The Product of the Year endorsement, based on the largest ever national consumer research of its kind, is a powerful tool in driving awareness and sales of innovative consumer products. Previous winning products have seen typical sales increases of 10 – 15%, with some products enjoying even greater success. Additionally, all Finalists receive a research report valued at Rs.10,00,000 by Nielsen. Below is a summary of the costs:
Product Entry: Rs. 4,00,00 per product* If your product is eliminated by the jury, the entry fee of Rs. 4,00,000 is refunded to you.
Winner Fee: Rs.15,00,000 This fee is payable per product if voted Product of the Year in the category.
Total for category winner: Rs. 19,00,00
*If selected by the jury to go into the national voting survey, whether your product goes on to win its category or not, you receive this research which is valued by our independent Research Agency (Nielsen) at over Rs 10,00,000 only. The research is split by demographic, age, sex and region.
**This covers the licence to use the logo on all communications for 1 year from the date of official announcement.
Is that Good Value? The average increase in sales is 10-15% and going upto 40% and even 135% in some cases, as witnessed in other Product of the Year markets.
