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NEW YORK -- The Nielsen Company said yesterday that BASES, its forecasting and consulting service for new products, and Newtown, Ohio-based Eureka! Ranch Technology, Ltd., a consulting firm specializing in new product innovation, would join forces to offer clients an integrated approach to identifying, developing, and optimizing new products.
Under the agreement, BASES will now license Eureka's patented capabilities for developing new ideas, among them Eureka 7.0, an idea-engineering system, and Merwyn Research, a quantitative concept improvement tool. These tools complement BASES' new product consulting and forecasting capabilities, enabling marketers to measurably boost their odds of success in BASES testing and in the marketplace.
"Eureka! and BASES share common values around what drives successful concepts," said BASES president Tim Willke in a statement. "Bringing our capabilities closer together allows our clients to benefit from enhanced continuity and richer consulting throughout the new product development process."
"Through the Eureka!/BASES relationship, clients will be able to develop bigger ideas that are more advanced when they go to consumers for testing with less rework," noted Eureka! founder and c.e.o. Doug Hall. "Our minimum client goal from this agreement is a doubling of the number of winning concepts and a reduction of concept development time by at least 50 percent. And this is just the first phase of improvement. Beta tests of additional system improvements are realizing as much as a fivefold improvement in the number of great ideas and time to market."
The Nielsen Company, a global information and media company with leading market positions and recognized brands in marketing information, media information, business publications, trade shows, and the newspaper sector, is the parent company of Progressive Grocer.