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5) Food Product Development > Concept of Food Product Development > Flashcards

Concept of Food Product Development Flashcards

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1
Q

what are 3 definitions/factors of a new food product?

A

product has not been presented in the local marketplace

product has not been manufactured by a company

product has not been introduced in any market place

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2
Q

a new product may be…. (3)

A
  1. an already existing product that has been repacked and given a new name + image
  2. an improved version of an old product with new packaging/brand
  3. a completely new product that serves an unmet need of the consumer
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3
Q

what are types of new food products?

A
  • line extension prdt
  • repositioned existing prdt
  • new form or size of existing prdt
  • reformulated existing prdt
  • innovative prdt
  • added value prdt
  • creative prdt
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4
Q

what is a prdt line extension?

A

consists of using an established product’s brand name for a new item under the same prdt cat

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5
Q

repositioning a food prdt is….

A

a marketing strategy that may give a new life to an existing food prdt

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6
Q

what are 3 methods of repositioning a food prdt?

A

repositioning. …
1. among existing consumers
2. among new users
3. for new uses

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7
Q

what are general characteristics of repositioned existing prdts?

A
  • R&D time is minimal
  • manufacturing is unaffected
  • no major equipment purchases
  • marketing must develop new strategies to capitalized on new market niche
  • prdts require re-evaluation to reach and make sales within the new marketplaces
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8
Q

describe characteristics of a food prdt in a new size or form

A
  • requires R&D time
  • high impact on physical plant and manufacturing capabilities
  • major equipment purchase may be required
  • marketing must develop new strategies to capitalize on new/existing market niche
  • sales resources need reprogramming
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9
Q

what is an example of new form or size of existing products?

A

instant coffees
dehydrated spice blends
fast cooking products (eg. rice and oats)

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10
Q

what are reasons that reformulation may be required?

A
  • improvements (better color, less fat, greater stability)
  • overcome scarcity in availability of a raw material
  • lower costs and compete with competitor prdts
  • explore improved characteristics and properties of new ingredients
  • regulatory agencies alter legal position of an ingredient
  • create new market niche of an existing prdt
  • satisfy consumer demands
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11
Q

what are examples of reformulated of products?

A
  • low cal products
  • “greener” products (organic)
  • hooter, spicier, crunchier, soother products
  • lactose free
  • functional foods
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12
Q

what are characteristics of reformulated prdts?

A
  • moderate to extensive R&D
  • high probability of success
  • little impact on physical facilitie
  • little impact on marketing and sales (unless reformulation leads to repositioning of food prdt)
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13
Q

what are characteristics of new packaging of existing products?

A
  • extent of repackaging determins amount of R&D needed
  • slight impact on physical facilities (unless reformulation is required)
  • new packagin equipment
  • little impact on marketing, sales, distribution
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14
Q

what are innovative food prdts?

A

ones resulting from making changes in existing products

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15
Q

what are characteristics of innovative products?

A
  • v high risk associated with the development
  • R&D depends on nature of innovation
  • highly variable impact on manufacturing capabilities
  • possibly heavy impact on marketing and sales resources
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16
Q

a creative food product is…

A

one newly brought into existence

“never before seen products”

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17
Q

what are characteristics of creative food products?

A
  • high need for R&D
  • costly venture
  • new plant and equipment needed depending on degree of creativity
  • high risk of failure
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18
Q

define added value

A

difference between a product’s selling price and the direct and indirect input used in making that particular product

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19
Q

what are ways to add value to food products?

A
  • improving stability
  • improving functionality
  • using better natural colorants
  • promoting better texture
  • more convenience
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20
Q

each added value introduces the need for more ____?

A

advanced technologies

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21
Q

define a customer and consumer

A

customer: the one who purchases and buys in marketplace
consumer: ultimate user of the product

22
Q

what are examples of customers?

A
  • family members
  • purchasing department of companies and stores
  • chefs in a restaurant
23
Q

define a market and marketplace

A

market: concept that describes a need discovered in customers and consumers

(market = consumers)

marketplace: real physical entities ranging from farmer’s roadside stands to the big food stores

24
Q

define the X axis in FPD complexity matrix

A

X: technical complexity
Y: marketplace complexity
Z: consumer complexity

25
Q

the measure of marketplace complexity may include what variables?

A
  • warehousing, distribution, retailing activities
  • competition
  • new legislation and regulations or marketing customs
  • economy of the country
26
Q

what are 5 reasons to go into FPD?

A
  • product life cycles
  • corporate health: new food prdts allow a growth and help to satisfy management’s long term business goals
  • market and marketplace: are continuously changing
  • tech pressures: new tech make it easier to develop new prdts
  • governmental influences: changes in government’s legislation and health programs could require development of new prdts
27
Q

define the product life cycle

A

a measurement used to assess the success of failure of a new prdt

28
Q

what determines the timing when a new food prdt should be introduced in the market?

A

prdt life cycle

29
Q

what are the 5 phases of the food prdt life cycle?

A
  1. intro period
  2. strong growth period (public awareness increases)
  3. decline in growth
  4. period of stability (no-growth)
  5. beginning decline in volume
30
Q

what should a company do to maintain a healthy net profit?

A

having new products at various stages of development

31
Q

what determines the timing of when a new prdt should be introduced?

A

depends on the evolution of the market and the existing prdts

32
Q

a company’s strategic business plan describes what?

A

specific financial and growth objectives

33
Q

what are the 4 different growth strategies?

A
  1. market penetration
  2. market development or extension
  3. diversification
  4. developing new food prdts
34
Q

what are the 2 types of business strategies?

A

offensive and defensive

35
Q

without a market, there will be no ___

A

sales; the product is worthless

36
Q

what are factors that cause the change in the consumer patterns and needs?

A
  • population movement and ethnic diversity
  • demographic shift
  • aging population
  • changing family composition and consumer lifestyles
  • consumer priorities (convenience, health, prices)
37
Q

what are 4 factors involved in the success of a new food prdt?

A
  1. marketplace success
  2. financial success
  3. production success
  4. consumer/customer success
38
Q

define financial successes

A

refers to the profits and return on investments

eg. how the product changes are affecting profitability and the financial performance

39
Q

define marketplace success

A

refers to the achievement of target sales volumes and revenues

40
Q

how is production success assessed?

what factors does it involve?

A

assessed by quality, quantity and costs

involves

  • stability and safety of prdts
  • production costs
  • production yield
  • distribution losses and returns from retailers
41
Q

define production yield

A

ratio of product output to raw material input

42
Q

how is the consumer or customer success measured?

A

by the level of acceptance and by the position of the new product against competing products

43
Q

how is product success measured?

A
  • how quickly it is purchased
  • how often it is purchased
  • how much is purchased
44
Q

how is product and customer success measured

A
  • how much it has achieved uniqueness to the consumer
  • how much it has satisfied the consumer needs
  • how much value it is to the consumer
45
Q

what are examples of reasons for prdt failure

A
  • lack of strategic focus
  • limited understanding of the market
  • lack of financial resources
  • focus on short-term profitability
  • poor prdt quality
  • limited creativity
46
Q

what are 4 main reasons for failures of new food prdts?

A
  1. poor planning
  2. poor management
  3. poor concept
  4. poor execution/performance
47
Q

what are examples of poor planing resulting in failures of new prdts?

A
  • prdt does not fit company’s strategy, competencies, distribution
  • failure to analyze the market properly
  • failure to understand potential impacts of regulations
48
Q

what are examples of poor management resulting in failures of new prdts?

A
  • poor decision making about which projects are funded or not
49
Q

what are examples of poor concept, resulting in failures of new prdts?

A
  • repeated products from ones that are already available
  • prdt with no real defined market target
  • prdt with little significant consumer benefit
  • prdt introduced at the wrong time and place
  • prdt that lacks appropriate positioning among other brands
50
Q

what are examples of poor execution/performance, resulting in failures of new prdts?

A
  • poor design
  • prdts don’t work as expected
  • scaling up from kitchen to pilot plant having difficulties
  • failure to execute sales plan and achieve targeted levels of distribution
  • failure to communicate clearly to reach target consumer
51
Q

what are 5 organizational structures of a product dev team?

A
  1. centralized
  2. de-centralized
  3. dotted line
  4. matrix
  5. venture teams
52
Q

describe a

A) centralized structure of a FPD team

B) de-centralized structure of a FPD team

A

A)

  • there is a FPD committee, where each member has a different role in the company
  • each time they get together, there are different members
  • no project focus

B)

  • the same department would work on a specific project
  • same team members each time

5) Food Product Development (12 decks)

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