Seasonal tea flavors.
Question: How can you inject new interest in an existing product line of teas without exposing your company to the high costs and risks associated with a new product introduction?
Nearly 90% of all new product introductions in grocery stores fail. And of those that are successful, many are off the shelves by their third year. To improve the odds, companies can turn to proactive market research as a method of collecting data on consumers' activities, attitudes and interests before they launch any new products. But this sort of research can cost considerable time and money. As a more economical alternative, it might be worthwhile to introduce seasonal flavors into your product line on a limited time basis. Doing so accomplishes a variety of benefits:
New products can interject new interest into an existing product line and a new opportunity to create a distinctly different promotional campaign. Offering these for a limited time requires only a limited buildup of inventory and therefore limits the costs and risks associated with full-scale introductions. This can be done with little, or no prior consumer research since having products available for purchase provides true data on the consumers' intent to buy. It's not simulated, nor extrapolated from theoretical data.
When selecting flavors for a seasonal introduction, be adventurous and creative. We often suggest targeting flavor profiles that are unique to the tea category, but recognizable to consumers. This may increase the consumers' willingness to try the new product and, at the same time decrease the need to educate potential consumers through detailed promotions. For inspiration review marketed products that are not sold in the same grocers' isle. For example, alcoholic beverages, bakery products and desserts are product categories which are often influenced by seasonal promotions and can provide excellent ideas for your next tea flavor blend.
Banana Nut Bream
Cinnamon Stick Bun
Gingerbread Lemon Bars
Ginger Almond Biscotti
Butter Pecan Ice Cream
Scott Nadison joined Flavor & Fragrance Specialties as the flavor business unit director. Scott has held diverse positions including flavor development, sales and sales management, finance and marketing at companies including Florasynth, Mane and Presco Food Seasonings. Scott will focus on the continued growth and diversification of our flavor division.
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|Title Annotation:||Flavor of the Month|
|Publication:||Tea & Coffee Trade Journal|
|Date:||Jul 1, 2009|
|Previous Article:||200 top coffee executives met at UK Coffee Leader Summit 2009.|