2 reasons why you should focus your attention on superior product performance

Your product is the core of any marketing mix model, and its relevance is increasing today. More precisely, superior product performance matters more than ever today and for two good reasons.

Reason 1. The competitive environment is changing

In our today’s world, your competitive environment is changing on several grounds: 

• Increased distribution power among local and regional brands

  Smaller and more local and regional brands have increased distribution power through a diverse set of outlet channels and are not as limited as in the past.

• E-commerce is growing steadily

  Today’s consumers are purchasing more and more via e-commerce or via social media. Now local and regional businesses can compete more versus larger brands. Some speak of the democratization of markets. 

• Technological advancements empower the voice of consumers

  Consumers share their experiences on product performance and their voice is becoming more dominant versus other existing marketing initiatives. This means, your products must stand more on their own to convince consumers.  

Reason 2. Businesses today are more challenged in product development

• Businesses today are challenged more in product development because they need to re-think ingredients in their products. Raw material prices increasing putting more margin pressure on your supply chain and governmental regulations are inducing the need to re-think ingredients. 

Product testing in today’s world needs to be agile and cost-efficient while providing the required rigor for a proper and successful product innovation or renovation. As the leading product tester world wide, Ipsos provides total understanding. We understand the needs for achieving product superiority along the complete product life cycle using rigor, but agile and cost-efficient solutions based on different data sources for product performance. Together we can help you make better decisions in the life cycle of your product.

Want to learn more about this topic? Watch the recording of the webinar 'Product Execution matters now more than ever...' and learn:  

• About the latest trends within the product life cycle.
• How you can use different sources of data and new technology to improve your product throughout its life cycle based on inspirational case studies.
• How rating & reviews can help developing the message for your products.
• How to use unique and award-winning solutions to continuously improve the way of testing at the different stages of your product life cycle.
• How to get in-the moment consumer feedback for product improvement

Watch here the recording: