The Product of the Year endorsement, based on the largest national consumer research of its kind, is a powerful tool in driving awareness and sales of innovative FMCG products.
Previous winning products have seen typical sales increases of 10 – 15%, with some products enjoying even greater success.
Additionally, all Finalists receive a research report valued at RM20,000 by The Nielsen Company.
Below is a summary of the costs:
Product Submission online:Free
Selection by Jury (research fee): RM5,000
Logo Licence fee (winners only): RM25,000
Total for Winning: RM30,000
What is the Jury Selection?
Before being reviewed by 2,000 consumers, entered products are put in front of a Jury panel of industry experts and members of the media who make sure the submissions meet innovation criteria. Products that pass this step are put into the consumer research and must pay the Finalist Fee.
NB: upon entry you are committed to the whole process.
**Win or lose, all Finalists receive the results of this study with information on their category and the most recent grocery shopping trends – research valued at RM20,000 by Nielsen.
What is the Winner Fee?
All Finalist products are put into the nation’s largest research study on product innovation with 2,000 consumers. Consumers vote on products in each category based on innovation appeal, use, satisfaction and purchase intent. Products with the highest score in each category are named Product of the Year winners.
***The winner fee pays for logo use on all communications for one calendar year
When Will I know if I won?
Finalists are notified after their products have been put through to the consumer research stage of the competition. Winners will be confidentially notified mid March and can prepare marketing efforts to start at midnight of the Awards Night on June 2016
When Do I Get the Award?
Winners and Finalists are invited to the Awards Night to find out the winners and celebrate innovation. The 2017/2018 Awards Night will take place on June 2017.