Integrated solution brings Voice of the Customer into the product
development process, enabling retailers and manufacturers to increase
the success rate of new products
As part of this initiative, First Insight’s cloud-based platform is being integrated with PTC Windchill FlexPLM. This integration enables retailers and brands to validate new designs at multiple stages during the product development process. Product designers can quickly gain consumer feedback, filtered through First Insight’s predictive models, to make fact-based decisions on which designs represent the greatest opportunity for success. Further, First Insight’s technology provides retailers and brands the knowledge to more accurately price new product introductions.
“Our customers are focused on launching winning new products,” said
According to a recent report by Gartner, the world’s leading technology analysis and advisory firm, “The single most difficult decision for a merchant is understanding consumer demand for styles and colors. Merchants bring to market merchandise that has never sold before, and they have no consumer data in the planning phases to indicate how consumers will respond.”1
The Gartner report continues: “Software providers are beginning to offer tools that engage consumers through social media and loyalty programs to understand their preferences for styles, colors and pricing. One such approach uses social media in the form of games that consumers play. The consumers assort their own stores and share these with their friends, or they play a "what would you pay" game. Merchants receive quantified results that provide insights into the appeal of a style and color as well as the preferred price. Companies using these tools are reporting meaningful improvements in revenue and margins, with the ultimate result of fulfilled consumers.”
First Insight is the leading solution empowering companies to drive new product success by introducing the right products at the right price. Through the use of online consumer engagement, the First Insight solution gathers real-time consumer preference and pricing data and applies predictive analytic models to create actionable insights, which inform new product decisions. Retailers and brands use the First Insight solution to design, select, price and market the most profitable new products for improved sales, margins and inventory turnover. Customers include leading department stores, specialty and vertically integrated retailers, and manufacturers. For further information, please visit www.firstinsight.com.
1 “2013 Unified Apparel Model Reflects Maturing Supply Chain Strategies”, Gartner, Inc,
PTC, Windchill, FlexPLM and PartnerAdvantage are trademarks or registered trademarks of
First Insight, Inc.
Chief Marketing Officer