A validation is simply the comparison of BASES’ estimated
sales for a brand to its actual sales when introduced. This
exercise is usually conducted one year after a new product’s
launch, but can be conducted earlier if needed.
Beyond this validation process, BASES regularly conducts
full Launch Reviews on our clients’ new products. A Launch
Review yields a tremendous amount of learning for our
clients that can help improve management of the new product
development and launch process:
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where
marketing activity exceeded or fell short of the pre-market
plan |
|
|
what
marketing vehicles are under- or over-performing |
|
|
“success
models” to duplicate for future launches |
A Launch Review program allows marketers to improve the
accuracy of their “total system”, by driving better
assumptions on marketing execution going into subsequent
BASES forecasts. In turn, improved system accuracy pays
major dividends on the ROI behind a total new product
development program.
For BASES, Launch Reviews are equally valuable, providing a
continuous stream of learning to help us refine and enhance
our models. These reviews keep us close to our clients and
the marketplace, and help us understand market shifts and
evolution of different product categories over time.
At BASES, we are so convinced of the value of Launch Reviews
that we provide them at no charge to our clients.
A growing number of our clients have implemented BASES
Launch Reviews as a standard part of their new product
development process.
As a result of our dedication to validation, we have amassed
over 1,400 such cases around the world, and this number is
constantly increasing. No other STM can match this number of
validations, much less the rigor and science we bring to the
exercise.
The accuracy record associated with BASES validations is
outstanding, with the typical forecast within 9% of actual
sales. |
