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Article: There's no sure thing. (new product introduction management for the dairy industry)
- Article from:
- Dairy Foods
- Article date:
- October 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 BNP Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Product developers may find the odds in Vegas more charitable than bringing to market a new dairy product -- even if it addresses a consumer need, has a dynamic marketing plan, is innovative and looks cost-effective to produce and distribute.
"New product development is a mix of art and science. You're making a big bet on behalf of your company," says Bob Wallach, v.p.-marketing for Dannon Co., Tarrytown, N.Y.
Yet this is a challenge companies grapple with regularly to remain at the top of their game. Companies of all sizes bet their futures, based on a hand dealt them by experience, trial and error and market research, as well as hunches.
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