New Product Development ProjectFirhill High School
Presentation structure• Company background• Personal background• The project brief• Key areas• Business & marketing plans• Questions
Company background
• Established 2005• From ‘fresh porridge’ to ‘oat
products’• 15 UK music festivals• 700 retailers selling products• 9 UK distributors• 10k bars/wk• 10 employees (7 FT / 3PT)
Personal background• Food / hospitality• Range of industrial experience
– Large and small businesses– Including Edinburgh International
Conference Centre, SAS Radisson, Cameron House Hotel, St Brides Spa Hotel
• Strathclyde University – Hospitality with Marketing
Current product range
• Stoats existing product range– Porridge oat bars (40g and 85g, eight
flavours)– Porridge pots (3 flavours, into foodservice)– Stoats Uber Bars (2 flavours)– Oatcakes (2 flavours, wheat-free)– Oat crunch (no oil or sugar)– Porridge oat blends (always Scottish organic
oats)– Oat cookies (4 flavours)
Porridge Oat Bars
Oat Crunch
Product brief
• Develop a new food product for Stoats to manufacture and sell into retail outlets
• Ingredients should be all-natural • The product must be great tasting• The product should have an RRP of
between £0.79 and £3.99• Teams should present potential benefits
of consuming this product• One of the key ingredients must be oats
Key areas to consider
• Food technology: Most importantly the product must taste great, also ensure that it fits budget
• Design technology: Packaging– Easily identifiable - unit and case– Robust and stackable– Consider Eco options
• Science: the product will be supported with on-pack nutritional information and consideration of shelf life
Key areas to consider
• Finance: the product must deliver margin to Stoats (minimum 25%), distributor (20%) and retailer (25%).
• Financials should include full product costings.
• Business – the product development project will be supported by business and marketing plans.
• Competitor analysis: The presentation will include an analysis of similar competitive products and their pricing
Business plan
• Branding / company name• PEST analysis• Competitor analysis• Marketing & Promotional
activity• Financials – including forecasts
and costings
Resources
• Bplans.com• Eatstoats.co.uk• Focus groups / market research• Hospitalityandcateringnews.co.u
k• Store visits• Competitors products• Focus groups / market research
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