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William G Walker Vice President WGW Marketing

NEW PRODUCT DEVELOPMENT 3119. William G Walker Vice President WGW Marketing. Product Development Outline. Product Principals Sales – Wholesale & V/A Retail Vendors, Clients & Customers Profit Centers & Cost Centers Distribution Channels

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William G Walker Vice President WGW Marketing

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  1. NEW PRODUCT DEVELOPMENT 3119 William G Walker Vice President WGW Marketing

  2. Product Development Outline • Product Principals • Sales – Wholesale & V/A Retail • Vendors, Clients & Customers • Profit Centers & Cost Centers • Distribution Channels • Short Term Sales / Long Term Marketing • Tracking Process • Office Necessities • Support & Research • Product Design Outline • Cost Build Up • Program Recap

  3. Product Principals (vendors, clients and customers Product – (Fresh & Further Processed ) • Growers, Processors & V/A Further Processors • National & Regional Brand Comp Shop • Distribution Channels • Brokers • Product Development & Marketing Companies • Margin & Mark-Up Levels/Impact • Access Leverage Customers

  4. Sales Wholesale & Value-Added Retail Wholesale • Ingredient (Processors) • Re-Distribution Product (Retail, Foodservice) • Direct Distribution (Processors, Foodservice) • End-User Fresh & V/A Bulk Sales (Retail, Foodservice) Retail • Branded • Private Label

  5. Vendors, Clients & Customers Vendors • Further Processor (adds value) • Multiple Vendors (flexibility) • Multiple Capabilities (processing, packaging) Clients • Product Development Companies • Marketing Companies & Brokers Customers • Processors • Foodservice • Retail Brands

  6. Profit Centers & Cost Centers • Branded Item Sales • Retail Brand and SKUs (A/R) • Private Label Sales • Resell Capabilities & Items (A/R) • Branded & PL Commissions • Direct Sell Processor Capabilities (no A/R)

  7. Distribution Channels • Food Processors • Direct, Marketing Companies, Brokers • Mass Retail • Direct, In-House Brokers, Brokers • Foodservice • National Accounts, Leverage Operators, • F/S Distributors, Brokers • Retail • Fancy Food, Catalog, Grocery, C-Store, Brokers

  8. Short Term Sales Long Term Marketing Short Term Sales= Leverage Operators Each Market Channel Long Term Marketing+ Processors= Eliminate Distributors Spec Products through R&D and Product Development Companies Leverage Operators / Customers Make Careful Choices for Long Relations Professional Follow-up Food Service= Leverage Operators Eliminate Distributor in Decision Making Retail= Eliminate Distributors Spec Products & Packaging with Buyers Value-Added Product Development Branded & Private Label

  9. Tracking Process • GOAL: • ACTION: • RESULT:NEXT STEP: • Daily/Weekly Communication with vendors, clients and customers • Revise Tracking Process weekly • Prepare for the worst, expect the best! • Deliver bad news first! • Start early and work late! • Be passionate about your products and your work! • Be prepared to fail! • Don’t quit until you succeed! • Chance prefers the prepared mind!

  10. Office Necessities • High Speed Internet • Phone, Fax & Copier • Computer & Printer • Web Site • Cell Phone • Digital Camera • Snap shot view of simple necessities

  11. Support & Research National Industry Associations State Growers and Industry Associations Web Search Fancy Food Directory State Economic Development Centers Private Label, Fancy Food & Foodservice Trade Shows Business Referrals

  12. Product Design Outline Identify Product Item – select Identify Flavor – test & select Package – select Brand – select Prototype / Mock-up - create

  13. Cost Build Up EVALUATE Component Cost & Minimums Standard & Variable Cost Forecast Breakeven Quantity Sell From Prototype Sell To Meet Production Minimums Adjust To Client Needs

  14. Program Recap Select Product Research Production Sources & Competition Research Industry Associations Interview Principals Assess Viability in Market Place Select Processors & Identify Leverage Operators Create Bench Sample & Mock-up Packaging Make Sales Appointments Sell from Prototype Adjust to Clients Needs Purchase Order Production

  15. Contact Information William G Walker Vice President WGW Marketing, Inc www.WGWmarketing.com

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