Marketing magazine clinches Product of the Year awards in Malaysia, Singapore and Indonesia

For 12 months, manufacturers and distributors of the winning products are allowed to use the Product of the Year title and distinct red logo on their packaging, promotions and advertising. Products are voted on entirely by a nationally representative sample of consumers. The survey is designed to assess consumer opinions on innovation, appeal, satisfaction and purchase intent of the competing products, with innovation being the strongest factor. All finalists who do not win, receive their category research report regardless of outcome.

Hosted in over 32 countries, Product of the Year (POY) is the world's largest consumer-voted program and the only award that recognizes innovation in consumer packaged goods. It is a coveted stamp on the best new household products that meet the rigours of the market's leading consumer survey.

"Innovation is the lifeblood for FMCG companies. As shoppers spend more time comparing product features and prices, the path to success and their shopping cart is a combination of differentiation and delivering on consumer value. Product of the Year offers an assurance that any merchandise carrying the POY seal is one of true innovation," says Phil Lempert, The Supermarket Guru and Consumer Expert.










"At a time when our market is overloaded with awards shows and every brand hungering for any kind of fame, we decided to stand back and ask ourselves what really mattered. And our vision became clear - the marketing industry needs to overcome a talent shortage and we need to guide consumers to the best products in the market while acknowledging manufacturers for quality and innovation. Anyone who supports this strategy is welcome to join our cause," says Harmandar Singh, Regional Publisher of Marketing magazine.

"There are hundreds of new products in the market and Innovation is the essence of a market economy. We wish to recognize these efforts wholeheartedly in a singular show and not as an insignificant category in a show that means everything to everybody." he adds. "This award is open to new ideas in FMCG, mobile, financial, industrial, electronics and more, wherever you have an improved product or service. Products must demonstrate an innovation in function, design or packaging. This could be a completely new type of product or a useful innovation to an older product or brand, such a new ingredient, redesigned shape or size, new formula (eg. less sugar) or new packaging (user-friendly or 'green'). It does not have to be revolutionary as long as it makes consumers' lives better."

POY was created to champion innovative consumer products and give shoppers a shortcut to the most innovative new products in the market.
 
For manufacturers of the winning products, the award is a powerful marketing message proven to increase product trial, awareness, distribution and sales. It is not only a prestigious award but a proven ROI tool: over the past 25 years winners have enjoyed an average sales increase of 10-15% in the US.

The Malaysian Product of the Year 2014 awards night is slated for 23 January, 2014.