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Mintel and IRI Add to Product Development Offer
Mintel and Information Resources Inc (IRI) have enhanced their joint product development support solution, GNPD IRIS, with additional trend analysis.
The solution now offers measurement of a product's movement, distribution and performance according to a store's geographic location, and compares it to desired benchmarks.
GNPD IRIS, which launched in 2007, adds to the Mintel Global New Products Database (GNPD) and allows consumer packaged goods companies to identify new product launches and distinguish between those that are successes and failures.
In addition, IRIS integrates the existing Mintel GNPD tool with IRI's InfoScan, a scanner-based tracking service that processes point-of-sale data from stores on a weekly basis across France, Germany, Italy, Netherlands, Spain, the UK and the US.
'GNPD IRIS can now provide multi-country or country-specific analysis to support innovation and help companies better understand trends,' explained Alistair Vince, Director of Operations and Innovation at GNPD, Mintel. 'Companies spend millions of dollars annually on new product innovation, and our industry-leading application helps them optimize new product success rates across the US and Europe.
Mark Parise, President of IRI Market Information Group, adds: 'Manufacturers can now get a better sense of distribution build and product velocities during the first two years of a product's introduction and compare it to relevant benchmarks.'
Web sites: www.mintel.com and www.infores.com .
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