Q. Why should we participate now instead of waiting a year to see how it goes?

A. If you are interested in leading in the area of innovation and new product development, then this program will be of significant potential value with minimum financial risk. There is already a 5 year North American track record with the Canadian program. However, in order to get off the ground and succeed it needs the participation of leading high quality companies and their brands. By participating early you also have the chance to be involved in the direction of the Awards program. The initial companies that participate will gain tremendous media exposure and other PR activities highlighting the launch of a significant new program. As well, participating companies gain access to valuable consumer insights in what will likely be one of the most important independent research studies in the area of innovation and new product development. 

Q. How much does it cost?

A. There are two fees –A survey participation fee of $15,000 per product and a winner’s marketing promotion fee of $35,000. The winners fee not only ensures you can use the logo but also includes participation , with other winners, in Better Homes and Gardens full page coverage in Spring 2009 and in a custom mini-site that will be developed within BHG.com.

Q. Why is there a fee for winners over and above the initial survey participation fee?

A. There are significant costs to run this program including the delivery of such a substantial research study and marketing program. During our initial needs assessment and due diligence with senior marketers, it was felt that the financial benefits were clear for winners (award, logo use and additional winners coverage in Better Homes and Gardens), but participants wanted their financial exposure limited if they did not win. Of course, all participants still obtain coverage in the initial PR announcement, as well as a copy of the highly valuable research study conducted among 100,000 US shoppers. (valued at $80,000)

Q. How will you ensure that this award will be meaningful to consumers?

A. Our partnership with Better Homes and Gardens, one of America’s top read women's magazine will offer key exposure in their magazine and their highly visited website www.BHG.com. Significant Public Relations activities will be undertaken with our PR firm - we have a solid track record in Canada. For examples of the Canadian activities please visit www.BestNewProductAwards.com

Q. What is the timing?

A. The deadline for participating is set for September 30th, 2008. The survey is expected to be in field in the fall of 2008. The Gala Awards will also take place in early 2009. Winners will be published in the May issue of Better Homes and Gardens. BH&G will also publish the winners in an exclusive mini-site hosted on BHG.com which will launch following the announcement of winners in early 2009.

Q. How are the winners selected?

A. By a proprietary research methodology tested in Canada and reviewed and approved by marketers. There will be an internet survey conducted among 100,000 randomly selected Americans representative of the American population. 50% of the vote will be based on the Appeal of the product and 50% of the vote will be based on the Repurchase Intent among triers.

Q. Who will conduct the research?

A. A consortium of three leading North American research companies will conduct the research. BrandSpark International and IMI International will design and conduct the Internet survey, and are working in conjunction with the Better Homes and Garden research team and partners.

Q. How will the Awards Program be governed?

A. There will be an independent Supervisory Board – the initial Chair is Dr. Robin Karol, PHD, NPDP, Executive Director of the Product Development Management Association (PDMA). In addition well-respected board members are being recruited.

Q. We already participate in other awards (jury based or reader’s choice) - why should we participate in this program which may also be more expensive?

A. The awards are different and complementary. Think of the entertainment industry where there are the Academy Awards chosen by a jury and the People's Choice awards chosen by viewers. It’s the same here: Jury based awards are chosen by juries with limited numbers of juror and the Best New Product Awards are chosen by 100,000 American consumers representative of the US population and are also chosen based not only on appeal but on repurchase intent following trial. So, this basis can be very useful to marketers who are used to relying on fact-based research. In most industries advertisers have access to numerous awards and frequently make use of these multiple awards in their communication. We have found that the television media outlets who provide substantial TV PR coverage have been motivated by the fact that the winners are chosen by real consumers and the program is run by a well respected independent market research firm. This program will be the only “People’s Choice” awards program that is endorsed by Better Homes and Gardens, one of America’s most trusted brands.

Q. Are products with strong market shares favored over smaller brands?

A. No. The purpose of the making the second vote for Repurchase Intent among triers ensures that each product has an equal chance.

Q. What do we get?

A. All participants will get exposure in all PR activities, a copy of the valuable research study, and invitations to all Best New Product events, including the annual Gala Awards (valued at over $80,000). All winners also receive marketing support via Better Homes and Gardens print and online campaigns together with exposure in other significant PR activities. The total value for winners of the research report as well as the marketing and PR activities is well over $160,000. In addition Better Homes and Gardens will be making high impact advertorial opportunities available to winners to profile their individual winning products (1/4 or ½ pages will be available at significantly reduced rates - $15,000 for ¼ page and $27,500 for ½ page)

Q. Can we be involved and provide input and guidance to the program to ensure that it meets our needs?

A. Yes. We will be establishing a Corporate Advisory Board which will be composed of representatives of the participating companies. This Board will provide guidance to the program to ensure that their needs are being met. This board has been very effective in Canada.

Q. What insights can we expect from the survey?

A. We will be asking the 100,000 respondents a series of attitudinal and motivational questions that have already been pre-tested in quantitative research. We will be designing and preparing an attitudinal segmentation of the US Population based on their attitudes towards new products and innovation (“Early Adopters”). In addition, we will be gathering insights on the motivators for purchase of new products and how traditional and new media choices influence new product purchase behavior. These analyses will also be cross-linked with the Appeal and Repurchase questions. These research results will be available to participating companies.

Q. Can we ask proprietary questions on the survey?

A. Yes – to a limited extent. There is room on the survey to accommodate a limited number of company proprietary questions. Companies will be approached in the priority that they have signed up.

Q. Can this program increase sales?

A. We strongly believe that it can. IMI International conducted quantitative concept consumer research on our behalf and a high % of consumers responded that they would be interested in trying products that had been selected a Best New Product –in fact, this program tested within the top 10% of their database of over 6,000 concept ideas (copies of the research results available upon request). Further research studies conducted in Canada with Canadian marketers have demonstrated the impact of winning a Best New Product Award.