Measuring Incrementality Identifying the sales impact of a potential new product on an existing line of products should be a major consideration in measuring the total size of the opportunity.
Conventional methods of measuring that impact focus simply on a basic analysis centered around consumer responses. However, they fail to consider other critical marketing dynamics. Innovate Wisely’s complete incrementality approach employs a deeper evaluation of several elements that contribute to a more comprehensive measurement of the brand portfolio. |
Volumetrics and Marketing Impacts Identifying the “best” marketing weight and mix has often been a struggle. Traditional marketing plans focus on the “spending” associated with a product launch. A “budget-focused” approach does not consider the unique aspects of the new product’s strengths and weaknesses or the company’s brand strategy. This can lead to suboptimal product performance once the new product is launched.
Innovate Wisely’s marketing strategy approach employs a clear process that evaluates the actual marketing weight/execution that is associated with the marketing spend, evaluating both the depth and breadth of marketing support to maximize the new product’s potential. |
Volumetrics and Product Assortment Volumetrics and Product Assortment - Selecting the most promising variants to include in a new line of products can be a difficult decision. The final selection is often based on a metric that measures the proportion of consumers who like the various flavors. However, this perspective is limited since individual flavors contribute differing amounts of volume to the line.
Combining the breadth and depth of consumer interest (i.e., reach and frequency) yields a stronger product line because the results are grounded in a volume-based solution. |
Volumetrics and Package Testing Picking the "best" new package that will add incrementality to a brand's sales has often been a struggle. The final selection process is often based on soft measures, such as overall appeal or a collection of attribute results. Conflicting consumer responses and a lack of knowledge as to which metrics to focus upon often leads to suboptimal package selection.
But there is a clear answer to the mystery when a few principles are followed. |
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