Product Launch and Evaluation
The launch needs clearly set targets or objectives, skilled technical and marketing people, good coordination and time control, fast and correct financial analysis and good problem-solving skills. It needs to have continuously updated knowledge of consumer needs, attitudes and behaviour; the retailer needs, attitudes and behaviour; and competitors' skills and knowledge as well as their reactions to new products.
It is an expensive stage in the product development process and needs good financial control of the costs and the revenues.
There is continuous evaluation, not to cause alarm and quick withdrawal of the product but to improve performance and to lead towards the absorption of the new product into the company's product mix and the general company organisation.
The research includes consumer, market, product, production, quality assurance and distribution research, sales data collection and analysis, as well as research into the environmental reactions to the product, including the physical, social, cultural and legal environments.
The financial analysis is essential because it can form a very strong basis for the decision to either continue or stop the launch.
The type and amount of research depends on the resources available, the budget for research, the risk-taking attitude in the company and company policy. Some companies do little research apart from sales data, but this means working by intuition or guesswork and having no knowledge of why these sales trends are occurring.
7.13 Suggested readings
Earle, M., Earle, R., and Anderson, A. (2016) Food product development - the Web Edition
Hisrich, R.D. and Peters M.P. (1991) 'Managing the product in the early stages: introduction and growth', Marketing Decisions for New and Mature Products, 2nd edn, New York: Maxwell Macmillan International Editions, pp. 413-31.
Karagozoglu, N. and Brown, W.B. (1993) 'Time-based management of the new product development process', Journal of Product Innovation Management, 10, 204-15.
McLaughlin, E.W and Fredericks, P.J. (1994) 'New product procurement behaviour of US supermarkets', Agribusiness, 10(6), 483-90.
Shanklin, W.L. (1987) 'Six timeless marketing blunders', Journal of Business and Industrial Marketing, 2 (2), 17-25.
Usunier, J.C. (1993) International Marketing: A Cultural Approach, Englewood Cliffs, NJ.: Prentice-Hall, pp. 340-84.
Some more recent readings
Anderson, A.M. (2008) ‘A framework for NPD management: doing the right things, doing them right, and measuring the results’ Trends in Food Science and Technology, 19(11), pp 553-561
Declerck, F. and Ottowitz, T. (1997) ‘Brioche Pasquier S.A.: industrializing traditional French Baking’ in Product and Process Innovation in the Food Industry. Traill, B. and Grunert, K.G. (eds.) London: Blackie Academic and Professional, pp 75 -90
Earle, M., Earle, R. and Anderson, A. (2001) Food Product Development pp 123-131, 348-70, Cambridge: Woodhead Publishing Ltd.
Fuller, G.W. (2005) ‘Going to Market: Success or Failure’ New Food Product Development, 2nd. Ed., Boca Raton, Florida: CRC Press. pp 228-239
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