The New Product Development Process

1. The rate in which consumers will try a product based on what they see, hear and understand from reviewing the product in the store (or on the menu), its pricing, advertising message and basic positioning as conveyed by the package, name, graphics and store shelf placement.
    
2. The rate of repeat purchases that the consumer will make based on their initial experience with the product and whether it lives up to its promise.
    
3. The ability of the marketer and producer of the product to garner distribution, adequately support the product and make a profit.

No matter the size or sophistication of the marketer, these priorities must be met to be successful.

In transferring these priorities into a workable new product development process that assures the end product can generate trial, repeat purchases and profitability, a new product success equation for food is used to ensure the actual food development issues that drive this success are implemented.

Below is the success equation for creating new products and then more detail on each portion and documentation required.