The confectionery market is highly competitive, with many companies vying for market share through the development of new and innovative products. New product development in the confectionery industry is not an easy task, as it requires a deep understanding of consumer preferences, market trends, and manufacturing processes.
To ensure that the new product development project would be a success, Ascend Food Consulting conducted extensive market research. We surveyed consumers to gain information about their preferences and opinions on various confectionery products. The survey results showed a trend towards healthier, natural, and functional products. Consumers preferred confectionery products that had a clear health benefit, such as those with added vitamins or antioxidants. This information was used to make decision on product development.
Based on the market research, our new product development team decided to develop a new line of confectionery products featuring functional ingredients. The team brainstormed several product concepts before selecting one that could meet the consumers’ preferences. The chosen product concept was a line of croissants enriched with vitamins and minerals. They were marketed as a healthy indulgence, appealing to consumers who wanted to treat themselves while also getting some health benefits. The new product development team worked with the food scientists to test different combinations of vitamins and minerals that would enhance the product’s health benefits without affecting its taste.
After selecting the optimal combination of vitamins and minerals, we conducted product testing to ensure that the products were of high quality and met the company’s standards. The company then launched the new product line in various markets, targeting health-conscious consumers. The products were well received by consumers, and the new product development project was a success. The croissants not only tasted great, but they also provided a health benefit, making them a popular choice with consumers. The new product line boosted sales and helped the company capture a larger share of the confectionery market.
New product development in the confectionery industry is a challenging but necessary task for companies looking to maintain their market position. The company in this case study successfully created a new line of confectionery products that met consumers’ preferences for natural and functional products. By conducting extensive market research, developing a unique product concept, and testing the product before launch, the company was able to create a product that was both appealing to consumers and met the company’s quality standards. This case study highlights the importance of market research and product testing in the new product development process and how it can lead to success in the highly competitive confectionery market.
