New Consumer Product Testing Solution will Help Leading FMCG Companies Embrace Agile Development Principles and Improve Go-to-Market Strategies
New York, NY - Aug. 22, 2018 - Today, BASES, a new product innovation discipline within Nielsen (NYSE: NLSN), is launching BASES Product Quick Use, a new in-home use product testing solution aimed at helping marketers quickly and accurately simulate a consumer's true product experience prior to launch. BASES Product Quick Use is built upon the principles of agile product development, which is now being embraced by a growing number of forward-thinking, consumer goods manufacturers, and emphasizes the need for rapid feedback from customers during the innovation process.
According to BASES, 84% of fast-moving consumer goods (FMCG) professionals are under more pressure to quickly bring new products to market than they were five or 10 years ago. With this in mind, 47% of those surveyed confessed that product testing suffers most when deadlines are accelerated. BASES Product Quick Use will ease some of the pressure by providing product developers and marketers the ability to gather rock solid consumer feedback during product development faster in order to confidently make necessary adjustments to product features, pricing and packaging prior to launch.
This latest addition to BASES' roster of innovation solutions is both budget and time efficient without compromising methodology or rich insights. Generating results in as little as three weeks, Product Quick Use will be fueled by BASES' predictive analytics, the industry's largest database of FMCG initiatives and best-in-class proprietary forecasting models. Combined, these data and insights from BASES will provide brands the ability 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' validated framework for success.
BASES Product Quick Use is delivered on Nielsen Studio, a digital platform that enables technology benefits such as faster setup, data collection, and reporting, while maintaining a full-service client support model throughout the research process. Additionally, this dynamic new solution allows for continuous development of new diagnostics and customizable add-ons-such as volume forecasting, targeted testing and concept assessment-for more in-depth analysis based on unique budget, timeline and brand needs.
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 in order to get their products to market faster, said Joe Willke, President of BASES. '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 remain nimble and quickly adapt to market demands and consumer feedback at all points during the product development cycle. With the introduction of Product Quick Use, we are able to deliver BASES' industry leading consumer insights at a speed that supports true agile innovation.
BASES Product Quick Use is a globally consistent solution available now in select markets worldwide with additional market feasibility being released on a regular basis.
ABOUT NIELSEN Nielsen Holdings plc (NYSE: NLSN) is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Our approach marries proprietary Nielsen data with other data sources to help clients around the world understand what's happening now, what's happening next, and how to best act on this knowledge. For more than 90 years Nielsen has provided data and analytics based on scientific rigor and innovation, continually developing new ways to answer the most important questions facing the media, advertising, retail and fast-moving consumer goods industries. An S&P 500 company, Nielsen has operations in over 100 countries, covering more than 90% of the world's population. For more information, visit www.nielsen.com.
CONTACT Genevieve Aronson: Genevieve.Aronson@Nielsen.com; 646-654-5742
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New Consumer Product Testing Solution will Help Leading FMCG Companies Embrace Agile Development Principles and Improve Go-to-Market Strategies
