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Nielsen BASES' innovative solution debuts in Vietnam

Released at: 10:51, 09/07/2019

Nielsen BASES' innovative solution debuts in Vietnam

Photo: Nielsen Vietnam

Innovation toolkit aims to win with transformation towards Industry 4.0.

by Khanh Chi

Nielsen BASES, the global market leader in predictive innovation evaluations, has launched its range of agile solutions powered by its digital Studio platform in Vietnam, responding to multiple business challenges that marketers face in today’s fast-paced consumer landscape, dynamic retail environment, rapid competition, and hyper-fragmented consumer needs.

Tailored to Vietnam, BASES aims to lead innovation evolution towards Industry 4.0 and has successfully worked with manufacturers to deliver these solutions to the marketplace. At the same time, it aims to help companies set readiness for new product penetration.

With the market going through critically rapid changes, there is an increasing need to evaluate new product ideas more rapidly but with predictive metrics to minimize business risk and maximize return on innovation investment.

However, current innovation testing tools often fall short on predictive data reliability. In fact, Nielsen found that seven out of ten marketers who use current fast testing solutions are dissatisfied with the quality and predictive reliability of the results, according to the Nielsen State of Concept Testing survey of 200 CPG marketers.

This is exactly the appropriate time to revamp Nielsen BASES, a world-famous total solution innovation toolkit helping solve all the challenges from this dissatisfaction. This innovation service has taken the world by storm, especially in the US, and was created by the power of the digital Studio platform and now customized for Vietnam, including four solutions.

Firstly, BASES Quick Screen (BASES QS) is a budget and time-efficient suite to prioritize the ideas developed through brainstorming or qualitative research. Quick Screen enables marketers with high-quality reliable analytics at the early stage of innovation by letting them test ideas, claims, benefits, and many other elements in a timely and inexpensive manner.

Secondly, BASES Optimizer (BASES OTM) is machine learning algorithms that help brands identify and quantify consumer needs faster and much earlier in the innovation process.

Thirdly, BASES Go-Global Sales Forecasting Suite (BASES GGSS) is leveraging marketing plan databases, digital assets, and independently-certified proprietary forecasting models, BASES has made market-entry forecasting in 100 plus countries simpler, faster, and more accurate for manufacturers.

Lastly, BASES Line and Price Optimizer (BASES LPO) allows marketers to understand consumers’ reactions to a full range of assortment, pricing, and pack size scenarios in a forward-looking competitive market, and hence optimize the portfolio to maximize growth.

“We are excited to bring cutting-edge innovation analytics to Vietnam, one of the fastest growing CPG markets in the region,” said Ms. Nguyen Huong Quynh, Managing Director of Nielsen Vietnam “We will continue to invest in technology, data science, and growth-enabling solutions to support our clients and businesses to maximize growth opportunities in this market. New consumer evaluation solutions can help consumer goods companies embrace agile yet predictive principles and improve their market entry success by 5X vs. average industry approaches.”

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