Product Development

Product development involves offering new or improved products for a present market. In the food industry, competition is strong and dynamic, making it essential for companies to keep developing new product. New product planning is not optional, it must be done just to survive in today's changing markets. A new product is one that is new in any way for the company concerned. According to the Federal Trade Commission (FTC), a product can only be called new for six months and only if it is entirely new or changed in a functionally significant or substantial respect. The cost of new product introductions can be high. Experts estimate that consumer-product companies spend at least $20 million to introduce a new brand and 70-80% of these new brands are flops (7).

Berry Boosters

Berry Boosters

Acai, Maqui And Many Other Popular Berries That Will Change Your Life And Health. Berries have been demonstrated to be some of the healthiest foods on the planet. Each month or so it seems fresh research is being brought out and new berries are being exposed and analyzed for their health giving attributes.

Get My Free Ebook


Post a comment