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The seven habits of successful product development. A reminder of what you probably already know. Jeffrey Hyman :: Chairman :: The Food & Drink Innovation.

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Presentation on theme: "The seven habits of successful product development. A reminder of what you probably already know. Jeffrey Hyman :: Chairman :: The Food & Drink Innovation."— Presentation transcript:

1 The seven habits of successful product development. A reminder of what you probably already know. Jeffrey Hyman :: Chairman :: The Food & Drink Innovation Network.

2 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Jeffrey Hyman. Foodie & Marketeer. A lifetime in NPD. Launched 1000 food products. Worked on countless brands. Developed and launched Prêt A Manger. Chairman :: The Food & Drink Innovation Network.

3 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. The Food & Drink Innovation Network. Started by the industry itself 5 years ago. DTI recognised trade group. Non commercial Best practice club. Food & drink specific members :: mid to larger food & drink companies, brand owners & retailers. Technical & marketing. UK innovation news, seminars, NPD Directors Forum.

4 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. The Seven Habits Of Successful Product Development. Good People. Good Objectives. Good Insight. Good Process. Good listings and logistics. Good Promotion Continual Improvement.

5 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good People. Software doesnt create new products, it supports People. Skills, Aptitude & Motivation. Team composition: explorers in the early stage, developers later on Good climate for innovation :: challenge & involvement, freedom, trust & openness, idea time, playfulness and humour, lack of personal conflict, idea support, healthy debates, risk taking. (Source Ekvall & PWC). Stability, people in Product Development for the long-haul, keep the Product Development wheel turning.

6 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good objectives – the corporate plan. Vision, mission, and values. Who are we, what do we want to do, and who do we want to do it for? Core competencies and competitive advantage. Corporate Plan :: also the lost plan, the revised plan and the abandoned Plan. Product Development plan doesnt fall out of the annual brand planning cycle. Too important to be left to brand managers. Product Development Director with board responsibility.

7 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good objectives – the NPD plan. Product Development :: NPD, OPD and CPD. Strategic buckets to give every business unit a shout. Product Development Portfolio. Brand development, new brand development, sub brand development, range extensions. The NPD funnel. Ansoff :: penetration, product development, market development, diversification. Boston consulting Grid :: share v market growth.

8 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Existing ProductsNew Products Existing Markets Market Penetration Product development New Markets Market development Diversification Ansoff Matrix

9 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. High market share.Low market share. High market growth. Stars.Question marks. Low market growth. Cash Cows.Dogs. Boston Consulting Grid.

10 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good objectives – the financial imperative Rate of innovation: Start ups 100%, mature businesses 10%. Rate of innovation :: aka save your job at axe time.

11 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Rate Of Innovation £500m company.

12 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good Insight. Create & keep customers aka trial and repeat purchase. Meet consumers needs aka consumer insight. Quant to discover opportunities. Qual to gain the insights. Past, present and potential consumers. Great products when supply side competencies meet consumer side needs. Beware :: Healthy, tasty and handy are givens, products now need to be green. Look for the paradox, what consumers want more of and what they want less of.

13 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good process. Notion idea concept proposition prototype trials production launch monitor & review. Develop your own companys matrix.

14 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good process :: Product Development Matrix Corporate.Product.Technical.Packaging.Sourcing.Manufacture.Logistics.Category Management. Pre-Project. Concept development. Prototype development. Production trials. Launch. Monitor & Review.

15 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good process :: pre-project stage. Vital to have funding for projects before the projects actually begin.

16 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good process :: concept phase. Work with present consumers. Work with advocate / heartland consumers. Get to know your fieldworker contact groups. Consumers will tell your supply side all they need to know :: marketeers to be on tap not on top. Uncover shortcomings on existing offerings :: unmet needs, unarticulated needs. Hint :: choose wisely the level of abstraction :: ladder up and ladder down.

17 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good process :: concept phase. Levels of innovation :: vary the variable, challenge the fixed, add in inspiration and surprise. Creativity is merely blending inputs to produce outputs. If you want more outputs, then have more inputs :: Product developers should travel the world once the insight has been agreed. Create your own technology road maps and use Trizz.

18 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good process :: prototype phase. Faster to prototype. Enrich with the total proposition, what, where, when, how, why, who. Rough volume, price, cost, gross profit and net margins. Is the project strong in relation to the other projects in the portfolio. Beware the drift. Green sourcing?

19 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good process :: the rest. Scale up. Dont lose the original idea. Watch the costs. Check and re-check with the consumers. Production. Dont lose the original idea. Watch the costs. Check and re-check with the consumers. Launch. Dont lose the original idea. Watch the costs. Check and re-check with the consumers. Monitor & review. Dont lose the original idea. Watch the costs. Check and re-check with the consumers.

20 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good listings and logistics. Category insight :: listening to buyers. Efficient product introduction :: sales team, presentations, launch package. Get the practicals right :: from factory to check out.

21 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Good trial and repeat purchase. Good consumer insight from the start. Strong concept & proposition. –Genuine need. –Genuine promise and reason to believe. –Genuine delivered benefit. Good advertising and promotion. Efficient replenishment.

22 The Food & Drink Innovation Network Sharing innovation best practice in the food & drink industry. Continual improvement : kaizen Changing world. Changing consumer needs. Technical trends of evolution coming down the track. Staying ahead of the competition. Enrich the technology road map. Work with past, present and future consumers. No need for fast track. Less is more. From NPD to CPD.

23 Jeffrey Hyman :: Chairman The Food & Drink Innovation Network. Sharing innovation best practice in the food & drink industry. Thank You


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