Fast track food innovation
By Emma Hanby - 28 February 2017
'Food development', 'new product development', 'product innovation' – whatever you call it, developing new successful products is essential for food and drink companies to grow and thrive. In many companies more than half of revenue comes from products that were not in the product line five years earlier, so it’s important that ‘NPD’ is done right.
The food industry is highly competitive, so innovation and speed to market are crucial. Companies that can respond to changing consumer demands and get the right products to market more quickly are more likely to outperform their competitors.
While there is more than one path that leads from idea generation to new product launch, most of the basic steps on the innovation journey are the same. Our clients might manage and deliver product development in a slightly different way, but most follow a gated process to minimise failure and expense. What they have in common is a desire to launch their next product quickly, efficiently and cost effectively.
We use an approach to fast track product development and reduce risk, and so increase the chances of a successful launch. It has a ‘stop’ to support each step of the innovation journey – from idea generation, concept testing, and demystifying the regulations, to developing samples for consumer research, validating shelf life, scale up and consumer testing.
Our approach is flexible and puts you in complete control of progress and the budget. We can guide you along the entire innovation journey or you can choose for us to join you at any point.
To find out more about how we can help get your products to market more quickly and increase your chance of a successful product launch, please get in touch.