HOW IT WORKS: PRODUCT OF THE YEAR 2020
Product of the Year follows two easy steps:
Step 1: Enter Your Product
Companies nominate their best innovations launched since January 1st, 2018 online on the POY website.
Step 2: Consumers Vote
The shortlisted products that make it, are put through an independent, face-to-face & online, consumer survey conducted by Nielsen (Respondents are split into different panels and each category is assigned only one panel.) No products are required at this stage as the consumers vote on the product innovation descriptor and Nielsen tabulates the data on appeal and satisfaction for the nominated products.
Products with the highest votes in each category become Product of the Year winners in their category. There is only one winner in each category – the winner uses the Product of the Year 2020 logo for one year to promote the winning product – i.e., from April 1st, 2020 to March 31st, 2021.
Winners of the Product of the Year award in India, UK, France, Germany, USA and other countries have all benefited from featuring our logo in their TV commercials, press ads, and packaging. The POY 2018 logo may be used across all communication and on the packaging, PR, BTL and any other media.
- Entry Fee – Rs 1.25 lac plus GST per product (Rs. 1 lac plus GST if entered before 15th October.
- Winner Fee – If you are selected the winner in the consumer survey, there is a winner fee of Rs. 18 lacs + GST that allows promoting the win and using our logo in any type of media for two years. Should you choose to use the logo only for the first year, then the fee applicable will be Rs. 10 lacs + GST.
a) The Winner Fee is mandatory and is payable whether you use the seal or not. This fee is payable only if you have won in your category.
b) When you nominate your product, you commit to the entire process and cannot withdraw at any stage after the nomination.
- You increase sales and trial of your product.
- It is a ‘word of mouth’ if you will – an independent endorsement by shoppers which pushes consumers to try out the winning product versus the competition.
- Your trade has a more compelling reason to push the product in the market.
- Your product and more importantly, your brand overall gets very high awareness and a clear differentiator.
- Your overall brand gains credibility.
- You get a detailed trend analysis and usage study on your category done during our survey. This survey will be made available to you regardless of the outcome.
- Entry is open now for the Product of the Year 2020 Awards. Please nominate online by filling the Entry Form.
- The survey will be conducted through January-March 2020. Results will be announced in April 2020.
- Usage rights will start from the day after the Winners are announced at the Awards Night.
Entry process is simple. Fill the online entry form on the Enter page. A product description is required to be submitted along with other product and company details.
Entry fee needs to be paid within 7 working days after entering online.