Knowing your how your product is performing in terms of the total market is key, but, what if you are missing important details about what is happening at a more local level?
Aggregated data can tell you your overall performance, but what is happening in individual stores or clusters? Do you know how your sales are affected by being stocked in, for example, a convenience store versus a hypermarket?
By using a set of test stores versus a control group of stores, where sales stimulus is present versus the control stores, the resulting effect on sales can be analysed. This will yield information that simply cannot be discovered at an aggregated level.
This in-depth store level knowledge allows you to pinpoint issues, making it easier to effectively target and resolve problems associated with distribution, price and sales performance.
Innovation is often held to be the most important driver for business success. No wonder that globally, new products are launched every 3.5 minutes. But with as many as 80% ending in failure, getting it right has never been more important.
IRI, the world's leading provider of enterprise market information, delivers the best chance for every new product through each stage of the launch cycle.
Through our comprehensive suite of solutions and services, markets can be analysed and new developments tested. New product performance can be tracked, measured and compared to category benchmarks. Future outcomes can be predicted so you can react and put your new product back on track before it's too late.
With IRI on your side, NPD is easier, safer and more successful.
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