New food products development

Product development is fundamental to the success of the organization. To be profitable and to survive food companies seek new products. These, if successful, give new life to a company, replacing products no longer selling well.

The new food product development process flows from strategic business planning and starts with opportunity analysis, followed by idea generation.

New product development or finding new uses for old products are essential for continue growth of a company. Moreover, product development is the means by which a company builds the competencies and capabilities that set the stage for its future.

A new product is one that has not been presented before in any market anywhere. This is a rare occurrence.

The time spent developing new products ranges from 6 months to 5 years, depending on the degree of new technology and innovation. Line extension devolvement that utilizes equipment that is already in place at manufacturing facility usually takes less time to develop than a new product that needs a custom processing line.

New product success is measured by the level of consumer or customer acceptance and also by the position of the new product against the competing products.

The total product success is determined by how quickly it is bought, how often it is bought and how much is bought. New products must fit not only the needs of consumers but also their lifestyle and income.
New food products development