NEWS24 August 2018
US – Nielsen’s new product innovation service, Bases, has launched an in-home use product testing tool for FMCG marketers.
Bases Product Quick Use is built on agile product development principles so marketers can gain rapid customer feedback during the innovation process.
It can generate results in as little as three weeks and uses Bases’ predictive analytics, its database of FMCG initiatives and forecasting models. Using this data and insights, brands can understand whether consumers will purchase their product long term, adapt products to better meet expectations, and make adjustments and improvements based on robust consumer feedback and Bases framework for success.
Bases Product Quick Use is delivered on the Nielsen Studio digital platform and clients can continuously develop new diagnostics and customisable add-ons – such as volume forecasting, targeted testing and concept assessment.
Joe Willke, president of Bases said: "Fierce competition from nimble consumer goods start-ups have disrupted well-established category leaders within the global FMCG space, causing many marketers to cut corners to get their products to market faster.
"Being fast isn't the same thing as being agile. The most innovative FMCG companies are now adopting agile design and development principles that allow them to quickly adapt to market demands and consumer feedback at all points during the product development cycle."