Similarity Search
What it is
When a new product or innovation is created, the first question is whether something like that exists in the market. The answer is delivered in real time. If similar products exist, strategic alternatives to either positioning the innovation differently, or targeting a different consumer segment are also presented. So it is rapidly clear how best to position the innovation both strategically and tactically.
IN USE
Client Value Delivered
Global client was in the confectionary space and had created a multi-sensorial product. Similarity search revealed that while there were other products similar, there was a wide open space for Gamers who were seeking many of the attributes the product possessed. Algorithms proposed changes that strategically positioned the product to appeal to Gamers. The product has been a runaway success with that market segment.
Who Should Use It?
Brand Marketers derive value in knowing the best way to strategically position the product. Leaders of global insights will know the consumer segments that can be served by the product, and how best to differentiate it from competition. Heads of strategy will know how crowded is the white space the product seeks to fill.