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New Product Development Project Firhill High School

New Product Development Project Firhill High School. Presentation structure. Company background Personal background The project brief Key areas Business & marketing plans Questions. Company background. Established 2005 From ‘fresh porridge’ to ‘oat products’ 15 UK music festivals

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New Product Development Project Firhill High School

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  1. New Product Development Project Firhill High School

  2. Presentation structure • Company background • Personal background • The project brief • Key areas • Business & marketing plans • Questions

  3. Company background • Established 2005 • From ‘fresh porridge’ to ‘oat products’ • 15 UK music festivals • 700 retailers selling products • 9 UK distributors • 10k bars/wk • 10 employees (7 FT / 3PT)

  4. Personal background • Food / hospitality • Range of industrial experience • Large and small businesses • Including Edinburgh International Conference Centre, SAS Radisson, Cameron House Hotel, St Brides Spa Hotel • Strathclyde University – Hospitality with Marketing

  5. Current product range • Stoats existing product range • Porridge oat bars (40g and 85g, eight flavours) • Porridge pots (3 flavours, into foodservice) • Stoats Uber Bars (2 flavours) • Oatcakes (2 flavours, wheat-free) • Oat crunch (no oil or sugar) • Porridge oat blends (always Scottish organic oats) • Oat cookies (4 flavours)

  6. Porridge Oat Bars

  7. Oat Crunch

  8. Product brief • Develop a new food product for Stoats to manufacture and sell into retail outlets • Ingredients should be all-natural • The product must be great tasting • The product should have an RRP of between £0.79 and £3.99 • Teams should present potential benefits of consuming this product • One of the key ingredients must be oats

  9. Key areas to consider • Food technology: Most importantly the product must taste great, also ensure that it fits budget • Design technology: Packaging • Easily identifiable - unit and case • Robust and stackable • Consider Eco options • Science: the product will be supported with on-pack nutritional information and consideration of shelf life

  10. Key areas to consider • Finance: the product must deliver margin to Stoats (minimum 25%), distributor (20%) and retailer (25%). • Financials should include full product costings. • Business – the product development project will be supported by business and marketing plans. • Competitor analysis: The presentation will include an analysis of similar competitive products and their pricing

  11. Business plan • Branding / company name • PEST analysis • Competitor analysis • Marketing & Promotional activity • Financials – including forecasts and costings

  12. Resources • Bplans.com • Eatstoats.co.uk • Focus groups / market research • Hospitalityandcateringnews.co.uk • Store visits • Competitors products • Focus groups / market research

  13. Questions ? eatstoats.co.uk or tony@eatstoats.co.uk

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