Launching a new product today is an exciting and daunting prospect. A vast majority of new introductions fail, and reaching consumers in today’s crowded market is a highly complex task. Given the large investment required for new product launches, you need to understand the sustainability of your new product in the market.
When launching a new product you need access to quick and actionable sales- and consumer-based information to give your product a greater chance of success. It is critical to monitor the early days of launch to understand if sales rates are meeting expectations and, equally important, if consumer behaviour and attitudes toward your new product are optimistic. Are there any issues and concerns that need to be addressed to improve your new product’s performance and ensure that you meet your goals?
To help you achieve greater success with newly launched products, we have developed an evaluation model that integrates various data sources to produce a first-rate prognosis after the initial launch period.
Our solution delivers timely and actionable information about the dynamics of the launch period to determine whether the brand’s introduction is on track or needs to be re-directed if things are not performing to the original plan.
The integration of consumer research augmented and enhanced by the market tracking from retail provide powerful insights to maximise a new product’s success.