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Marketing: Idea and New Product Development Essay Sample

Marketing: Idea and New Product Development Pages
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1. What techniques will you propose to CB to generate ideas that can be developed into viable concepts? There are three types of idea generation that could help into developing a viable concept: * The evolutionary idea derives from somewhere else, taking something that already exists and improves on it. (1) * Symbiotic: method of idea creation when multiple ideas are combined, using different elements of each to make a whole. (1) * Computer-assisted discovery: uses a computer in order to widen possibilities of research and numeric possibilities. (1) 2. Of the many methods for ideation offered in contemporary literature, which represents the best for CB in this situation, and why? The first and most important will be the evolutionary idea because Chocoberry should market chocolate products with basic health claims for the United States’ retail consumer market. They already make the base and distribute it so it is a great idea to get into that market. After using the evolutionary method I would recommend using the computer-assisted discovery as a method of crowdsourcing that can give ideas that the customer need/wants.

These products are being developed by the technical departments as bar goods, such as one ounce or larger molded slabs of chocolate in dark, milk, inclusion-containing (nuts, fruit, etc.) products. 3. Who might be selected to perform the ideation, and why? Why might you not select certain groups to perform the ideation? To perform the ideation all group should be together to brainstorm and concept screening. In the Chocoberry Company, the new product development team and the manufacturing team must be together. They can brainstorm and get a concept, then present the ideas to the CEO. In this case, both teams know that the target group is adults who wish to indulge in chocolate, but who have been concerned with the health aspects.

This group will be fit to its new product feature, lower calories, high antioxidants, and other similar benefits for adults. So, people dedicated to sports will be the best group to get ideas and concepts. Also nutritionist can give good ideas. In other words, just to know what the consumer wants. I would not select groups that are not interested in chocolate as a healthy product and just consume it for fun. But at the same time they can give ideas to make the chocolate tastier. 4. Having screened the ideas to a select few, how are concepts generated from the ideas, and when? Concepts are generated after brainstorming ideas. I can say that it is a focus group where the new product development team, the manufacturing team and the CEO get to a decision taking the idea to the next level. Idea Evaluation:

1. Enumerate the criteria that might be applied to appropriately assess the ideas and to eventually rank them according to their potential for CB. 2. Who would conduct the evaluation and why?  The criteria that might be applied to assess the ideas are the quantity of votes that an idea has in the computer assisted voting area. In that way the Chocoberry Company is involving the customer with the process of ideation making it a crowdsourcing. After some of the ideas are chosen, involving also the Companys “new product development” team and the “manufacturing” team is very important to double-check. 3. Focusing on the select few concepts, what are the evaluative criteria that might be used to isolate the one or two that should be recommended for further development? 4. Who would conduct the concept evaluation and with what tools? An analysis of Strengths, Weaknesses, Opportunities and Threats (SWOT) is an old marketing stand-by and as such is a useful follow up to an evaluation matrix.

“In the unlikely event you are unfamiliar with SWOT analysis, it is a simple form in which reviewers indicate the potential strengths, weaknesses, opportunities and threats of an idea. Because the SWOT analysis looks at an idea from different perspectives, it provides a more rounded review of an idea than some methods”. (2) Chocoberry SWOT analysis approach will include a scoring system in which the reviewer give 0 to 5 points each for strengths and opportunities and take away 0 to 5 points each for weaknesses and threats. After the process of scoring, the ideas will be ranked according the number of points that each has. The internal Chocoberry Company team will make the concept evaluation. Meaning that the CEO, the VP of new product development and the VP of manufacturing have to get together and examine all the concepts/ideas made and specially review the SWOT analysis and re-evaluate it with the criteria already checked.

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