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Outline. Current StatisticsMarket TrendsSteps behind Product DevelopmentAfter ThoughtsClasses Available at ISU. Current Statistics. Typically? ?60-80% of New Products Fail"Casey Frye from Burke Corporation, Nevada, IA.About 70-80% failure of new products (line-extensions)Higher, 80-90% for T
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1. The Art of Product Development Or is it Luck?
2. Outline Current Statistics
Market Trends
Steps behind Product Development
After Thoughts
Classes Available at ISU
3. Current Statistics Typically
60-80% of New Products Fail
Casey Frye from Burke Corporation, Nevada, IA.
About 70-80% failure of new products (line-extensions)
Higher, 80-90% for Truly new
4. Market Trends (General) Healthier Foods
Convenience (Microwaveable Meals)
Ethnic Favors
Meal Drinks
Organic Foods
Whole Grains
Low Fat (Trans Fats) & Low Carb. (?)
5. Market Trends: Meats Poultry ( chicken and turkey)
Value Added products
Ingredients and flavorings
Complete Meal Dishes
Meat Snacks (jerkys, condiments, etc.)
6. Steps behind a New Product Idea Generation
Marketing/Competition Analysis
Formulation (2 steps)
Product Testing Methods
Process Development & Scale-Up
Commercialization
7. Idea Generation Decisions:
Go into the market (multiple ideas)
Get creative
Market choice (ex. Snack food, entrée)
Target market ( who & where?)
New or Improve
Need for product?
8. Marketing Do research: Sources
US Department of Commerce
Trade Associations, Publications, & Shows
Trend Monitoring
USDA Foreign Ag Services
Marketing Options
Multiple markets
How many products on Market?
9. Competition Analysis Need an idea:
Who is your Competition?
Marketplace
Stores & Location (Everywhere in the US?)
Prices
Target Market
Gimmicks (why are they special?)
Packaging & Nutritional Claim
10. Formulation: Step 1 Start with a recipe
Do multiple version with modifications
In house consumer testing
Need a Gold Standard
11. Formulation: Step 2 Ingredient substitution
Cost efficiency matters
Example: Onion powder instead of onions
Instrumental test
When is it Gold Standard?
12. Possible Testing Consumer
In house testing, special panels, etc.
Instrumental testing (Gold standard)
Shelf life testing (Labeling and recalls)
Nutritional testing (Strict laws)
Test Markets
13. Process Development Needs:
Process control solidify
Equipment needs
Distribution needs
Personnel Needs
Ingredient Supply Needs
14. Scale-Up Move to plant situation
Batches are 10-15 times bigger
New rules, laws, protocols, management
Know process, mixer, mixture, Gold Standard
Major problem step
15. Scale-Up: Concerns Distribution (special handling) Safety Issues (Micro, allergens) Equipment (temp., times, speeds, etc.) Packaging (Fill of container) In process tests (moisture, rheology, appearance, taste, etc.)