Product Development
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What factors influence what we buy and eat? (5)
• Sensory • Nutrition • Cultural/religious • Psychological/social • Budget (quality for dollar)
What are 4 ways of developing products?
• Novel • Improvement • Line extension • Clone product from another company
What percentage of new brands fail?
72%
What percentage of line extensions fail?
55%
Who is involved in the product development team? (5)
• Product development scientists • Marketing personnel • Cost Accounting Personnel • Production Personnel • Q.A Personnel
What are the product development stage?
• Concept/idea stage • Development stage • Commercial stage • Product development interaction with marketing
What is thought about in the concept/idea stage?
Demands of competitors, consumer need, and desirability
What is done and considered in the product development stage?
Prototype is developed and sensory qualities, shelf-life, safety, packaging, equipments needs, and cost are considered
Describe commercial stage.
Product is piloted and feedback is obtained from a limited market to gage acceptance
How is shelf-life tested?
Product is tested under various environmental conditions to determine what conditions are acceptable for the product. Microbiology or sensory based. Used to determine best before date.
What approaches are taken to test shelf-life?
• Lit study/ competitor claim • Turnover time • End point study (evaluate and processor hold backs) • Accelerated shelf-life testing and mathematical modelling of changes
What is the pack date?
Date of production
What is the best before date?
Last date of maximum quality and is required if it its 90days or less.
What is the expiration date?
Date that nutrition on package can no longer be guarenteed.
How long is the best before date of canned foods?
3 years after production
How long is the best before date of white flour
6-12 months
How long is the best before date of homogenized milk
3 weeks
How long is the best before date of ground beef?
2 days
What is Market share? (sector 1)
When there is an exiting market and product. Making more of a product.
When are new products made? (sector 2)
When there is an existing market and room for a new product. Companies constantly introduce new products.
What is market development? (sector 3)
When an existing product is marketed to a new demographic or area.
What is diversification (sector 4)
When there is a new product and market. This is very risky.
What things do people think about when marketing a new product?
Who they are targeting and how they position the product to adhere to the sensory, rational, and emotional benefits of the consumers.
What must innovative products keep in mind?
What feature of the product, package, and process will appeal to consumers.