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 Best Foodservice New Products 2004 Scorecard™ Report Just Released
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| New: New Product Success Potential Modeling
Now, for the first time, Cognitio's Success Predictor™ modeling predicts the probability of in-market success at the concept screening stage. This predictive modeling capability is based upon the success/failure of new products already taken to market that were tested by Cognitio.
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 2004 FoodservicElite™ Ranking Study by Cognitio and Cannondale Now Available
The specific goal of this second annual study is to identify the Elite manufacturers and operators as evaluated by their trading partners and to provide insight into what make them "the best".
"The report is excellent," says one major foodservice manufacturer.
Report includes rankings such as:
- Top 10
- Clearest company strategy
- Best combination of growth and profitability
- Best products or brands
- Best business partners and work well with operators
- Operators that have the strongest brand names
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| Successful New Products…What Does It Take?
The most important new product success disciplines we have observed manufacturers putting into practice are:
- Only launch new products that truly possess a wanted point-of-difference – don't settle for simply what can be most easily produced.
- Launch only after the new product has been proven to work in actual foodservice operations. This protects the brand, limits risk and helps capture the full potential of a new product.
Cognitio ConTEST™ concept screening and In-Ops Trial™ product testing can help achieve these goals.
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| Challenges Operators Want New Products to Address
Based on a survey with over 700 foodservice operators, new products most needed are those that address the following:
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| Testing Provides Sales "Ammo"
In concept or product testing, a series of specific claims or benefit descriptions can be exposed to foodservice operators to identify which have the greatest impact on purchase interest.
In addition, respondents can compare a test product to the product normally used to generate a selling claim (for example: "80% of operators find the test product more convenient than the product normally used").
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| Optimize the Positioning of a New Product
Cognitio can identify the unique feature or main selling point that will generate the greatest operator purchase interest and most clearly set your product apart from the competition.
The answer is provided in a quadrant analysis revealing a.) the strength of the new product concept, b.) the actual delivery of desired benefits by the product versus what is important to operators and c.) the strongest positioning relative to the competition.
In the example below, the test product out performs the product normally used on a very important attribute: convenience. "Convenience" is the point of difference for this product.
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