Is the launch of my product successful?
Launching a new product is a costly undertaking, so it’s crucial to ensure its success. Closely monitoring the launch is essential to make timely adjustments if something goes wrong.
Case
The supplier has launched a new product and wants assurance that it is successful, so he can adjust if necessary.
How do we assess the performance of the new item?
Through the Category Report:
The product had a strong start, especially compared to other products in the supplier's range. Both in terms of out-of-pocket and penetration, the product performs very well. The out-of-pocket per trip is low, but given that the item is smaller than the other products in the comparison, this is not unusual.
However, we notice that penetration has been showing a slight downward trend in recent months.
Source tables: Go to the 'Category Overview' (available in Basic and Advanced Pack) tab 'Data per period' and select the new product. Optionally filter similar products to make it clearer.
Through the Launch Pack:
With a Launch Pack, we can study the performance in detail: we can compare with competing products and we only focus at stores where the item is sold.
Here too we see a good start to sales, but over time the product falls below the median of the benchmark. Especially with repeat purchases, there seems to be a problem. Do customers not like the product or do they forget the product outside of promotional periods?
Source tables: In the 'Launch Pack' (available as AdHoc analysis), select the study you want to analyze and go to the next tabs.
Conclusion
Both through the Category Overview and through the Launch Pack, we started out good, but over time it decreases slightly. Through the Launch Pack, we see that especially the repeat purchases performs less compared to the benchmark. The supplier now knows that he needs focus on this.