We are a motley group of people with a vibrant mix of youth and experience amongst our ranks, possessing a wide range of skill-sets and training. We are researchers, designers, statisticians, economists, ethnographers hailing from diverse backgrounds. We draw on each other’s talents and capabilities to conceptualize solutions to complex problems and deliver them in the simplest, most impactful manner.

Our expertise lies in the field of forward-looking consumer understanding, be it through segmentation, pricing, forecasting, branding, communication, or product testing. We regularly work with the best minds in academia and technology globally to ensure that our solutions are founded on proven principles and are applied creatively to anticipate the future. We apply cutting edge and latest analytical thoughts, processes and models – from picture recognition to social media analytics to neural networks and agent based modelling – to System-1-inspired methods of consumer engagement. We are constantly validating, challenging, and recasting our own work, in order to keep up with the demanding and ever-changing nature of the times we live in.

Our solutions are flexible enough to adapt themselves to various sectors like FMCG, auto, durables, financial services, telecom etc. They have been used to frame and execute successful strategies across companies and sectors, both in India and globally.

Could traditional concept testing ever have predicted the Facebook phenomenon? Likely not. System 2 dominated, structured questioning yields results that run the risk of rejecting ideas that do not fit in the set mould and accepting mediocre concepts that barely make a mark in reality.

Truly original and innovative concepts might fail tests for potential if the consumer does not see immediate, perceptible, and measurable benefit. The competitive context for categories and brands is also changing with seemingly unrelated products vying for each other’s pie. In such a scenario, how can one gauge the true potential of new / disruptive category / brand ideas / concepts?

Ideastock, Kantar IMRB’s award-winning, clutter-breaking approach, uses new-age crowdfunding principles to gauge innovation potential. There are two primary principles:

• Investment is Intention Practised (if I invest in an idea with view for a product / service reward, not ROI, then I am likely to buy it on launch)
• Momentum Matters (my decision to buy something new is influenced by what I see others doing around me)

We have partnered with Catapooolt, one of India’s fastest growing crowdfunding platforms, to host these concepts in an organic, crowdfunding environment. In line with System 1 processes, the consumer is not forced to choose an option and indeed is not even aware that she is a part of a market research study – they are invited to be a part of a future spotting exercise.

The results of concepts have proven to be more realistic, more actionable than traditional forms. It yields Prospect Matrix that plots the concepts on Engagement (Initial Interest) and Action (investment) and the likely trajectory the concept may follow. There are no constraints on the number of concepts that can be tested with cost and time efficiencies.

Ideastock was the winner of ‘Best Paper’ and ‘Audience’ awards at MRSI conference 2016. To read the full paper on Ideastock genesis, principles and results of the initial studies, click here

Clients who are interested in evaluating their innovation ideas with Ideastock can avail of early bird discounts. To know more, get in touch with ranjana.gupta@imrbint.com.