The NPD Group Introduces New Product Forecasting Service

Jia Guo, former lead analyst for developer of the BASES forecasting system, to lead team

Port Washington, NY, February 29, 2016 – The NPD Group, a leading provider of global market information, announced it is introducing a new product forecasting service.  The service can be used to assess, diagnose, and improve the sales potential of new and revamped products and services before they are launched. 

Jia Guo, will lead the company’s efforts.  Formerly with Lin Consulting (developer of the BASES system), Guo’s expertise covers all stages of product development, including concept evaluation, pre-market sales estimation, and marketing optimization.  

“We’re tapping into NPD’s gold mine,” stated George Terhanian, President, Solutions for NPD.  “Through our point-of-sale and consumer databases, we are able to catalogue how hundreds of thousands of new and revamped products perform, after launch, in multiple industries.  It’s difficult to overstate the value of that one-of-a-kind information; it serves as the ideal check and basis for calibrating, validating and refining our sales forecasts.”

NPD will also offer a concept testing service to work hand-in-hand with the forecasting service.  NPD’s overall approach will deliver a quantitative pre-market sales forecast, including simulation of multiple launch plans, and a source of volume analysis to help marketers evaluate and maximize product potential and marketing ROI among the target population of interest, or even specific segments of that population.   

This is the latest addition to NPD’s expanding portfolio of data-driven solutions that help manufacturers and retailers understand and optimize performance.  It follows the company’s recent roll-outs of segmentation and market mapping services.

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