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The Art of Product Development

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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The Art of Product Development

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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 (jerky’s, 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.)

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