A simulated test market service (STM) to estimate first year sales for innovation at all stages of NPD process, from initial screening to final proposition before launch.
Early Stage
- Add launch check to initial online screening of concepts
- Appropriate for all FMCG product concepts and can be adapted for consumer durables and services
- Database of previous concept screening results used to evaluate concept performance and estimation of potential Year 1 sales
- Existing market data required, typically using continuous data from IRI and Kantar.
- Marketing plan in terms of distribution, comms, promotion strategy also required for modelling
- Invaluable consumer insight provided on probable portfolio of buyers
Final Check
- Typically added to final stage CPT, when final concept, product and packaging etc. have been developed
- Can also be used to evaluate different market mix options e.g. alternatives for concept positioning, pricing, pack design or even products
- Findings evaluated against database of previous successful and unsuccessful product launches to estimate Year 1 and Year 2 volumes
- Existing market data required, typically using continuous data from IRI and Kantar. Marketing plan in terms of distribution, comms, promotion strategy also required for modelling
- Invaluable consumer insight provided on probable portfolio of trialists and repeat buyers of product or service.