07423833439
Developing a new product or service
Contents Summary 1 1. Introduction 2 2. Idea generation and screening 2 2.1 Idea generation 2 2.2 Idea screening 3 3. Product attributes and service 4 4. Target Market 5 5. Concept Testing 7 6. Business Analysis 8 7. Product Positioning 9 7.1 Branding 11 8. Product fit 12 9. Competitor analysis and comparison 12 9.1 The Failure of Nestle----LC1 Go! 13 10. Commercialization 14 10.1 Market Testing 14 10.2 Lunching Time 14 10.3 Promotion 15 10.4 Price and Predicted sales 16 11. Resource Requirements 16 12. Potential problem areas 17 13.Conclusion 18 Reference 19 Appendix 21
Tables and Figures Table 1 Features and Benefits of the New Yakult 4 Table 2 SWOT Analysis of Yakult 9 Table 3: Three brands in the UK retail value sales of drinking yogurts, 2008-2010 13 Figure 1: The Total Product Concept 5 Figure 2: Trends in purchase of food and drink with added benefits 6 Figure3: The Ansoff Matrix 8 Figure 4: Product Positioning of Yakult 10 Figure5: The designed Logo for New Product 11
Summary
This assignment concentrates on the development of new flavour Yakult in the UK market. As a probiotic drink, Yakult is well-recognised by consumers. However, when competing with competitors, such as Actimel and Vitality, the weakness of the company is that the product line is relatively weak. After carefully screening the new product ideas, fruit flavours Yakult can be the most profitable product to develop. The new product not only can improve digestive system, but can also improve the vitamins intake because the fruit element. In addition, the Yakult lady system, which is free delivery service, can be developed to improve brand reputation and communicate with consumer directly. The new Yakult should be positioned as a tasty health-enhancing drink, which can attract more potential consumers, and increase sales volumes. In addition, the target consumers are
Contents Summary 1 1. Introduction 2 2. Idea generation and screening 2 2.1 Idea generation 2 2.2 Idea screening 3 3. Product attributes and service 4 4. Target Market 5 5. Concept Testing 7 6. Business Analysis 8 7. Product Positioning 9 7.1 Branding 11 8. Product fit 12 9. Competitor analysis and comparison 12 9.1 The Failure of Nestle----LC1 Go! 13 10. Commercialization 14 10.1 Market Testing 14 10.2 Lunching Time 14 10.3 Promotion 15 10.4 Price and Predicted sales 16 11. Resource Requirements 16 12. Potential problem areas 17 13.Conclusion 18 Reference 19 Appendix 21
Tables and Figures Table 1 Features and Benefits of the New Yakult 4 Table 2 SWOT Analysis of Yakult 9 Table 3: Three brands in the UK retail value sales of drinking yogurts, 2008-2010 13 Figure 1: The Total Product Concept 5 Figure 2: Trends in purchase of food and drink with added benefits 6 Figure3: The Ansoff Matrix 8 Figure 4: Product Positioning of Yakult 10 Figure5: The designed Logo for New Product 11
Summary
This assignment concentrates on the development of new flavour Yakult in the UK market. As a probiotic drink, Yakult is well-recognised by consumers. However, when competing with competitors, such as Actimel and Vitality, the weakness of the company is that the product line is relatively weak. After carefully screening the new product ideas, fruit flavours Yakult can be the most profitable product to develop. The new product not only can improve digestive system, but can also improve the vitamins intake because the fruit element. In addition, the Yakult lady system, which is free delivery service, can be developed to improve brand reputation and communicate with consumer directly. The new Yakult should be positioned as a tasty health-enhancing drink, which can attract more potential consumers, and increase sales volumes. In addition, the target consumers are