NEW PRODUCT DEVELOPMENT OUR APPROACH



IDENTIFYING MARKET OPPORTUNITIES WITH YOU AND YOUR BUSINESS


In a demanding retail environment, we work closely with our clients and partners in developing innovative products in order to attract new markets and consumers. Through our extensive ten-step process, we’ll help you grow your category and attract new consumers.

 

OUR TEN STEP NEW PRODUCT DEVELOPMENT PROCESS

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.

2.

Consumer Analysis – we then define the demographic profile of what we identify as the target audience.

3.

Customer Feedback – through more extensive feedback, we gain a more complete picture of our target audience’s preferences.

4.

Concept Development – we build up the entire product concept and formalise it using our concept development profile template.

5.

Prototype Developments – at this point, we produce a prototype to gauge practical reaction.

6.

Taste Testing – now we get to ‘road-test’ our new tastes with our consumer panel.

7.

Focus Groups and feedback - using this tried and tested qualitative method, we gain comprehensive opinion on our newly developed product.

8.

Product specification finalised – the technical aspects and make-up of the final products is devised and defined.

9.

Production – the product makes the production lines and will soon be on your shelves.

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.