|New Product Introductions
Performance of new brands
It is an exciting and daunting prospect launching a new product today. A high percentage of new introductions fail and cutting through to the consumers in today’s crowded market is a highly complex task. Now however ACNielsen can provide you with answers to the most pertinent launch issues such as:
- Will my proposed advertising work?
- How many households are buying and repeating?
- What should I do next – new SKU’s, new packaging etc?
Consumer reaction to new product introductions
When launching a new product you need access to quick and insightful consumer based data to give your product a greater chance of success. Monitoring the early days of launch can show if enough consumers are making a trial purchase, and equally importantly if enough of them are making repeat purchases. The issues you need to understand include:
- How many households have tried the new product?
- Is repeat strong enough to support the brand long term?
- How did trial respond to advertising and promotions?
Competitive response to your new launch
Identifying where a new brand’s volume gains have been made is necessary to ensure that the overall strategy for the brand is on track—particularly if you have other brands in the same market. The issues you will be pondering include:
- What is my brand share– pre and post launch?
- Did my new brand attract new category buyers?
- How much has the market grown as a result of my launch?
Provide a long term forecast for your new brand
Determining if the new brand you have launched has potential as a long-term player requires predictive analysis. Making major capital decisions based on the long-term viability of a brand is a serious issue and we provide the tools to make it as easy as possible. Issues you may be considering are:
- What is the future for my new product offering? Is it worth significant capital investment (new factory, machinery etc)?
- What flavour / form extensions should be considered?
Nielsen Can Help
SCANTRACK data is the quickest and most efficient way to measure distribution effectiveness and can also highlight volumes attained, where they were sourced from, and the effect your new brand had on your own or competitive brands. Find out more.
Get insight into consumer reactions to new products and long-term forecasts that predict new product performance based on consumer testing and estimated marketing activity. Find out more.
Position your brand for future growth and determine the right pricing promotions, pricing strategies, and portfolio mix, all with our modelling and advanced analytic services. Find out more.