New York, NY – To help clients win in market, Ipsos InnoQuest has developed a new Innovation Performance Framework that identifies nine drivers critical to innovation success. By using the Innovation Performance Framework as a guide, marketers will be able to focus – and control –the factors most likely to impact the success of their innovations.
“We’ve all heard it many times—most innovations fail in market. And with so much time, effort and resources expended to develop and launch innovations, marketers need to know what they can do to maximize the success of those innovations and their subsequent financial return,” says Lauren Demar, Global CEO for Ipsos InnoQuest. “Ipsos has a strong point of view on what it takes to be successful in market, based on 40 years of innovation experience, and this is encapsulated in our Innovation Performance Framework. Our nine drivers of innovation success help marketers understand what they need to do in terms of choosing the right markets in which to innovate, establishing consumer demand for their initiatives, and refining the development and execution of their marketing strategies.”
The Innovation Performance Framework is the result of extensive research and development, backed by Ipsos’ four decades of innovation and forecasting experience. An analysis of Ipsos’ Designor database revealed that only 35% of innovations achieve a winning trial level in their first year. From there, Ipsos researchers took a more in-depth look at what makes for truly successful innovation, taking into account consumer perceptions, marketing realities, and – the often overlooked – impact of real-world competition.
The Innovation Potential Framework was specifically designed to help clients understand their drivers of innovation success and use them to their advantage. Built on three pillars – Consumer Demand, Market & Execution, and Marketing Force – the framework breaks out into nine drivers which are not only an important conceptual guide to launching strong innovations, but also a practical tool. The nine drivers can be leveraged to forecast sales, and each specific driver can be simulated to play “what if” scenarios to help marketers optimize their launches.
With the Innovation Performance Framework, Ipsos InnoQuest offers clients a validated tool for understanding the market potential of their innovations and maximizing their success.
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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.