Product of the Year is not simply an award, it’s a powerful marketing tool. Past winners have seen sales increases of 10-15% as well as increased product trial, distribution and consumer awareness. All Finaliasts, win or lose, receive the research report from TNS. In addition to being able to use the Product of the Year seal, winners are included in a nationwide PR campaign.
Product Entry: Free
Finalist Fee: $6,000
Winner Fee: $17,500
What is the Finalist Fee? Before being reviewed by 7,000 consumers, entered products are put in front of a Jury panel of industry experts and members of the media who make sure the submissions meet innovation criteria. Products that pass this step are put into the consumer research and must pay the Finalist Fee.
**Win or lose, all Finalists receive the results of this study with information on their category and the most recent grocery shopping trends.
What is the Winner Fee? All Finalist products are put into the Australia’s largest research study on product innovation with 7,000 consumers. Consumers vote on products in each category based on innovation appeal, use, satisfaction and purchase intent. Products with the highest score in each category are named Product of the Year winners.
***The winner fee pays for logo use on all communications for one year and for inclusion in the POY PR campaign.
When Will I know My Status? Finalists will be notified after their products have been put through to the consumer research stage of the competition. Winners will be confidentially notified at the end of November and can prepare marketing efforts to start at midnight of the Awards Night in February.
When Do I Get the Award? Winners and Finalists will be invited to the Awards Night to find out the winners and celebrate innovation. The 2012 Awards Night took place on February 2, 2012 in Sydney.
