Increasing New Product Trial Rates
Find out about the factors that impact the percentage of consumers that trial a product, which marketers can influence and drive.
Financial Forecasts in New Product Decisions
A financial forecast model for new products is simply one of the areas of evaluation for the go/no-go decision on whether or not to develop the product and take it to market.
Limitations of the ATAR Forecasting Model
While there are numerous benefits of using the ATAR forecasting model for new products and marketing, there are also some limitations and cautions that you need to be aware of when using this approach.
Benefits of the ATAR forecast model
The ATAR forecasting model is designed for marketing purposes. So let’s explore the key advantages and benefits of using this forecasting model for new products and marketing.
Availability in the ATAR Forecasting Model
Availability refers to the extent that the new product is available to consumers through retailers, various direct channels and online.
Trial in the ATAR Forecasting Model
A trial refers to a first-time purchase by a consumer. This is where a consumer pays money for the product for the first time– either at the full rate or discount due to some form of sales promotion.
ATAR Variations: Different Business Models
This article highlights the various times that it will be necessary to modify the ATAR model and provides examples of how to achieve this accurately.
Awareness in the ATAR Model
Awareness is a measure of what proportion (percentage) of consumers (or other buying units) will become aware of the product – whether or not they buy it.
ATAR Forecast Model Formula
The ATAR forecasting model is generally used to help marketers forecast sales volumes, sales revenue and profit contribution, primarily for new products, but it can be used for any marketing campaign or project.
Four brand strategies
When it comes to brand development, there are four main brand approaches, as shown in the following diagram. As you can see, this diagram is a matrix built around the two attributes of existing/new product category and existing/new brand name. This then determines one of the four boxes, namely: Product line extension Multi-brand Brand extension …
