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NEW PRODUCT DEVELOPMENT OUR APPROACH
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1. |
Market Research – using a combination of qualitative and quantitative techniques, we establish the initial gaps in the market and define the demographic profile of what we identify as the target audience. |
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2. |
Consumer Analysis – we then define the demographic profile of what we identify as the target audience. |
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3. |
Customer Feedback – through more extensive feedback, we gain a more complete picture of our target audience’s preferences. |
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4. |
Concept Development – we build up the entire product concept and formalise it using our concept development profile template. |
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5. |
Prototype Developments – at this point, we produce a prototype to gauge practical reaction. |
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6. |
Taste Testing – now we get to ‘road-test’ our new tastes with our consumer panel. |
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7. |
Focus Groups and feedback - using this tried and tested qualitative method, we gain comprehensive opinion on our newly developed product. |
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8. |
Product specification finalised – the technical aspects and make-up of the final products is devised and defined. |
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9. |
Production – the product makes the production lines and will soon be on your shelves. |
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10. |
Product performance analysis – working in tandem with your category analysts, we analyse the performance of the new product in your stores and outlets. |
Talk to us about how we can help you with your New Product Development process.
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