Arnott’s Biscuits Limited's New Product Development

Arnott’s Biscuits Limited New Product Development
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1.0 Executive Summary
Arnott’s Biscuit Limited is a biscuit company belonging to Campbell Soup Company located in Australia that began in 1865. The company has carried out its operations for about 150 years and it is partly recognized as part of the Australian culture since most people have grown up eating the biscuit products made by the company.
The target market of the company is the middle class and the upper class with a prime target on the chidden who are under the age of 12. The packaging of the products made by the company are made in such a way that they can attract their target audience.
The target population of the company has remained for a long time and it also targets lovers of cookies apart from targeting the kids.
As indicated previously, the parent company of Arnott’s is Campbell Soup Group and therefore the company is headed by the CEO who reports to the president of Campbell Soup Group.
The company also has a non-domestic market which is outside Australia. It exports its products to about 40 countries. There are also different product lines which are manufactured by the company. The main product lines are;
* The Chocolate Biscuits- With the brand names such as Tim Tams, Wagon Wheels among others.
* Sweet Biscuits- Tiny Teddy, Fancy Favorites
* Crackers- Savoy, Flavored Crackers
* Savoury Biscuits- Shapes
* Crispbread- Salada
Table of Contents1.0 TOC \o "1-3" \h \z \u Introduction PAGEREF _Toc9459548 \h 32.0 History of Arnott’s Biscuit Limited PAGEREF _Toc9459549 \h 53.0 Key Issues Affecting Australia Biscuit Industry PAGEREF _Toc9459550 \h 64.0 New Product Development Model PAGEREF _Toc9459551 \h 74.1.1 The New Idea PAGEREF _Toc9459552 \h 74.1.2 Screening of the Idea PAGEREF _Toc9459553 \h 74.1.3 Concept Definition PAGEREF _Toc9459554 \h 84.1. 4 Strategic Analysis PAGEREF _Toc9459555 \h 84.1. 5 Testing PAGEREF _Toc9459556 \h 94.1. 6 Market Strategy PAGEREF _Toc9459557 \h 94.1.7 Actual Development of the Product PAGEREF _Toc9459558 \h 105.0 Recommendations and Conclusion PAGEREF _Toc9459559 \h 11References PAGEREF _Toc9459560 \h 11References PAGEREF _Toc9459561 \h 12Appendix PAGEREF _Toc9459562 \h 14
Introduction
The purpose of this business report is to present the development process of a new product by the company. The new product intends to get rid of the common health problems associated with the high intake of biscuits. The product will be having a lower concentration of calories and rich in high ingredients.
This report is also aimed at broadening the knowledge of new product development and marketing. In addition, the knowledge gained for the report can be used by other up and coming manufacturing companies in its preparation and evaluation of ideas and marketing strategies. The principles or theories used in this report include the new product development process and how the company followed all the steps up to the final production of the physical product (Pride et al., 2015, pp. 27).
The report was written in adherence to the concept of marketing environment of the company where the micro environment has a branch cal...