System1 Group Regulatory News (SYS1)

5 Jun 2007 07:03

BrainJuicer Group PLC05 June 2007 Press Release 5 June 2007 BrainJuicer Group plc ("BrainJuicer" or "the Company") Progress on Predictive Markets BrainJuicer Group PLC, (AIM: BJU), one of the world's leading online marketresearch agencies, is pleased to give the following update on PredictiveMarkets, an innovative concept screening product launched last year. Since its launch, interest in Predictive Markets has grown significantly and isnow being used by a number of large multi-nationals, including Pepsi, Hasbro,Wrigley and Unilever. This proprietary technique grounded in the economicconcept of 'the wisdom of crowds', invites a 'crowd' of 500 participants tohypothesise whether they would buy or sell shares in a series of concepts, basedon whether they believe it would succeed or fail in the market. The tests haveprovided consistently accurate at sorting 'wheat from chaff' when compared totraditional methods of concept testing, which are more time consuming and costlyto the client. In an interesting proof of concept test last year, the crowd accuratelypredicted that Leonna would win X-Factor from the very first week and longbefore she had become favourite with the bookmakers. In fact the company put a£10 bet each week on who the crowd reckoned would win overall and won £230 onbets of £120. Repeating the experiment with American Idol, the crowd agreedwith the bookies for the first 6 weeks but parted company in week 7 accuratelypredicting that the favourite, Melinda Doolittle, would go out in thesemi-finals and that Jordin Sparks would eventually win. John Kearon, Chief Juicer of BrainJuicer, commented: "Since winning an industryaward for best new methodology, our Predictive Markets technique has gone fromstrength to strength with the large multi-nationals. As one of the seniorresearchers at SlimFast said recently, 'We had a great experience withBrainJuicer's Predictive Markets. We were quickly able to understand which of awide range of ideas were most interesting, why they were interesting &importantly, how to make the ideas even better'. The calibre of clients gettingenthusiastic about this tool is a testament to its strength." - Ends - For further information, please contact:BrainJuicer plcJohn Kearon, Chief Executive Officer Tel: +44 (0)20 7043 1000 www.brainjuicer.com Teather & Greenwood LandsbankiJames Maxwell / Fred Walsh / Simon Brown Tel: +44 (0)20 7426 9000 www.teathers.com Media enquiries:Abchurch CommunicationsHeather Salmond / Joanne Shears Tel: +44 (0) 20 7398 7709joanne.shears@abchurch-group.com www.abchurch-group.com Notes to Editors: BrainJuicer carries out quantitative online research using innovative, bespokesoftware to produce insightful market research for large, multinationalcompanies, including 10 of the world's top 50 companies (FT 500 September 2006). BrainJuicer operates in a growing sector of the US$25bn global research market,namely quantitative online research. BrainJuicer's main competitors are largetraditional market research providers who have dominated the market for off-linemarket research, such as AC Nielsen, Millward Brown, Research International andTaylor Nelson Sofres. Whilst the largest traditional research companies have developed their ownonline capability, BrainJuicer has a number of key attributes which havecontributed to it achieving rapid growth and winning contracts with prestigiousclients, including: • Research platform that delivers greater diagnostic insight. BrainJuicer hasdeveloped tools and award-winning techniques that enable it to provide a greaterlevel of diagnostic insight into quantitative market research. These techniquesenable clients to enhance their understanding of consumer preference and helpthem make decisions on the best way to develop their products and services. • Speed. BrainJuicer's automated research techniques enable it to conductcomplicated studies very quickly. BrainJuicer's rapid deployment and resultsproduction, even on multi-country studies, provide clients with a speed tomarket advantage in the development of new products and services. • A scaleable online-only business model. Unlike the traditional researchcompanies who maintain both on and offline data collection capabilities,BrainJuicer is able to focus on operating a scaleable online-only businessmodel. To date the Group has conducted projects in over 50 countries and more than 30languages and has established offices in the UK, the Netherlands and the US. The Group's revenues come from full service market research work, and from itsonline Juicy Brains Panel in the UK. - Ends - This information is provided by RNS The company news service from the London Stock Exchange