Nielsen’s new Quick Screen can help brands predict a product’s success before it’s launched

“Many times, “top-tier” innovations occupy the majority of innovation resources, so many smaller initiatives don’t get the benefit of reliable analytics before launch,” Jenny Frazier, senior vice president of Nielsen’s Innovation practice, told FoodNavigator-USA. “As a result, nearly half of innovations that brands test do not meet a consumer need—setting the stage for product failure, instead of a product success.” To help companies cut time and costs, Nielsen developed Quick Screen, a platform where users can upload their product ideas and receive feedback from consumers—overnight. The mechanism: A panel of consumers providing feedback “ Quick Screen users receive access to Nielsen Innovation Studio, a web-based platform that allows them to centralize and collaborate on their project content,” Frazier told FoodNavigator-USA . “They can create their product ideas on idea boards directly in Studio, review and collaborate with their team, and finalize the project for data collection,” she added. “Their interactive results are also published in Studio, so they have a one stop shop to view their project from start to finish.” Giving feedback to the product concepts are a panel of consumers “ screened to ensure they meet demographic and category standards,” Frazier said. Feedback is given in the form of multiple choice questions, where the consumers will compare ideas and choose which products they need the most and which they think are the most unique.

Nielsen’s new Quick Screen can help brands predict a product’s success before it’s launched

Out of the multitude of new product launches in the food and beverage space, how many actually stay on shelves for the long-run? It’s less than half, Nielsen says, and they’ve created a new system to help with that.

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