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Belinda Rathbone
Associate Director
ACNielsen
As with any new product launch or line extension, it is critical during the early stages to monitor product acceptance amongst consumers. Early indications allow for fine-tuning of the marketing mix to maximise year one sales opportunities and establish a solid foundation for growth.
It is important for marketers not only to understand who is purchasing the product, but equally, the extent to which consumer perceptions impact actual consumer purchase dynamics. As marketers, there are many factors we need to consider when evaluating new product success:
- How many consumers have purchased?
- How many consumers have returned to re-purchase?
- What is the demographic composition of trialists?
- What was the source of volume gains – cannibalisation or competitive steal?
Similarly, it is crucial to understand what drives trial and repeat conversion in the minds of consumers – could there be factors potentially inhibiting acceptance of my new product?
ACNielsen | Homescan information integrated with insights obtained from a quantitative customised research survey, ACNielsen | Omnibus, provides a comprehensive market read. Homescan provides answers to ‘who, what, where and when’, while Omnibus provides important insight into ‘why’.
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