New York, NY –To help marketers better gauge the success potential of their latest innovations, Ipsos InnoQuest, the innovation and forecasting experts at Ipsos, has developed a new Archetype IQ System for classifying consumer packaged goods innovations into 12 Archetype profiles.
The Archetypes are based on consumer evaluations from over 10,000 cases in Ipsos’ concept database. Each Archetype describes a distinct innovation profile based on key performance indicators.
“In an increasingly complex and competitive world, deciding which concepts to move forward with can no longer come down to a simple ‘go’ or ‘no go’ action standard. The market is full of nuances, and within those are both opportunities and challenges. That’s why we developed the Archetype IQ System– to help marketers achieve a more robust picture of their product innovations and a better understanding of their potential for success,” says Lee Markowitz, Global Chief Research Officer, Ipsos InnoQuest. “Knowing an innovation’s Archetype can help determine the next best steps in making it a success – or indicate that it’s time to move on to another opportunity.”
The 12 Archetypes as defined by Ipsos InnoQuest are aimed at helping marketers gain a deeper understanding of their innovations and decide on specific courses of action. For example, a concept identified as a Breakthrough Archetype will meet consumers’ needs in a unique way – however, the marketer will need to find ways to convince them that the product will deliver.
A concept identified as a ‘Niche/Targeted’ Archetype will require the marketer to think differently and decide if the concept should be targeted, reworked to appeal to a broader audience, or stopped completely.
Designed as a standard client deliverable for Ipsos’ InnoScreen*Concepts solution, the Archetype IQ will help marketers identify areas of product development that may be missed in other innovation research processes, or reveal new ideas and opportunities that help invigorate a brand.
“The Archetype IQ System defined by Ipsos InnoQuest is backed by our extensive research into CPG innovation and will go a long way to help our clients see a world of opportunity that is more vivid and colorful than a simple black and white, yes or no perspective,” adds Lauren Demar, Global CEO for Ipsos InnoQuest. “To ensure that no worthy innovation opportunity goes unnoticed, a strategic understanding of innovation Archetypes provides deeper insight into the real world market potential behind clients’ new product ideas – ultimately ensuring a greater return on investment.”
Ipsos InnoQuest also employs a distinct set of Archetypes when evaluating innovations outside the consumer packaged goods sector. Our Archetypes for non-CPG innovations are based on extensive research conducted by our Vantis team, which specializes in the technology, durable goods, health and financial services sectors.
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About Ipsos InnoQuest
Ipsos InnoQuest is the Ipsos brand dedicated to meeting the innovation and forecasting needs of our clients.
Ipsos InnoQuest helps clients to maximize the ROI of their innovation processes through a unique, global end-to-end offer and deep expertise across a wide array of sectors. Central to our offer is our ability to provide financial metrics – even at very early stages – and clear direction for maximization of initiative potential.
We offer simple, intuitive tools built on a consistent philosophy of what drives innovation success, a comprehensive suite of tools for product research and development offering solutions throughout the product's lifecycle, and powerful simulation capabilities to help clients reach their financial targets. From the fuzzy front end to mix optimization, launch and beyond, we help our clients to maximize their innovation I.Q.
To learn more about Ipsos Innoquest, please visit www.ipsos.com.
Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. In October 2011 Ipsos completed the acquisition of Synovate. The combination forms the world’s third largest market research company.
With offices in 84 countries, Ipsos delivers insightful expertise across six research specializations: advertising, customer loyalty, marketing, media, public affairs research, and survey management.
Ipsos researchers 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 and they measure public opinion around the globe.
Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of €1,363 billion (1.897 billion USD) in 2011.
Visit www.ipsos-na.com to learn more about Ipsos offerings and capabilities.