NielsenIQ: 60% of Product Relaunches Don't Pay Off
NielsenIQ BASES introduces a new product to help brands stay relevant.
BASES Renovator is a groundbreaking solution that helps brands stay ahead of their competition.
CHICAGO--(Business Wire / Korea Newswire) February 10, 2022 -- Around the globe, more than 230k new products are launched yearly, however, only 8% of consumers are committed to their current brand, according to NielsenIQ’s research. To stay relevant in this constantly evolving competitive environment, brands need to adapt or risk losing market share. However, if brands wait too long to evolve, it may be too late.
NielsenIQ is constantly innovating its product offerings to provide clients with actionable insights that allow them to make efficient, informed decisions. We know that 60% of relaunches do not recover from their downward trend, thus we developed a new, groundbreaking solution that will provide brands comprehensive analytics and faster insights to help them adapt their existing products to consumer trends and diverse market factors.
BASES Renovator balances the need to adapt while strengthening brand performance through a fast, interactive software platform. Using a patent-pending methodology, BASES Renovator blends both in and out of competitive context evaluations. The resulting insights provide a clear picture of how making changes will impact the financial well-being, competitive interaction, and strategic outlook of the brand into the future. Additionally, BASES Renovator achieves these results in half the time of traditional other solutions.
“The arrival of Renovator comes at a very good time,” said Joe Willke, President of NielsenIQ BASES. “External factors have forced many of our clients to focus on their core offerings. Renovator is the perfect solution for companies looking to invest and innovate on their existing brands. The robust insights gleaned from this solution will be crucial to successfully compete for consumer purchase while also strengthening the brand’s equity.”
NielsenIQ is the leader in providing the most complete, unbiased view of consumer behavior, globally. Powered by a groundbreaking consumer data platform and fueled by rich analytic capabilities, NielsenIQ enables bold, confident decision-making for the world’s leading consumer goods companies and retailers.
Using comprehensive data sets and measuring all transactions equally, NielsenIQ gives clients a forward-looking view into consumer behavior in order to optimize performance across all retail platforms. Our open philosophy on data integration enables the most influential consumer data sets on the planet. NielsenIQ delivers the complete truth.
NielsenIQ, an Advent International portfolio company, has operations in nearly 100 markets, covering more than 90% of the world’s population. For more information, visit NielsenIQ.com.
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This is a news release distributed by Korea Newswire on behalf of this company.