TNS Launches Quick Turnaround Tool to Identify Winning Concepts for Business
New express tool helps improve speed to market for successful innovation
NEW YORK -- July 2, 2014
Global research consultancy, TNS, launched today an “express” concept
screening tool that allows businesses to determine in as little as 24 hours
whether a new productideawill drive top-line business growth.
eValuateexpress will launch in the US, UK, China, Germany, Australia, and the
Netherlands in July, and rollout to over 20 markets before the end of the
year. In as little as 24 hours, it canassesswhetheran innovationhasthe
potential toattract new customers, or whether it risks “cannibalizing”other
products from theexisting franchise or client portfolio.
With so many new product failures, companies should be questioning whether
current systems are approaching this vital phase of the innovation process
correctly. Companies must determine which concepts are best placed to drive
growth before huge budgets are dedicated to R&D, product and packaging
development, and marketing campaigns. eValuate express enables companies to do
so by measuring the incremental growth the concepts will deliver rather than
other outdated measures.
Also, unlike traditional screening tools, which give equal weight to every
respondent, this approach looks at consumer behavior at anindividual level –
for example, whether someone has a high or low probability of purchasing the
new product. This allowsa much more accurate prediction of the“expected
value” thateachcustomerwill provide.
Based on TNS’s flagship growth tool, ConcepteValuate,brands can benefit from
asignificantly faster turnaround time of just 24 hours. Organizations today
are under increased pressure to drive growth from innovation and get new
products to market quicker while reducing failure rates simultaneously.
eValuate express provides the growth insight they need with the turnaround
time they require.
DavidSoulsby,Global Director, Innovation and Product Development, at TNS,
said: “Giving a concept the ‘green light’ involves committing significant
investment to product development, so concept screening is a critical phase in
the innovation process. However, decisions at this stage often have to be made
quickly to drive speed to market.
“Most screening promotes the concepts with the highest trial potential.
However, this approach is fundamentally flawed, because these ideas don’t
always provide the best growth opportunity due to the value-destroying menace
“eValuate express helps to identify and prioritize those concepts that will
deliver growth for your company. And it provides results in as little as 24
hours after commissioning a study to help you make those decisions fast.”
Notes to editors
TNS advises clients on specific growth strategies around new market entry,
innovation, brand switching and customer and employee relationships, based on
long-established expertise and market-leading solutions. With a presence in
over 80 countries, TNS has more conversations with the world’s consumers than
anyone else and understands individual human behaviours and attitudes across
every cultural, economic and political region of the world.
TNS is part of Kantar, the data investment management division of WPP and one
of the world's largest insight, information and consultancy groups. Please
visit www.tnsglobal.com for more information.
Kantar is the data investment management division of WPP and one of the
world's largest insight, information and consultancy groups. By connecting the
diverse talents of its 12 specialist companies, the group aims to become the
pre-eminent provider of compelling and inspirational insights for the global
business community. Its 27,000 employees work across 100 countries and across
the whole spectrum of research and consultancy disciplines, enabling the group
to offer clients business insights at every point of the consumer cycle. The
group’s services are employed by over half of the Fortune Top 500 companies.
For further information, please visit us at www.kantar.com
Stephen Shively, 512-314-1810
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