New Product Development Project Firhill High School

New Product Development ProjectFirhill 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.u

k• Store visits• Competitors products• Focus groups / market research

Questions ?

eatstoats.co.ukor

tony@eatstoats.co.uk