SOURCES OF IDEA FOR NEW PRODUCT DEVELOPMENT Presenter Ms.M.DEVAYANI Assistant professor Department of food science and technology Arul Anandar College, karumathur, Madurai INTRODUCTION New Ideas can produce the exposure to new products. We
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Presentation Transcript
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SOURCES OF IDEA FOR NEW PRODUCT DEVELOPMENT Presenter
Ms.M.DEVAYANI
Assistant professor
Department of food science and technology
Arul Anandar College, karumathur, Madurai<br>
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INTRODUCTION New Ideas can produce the exposure to new products. We can know about different products available in market. Idea generation of the product will be successful when it satisfies economic, political and consumers demands.<br>
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GENERAL GUIDELINES OF IDEAS Ideas must satisfy the needs and desires of a company’s target consumers
and can attract the customers.
Company can accept the ideas from the target consumers. The seed of idea
from the target group itself.
Ideas must satisfy the financial and expansion goals of the company within
the skill level, technical capacities, managerial and financial resource of the
company, these are the core competencies of the company.
Idea should be implementable.<br>
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SOURCES OF IDEA Internal source of Idea
Idea that is generated from the company itself and belonging organizations.
Ideas from within the company
Ideas from consumer and customers
In house product and process, Research and development
Collective memory. External sources of Idea
Idea that is obtained from non-company sources.
Competitors
Food conferences, Exhibitions, trade shows and Research symposia
Public libraries
Specialized libraries
Trade literature
Government publication<br>
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IDEAS FROM WITHIN THE COMPANY Main source of the idea for new products of company are
Retail and wholesale personnel
Technical sale representatives
They directly interfere with consumer and customers. They act as eyes and ears of the company, who can closely watch what is new in the market and movement of product in market. They can easily understand the advancement in the market and consumer behaviour.
For example: Complan and Horlicks both are kids targeted product at the beginning by supplementing protein. When complan turned out to give flavour difference, Horlicks started with various product for different age groups.<br>
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IDEAS FROM CUSTOMERS AND CONSUMERS Different ways of consumer expression:
Vent anger about failed product
Express pleasure about a Favourite product
Enquire about product’s suitability for some diet
Points to be considered while attending the consumer complaints:
1. All complaints should be acknowledged
2. Companies should classify the complaints based on nature of problem.
3. Complaints should be reviewed on daily or weekly or Fortnight basis.<br>
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INHOUSE PRODUCT AND PROCESS – RESEARCH AND DEVELOPMENT: Companies may conduct experimental trials in their resource facilities or on their processing lines to test the use of new equipment, new ingredients and new supplies of raw materials.
It requires determination, cataloging and reforming.<br>
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COLLECTIVE MEMORY: Computerized information management can be further developed to create collective memory of what happened when the problems were encountered and how to solve the problems.
Ideas and experience of employee is a valuable assert of ideas.
They will have valuable clues to problem solving and suggestion of new product ideas. These people are also called as collective memory.<br>
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COMPETITORS Wise company knows that what its competitors are doing, to say simply that, the competitors also compete for customer’s attention, for the taste and preference of consumer.
Competitive intelligence gathering
A comparison of ingredients
An evaluation of package and label appearance
Comparison of quality characteristics like taste, flavour, colour, texture etc. of the competitor’s products<br>
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FOOD CONFERENCES, EXHIBITIONS, TRADE SHOWS AND RESEARCH SYMPOSIA Public events showcase their new developments and advanced technologies.
demonstrated of new ingredients and food equipment around the world.
Conferences, here the technical and research paper are presented. This can develop the novel research and development activity. This can spread up new product ideas and can reveal the research activities of competitors.<br>
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PUBLIC LIBRARIES Public libraries - collection of cook books filled with recipes.
Recipes based on local, national and international cuisines can provide ideas for new food products.
It can be benchtop for testing new products.<br>
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SPECIALIZED LIBRARIES<br>
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TRADE LITERATURE Ingredients and equipment supplier provide trade literature, newsletter and publication and their applications.
They provide many new product ideas and information about new ingredients for new product development.<br>
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GOVERNMENT PUBLICATIONS It is the wealth of new product ideas from various governmental
departments.
Best source of demographic data, population, meal pattern etc.,
Description of development of food research laboratories regionally and
agricultural research stations are published regularly.<br>
