Prediki PROMPT

Predictive Research for Online Market and Product Testing

When to use PROMPT

Predictive Test Marketing (PTM) with Prediki PROMPT only requires participants’ current knowledge and market observation rather than a big database of historic market data, prior questionnaire results and fully detailed marketing plans. This now allows concept and product testing where such data is scarce or - due to higher innovation content or regional differences - not comparable enough for Simulated Test Marketing (STM).

New product subcategories regularly show the limitations of STM in the area of product innovation. Let us take Procter & Gamble’s cleaning mop "Swiffer" and General Mills’ "Greek Yoghurt" for the U.S market. Swiffer’s Brand Manager, Laura King, said that BASES testing predicted first year sales from $20 to $40 million, well below P&G’s $100 million hurdle. Luckily P&G’s Chief Operating Officer Durk Jager was sceptical of BASES’s results and approved the launch. Already in 2013, Swiffer was a national household brand with $700 million in sales in the U.S. alone (Neff, 2013).

STM tools require an extensive and firmed-up marketing plan as input to the model, which adds to setup time, whereas with Prediki PROMPT the marketing plan can change at a later time if required. Only at the last stage, which combines price elasticity testing and volumetric forecasting, does Prediki PROMPT need a high level summary of marketing support and distribution coverage to optimize the accuracy of the forecasts and qualitative insights. Should things change - which is increasingly likely as businesses are becoming more agile and economies more volatile - Prediki PROMPT can update its quantitative results in a matter of two or three days to reflect the new situation

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