Product of the Year has become a very powerful tool for marketers in just four years. Our promise of a substantial impact of “Product of the Year” on winning products is now being corroborated by our winners of Product of the Year 2009, 2010 and 2011. It is a unique platform that recognises, rewards and celebrates Product Innovation.
“Product of the Year” is the global consumer recognition standard that celebrates, champions and rewards the best innovations in Retail products done through an independent consumer survey across the country; in 32 countries for 25 years.
Its benefit for brands is proven to be high as it creates an instant differentiator and high visibility.
Product of the Year is a great way to increase sales!
Key highlights of Product of the Year are…1. It helps increase sales. Proven across 32 countries for 25 years. Testimonials are available on www.productoftheyear.in
2. It gives your winning product instant recognition and differentiation on the retail shelf. Your product will definitely stand out in the clutter of other retailed products in your category.
3. This is not an award. It is a consumer verdict for the best innovations
4. And the participant gets a copy of the insightful consumer research for your category that provides consumer insight on usage and attitude as well as trends in consumer preferences on innovations.
Product of the Year is an Internationally Recognised Standard for new product launches that provides consumers the feedback of thousands of consumers like themselves. It is an independent process that allows the consumers of that country to evaluate new product offerings. The Voting is done by the Consumers.
Product of the Year also helps Companies understand the trends and usage patterns that influence a consumer’s choice and in turn, come up with more meaningful, relevant and beneficial products in the market.
Product of the Year provides an easy guide to the consumers to sieve through the clutter created by media flurry and an overload of information and advertising.
The competitive edge that winning the “Product of the Year” gives, has seen it feature extensively in the communications of last year’s winners providing a real point of difference and helping them achieve stand-out in their category. From TV commercials, retail promotions and 6 sheet campaigns to packaging, online and POS – communicating their success in the largest ever vote on new products has been part of the strategy for the winners.
Some of the most eminent brands that have been participating over the years across various countries are Unilever, Nestle, Loreal, Procter & Gamble, Reckitt Benckiser, Johnson & Johnson, Danone, Heinz and Kingsmill Bread, Nokia, Philips, Samsung etc for innovations from product to packaging and anything that results in a key consumer benefit. Resulting in an average sales increase of over 20% and in some case even 115%!
The power of POY to drive sales is in the methodology. Because the winners are determined by using the first and largest ever survey into product innovation it is a recognition and validation that consumers can trust – particularly in an era of spin and over claim. It’s because it is ‘By the people, for the people’ – that it offers consumers a genuine aid to finding the best new products.
This 100% face-to-face independent survey done by Nielsen across 30,000 respondents in 36 markets in India is the largest survey of its kind.
A survey conducted in India by Nielsen in 2011 amongst consumers and retailers reveals that…
- While 74% consumers are more likely to try product which claims to be “New”; 83% are more likely to try a product which is POY.
- While 55% consumers feel advertising influences purchase; 91% feel POY helps them choose a new product better.
- While 79% retailers are more likely to stock products which claim to be “New”; 83% are more likely to stock products which is voted POY.
- While 54% retailers feel advertising influences stocking; 94% feel POY helps them choose a new product better.
Our Partners
Awards Nite Media Presenter – NDTV Profit
OOH Partner – Future Media
Associate Partner – Croma
Travel Partner – Meru
Print Partner – New Woman
Outdoor Partner – Bright Outdoor
The process
Is in three steps
1. Companies nominate their best innovations launched
2. A jury panel of eminent citizens and senior journalists will filter the products and shortlist.
3. The shortlisted products are put through an independent and 100% face-to-face consumer survey conducted by Nielsen across 30,000 respondents in 36 markets.
4. There is only one winner in each category – the winner uses the product of the Year logo for one year to promote the winning product. POY logo may be used across all communication and on packaging and PR for a period of one year from 1st April to 31st March of the winning year.
What the participant will get from us for the above :
1. In depth consumer survey across 36 Indian markets amongst 30,000 respondents
2. Trends and insights analyses cross linking various categories
The benefit
1. Winners increase sales and trial of their product. This is proven across brands in 32 countries for the last 25 years.
2. Winners strengthen their perception as an Innovator
3. Winners’ trade has a more compelling reason to push the product in the market.
4. Winners’ product and more importantly, their brand overall gets very high awareness and a clear differentiator.
5. Winners’ brand further strengthens credibility.
6. Every participant gets a detailed trend analysis and usage study on your category done during our survey. The value of the same is placed at approx Rs 20 lakhs by Nielsen). This survey will be made available to the participant whether they win or lose.
A truly Win-Win platform for all because it is a Voting done by the consumer, for the consumer to raise the overall benchmark of innovation in consumer products.
For more information please login to www.productoftheyear.in or call us on (022) 40046397/98
