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RI Rolls Out Sales Prediction Tool
Research International (RI) has launched a simulated test market system designed to provide sales predictions within the consumer packaged goods category.
Developed in partnership with consumer behaviour modeling firm STAT'COM, the new MicroTest Nouveau also incorporates the latest social media trends such as word-of-mouth and viral marketing.
The system utilizes a micro-model approach to commercial forecasting, with consumer choice examined at an individual level and then aggregated. The firm says this level of detail allows RI and its clients to understand the subtleties of consumer choice while still delivering the big picture forecast.
It also provides diagnostics that, when analyzed against RI's global database, provide a deep understanding of success criteria.
'This micro-modeling approach allows us to measure the impact of virtually any marketing variable, including competitor activity, on an individual's probability of purchase,' stated Julian Bond, RI's Chairman and Head of New Product Development. 'It also provides tighter targeting and better guidance for optimizing marketing plans.'
RI is part of WPP's Kantar division and is online at www.research-int.com .
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