New York, NY – Need to know the sales potential of your new product sooner rather than later? Ipsos Marketing has launched a modular forecasting tool that can measure the potential of new CPG products at any stage of the innovation process. The NOVACTION® NextGen Forecasting System offers Marketers insights into their new products’ sales potential as early as the idea stage and provides a flexible, cost-effective and reliable research solution.
“Today’s Marketers are faced with new challenges that cannot always be met by traditional forecasting systems,” says Lauren Demar, CEO of Ipsos Marketing, Global Consumer Goods. “They have many more innovations in the pipeline and there is a greater need to get an earlier read on initiative potential than ever before. Marketers need a flexible, fast, and cost-effective forecasting system. That’s why Ipsos Marketing developed the NOVACTION® NextGen Forecasting System.”
Demar continues, “NOVACTION® NextGen is a research solution that answers many of the questions Marketers ask upfront when they initiate a product innovation, as well as the questions they ask throughout the process: ‘How can I assess market opportunity?’; ‘How can I lower forecasting costs?’; ‘How can I evaluate an innovation throughout the mix development process, instead of just at the end?’ We created NOVACTION® NextGen to help our clients answer these questions.”
NOVACTION NextGen is based on Ipsos’ DESIGNOR® STM forecasting model, which has been validated within 9% of actual sales. NOVACTION NextGen forecasts can be added to a wide array of innovation tools that clients are already using, including idea testing, concept screening, concept and product testing, communication testing, package testing, and line and price optimization.
According to Jeff Jacobs (Vice President, Global Product Center, Ipsos Marketing), who spearheaded the development of NOVACTION® NextGen, “The system is unlike anything else in the market today. It provides market assessment throughout the innovation process based on consistent measures that not only link the stages together, but also have been proven to drive new product success. NOVACTION® NextGen is a fully customizable and easy-to-comprehend research solution that helps our clients steer their innovations to market success right from the start.”
NOVACTION® NextGen is part of a continuously innovative suite of products designed by Ipsos Marketing to help clients build successful new products and grow strong brands throughout all stages of the product life cycle. For more details on these and other market research solutions, tools, and products, visit www.ipsosmarketing.com .
For more information on this news release, please contact:
Director of Marketing
Consumer Goods Sector
About Ipsos Marketing
Ipsos Marketing – The Innovation and Brand Research Specialists – is the Ipsos brand for Marketing Research.
Ipsos Marketing operates under a global structure that brings clients unequalled research expertise throughout their innovation and brand development process. Supported by specialized teams, Ipsos Marketing offers in-depth understanding of the drivers of consumer choice and of the marketing challenges faced by our clients. Our experts provide integrated qualitative and quantitative research solutions, as well as advanced modelling and forecasting techniques that include simulations and linkages to in-market data.
Ipsos Marketing is a specialization of Ipsos, a global survey-based market research company that offers expertise in advertising, customer and employee loyalty, marketing, media, and public affairs research. Ipsos is present in 64 countries, with a leading position in both mature and emerging markets. In 2008, it achieved global revenues of 979.3 million euros, Marketing research contributing to 48% of Ipsos’ total global revenues.
Visit www.ipsosmarketing.com to learn more.
Ipsos is a leading global survey-based market research company, owned and managed by research professionals. Ipsos helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world.
Member companies assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media. They measure public opinion around the globe.
Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting. Ipsos has a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999.
In 2008, Ipsos generated global revenues of €979.3 million ($1.34 billion U.S.).
Visit www.ipsos.com to learn more about Ipsos offerings and capabilities.