2014 Most Memorable New Product Launch survey shows new product discovery is more social-media-driven than ever before
BOSTON — (BUSINESS WIRE) — January 15, 2015 — The 2014 annual Most Memorable New Product Launch ( MMNPL) survey, conducted by Schneider Associates and Sentient Decision Science, reveals the top 10 product launches consumers recognize as most memorable, as well as sources of influence used to discover and purchase new products. The top product launch of 2014 is the iPhone 6 Plus – a coveted piece of tech – no surprise considering this is one of the first years the iGeneration (iPhone generation) is influencing the results. The survey uses a census-balanced research method applied across a range of consumers including the iGen, millennial, Gen X, baby boomers and 67+ groups, and the results indicate that marketers and brand experts who have yet to incorporate digital and social media into their launch campaigns are going to experience difficulty marketing to younger generations if they are not implementing integrated marketing campaigns.
In the hyper digital generation in which we live, more people – especially digital natives – use technology and social media to learn about new products.
The top product launches of the 2014 MMNPL survey are the iPhone 6 Plus (#1), Xbox One (#2), PlayStation 4 (#3), Amazon Fire phone (#4), Taco Bell Waffle Taco (#5), Flatizza at Subway (#6-tie), Gillette Fusion ProGlide Power Razor with Flexball Technology (#6-tie), Taco Bell A.M. Crunchwrap (#7-tie), Samsung 86-Inch UHD TV and Curved Sets (#7-tie), Cheerios Protein Cereal (#8), Colgate Optic White Toothbrush ± Whitening Pen (#9) and Swiffer Sweep and Trap (#10).
“This is the first time in the MMNPL 13-year history the survey included the iGeneration, specifically 18-20-year-olds, in the sample. This young consumer demographic is disrupting the product launch space, confirming that social media is playing an increasingly important role in influencing consumer purchasing behavior,” said Joan Schneider, CEO of Schneider Associates. “This is the first time social media has come directly behind traditional media as an information source. While TV still remains the top source when learning about a new product (68%), for the first time, Facebook claims the runner-up position (29%).
Age factored prominently into the 2014 survey results:
- Younger generations remembered more new products than their older counterparts. The iGen was able to recall the most new products (56%), almost 10 percent above even millennials.
- iGens and millennials are less likely to use traditional sources of information to learn about new products; 81 percent of iGens and 70 percent of millennials use social media to learn about new products.
Multi-channel media consumption matters. Even when iGens do
use traditional media, 75 percent are also simultaneously using
another screen, whether it is a smart phone, laptop or tablet.
- Also, 62 percent of consumers surveyed reported being online while they watch TV “very often” or “extremely often” – 75 percent of iGens, 70 percent of millennials and 67 percent of Gen X are multi-screen users.
- 42 percent of millennials are likely to search for a product on the Internet they just saw on TV.
- YouTube is the channel for marketing to younger generations; 49 percent of iGens and 34 percent of millennials use YouTube to learn about new products – online overviews and reviews can help brands reach this audience.
- Millennials are more health-conscious than any other generation. Roughly half of millennials surveyed reported on looking for products with attributes such as whole grain, HFCS-free, or a good source of fiber.
“As marketers, we’re always trying to understand the next generation of
consumers and their product launch behavior. The iGen has disrupted the
consumer landscape, as they enter the market with powerful purchasing
potential,” said Schneider. “When you look at the difference in product
recall rates and sources of information, there is a clear shift. iGens
have far different media consumption behaviors than baby boomers.
Marketers need to take note of these differences and mold their launch
strategies to reflect this generational divide, depending on their
target consumer audience.”