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Innovation Software Produces Products Twice as Successful in the Marketplace, According to Affinnova Study

Affinnova, Inc.

Innovation Software Produces Products Twice as Successful in the Marketplace, According to Affinnova Study

March 1, 2012

WALTHAM, Mass.--()--A recent study by Affinnova, Inc., the global leader in innovation software and services, quantified the boost that products identified through concept optimization technology can expect in market. Affinnova reviewed launches of consumer-packaged goods from 2003 to 2008 and compared the launches of those that used concept-optimization to those that did not. Optimized products were twice as likely to launch, twice as likely to be successful in market and earned almost triple the revenues in the product’s first two years in market.

The study covered 73 consumer products launched over a five-year period and found:

  • Products that used innovation software for concept optimization had a launch rate of 55%, compared to an industry average of 27%
  • Of those products that did launch, 44% of optimized products achieved significant sales through the first 24 months on market, compared to a 25% success rate for the others
  • Optimized products earned an average of $23.7 million in revenues during the first 24 months, compared with average revenues of $9.0 million for non-optimized products

Innovation software using concept optimization provides a superior alternative to conventional innovation processes for developing products, advertising and design. Optimization allows for a wider assessment of every aspect of a product’s concept, including branding, positioning, features, packaging and more. Optimized concepts are three times more likely to beat the leading competitor than non-optimized products, according to earlier research on optimization performance.

Affinnova’s President and Chief Executive Officer, Waleed Al-Atraqchi, said, “The success of concept optimization technology is powering our clients’ growth. We’re confident our new solutions – including Affinnova Concept Studio, our Software-as-a-Service offering for concept collaboration – will boost their growth even higher.”

About Affinnova

Affinnova is a high-growth software and services firm that enables innovative companies to drive better ideas to market faster. Unlike conventional market research, our patented survival-of-the-fittest approach has the capacity to explore extremely large idea spaces by applying evolutionary search algorithms to product and marketing innovation. Global Fortune 500 companies, including major restaurant chains and brands such as Procter & Gamble, Unilever, Nestlé, PepsiCo, Pfizer, Johnson & Johnson, Walmart and Citibank, depend on Affinnova to deliver accelerated launch timing and higher success rates. For more information, please visit www.affinnova.com.

 

 

Contacts

MoreInk PR
Martha Popoloski, +1 781-405-8328
mpopoloski@affinnova.com