What is Product of the Year?
How is Product of the Year different from other awards?
There are three things that make POY completely unique:
100% Consumer-Voted. There are no experts or lab coats involved. Products are voted on entirely by a nationally representative sample of Indian consumers.
100% Independent. The competing products have no other interest in being included other than to put their product to the test of consumers. There are no advertising discounts or packaged deals that often come with magazine awards.
100% Transparent. Brands can participate only if they enter and once a brand wins, the award is theirs to use. We don’t “nominate” brands or ask for a percentage of their sales if they win.
What makes the Product of the Year Award so incredible?
Over the past 29 years, POY has gained unquestionable credibility thanks to the following attributes:
Focus on Innovation. POY exists to help guide shoppers to the best new innovative products as determined by consumers just like them. For winning products, this is not only an acknowledgment for innovation in the eyes of the industry, but a proven ROI tool.
Nationally Representative. Over 7,000 consumers who vote across 24 markets are independently recruited by Nielsen to represent the national grocery shopping population. These people are not affiliated with magazine subscriptions and are 100% bias-free.
29 Years of History. Founded 29 years ago in France, Product of the Year has long been the standard of consumer confidence around the world.
42 Countries. POY is a powerful concept that works in every market. Over the past 29 years, we’ve grown to 42 countries and are still growing.
Nation’s Largest Study. With over 7000 consumers voting on products, POY conducts the nation’s largest consumer survey on innovation. Our research partner Nielsen conducts this study with a representative sample of the Indian population – therefore reflecting the opinions of the nation rather than a group of subscribers to one magazine or volunteers.
What kind of products qualify?
We are currently accepting entries for products that were launched since January 2015. Products must demonstrate an innovation in one of the following (but not limited to): function, design & packaging.
If you have a great product, it doesn’t matter if it’s been out almost the full year or is just about to launch.
If you’re not sure, give us a call and we can help figure out if you should be entering.
How do you define innovation?
How are the winners determined?
We partner with the leading global research company Nielsen, to survey a nationally representative sample of over 7,000 respondents. The survey is designed to assess consumer opinions on innovation, use, satisfaction and purchase intent of the competing products, with innovation being the strongest factor.
Can I enter more than one product?
Yes. There is no limit on how many products from one brand can be entered, as long as they meet the criteria above.
When can I enter?
Product of the Year is open for 2017 nominations. Enter
What are the categories?
The general broad categories of product entries we accept include Food and Beverage, Health and Beauty, Personal Care, Household Products, Pet Supplies, Pharmaceuticals, Small Appliances and Electronics, etc. The exact category names are determined by Nielsen after all entries are received. Because this is an award for innovation, the categories are often driven by innovation trends of the preceding year. (For example, products like clinical-strength deodorants and bronzing lotions did not exist several years ago but now represent some of the best innovations).
We work with Independent Research Agency Nielsen to make sure only comparable products compete with each other and there are never less than 2 products in a category.
How much does it cost?
Entry to Product of the Year is free. If your product makes it through the Jury Selection, there is an Entry fee of Rs. 1 lakh + taxes. This fee pays for itself in the form of a research report prepared by Nielsen based on the results in each category. Win or lose, you receive this report in exchange for participation.
If your product is voted Product of the Year, there is a one-time winner fee of Rs. 18 lakh + taxes that allows promoting the win and using our logo in any type of media for a full year. It also covers inclusion in our own PR campaign to support all winners. Once you enter you are committed to the whole process and fees.
What are the benefits of winning?
Winners have found numerous ways to benefit from POY over the past 29 years, but here are a few of the key benefits we’ve observed:
At the very least all winners are guaranteed the following:
- Use of the award seal on any communications for one full year and inclusion into POY press release
- All finalists receive Nielsen research report regardless of outcome – a study worth Rs. 20,00,000 alone
On top of that, being able to use the seal allows you to:
- Use it in consumer-facing marketing campaigns to drive trial
- Use it in PR outreach as “new” news to secure media coverage
- Use it with sales force and retail partners to increase visibility and distribution
- Use it in industry relations to support your company’s reputation for innovation
- Use it internally to boost morale and set example
Who are the Jury members and what is their role?
The role of the Jury is to evaluate all product entries and make sure only the truly innovative products go on to the consumer research phase. Jurors do not vote on the products, but help ensure that they meet the innovation and new to market criteria. Globally, our Juries are comprised of distinguished industry experts representing retailers, media, innovation and packaging associations.
When was Product of the Year founded?
Does Product of the Year exist in other countries?
Who can I contact for additional information?
You may contact us with any questions at (+91 22) 4004 6397/98.
We are currently accepting entries for products that were launched since January 2015.
For more information on the process and entry procedure, contact Mahesh Gupta, Marketing Manager at firstname.lastname@example.org.
Alternatively you can email Saanya Singh, Head – Business Development at email@example.com.