'Product of the Year' India celebrates innovation in retail products

Company Brief

Mumbai,September 29, 2010

What do Dove, Vaseline light, Garnier light, Good Knight, LG Jazz Theatre Series, Axe Inxtinct Deodorant Body Spray, Nerolac Impressions Excel, Bilt Eco Friendly Stationery, Nimbooz by 7Up, Whirlpool 1-2- 3 Washing Machines, Fiama Di Wills Gel Bathing Bars, Videocon Refrigerators VAP 233i and 24 other brands from various categories have in common?

They are the winners of 'Product of the Year' 2010, selected through a nationwide consumer survey of 30,000 consumers by an independent research agency - A C Nielsen's. This is reportedly the largest ever face to face consumer survey ever conducted in India.

So what is 'Product of the Year' or POY as it is called?

"Product of the Year" is the global consumer recognition standard that celebrates champions and rewards the best innovations in Retail products done through an independent consumer survey across the country. Some of the most eminent brands that have been participating over the years across various countries are Energizer, Duracell, Unilever, Procter & Gamble, Nestle, L'Oreal, Reckitt Benckiser, Johnson & Johnson, Danone, Heinz and Kingsmill Bread, etc for innovations from product to packaging and anything that results in a key consumer benefit.

Launched in France about 24 years ago, 'Product of the Year' today is a global organization, rewarding innovation in 28 countries through a unique procedure of 'consumer voting'. 'Product of the Year' was launched in India in 2008 and has already been a success with various MNC's and Indian companies participating; The POY 2010 awards saw 36 winners, one from each category.

'Product of the Year' is both a powerful set of words and a simple idea. One cannot buy or network their way to a 'Product of the Year' title. Every year, thousands of consumers get to vote on the most innovative products launched in markets. The brands need to pass the 3 conditions to be eligible for the entry:

1. It needs to launched less than 18 months ago in the Indian markets

2. Need to exhibit 'innovation' in the product technology, packaging or any other product attribute that translates as a value ad to the consumer, &

3. The product needs to be available to the consumers on a retail level.

With offices in 28 countries around the world and a 24 year track record, 'Product of the Year' debuted in India in 2008. The raison de atre for existence can be explained in three simple reasons:

* POY wants to help consumers make the right decisions about the products they buy

* POY wants companies to make better & innovative products

* POY wants to help brands make money

'Product of the Year' does all three by letting consumers endorse their brand with attributes most innovative in their product category. As a result, both the winners and the consumers are in a win-win situation.

CharulataRavi Kuma, CEO, POY India, explains, "The Product of the Year formula is simple. In fact it is a value chain that is created by the consumer and the manufacturer through a continuous process of evaluation by both. The consumer judges the best innovations. The manufacturer strives to better it through better understanding and insights that the POY survey provides. POY's success lies in its ROI model, bringing increased trials, sales and awareness to the best innovations. And this is possible because it is decided by the consumers themselves. Consumers respond by increased trials. Manufacturers respond by increased participation. And in our 3rd year now, we have witnessed both in equal measure."

The Awards: 36 winners, one from each category, were announced at the 'Product of the Year' 2010 awards night on 6TH March 2010 in Mumbai. The Awards Night was much more than an awards ceremony - it was a celebration of innovation and ingenuity that attracted influential marketing and media executives.

POY is now gearing up for the 3rd season of awards - POY 2011 awards, the last day for the entries being 30th October 2010, followed by a filtration procedure by a high profile panel of jury members after which the selected brands go in for the consumer survey and finally a winner is elected in each category.

For further information,please contact:

kreate PR

Urmi Wadhavan

Mobile: +919892180534

Email: mail@kreatepr.com