What are 6 essential food and beverage manufacturers must know about new product development?

 

New food and beverage development is an exciting process. However, there may be some queries that may be arising in this course, like ‘How should I market the product?’, ‘How is the product going to fare in the market?

Every individual who is bringing a new product into the market should know the following things:

1) Begin small before scaling up

To avoid taking on more than you can handle, it's important to start small. However, you should set up your business in such a way that it can grow with your sales. Instead of starting from scratch, you should be able to build on the systems and processes that are already in place.

Identify co-packer at this stage. Co-packer/contract manufacturers will decrease the capital required in the production and this will enable you to focus on the resources for business expansion. Selecting an appropriate distributor whose vision aligns with yours is also needed at this stage.

2) Create a strong team

Firstly, one must select a capable representative for the field team. A strong team will assist in the representing the product, and the firm to the public. An individual who matches your enthusiasm and motivation is desirable as a representative. Creation of positive culture within the team is essential. Since the members work individually, it should be ensured that there is communication between the team members. Their work could be assessed by mobile CRM or remote team tracking software.

3) Have a retail implementation strategy

One needs to develop a strategy for marketing a food or a beverage product, let it may fail despite having the best implementation team. This plan may need alterations, based on consumer choices. One must decide how the product should appear and where the product be placed in a store, to gain customers’ attention, for according to POPAI (Point of Purchase Advertising International), about 70% customers decide on their purchase when they are in the shop.

4) Outline catchy packaging

Pay attention as to how to design the outer package of an item that is pleasing, for the appearance of a product’s packaging creates an impression on the customer. At the same time, the practical aspects of the packaging should not be compromised.

5) Promote the product

The product should be promoted in a way that is different from the competitor brands. Promotion, or advertising is a critical part that helps in letting an audience know that your product exists in the market.

6) Evolve

The food and beverage industry is continuously changing to meet the consumers’ changing interest. Customer feedback helps you to identify whether your product was satisfactory, or whether any amendments are required.

Food Research Lab has vast experience in developing beverages and packaging, ensuring that the product is tasty, nutritious, and attractive to the consumers. We conduct cost analysis and assist in the product's cost-effectiveness and certification from the respective regulatory authority, which is crucial for the product's success.