Are You Using Yesterday’s Forecasting Tools for Today’s Innovations?
The innovation process has changed dramatically over the last several years and yet the primary forecasting tools available to Marketers are basically the same as those used in the 1970s. There have been no significant changes in forecasting approaches despite the fact that the early stages of innovation have become a greater focus, time to market has been cut dramatically, advertising is being developed earlier, and retailers are giving new products less time to prove themselves at the shelf.
With so many issues to address and deadlines to meet, Marketers are finding traditional forecasting tools too rigid to apply to current new product development processes. In response to today’s challenges, Ipsos Marketing has developed an alternative approach to forecasting that significantly changes the way this critical research tool can be used in the development of new products.