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Essay / The Importance of Launching a New Food Product - 529
Launching a new food product is more difficult than marketing an existing product. Usually, companies focus on their capabilities and processes (product orientation) in new product development, but much academic research asserts that market orientation is an extremely critical factor for the success of a new product. Some publications were studied and many success factors were discovered, but some of them were related to drinks were chosen. In the food industry, functional foods have the potential to add value to their business. Being healthy is one of the most important selection criteria when consumers purchase food products. Many researchers believe that packaging is one of the important factors in launch planning. There is also evidence that successful companies evaluate new products or services in a formal market test and use customer feedback to further refine an innovative product or service. According to some marketers, this is because consumers are better informed and more aware of their rights and product requirements. Crawford and Di Benedetto (2011) describe that...