In the start of November, GfK launched GfK FutureWave, an approach that identifies innovation spaces by harnessing cultural shifts and new market activity that will influence tomorrow’s market.
Using a framework that links evolving consumer needs with new market activity and experiences, GfK’s solution helps companies predict where their category is heading and what new benefits will resonate with their consumers. It assists the creation of successful innovation strategies by offering a complete picture of potential changes on the horizon, together with an understanding of how these forces will shape a category and influence future consumer needs.
GfK FutureWave is unique in that it affords a powerful dual perspective from both within, and beyond, a brand’s competitive set. The ‘inside-out’ view shows the dynamics that are driving change from within a specific category. And the ‘outside-in’ view assesses the benefits emerging in the broader market, which can identify and inspire new growth opportunities inside a company’s own category.
Our advanced approach to identifying innovation spaces delivers three key benefits. It helps our clients to future-proof their growth strategies by identifying which new ideas have the highest potential for success. It pinpoints the tipping points for change that are likely to address evolving needs within a category. And it jumpstarts a company’s innovation journey by leveraging new ideas already gaining traction with target consumers
Global Head of Market Opportunities & Innovation at GfK
GfK FutureWave is an integral part of GfK Innovation Roadmap, a strategic innovation process that guides an organization’s entire innovation journey from growth plans to launch, helping you in the “fuzzy front end” to “See the Future” and then “Be the Future” with a pipeline of new propositions that help build brands’ value.