New Product Development Project
Firhill High School
Presentation structure
•
•
•
•
•
•
Company background
Personal background
The project brief
Key areas
Business & marketing plans
Questions
Company background
• Established 2005
• From ‘fresh porridge’ to ‘oat
products’
• 15 UK music festivals
• 700 retailers selling products
• 9 UK distributors
• 10k bars/wk
• 10 employees (7 FT / 3PT)
Personal background
• Food / hospitality
• Range of industrial experience
– Large and small businesses
– Including Edinburgh International
Conference Centre, SAS Radisson,
Cameron House Hotel, St Brides Spa
Hotel
• Strathclyde University – Hospitality
with Marketing
Current product range
• Stoats existing product range
–
–
–
–
–
–
Porridge oat bars (40g and 85g, eight flavours)
Porridge pots (3 flavours, into foodservice)
Stoats Uber Bars (2 flavours)
Oatcakes (2 flavours, wheat-free)
Oat crunch (no oil or sugar)
Porridge oat blends (always Scottish organic
oats)
– Oat cookies (4 flavours)
Porridge Oat Bars
Oat Crunch
Product brief
• Develop a new food product for Stoats to
manufacture and sell into retail outlets
• Ingredients should be all-natural
• The product must be great tasting
• The product should have an RRP of between
£0.79 and £3.99
• Teams should present potential benefits of
consuming this product
• One of the key ingredients must be oats
Key areas to consider
• Food technology: Most importantly the product
must taste great, also ensure that it fits budget
• Design technology: Packaging
– Easily identifiable - unit and case
– Robust and stackable
– Consider Eco options
• Science: the product will be supported with on-
pack nutritional information and consideration of shelf
life
Key areas to consider
• Finance: the product must deliver margin to
Stoats (minimum 25%), distributor (20%) and
retailer (25%).
• Financials should include full product costings.
• Business – the product development project
will be supported by business and marketing
plans.
• Competitor analysis: The presentation will
include an analysis of similar competitive
products and their pricing
Business plan
•
•
•
•
•
Branding / company name
PEST analysis
Competitor analysis
Marketing & Promotional activity
Financials – including forecasts
and costings
Resources
•
•
•
•
•
•
•
Bplans.com
Eatstoats.co.uk
Focus groups / market research
Hospitalityandcateringnews.co.uk
Store visits
Competitors products
Focus groups / market research
Questions ?
eatstoats.co.uk
or
tony@eatstoats.co.uk