Excerpt:
The following report details a proposal for a revolutionary new Breville product: a Click and Drain convenience pot. This report details the development of this innovative product from the initial Concept Development right through to a Financial Analysis and a Market Launch Strategy.
Breville’s new Click and Drain convenience pot is an ergonomically designed product to make draining boiling water from pots both safer and easier. This is achieved by clicking off one of the two ergonomically designed handles to expose water-draining holes. The Click and Drain is crafted in brushed stainless steel, and is made with a Quantanium™ non-scratch, non-stick interior. The glass Cook and Look™ lid of the new Click and Drain pot can be locked on for further convenience and safety.
Table of Contents
- 1.0. Opportunity Identification and Selection
- 1.1. Company Background
- 1.2. Mission Statement
- 1.3. SWOT Analysis of Breville
- 1.4. The Market
- 1.5. Market Trends
- 1.6. Identified Consumer Need
- 1.7. The Product Innovation Charter
- 1.7.1. Focus
- 1.7.2. Goals and Objectives
- 1.7.3. Guidelines
- 1.8. Strategic Fit
- 2.0. Concept Generation
- 2.1. Idea Generation Techniques Used
- 2.1.1. Solving the Problem
- 2.1.2. Analytical Attribute Techniques
- 2.2. Concept Statements
- 2.2.1. Lock and Flip
- 2.2.2. Removing Strain
- 2.2.3. Elephant Sucker
- 2.2.4. Click and Drain
- 2.2.5. Sliding Vent
- 2.2.6. Netting Base
- 3.0. Concept Evaluation
- 3.1. The Full Screen
- 3.2. The Chosen Concept
- 3.3. Concept Testing
- 3.3.1. Purpose of the Concept Test
- 3.3.2. Concept Test Format
- 3.3.3. Selection of the Respondent Group
- 3.3.4. The Interviewing Process
- 3.4. A-T-A-R Model
- 3.5. Product Protocol
- 3.5.1. Target Market
- 3.5.2. Product Positioning
- 3.5.3. Product Attributes
- 3.5.4. Competitive Comparison
- 3.5.5. Augmentation Dimensions
- 3.5.6. Timing
- 3.5.7. Requirements
- 3.5.8. Potholes
- 4.0. Concept Development
- 4.1. Development of Concept
- 4.2. The Final Concept
- 5.0. Product Launch
- 5.1. Market Testing
- 5.2. Preliminary Financials
- 5.2.1. Income Statement
- 5.2.2. Cash Flow Statement
- 5.3. Launch and Marketing Strategy
- 5.3.1. Strategic Launch Planning
- 5.3.2. Launch Implementation
- 5.3.3. Launch Management
Objectives and Key Themes
The main objective of this report is to propose a launch strategy and market plan for Breville's new Click and Drain convenience pot. This involves detailing the product's development, from initial concept to financial analysis and market launch. The report aims to demonstrate the viability and profitability of this innovative product.
- Product Innovation and Development
- Market Analysis and Target Consumer Identification
- Financial Projections and Viability Assessment
- Marketing and Launch Strategy
- Ergonomic Design and Consumer Needs
Chapter Summaries
1.0. Opportunity Identification and Selection: This chapter lays the groundwork for the Click and Drain pot's development by providing background information on Breville, its mission statement, and a SWOT analysis. It identifies a consumer need for a safer and more convenient way to drain boiling water, establishing the market opportunity and Breville's strategic fit within it. The chapter details market trends and the specific consumer segment targeted: busy individuals aged 17-40 setting up new homes. This section effectively sets the stage for the subsequent concept generation and development phases. The Product Innovation Charter section clearly defines the focus, goals, and guidelines for the project.
2.0. Concept Generation: This chapter details the process of generating various concepts for the new pot, employing techniques such as problem-solving and analytical attribute analysis. Several innovative ideas are explored, including "Lock and Flip," "Removing Strain," "Elephant Sucker," "Click and Drain," "Sliding Vent," and "Netting Base." Each concept is carefully described, highlighting its unique features and potential benefits. This iterative process showcases the creative thinking and methodical approach taken to arrive at the final product concept.
3.0. Concept Evaluation: This crucial chapter focuses on evaluating the generated concepts, selecting the "Click and Drain" concept, and conducting thorough concept testing. The chapter explains the purpose and methodology of the concept test, including the selection of the respondent group and the interview process. It incorporates a discussion of the A-T-A-R model, and lays out a detailed product protocol that covers the target market, product positioning, attributes, competitive analysis, augmentation dimensions, timing, requirements, and potential pitfalls. This comprehensive evaluation ensures the chosen concept aligns with market demands and business objectives.
4.0. Concept Development: This chapter describes the detailed development of the "Click and Drain" concept into a fully realized product. It outlines the evolution of the design, likely including discussions of material selection, ergonomic improvements, and other refinement processes that optimized the product. This section would showcase the transformation from a simple concept to a finished design, ready for production and market launch. The final concept is fully defined.
5.0. Product Launch: This chapter details the market testing of the Click and Drain pot and presents preliminary financial projections, including income and cash flow statements. This provides a strong indication of the product's potential profitability. It also elaborates on the launch and marketing strategies which will effectively bring the Click and Drain pot to market. The report discusses strategic planning, implementation, and management to ensure a successful launch and market penetration.
Keywords
Breville, Click and Drain, convenience pot, product innovation, market launch, target market, consumer needs, ergonomic design, financial analysis, marketing strategy, New Zealand market, profitability, concept testing, product development.
Breville Click and Drain Convenience Pot: Product Launch Strategy and Market Plan - FAQ
What is the main objective of this report?
The main objective is to propose a comprehensive launch strategy and market plan for Breville's new Click and Drain convenience pot. This includes detailing the product's development from initial concept to financial analysis and market launch, demonstrating its viability and profitability.
What are the key themes explored in the report?
The report explores product innovation and development, market analysis and target consumer identification, financial projections and viability assessment, marketing and launch strategy, and ergonomic design considerations in relation to consumer needs.
What are the stages of product development covered in the report?
The report covers five key stages: 1. Opportunity Identification and Selection; 2. Concept Generation; 3. Concept Evaluation; 4. Concept Development; and 5. Product Launch. Each stage is thoroughly detailed, from initial market research and idea generation to final product design, financial projections, and marketing strategy.
How was the "Click and Drain" concept developed?
The report details the concept generation process, using techniques like problem-solving and analytical attribute analysis. Multiple concepts were explored before "Click and Drain" was selected, based on thorough concept testing and evaluation using the A-T-A-R model. The final concept's development involved refining the design, materials, and ergonomics to optimize the product for the target market.
Who is the target market for the Click and Drain convenience pot?
The target market is identified as busy individuals aged 17-40 setting up new homes in New Zealand. This demographic was selected based on thorough market research and analysis of consumer needs and trends.
What kind of market analysis was conducted?
The report includes a SWOT analysis of Breville, an assessment of market trends, and an identification of a specific consumer need for a safer and more convenient way to drain boiling water. Competitive analysis is also included in the product protocol section.
What financial information is included in the report?
The report provides preliminary financial projections, including income and cash flow statements, to demonstrate the product's potential profitability. These projections support the viability of the launch strategy.
What is the marketing and launch strategy?
The report details a comprehensive marketing and launch strategy, covering strategic planning, implementation, and management aspects to ensure successful market penetration. Specific tactics are not detailed but the plan is outlined.
What is the role of concept testing in the product development process?
Concept testing played a vital role in selecting the "Click and Drain" concept. The report describes the purpose, format, respondent selection, and interviewing process involved in the concept test, highlighting its importance in aligning the product with consumer preferences.
What are some of the key features of the "Click and Drain" convenience pot?
While the specific features aren't explicitly listed, the report emphasizes the pot's improved safety and convenience in draining boiling water. Innovation in design and ergonomics are central to the product's appeal.
- Quote paper
- Jörg-Stefan Schöttler (Author), 2003, Innovation and new product development, Munich, GRIN Verlag, https://www.grin.com/document/21208
