Ipsos Launches Tool for Successful Innovation

Ipsos innovation and forecasting division InnoQuest has unveiled a new Framework, centred around 'nine drivers critical to innovation success'.

The Innovation Performance Framework has been developed after an analysis of the global group's Designor database, backed up by its four decades of experience in innovation and forecasting. Ipsos says the database reveals that only 35% of innovations achieve 'a winning trial level' in their first year, and allows researchers to analyse what combination of consumer perceptions, marketing realities and real-world competition makes for truly successful innovation.

A month ago, InnoQuest launched a classification system for CPG innovations, the 'Archetype IQ System', profiling twelve archetypes to help clients gauge potential. The new Framework is built on three pillars, Consumer Demand, Market & Execution, and Marketing Force - and from these develops nine drivers which can be used as a practical tool to forecast sales and test 'what if' scenarios.

According to InnoQuest Global CEO Lauren Demar, 'Ipsos has a strong point of view on what it takes to be successful in market, based on 40 years of innovation experience, and this is encapsulated in our Innovation Performance Framework. Our nine drivers of innovation success help marketers understand what they need to do in terms of choosing the right markets in which to innovate, establishing consumer demand for their initiatives, and refining the development and execution of their marketing strategies.'

Yesterday, GfK launched a new global Market Opportunities and Innovations practice and appointed Marilyn Raymond to lead it.

Web site: www.ipsos.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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