GOOD TO GROW COMPANY

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Table of Contents

GOOD TO GROW COMPANY

Executive Summary. 5

Overview of the Business Opportunity. 6

Describe the company ‘Good 2 Grow’ 6

Current Product Market Portfolio. 6

Identifiable drivers for new product innovation. 7

Product Innovation Charter 7

Rationale for developing a new product 7

Specific area of market and technological focus. 8

Goals and objectives. 8

Project requirements. 9

Ideation techniques employed. 9

Brain storming sessions. 9

Secondary research. 11

Concept statement 11

Concept testing methodology. 12

Product protocol 13

Specification of target market 13

Product positioning. 14

Product attributes (and benefits) 14

Strategic fit with product portfolio. 15

Competitive comparison. 15

Augmentation dimensions. 16

Market entry timing, major marketing, production, or regulatory considerations. 16

Initial proposals for product name. 16

Sales and financial analysis. 17

ATAR Model 17

Final recommendations. 19

References. 21

Appendices. 23

Appendix 1. 23

List of figures

Figure 1 Existing Product of the Company. 6

Figure 2 Spider web for brain storming. 10

Figure 3 Product prototype. 12

Figure 4 ATAR Model 17

Figure 5 Pie Chart of Adoption Percentage.

List of tables

Table 1 Product features. 1

Executive Summary

The purpose of this report is to fulfil the corporate strategy of Good 2 Grow Company that is to increase the visibility of the old issued product with innovative packaging that can well attract its targeted consumers. Within the context of Good 2 Grow Company whose core competency include the provision of healthy products for kids, the optimal packaging is proposed that can help attract the attention of customers with which seller’s ability to convince could improve (Simmonds and Spence, 2016).

Different potential models would be utilised to forecast the acceptability of product in the market. In addition to this, from the identification of opportunity until the Post-Launch Review of the Product, the potential of revenue generation would also forecast. It is evident that the drink market in the UK has shown significant improvement, with a number of competitors delighting their customers with the provision of fresh quality juices. It is, therefore, the need to come up with the innovative product could help increase the survival in the industry (Mintel, 2015).

The innovative packaging of juices with the capping of Big Ben, Telephone Booth and Gherkin Building could not only help in the attraction of kids but would also educate them regarding their focus. Appropriate advertising strategy would be required to create a need for the product in the market, specifically its target market, and the multiple solutions that could derive from the use of the product.

Since the core products of Good 2 Grow Company is for the parents and children, intense care would be required to satisfy Parents i.e. Customers regarding the integrity of the quality and nutrition extracted from that juice. This requires labelling the different attributes and contents of Juice on its packaging. Both the digital and physical distribution channels would be utilised for the effective sales revenues from the new product. Business is interested in introducing the high-quality product in high volume that could better increase its competitiveness in the industry……………continued