How early audience insights reduce innovation failure
Learn how understanding audience habits first prevents costly innovation failures and gives companies a strategic advantage during uncertain times.
Promotions are tricky. They tend to be temporary and have an immediate impact on the volume sold. However, they may also have longer term impacts such as stocking up which could impact volume sold after the promotion period and increased trial which can result in changed attitudes towards the promoted brand.
Together with PepsiCo, we have run a pilot study where we modeled the market from two perspectives: past sales data as well as an ad hoc conjoint study in order to find a way to identify the best (new) promotions, and assess both their short term and their long term impact. Based on these results, we presented together at the MIE 2018.