Executive Summary - MUST be proficient in English, FOLLOW directions and NOT be repetitive

Product Innovation Charter

Sabra Dipping Company (“Sabra”) is a company that makes dips, spreads of different types offering 14 different flavors. It also manufactures guacamole that is offered either as authentic as well as a veggie fusion type. Sabra also offers Greek yogurt dips along with salsas.

Sabra bean dip is focused at adding to the variety of dips offered by Sabra. Of all the fourteen dips offered, none of the dips are made of beans. Bean dip would be a preference to bean lovers and those that wish to try a new type of dip. Beans are a good source of proteins that would offer an option to meat lovers or people that would prefer to have an alternative for their protein source. This would also help in increasing market share, increase sales and eventually increase profits. Process is a technology dimension that would be depicted when introducing bean dip into Sabra’s menu. Preparing bean dip would entail going through a process that is different from the process undergone while preparing other dips. Given that beans had not been used in previous products, there would be need for research in order to make quality dip (Custer, 1995).

One of the market dimensions that would be portrayed in the process of introducing bean dip to Sabra’s menu is competitor analysis. Sabra will be required to conduct a competitor analysis in order to offer a product that is different from what they are offering, which will enable it remain competitive. Remaining competitive is vital in every market and companies should strive to retain a competitive position (Mid Sweden University, 2017).

Introducing bean dip into Sabra’s menu will enable Sabra to attract new customers that are bean lovers. Attracting new customers is a short-term goal that should be accomplished in the shortest time possible as a way of increasing the market share, as well as, increasing the products offered, which eventually increases the profit margin. In order to measure this goal, Sabra will compare previous sales with the sales after introducing the bean dip; an addition in the number of customers automatically increases sales. Increasing the number of sales is also a short-term goal that would be accomplished by introducing bean dip into Sabra’s menu. In order to measure this goal, Sabra should compare sales before introducing bean dip and after introducing it. Increasing the number of products offered does not only help in increasing sales, but also the profits. Increasing profits is both a short-term and long-term goal. As a short-term goal, introducing bean dip will help in increasing the profits as the number of customers would increase. In order to measure this goal, sabra should compare profit incurred before and after introducing the dip.

On the other hand, the profit margin would increase in long-term as the new clientele is likely to continue increasing due to retaining and referrals. Another long-term goal that will be accomplished by introducing the bean dip is an expansion of the market share. By introducing bean dip into its menu, Sabra will be in a position to attract a new clientele that will enable it capture a wider market for its products. Comparing sales is the tool that should be used to measure this goal. Another long-term goal that would be accomplished is gaining a competitive edge. By introducing bean dip into its menu, Sabra will be able to gain a competitive edge over its competitors as it will have attracted a new group of customers which would enable it remain at the top when it comes to product varieties, sales, and profits. In order to measure this goal, Sabra should compare its progress to that of its competitors by analyzing the products they offer, as well as, their growth or expansion.

Bean dip is a product that is made through preparing and cooking beans in a special way depending on one’s recipe to form a syrup. Beans are a cheap and locally available raw material for a dip. As compared to other dips, such as, humus that is made of chick peas and Tahini that is made of Tahini seeds, beans are cheaper and easily available (Sabra, 2017). Therefore, it is time saving to use beans for dips as compared to other dip varieties.

Using beans to make a dip is a unique innovation as most people think of it as a meal or a side dish and not a dip. It is also simple to make it. Using different recipes and ingredients Sabra will be able to make its bean dip as tasty as it should be. Beans are a good source of proteins, thus can be used as a dip with none protein foods. It can be taken together with carbohydrates such as bread or any other type of food. Additionally, beans provide a source of proteins for vegetarians, therefore Sabra will be able to attract this group of individuals who lacked their dip of preference.

As senior manager, there is need to ensure that the company’s goal and objective are achieved through performance and innovation. In order to innovate new products there is need to invest in research and development. Research and development serves as a way of ensuring the company remains innovative and up to date in matters to do with technology that enable it remain competitive. In this regard, the introduction of bean dip will help in in attracting new customers, increase sales, profits and also enable Sabra remain competitive. The main goals of Sabra is to retain customers, attract new ones and increase the profit margin, thus, introducing a new a new line of product will help in the accomplishment of these goals.

References:

• Custer, L.R. (1995). Examining the dimensions of technology. International Journal of Technology and Design Education. 5(3), 219-244.

• Davila, T., Epstein, M., & Shelton, R. (2013). Making innovation work: How to manage it, measure it, and profit from it. Upper Saddle River, NJ:

• Mid Sweden University. (2017). Market Dimensions. Retrieved from https://webcache.googleusercontent.com/search?q=cache:ozOkneJgFDIJ:https://www.miun.se/en/ETOUR/evenemangskompassen/Getting-Started/The-Dimensions/Marketing-Dimension/+&cd=17&hl=en&ct=clnk

• Sabra. (2017). Home page. Retrieved from http://sabra.com/

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