New product ideas should be technically and financially feasible. The feasibility study is necessary to check the viability of a new product. Outcomes from the above two steps Idea generation & screening, market research will help to get this specific information.įood Product Development Process Flow Chart | 4.Feasibility study (Financial & technical) It tells about the precise description of the product that manufacturer wants also helps the manufacturers for getting exact information regarding what consumer wants. It covers the parameters like raw materials, different processing methods, quality control, quality assurance, packaging and storage conditions etc. Product specification can be a complicated and lengthy process. The product can be discontinuing because of many reasons like high development cost, financial problems, inappropriate market, and too many competitors for the same product. So, the manufacturer or company can take a decision about the continuation or discontinuation of the product. Market Research gives the conclusion whether the product will survive in the market or not. Market Research covers following factors: It involves four basic components: the collection of internal company data, market data for competitor’s products, collected primary & secondary data and strategies for promotions. It takes following characters into consideration while doing surveys age, gender, economic status, geographic location etc.Īfter a market survey, marketing information system is used for data collection. Market surveys may use focus groups, test panels. It involves the primary & secondary market research for collecting the data.
Market research gives the idea about consumer preference and acceptance of the product. So, they all need to be taken into consideration. Constraints could be related to finance, marketing, processing, regulations, packaging, and distributions. There may be many constraints for executing these ideas so screening is necessary. All the ideas should be listed despite its usefulness at a particular time. After brainstorming session, staff from any department like sales, marketing, production, the administration can record their ideas. New product ideas can come from the market survey. Food Product Development Process | 7 Stages Of New Product Development Process 1.Idea generation & screeningĪn idea that can change anyone’s life, can come from anywhere. There are many steps for developing a new product in any field and introducing it into the market. Demand from a customer (Change of lifestyle, healthy living).
Food Product Development Process | Reasons For New Food Product Development: