“Sold” and “didn’t sell” can tell you a lot about a product, but you’re missing a trick if you don’t investigate why this happened.
Whether you're able to pivot and improve your execution immediately or simply understand what yo change (or keep!) next time, there is plenty of value to gain from getting to the 'why'.
- Head of Insights for vitamin products
When it comes to bringing new products to market, many manufacturers are missing a trick. Launch, launch, launch, with little time spent on learnings.
And yet it can be confusing when the team has put in their best efforts and done their due diligence only to find a product has failed in market. No-one likes an internal finger-pointing exercise!
Valuable market opportunities, strong concepts, and good execution can all be abandoned just because external factors led to low sales in the first few months post-launch. This is lost value!
Being grounded in research, we see product launches, successful or otherwise, as one of the richest sources of insight there is!
We help understand what worked or what didn't with a customer lens. You probably have your own sales, distribution, shopper data, brand or ad tracking - but perhaps not the time to look at it objectively.
We fill the customer gap and decipher the why, so, each new NPD project can improve on the last.
- Business, Brand and Product Managers responsible for making money off new launches but struggling to see why certain products succeed while others fail
- We get customer feedback immediately post-launch (to pivot quickly) or in 1-2 months (for longer term learnings)
- We have the ability to reach and hone in on your trial stores or sample across the network quickly and easily
- We craft the method for the product, the channel and the problem. This can include coded products for immediate consumer experience feedback, mystery shops, shop-alongs, video, and store sales, merchandising or staff feedback - all of which can be easily triangulated with your internal metrics!
- Better post-launch outcomes – for the brand, retailer relationship and your bottom line
- Ability to pivot and improve (if appropriate) to improve sales within the launch period
- Better and more consistent innovation ROI
- More empowered relationship with retailer