Launching a new product or repositioning a portfolio may not deliver the desired level of incremental business success. There are many factors that can affect a launch or repositioning effort, such as a strong cannibalization among existing products in the market. On the other hand, you can increase the odds of success by making small adjustments before you bring your change to market, such as altering pack size or raising the price. These changes can have a huge impact on your business, and those changes could be positive or negative.
Therefore, it’s critical that you have a clear understanding of the business and the impact that any changes you make can have on it before you bring them to market. Nielsen has provided insight into thousands of instances like these across a range of categories, from personal care to household care to food and beverage. And the key in each situation has been seeing tomorrow today.
We measure consumer choice and purchase behavior in a virtual shopping environment. We observe whether consumers make changes in their behavior because of price or product changes, which we then use to derive our modeled forecasts—forecasts that help you make smart decisions to drive portfolio growth.
Nielsen’s cutting-edge platform can help you build a virtual shelf. With that, we ask consumers to make virtual trips and mimic their shopping behavior in every category, and each trip has a different combination of product purchases and behavior.
Using the tens of thousands of data points we collect, we can forecast the impact that changes—package, price, launch, re-launch—to the portfolio will have. We can also foresee the impact that any competitor action can have on your portfolio.
Nielsen’s in-market tracking data provides key real-time insight into what’s happening in the market, giving you a more robust forecast into what tomorrow’s landscape will look like.