First product innovation awards announced

The first Product of the Year (PoY) awards 2008 were announced on 17 January.

PoY is an independent survey on product innovation. It is a global consumer recognition standard that confers ecognition and rewards to the best innovations in retail products done through an independent consumer survey of consumers across the country. (See: POY award provides a high impact talking point for new launches, says POY India CEO)

The PoY 2008 were presented in 26 brand categories. The event was presented by POY's media partner Star. Xerox and Easies were the associate sponsors.

The award-winning brands included HUL's Taj Mahal Tea Vacuum Pack, Vaseline Nightly Renewal Light lotion, Dove Gentle Facial Foam and Body Wash, Fair & Lovely, Pond's Age Miracle, Axe Dark Temptation, Pril, Bref Powder Cleaner, Goodnight, Nerolac, Itz Cash Card, Kotak, Whirlpool, Videocon, LG, BILT Matriz, Camlin, Samsung and Nokia, among others.

Charulata Ravi Kumar, CEO, POY India, said, ''This is the debut year of POY in India and the response has been overwhelming, with participation from leading brands across categories.''

The survey was conducted across 36 centres in India. To ensure accuracy of results, all interviews were face-to-face, unlike in the other countries, where they are conducted online.

POY provides a platform for consumers to identify the best innovations in the market, and to manufacturers and showcase them effectively.

Speaking on the efficiency of the awards, Kumar stated, ''POY tests the conviction of a marketer against the reality that a consumer choice assigns. Therefore, we don't define innovation to the participant.

Companies nominate the product or (products) they feel are their best innovations on the last 18 months. The jury-filtered products are voted for by its best judges, who are the consumers.''

The concept has been running in 28 countries for the last 20 years. In India, the management has extended its scope to cover mobiles, electronics, durables, appliances and credit cards.

However, POY India is further extending its scope next year to more new categories.