The Business of Food Science

Next Generation Science / Common Core State Standards! CCSS. Cite specific textual evidence to support analysis of science and technical texts, attending to important distinctions the author makes and to any gaps or inconsistencies in the account LA Literacy. RST.11 ‐ 12.1 CCSS. ELA Literacy. RST.11 ‐ 12.2 Determine the central ideas or conclusions of a text; summarize complex concepts, processes, or information presented in a text by paraphrasing them in simpler but still accurate terms.

Agriculture, Food, and Natural Resource Standards Addressed FPP Apply principles of human behavior to develop food products to provide a safe, wholesome and nutritious food supply for local and global food systems. FPP a. Research and summarize relevant factors in planning and developing a new food product (e.g., regulation, creativity, economics, etc.).

Bell Work / Learning Objectives! Explain food product development. Describe the process of food product development. Define and discuss the marketing of food products. Describe the four P’s of marketing.

Terms Advertising Bench-top formulation Focus group Food marketing Food product development Law of demand Law of supply Merchandising Need

Terms New product strategy Pilot-plant formulation Place Price Process Product Product demand Product feasibility Product mix Product rollout Promotion Prototype Sensory evaluation Target market Test market Want

Interest Approach List ideas for a totally new food product. Consider the questions a company needs to answer before it can offer the new product to consumers.

What is food product development? Food product development is the process of creating a new food product. New products generate consumer demand. They add to the number of products a company sells.

Product mix Product mix is the variety of products that the same manufacturer offers for sale. Food product development covers the entire period from when a product is just an idea through when it is produced in final form.

Product Mix

Disciplines in food development Science in food product development Art in food product development Business in food product development

What process occurs when a new product is developed? Food product development is the process of inventing and creating a new food product. In food product development, a process is an ongoing method involving a number of stages from conceptualization of the product thr ough its production.

Sensory Evaluation is Important

Successful food product development involves 11 stages: Develop clear corporate objectives Develop plans to meet objectives Generate new product ideas Screen, rank, and test new idea Translate the ideas into product types.

Successful food product development involves 11 stages: Sensory evaluation Prepare for commercial product Test Market Market simulations Product Refinement Product rollout

Product type phases: Prototype Bench-top formulation Pilot-plant formulation

What is food marketing? Food marketing is providing the food items and associated services that people need and want.

Food marketing is guided by these principles: Identifying needs and wants. Identifying methods for fulfilling wants and needs. Product demand

Law of Supply Law of Supply states that as the price of a product increases, producers will supply more of the product. It is represented graphically by the supply curve.

Law of Demand Law of Demand states that consumers will buy more of a good as the price decreases, and less of a good as its price increases. It is graphically represented by the demand curve.

What are the four P’s of marketing? Product Place Promotion Price

Review/Summary What is food product development? What process occurs when a new product is developed? What is food marketing? What are the four P’s of marketing? How do they apply to the food industry?

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