Strategies For the Development of New Food Products Flashcards
(101 cards)
what are the 4 major steps in FPD?
- product strategy development
- product design and process development
- product commercialization
- product launch and post-launch
what is the outcome after product strategy development?
product concepts
what is the outcome after product design and process development?
prototypes and scaling up
what is the outcome after product commercialization?
production trial and marketing plan
what are the steps in product strategy development?
- strategic plan
- market opportunity assessment
- generation of ideas
- screening ideas
- product concept development
- evaluating product concepts
what are sources of new food prdt ideas?
A) marketplaces B) market research C) ideas from within the company D) competition E) food conferences F) public G) technical literature H) government publications
what does the GAP technique involve?
- undetected needs
- unfulfilled market opportunities
what is market research based on? (3)
- census data and other statistical data (eg. demographic info, education levels, income, etc…)
- qualitative methods (focus groups, one-to-one interview, store intercepts)
- quantitative methods (conjoint analysis and neuromarketing)
what is conjoint analysis?
- type of quantitative methods for market research
- determines which combination of a limited number of attributes is most influential on the decision making of consumer
what is neuromarketing?
- type of quantitative methods for market research
- uses functional magnetic resonance imaging to study the activity regions within the brain
- used sets of images that causes a positive emotional response and stimulating in purchasing
who developed neuromarketing?
harvard professor Gerald Zaltmen
what was neuromarketing first known as?
Zaltman Metaphor Elicitation Technique (ZMET)
who are sources for generating ideas of new food prdts within the company?
- retail, industrial sales personnel and technical sales representatives
- complaints
- in-house research and development
what questions can be asked about marketability when screening ideas?
- does the idea meet the needs/expectations of customers?
- does the idea satisfy the goals of the company
- is the idea easily marketable within the company’s umbrella of products and brans?
what questions can be asked about technical feasibility when screening ideas?
- does the company have the technical skills in house to develop a quality product?
- can a quality product be developed with reasonable cost and time constraints?
- should outside resources be used?
what questions can be asked about manufacturing and financial capability when screening ideas?
- does the plant have the capability to make the product at a cost and quality desired?
- availability of raw materials, food regulations and industry constraints?
what are the 2 types of product concepts?
what do they focus on?
- core idea concepts: focuses directly on the product’s benefits
- positioning concepts: focused towards motivation. Communicates main and secondary benefits
what are the 2 methods of developing a product concept?
- traditional top-down method: the idea is fully formed; pieces of the idea can’t be separated from each other
- bottom-up method: concept is developed by mixing together the components into new combinations. Involves conjoint analysis
what is conjoint analysis?
used to develope concepts from the bottom up
rating = k0 + k1(element #1) + k2 (element #2)…. + kn (element #n)
what are the 2 market research methods?
- qualitative methods: focus group and one-to-one interview
quantitative methods: concept rated on scales
what are scales used in quantitative market research methods?
5 point purchase intent
9 point liking scale
what is Bases Snapshot?
- concept testing design
- bases involves communicating one or more concepts to potential survey consumers and uses a standardized questionnaires and marketing inputs
what are limitations of concepts?
- concepts limit the wider potential product range: the concept relies on language and description of product, which may sound unappealing. Solution: produce prototypes
- concepts describe an impossible to produce prototype
what are 4 sources of input for prototype testing?
- internal informal: members of the company are panelists; results may not reflect target consumers
- internal formal: in-house group is trained on conducting an evaluation. Has cost and time benefits, but still has risk of missing the target consumers
- external experts: experts are expensive and time consuming
- external consumers: conduct preference and ratings tests. Expensive and time consuming but gives more efficient data