and increased speed to market. Visit www.ipsos.com to learn more. Awareness Product 1 65% Product 2 41% Not-Aware 66% Non-Triers 29% Not Interested 20% Interested 9% Intended Repeaters 4,3% Stated Rejectors 0,6% Triers Product 1 19% Product 2 9% Actual Intended Repeaters bought new product 2+ times and intend to buy again Potential Intended Repeaters bought new product once and intend to buy again Stated Rejectors have bought new product at least once and DO NOT intend to buy another again Triers 5,0% Aware 34% Potential 1,0% Actual 3,3% Claimed Trial Intended Repeat Claimed Awareness Summary of Awareness, Trial and Repeat Copyright ©2016 Ipsos. All rights reserved. 2 Take Control Of New Product Per formance 1 5 - 1 1 - 1 5

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