Executive Summary - MUST be proficient in English, FOLLOW directions and NOT be repetitive
Capella University
New Product Idea Rationale
March 5, 2017
Most existing companies take new product growth as a massive process and activity. Companies are said to embrace new products as way to improve their prospects and eliminating any dreadful debts incurred. Their main aim is to seek success by taking advantage of the new market. It is important are companies realizing a potential in the current market and generate approaches that would help them in achieving their goals (Ozer, n.d).
Founded in 1986 in Queens, New York, Sabra Dipping Company is the leader in the refrigerated dips and spreads category and producer of America's top-selling hummus. Sabra's award-winning products offer consumers fresh new ways of eating and connecting and include more than a dozen flavors of hummus and a wide range of refrigerated dips and spreads including salsa, guacamole and Greek yogurt dip.
A new product that the company could embrace is a line of bean based hummus. This product would a variety of beans that are connected with various ethnicities which would add color and flavors as well as embrace a variety of cultures.
This product fits in Sabra Dipping Company’s profile as they have taken the market by storm with their hummus and now this new line could be called “Sabra Bean Dips”. A bean dip would be a great product as well as a healthy one. Though there are other bean dips in the market, the power behind the Sabra brand would give the needed edge to make it a success.
The target market would be the typical hummus consumer however depending on the bean the target would be consumers from countries that a particular bean is a staple, for example, pinto beans are a Hispanic staple. These bean dips can be marketed as dips or spreads.
References:
Ozer, M. (2004, July 01). Managing the Selection Process for New Product Ideas. Retrieved March 05, 2017, from https://www.questia.com/library/journal/1P3-661831501/managing-the-selection-process-for-new-product-ideas
Ozer, M. (n.d). WHAT DO WE KNOW ABOUT NEW PRODUCT IDEA SELECTION? Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.130.7712&rep=rep1&type=pdf
