Step 1. Have an idea:
- What types of new products qualify for PD assistance?
PD supports development of a new product that would meet today's consumer trends. According to research*, consumers claim that nutrition and taste are more important than convenience yet their behaviour indicates otherwise. People are seeking more convenient meal solutions from outside the home and are spending less time preparing their meals at home.
Products that would enhance customer satisfaction, improve ease of preparation, increase beef consumption or improve utilization of the carcass while offering the potential for profitability are all elements that we consider for support.
The scope of new products includes BOTH beef and veal in:
- What benefits does PD offer?
If you are successful, then so are we. We start with the end user in mind - the consumer. PD covers all costs for initial fact-finding. If there is consumer
interest, Then we go ahead. If not, we don't. It's the closest you can come to risk-free product development.
You also get:
- Technical expertise. You have access to our entire PD team. They offer extensive expertise in retail, food service, production, processing, marketing and market research.
Confidentiality. Your product is held in the strictest confidence. We take this VERY seriously.
- Flexibility. Our assistance is tailored to YOUR specific needs. We can provide the whole package - ideas, technical process, marketing, packaging and branding or simply one element of these. You choose and we tailor the program to fit.
- Responsiveness. We can take you from initial inquiry to application approval within a month.
- Credibility. We've worked with several companies and many of them have come back to us for help with other new products.
“Nestlé is constantly looking for new product ideas. We would definitely contact BIC again for assistance. ” - Tim Coughlin, Nestlé Canada
- Confidentiality. Our funding agreement includes a confidentiality clause. We take this very seriously, which is another reason why we work hard at building a trusting relationship with our partners.
Step 2. Contact info:
Michael Young, Director of Operations Canada/US
Phone: (403) 275-5890
E-mail: [email protected]
Beef Information Centre
215-6715 8th NE
Calgary, Alberta
T2E 7H7, Canada
Fax: (403) 275-9288
Step 3. Information Meeting:
Following up on your inquiry, a PD designate will meet with you to learn about your company, help you identify what is needed to make your product a success, learn about your experience in new product development and discuss the project being considered. From here, you can work with the designate to create your formal application and skip to Step 5 or use this meeting to form the basis for a workshop customized to your needs (Step 4).
Step 4. Workshop:
As a first step in funding your project, we would like to work with your management team. We can hold this session any time, any where. We prefer to invite you out of your office and we work with you to fit into your busy schedule.
Clients have told us that the benefits for them include:
Product Idea Generation
If you would like to brain-storm some new product ideas for your company we can provide trained facilitators as part of this session. We can also work on your existing new product ideas to add value or new concept.
Learning About Trends
We can give you quick snap-shot pictures of the latest in retail, foodservice, consumer and beef industry trends.
Learning About Your Company and our Program
We like to forge partnerships that can last for years. Our interest is not limited to just one project. A great first-step is getting to know one another. A tour of your facilities may also be helpful.
On our part, you'll get to know the people who can help you. You will have access to our entire Product Development Team. They offer extensive expertise in retail, food service, production, processing, marketing and marketing research.
Learning About New Products
Our consultants have been teaching executives about how to market new products in industry seminars, MBA courses, etc. Their skills are available to you as part of this information workshop. A mini-course can be custom-tailored to your company.
Writing the Funding Proposal
By the end of our session we will have drafted your proposal for funding together. This includes how much funding is needed for marketing research, packaging, product development, etc.
Team-Building
Benefits of working with the Product Development Team – red tape issue: there is none! We will write your proposal, pitch it to our advisory team and get an answer back to you in 10 days. The only other paper work is a funding agreement, which we draft and follow-up in terms of how the product is doing two times a year.
Step 5. Proposal Approval:
- Upon acceptance, we fund 100% of the initial fact-finding to determine if there is a market opportunity for your new product. If there is, we move forward and provide a new product team to help guide you through the development, approval and launch of your new product.
- What does BIC's product development program cover?
- 100% of initial fact-finding
- 50% of market research
- 50% of packaging development
- 50% of product and process development
- 50% of promotion cost, such as consumer sampling (but not advertising).
