Möchten Sie zur deutschen Seite wechseln?JaNeina
Close
Market Opportunities and Innovation image

Market Opportunities and Innovation

Brands are under constant pressure to maintain relevance in an increasingly crowded market. Knowing when, where and how to deliver compelling experiences that create added value for both consumers and brands is critical.

Identifying market innovation opportunities means getting the right balance between competitive trends and market influencers and evolving consumer needs. To succeed, brands need to understand how to connect new products or services with consumers’ lives.

GfK designs and develops new emotive experiences that keep your brand fresh and relevant by anticipating future needs. We guide you on your innovation journey - from growth planning to product launch forecasts. Core deliverables include a compelling pipeline of new experiences, validated against all relevant market criteria, and an activation plan that defines where, when and how to win.

Molemo Moahloli
South Africa
+27 11 803 1300
Success Stories
  • Assessing fresh pasta concepts for the US market

    Assessing fresh pasta concepts for the US market

    05.09.2017

    We helped a multinational FMCG company optimize two new product ideas for an existing pasta brand.

    Situation

    Our client was considering adding two extensions to an existing line of fresh pasta products in the US market. It wanted to understand the key consumer drivers and barriers around these potential concepts in order to define and shape the future brand portfolio. The company asked us to assess consumer reaction to the concepts and offer guidance to optimize the offerings.

    Approach

    We used our early-stage screening and testing methodology to determine which concept had the most emotional resonance for consumers. We introduced the new concepts and a control concept to customers and asked them to tell us what they thought about the ideas in natural conversational speech. We analyzed their voice recordings to appraise their emotional response (how they spoke about concepts) as well as what they said. To provide a link to historical product performance, we paired this research with traditional key performance indicators such as purchase intent, price value, uniqueness and solving a problem for consumers. We tested each concept with around 300 respondents – males and females aged 18 to 64 who were principal grocery shoppers in their households and aware of fresh pasta brands. Because of the similarity of the product ideas, we tested only one with each respondent.

    Outcome

    Our study found that while both product line extensions were promising, one stood out as a compelling offering with a higher level of consumer engagement. We recommended the food and beverage company move ahead with that offering first. From our analysis of customers’ open-ended commentary, we suggested ways our client could enhance advertising communication, tweak product formulations and refine package information. The company is currently developing the concept into a commercial product. We also suggested ways the client could improve variety, pricing and size for the second concept to enhance its appeal.

    Click here to download our success story (long version)

  • Commercial assessment of a new immunotherapy

    Commercial assessment of a new immunotherapy

    21.09.2016

    We conducted secondary research to explore the current sepsis market and the current and future competitive landscape.

    Situation

    As part of due diligence on a potential in-licensing target, we were asked to provide an independent expert view on the commercial potential for an innovative treatment for severe sepsis.

    This required us to:

    • assess the size of the targeted severe sepsis population, diagnosis and treatment rate
    • understand the current treatment patterns, unmet needs and expectations and opportunities for new treatments
    • review the current and future competitive landscape
    • test potential target product profiles
    • develop potential pricing, access and uptake scenarios for the different target product profiles(TPPs)
    • establish revenue potential based on the different scenarios
    • highlight the critical success factors and risks

    The geographic scope included France, Germany, Italy, Spain, the UK, the US and Japan.

    Approach

    We conducted secondary research to explore the current sepsis market and the current and future competitive landscape. We then undertook primary research with payers and key opinion leaders to address any gaps in our research, to test potential TPPs and to gain external validation on potential pricing, access and uptake scenarios.

    Outcome

    We delivered our top-line findings on the critical areas for commercial success in an executive presentation. In addition, we supplied a detailed report of the research findings, including feedback about the actions the client should take to maximize the commercial potential of the asset.

    Click here to download our success story

    Timothy A J Fitzgerald
  • Driving informed investment decisions for a new treatment

    Driving informed investment decisions for a new treatment

    21.09.2016

    We collected extensive information on disease prevalence, diagnosis and treatment guidelines and the pricing and reimbursement landscape through desk research in the EU5

    Situation

    Before taking an in-licensing decision for a new drug targeting primary biliary cirrhosis and non-alcoholic steatohepatitis, our client wanted to assess the commercial opportunity for the treatment. This required us to:

    • assess the size of the target population, the competitive landscape and the target product profile
    • evaluate the willingness to pay for new treatments, potential price opportunity, diagnosis and treatment rates, target treatment population size and likely market share
    • obtain actionable recommendations and a revenue forecast model to inform its decision

    Approach

    We collected extensive information on disease prevalence, diagnosis and treatment guidelines and the pricing and reimbursement landscape through desk research in the EU5 (France, Germany, Italy, Spain and the UK) and the USA.

    Then, we used this information to develop primary research materials, including prereading material and a discussion guide and subsequently interviewed key opinion leaders, physicians and payers in the scope markets.

    Finally, we built a forecast model based on realistic assumptions of market performance.

    Outcome

    Our final forecast model and report covered multiple scenarios for the drug we assessed.
    This enabled our client to make an informed investment decision.

    Click here to download our success story

    Timothy A J Fitzgerald
  • Simulating the future market for inflammatory disease biosimilars

    Simulating the future market for inflammatory disease biosimilars

    21.09.2016

    Our client wanted to help affiliates in eight countries to better understand the threats and opportunities this evolving competitive landscape will bring in the years ahead.

    Situation

    Two opposing forces are shaping drug prices in the inflammatory disease market: the downwards pressure from biosimilars and upwards pricing aspirations of bio-betters. Our client wanted to help affiliates in eight countries to better understand the threats and opportunities this evolving competitive landscape will bring in the years ahead.

    Approach

    We designed, planned and facilitated a series of country-specific, interactive war games to simulate the evolution of the inflammatory disease market landscape over several cycles.

    These sessions helped to increase awareness and deliver insights to the pharma company’s affiliates in the UK, Germany, Italy, Spain, Netherlands, Sweden, Norway and Denmark. We also identified strategies and tactics, including risk mitigation, to maximize commercial success in the target markets.

    Outcome

    We delivered country-specific reports to our client’s affiliate teams to help them understand how pricing and market dynamics are likely to evolve in the years ahead. In addition, we synthesized the lessons from each war game into a Europe-wide learning package.

    Our client now has a consolidated set of learnings that are helping them validate the opportunities for, and threats to, their European strategy.

    Click here to download our success story

    Timothy A J Fitzgerald

Related Products for Market Opportunities and Innovation

Latest insights

Here you can find the latest insights for Market Opportunities and Innovation. View all insights

    • 01/06/16
    • Market Opportunities and Innovation
    • South Africa
    • English

    As curious as the dark side of the individual

    Segmentations can be an incredibly powerful tool for businesses, providing strong platforms for innovation and a targeted approach to customer relations. However the strength of segmentation hinges on the level of similarity between the individuals in each segment. The greater the similarity the more comprehensively the group represents its’ individuals and as such the more accurately it predicts their behavior. The more angles that we can describe the individual from the more points of similarity we can draw between them. Each individual angle is only part of the picture of the individual, like the sun shining on the moon. The majority of segmentations are based around one angle; the articulated views of an individual, what they say they do, what they think, what they want etc… However there are a couple of inherent problems with this, firstly articulation statements can be very hard to write, and must be carefully thought out in order to ensure they resonate and are interpreted in the same way for consumers, particularly across international borders. Take the statement “It is important to me to eat healthily”; there are a number of areas that this statement can be open to interpretation by the respondent; what is the definition of healthy? How important does it have to be? The second major issue with an articulated segmentation is that it is all based around a respondent’s view of themselves as opposed to an impartial third party view of them. A respondent may say that eating healthily is important to them however if we looked at their shopping bills we might see that they buy a below average amount of fruit and vegetables. By looking at consumers from the articulated angle we don’t see an accurate picture of their actions. Experiments in behavioral economics have routinely shown that the gap between our view of ourselves and the truth is wider than we think. A shining example of this is consumers’ understanding of mobile tariff usage; despite the myriad of different ways to track data usage, the vast majority overestimate how much it is that they use. For a complete picture of the individual we must take into account this discrepancy between perception and behavior. An example of this would be m-commerce; to identify the leading edge consumers you don’t want to look at those that say they are happy to make payments through their mobile you want to look at those that already do.

    But there are a number of different ways we can look at the individual from a behavioral angle;

    Consumers can report their behavior and this is often the most cost effective way of collecting behavioral data; however it needs to be done carefully to avoid the pitfalls above. Questions need clear parameters and to be strictly reporting as opposed to summarizing or predictive.

    Take activity frequency:

    1. How many times have you been swimming in the last month?
    as opposed to;
    1. On average how many times a year do you go swimming?
    or
    1. How many times will you go swimming in the next year?

    There are a variety of other ways to build the behavioral angle but the availability of these can vary greatly by market:

    • Data from passive monitoring of smartphones, geo-tagging and browser recording
    • Qualitative ethnography can give an independent observation of the individual
    • Customer data such as sales can be used by organizations to provide rich understanding of an individuals’ specific interaction with the brand. Particularly useful when designing a segmentation that can be integrated back into a client database
    A purely behavioral based segmentation however is also a floored concept because it does not acknowledge the importance of the idealized self. The idealized self is a product of our aspirations and these are what drive purchases. We may see ourselves as a bit of a foodie and so will be drawn to the look of the fridge advertised alongside bottles of wine and wheels of stilton. We convince ourselves that we definitely need the ambient section for storing Merlot at optimum temperature, even if our appliance rarely sees anything more adventurous than Carlsberg and Baby Bell. The aspirational self is a key part of the marketing and messaging value of segmentation. It is essential to understand the consumer not just from your own perspective but theirs’s as well.

    The most powerful segmentations therefore will have the most rounded view of the individual including;

    • Company understanding of the way in which a consumer interacts with its products
    • Consumers’ perception of how they feel and what they want
    • Consumers’ reported behaviors
    • Observation of consumer behavior
    For more information please contact Samuel Carter at samuel.carter@gfk.com.
    • 10/25/17
    • Retail
    • FMCG
    • Market Opportunities and Innovation
    • Trends and Forecasting
    • Global Study
    • Global
    • English

    Low-sugar and GMO-free are top factors when deciding what to eat or drink

    Nearly half of consumers across 17 countries rate low sugar and GMO-free as "very" or "extremely" important when deciding what to eat or drink - just ahead of factors such as low-salt, organic, low fat, or fortified with vitamins or minerals.
    • 10/05/17
    • Optics and Acoustics
    • Market Opportunities and Innovation
    • Point of Sales Tracking
    • Global
    • English

    10/17/17 - 10/19/17
    GfK presents Optics growth drivers at Vision-X Dubai

    Join GfK at Vision-X 2017 for the latest Optics trends, including the product categories and trends that are driving growth in Europe and MENA, and how to grow your business.
    • 09/28/17
    • Financial Services
    • Automotive
    • Market Opportunities and Innovation
    • Trends and Forecasting
    • Global
    • English

    What impact is renewal transparency having on the British motor insurance market?

    Premium Drivers

    If you have renewed your motor insurance recently you may have noticed that the price your insurer has asked you to pay has probably increased. A combination of higher Insurance Premium Tax (rates have doubled over the past two years), bigger injury pay-outs and rising vehicle repair costs mean that motor insurance prices are now at an all-time high. Even for those of us savvy enough to shop around and switch provider, prices have also typically risen, despite the fact that the market remains as competitive as ever. However, it still generally pays to switch, as the vast majority of motor insurance providers are still willing to chase new business and therefore many still offer introductory discounts. Given this, it is somewhat concerning that, according to GfK’s Financial Research Survey (FRS), that the number of drivers who do switch has remained basically unchanged compared to four years ago. The number has held steady at around a quarter of drivers. So it would seem that many drivers don’t know, don’t consider, or just can’t be bothered, to change provider, despite the rising prices.

    Motor insurance renewal transparency: early signs of increased shopping around

    But there are tentative signs that this might be changing. Since April 2017, insurance providers have had to disclose prior year premiums on renewal notices. These new rules mandated by the FCA allow customers to compare more easily what they paid last year versus what they may pay this year, if they remain with the same provider. Early signs suggest renewal transparency has helped encourage greater levels of shopping around but this hasn’t so far translated into actual switching. According to the FRS, the proportion of drivers who “actively renew” their motor insurance (renew but take out at least one quote) has grown and now stands at 29%, the highest-ever level. In addition, a high proportion of those who have switched in the last 12 months also state that they are likely to switch again. On the other hand, large numbers are still auto-renewing on their motor insurance, particularly across older age groups where auto renewal rates remain stubbornly high at over 45%. For these customers, renewal transparency rules mean that providers must now also include additional disclosures on renewal notices explicitly encouraging people to shop around. Overall, I think renewal transparency has definitely been a useful step forward in making the motor insurance market more consumer friendly, and it will be interesting to see if it helps encourage greater levels of switching in the months ahead. If you would like more data, please contact me.

    The Financial Research Survey (FRS) is one of the largest and longest running surveys tracking personal financial holdings and behaviours and is considered the industry benchmark within the British financial industry

Contact us
Molemo Moahloli
South Africa
+27 11 803 1300
General