Forethought Research, in conjunction with leading marketing academics Professor John Roberts and Professor Peter Danaher, have been named as finalists in an internationally prestigious marketing science award. The INFORMS Society for Marketing Science (ISMS) and Marketing Science Institute’s (MSI) Practice Prize recognises outstanding implementation of marketing science concepts and methods.

Central to the submission was the Jetstar approach to finding a battleground on which to compete profitably, and then delivering consumer campaigns underpinned by Forethought Research proprietary, world leading research technology known as Prophecy®. David May, Jetstar Head of Marketing and PR, described the research as having made “a radical, positive change to our business”.

“Jetstar has succeeded where many low cost carriers have stumbled, by maintaining a laser focus on understanding the ‘price versus service’ equation” said Ken Roberts, Managing Partner, Forethought Research. “Forethought has been able to reveal the drivers of customer value for Jetstar, within a quality framework of price and performance.”

The submission, which tracked five waves of research and two major strategic responses, found that the research methodology employed for Jetstar can be used across industries and purposes including market share defence, category development and brand rejuvenation.

The ISMS and MSI received submissions from around the globe, with the judges acknowledging that it was the best group of entries ever received. Forethought is one of four finalists with the winner to be announced on 15 January 2010 at the Marketing Science Practice conference to be held at the Sloan School of Management, Massachusetts Institute of Technology.

View the official media release.