From introducing new products to collaborating with retail trading partners on shopper marketing initiatives, manufacturers have realized they must continuously innovate in order to thrive in an intensely competitive industry. Typically, the challenge for the companies is not coming up with new ideas, but rather determining which ideas work, which doesn’t, and which could work if fine-tuned.
Virtual Labsprovides manufacturers and their retail trading partners the capability to address these challenges through in-store experimentation followed by rigorous, rapid analysis of results.
Brand Innovations & Renovations
The analytical solution that Virtual Labsprovides will enable manufacturers to answer key questions regarding brand innovation and renovation programs, including:
What is the true impact of a program across the product portfolio, taking into account cannibalization and halo effects?
Which consumer segments or retailer types respond better to the program? Why?
How should marketing and merchandising support be tailored accordingly and which trade activities drive the greatest ROI?
Is there a targeted way to structure the roll-out of the program in a way that can maximize portfolio profitability?
Virtual Labssolutions enable manufacturers to answer key questions in conjunction with their retail partners, including:
How can we optimize shelf assortment to simplify the shopper’s buying experience while maintaining category share and gross margin?
How can merchandising solutions within the aisle or department both improve the shopper experience and deliver a positive ROI?
How can shopper loyalty data be used to inform shopper marketing initiatives and create more targeted and relevant marketing messages and offers?
Which brands, messages, times of day, and locations within the store drive the best results for in-store marketing programs?