Product of the Year (POY), an independent survey on product innovation, announced the country’s first Product of the Year Awards on January 17, 2009, at an event held in Mumbai. Product of the Year Awards 2008 were presented to 26 brands categories. The event was presented by media partner Star, while 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.
Product of the Year is a global consumer recognition standard that celebrates and rewards the best innovations in retail products done through an independent consumer survey of consumers across the country.
Speaking on the occasion, 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 centers on India. To ensure accuracy of results, all interviews were face-to-face, unlike in the other countries, where it is done via the Internet. 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.