6 Reasons Product Development Is Good For Your Company

What drives established engineering products to spend valuable resources (time, money, human capital, etc.) on new product development. Here are six reasons to invest in new product development.

Competitive Advantage:

Staying ahead of the competition should always be front of mind for existing companies.  New products give you a competitive advantage over your competition.  It might be new sales, more shelf space, consumer impressions or other advantages. If you are the market leader, you want to keep your competitive advantage, if you are not the market leader – you need a competitive advantage. New products allow you to focus on taking a competitive leadership position. There’s leadership position in the nut category is clear and their continued focus on new products keeps them in front.  Their new dessert inspired mixes are definitely look mouth-watering.

Innovation Story:

Speaking of competitive leadership, there is the credibility that comes with being the category innovator.  Innovative companies are thought of as creative and ground-breaking bringing more excitement to their brand and solving consumer problems. Being first is always better than needing to flatter your competition by replicating something they did first and you wish you had thought of earlier. 

Ancillary Sales:

Every brand wants more sales and new products help. New items might not be your number one SKU driving the most sales, but they drive new sales to your brand or category and they provide a continued look at existing products consumers may have forgotten about keeping your brand front of mind. I’m sure watermelon flavored Oreo’s are not their best seller, but each new offering generates loads of consumer media attention and new purchases.

Reason to See Your Buyer & Engage Your Consumer:
Depending on your category you might see your buyer one to four times a year…maybe monthly if you’re lucky. During those meetings you probably discuss general category data including pricing, promotions and performance, but what about products.  Same story different day doesn’t create a lot of reason for the buyer to schedule an extra meeting with you or give you more business.  New products on the other hand generate new discussion and new opportunities.

Test Consumer Trends

Consumers are constantly evolving which means their tastes and preferences change with them. In recent years we’ve see probiotic foods, gluten free, and paleo emerge as just some of the important consumer food trends. Your ability to maintain an active focus on innovation and stay current on trends allows you to be ahead of the curve with emerging consumer trends and test new concepts in early stages of trends and refine them as the trend becomes mainstream. This test and refine concept allows you to see what concepts have potential and which were fleeting while still maintaining a competitive advantage.

Explore Technology

Just like consumer trends drive new products, advances in technology drive new opportunities in various food products as well, typically in the area of food packaging. Food packaging and processing advances have opened up entirely new product opportunities. Your innovation, production and marketing team should constantly be exploring new technology that will aid in new product development.

New product development doesn’t have to be costly, but it must be a priority. Just like we talked about the power of building a marketing-minded culture, it’s equally important to include innovation as part of that ideal to foster continued organizational growth.

Easy Breezy Budget Office Equipment

IT IS EASY to get caught up in the latest and greatest furniture and equipment for your office—you want it to look fabulous and make a statement about your success. But don’t lose sight of your budget. Your cash flow could wind up looking like the national debt.

Don’t despair! It really is a breeze to make good decisions about purchasing equipment, franking machine supplies from nslmailing.co.uk and furniture, have a nice-looking office, and make your business run smoothly and efficiently.

If you have decided that you want to provide your staff with computers, don’t just go out and buy the cheapest models on sale or a mixed batch you find at an auction. Instead, I consider standardizing computers, and find a company that will service them, then make sure they are adequate so that employees can work on them quickly and efficiently.

Looks, appearance, and brand names would not figure high on my list of priorities, nor necessarily would the initial purchase price. Instead, I would think of the total cost of the computers, including service and downtime. How much does it cost if an employee’s computer is down? Ideally, in addition to getting quality computers and a solid service plan, I would have a back-up computer available for use.

Do the Chairs Really Matter?

You are projecting an image with the type of furniture that you choose to outfit your office with. Buying it used can certainly help offset costs, and comes as a recommendation for keeping budgets in check, but make sure that it is in tip-top shape. New or used, your furniture should be professional in appearance. Try for a coordinated look and a simple color scheme carried throughout your office. Good, simple, tasteful design is paramount if you intend to have clients visit your office on a regular basis.

Look for furniture that is comfortable and suitable for at least eight hours a day. Make sure your desks and chairs are ergonomically designed to minimize physical stress. Having heavy computer users develop wrist and hand problems is a risk I would work to avoid.

So yes, choosing comfortable and physically healthy chairs for your employees does make a difference!

Should We Have Our Own Email System?

Even many very tiny businesses have their own proprietary email system—their computer consultant assures them it will be extremely reliable. Well, I have been in too many situations when our proprietary email system has crashed and it has taken a full day or longer to get it back up again. You don’t need to bother with your own email system. I suggest you just find a name that is the same as your business at one of the big, free commercial email hubs. If your business name isn’t available, just find something that sounds professional.

No, don’t get your own email system!

Helping Children Through Grief

Children grieve just as adults do. Any child old enough to form a relationship will experience some form of grief when a relationship is severed. Adults may not view a child behaviour as grief as it is often demonstrated in behavioural patterns which we misunderstand and do not appear to us to be grief such as “moody,” “cranky,” or “withdrawn.”

When a death occurs children need to be surrounded by feelings of warmth, acceptance and understanding. This may be a tall order to expect of the adults who are experiencing their own grief and upset. Caring adults can guide children through this time when the child is experiencing feelings for which they have no words and thus can not identify. In a very real way, this time can be a growth experience for the child, teaching about love and relationships. They can also be involved in the planning of flowers for a funeral with victoriafunerals.com.au.

The first task is to create an atmosphere in which the child’s thoughts, fears and wishes are recognised. This means that they should be allowed to participate in any of the arrangements, ceremonies and gatherings which are comfortable for them. First, explain what will be happening and why it is happening at a level the child can understand. A child may not be able to speak at a grandparent’s funeral but would benefit greatly from the opportunity to draw a picture to be placed in the casket or displayed at the service. Be aware that children will probably have short attention spans and may need to leave a service or gathering before the adults are ready. Many families provide a non-family attendant to care for the children in this event.

The key is to allow the participation, not to force it. Forced participation can be harmful. Children instinctively have a good sense of how involved they wish to be. They should be listened to carefully. Parents who openly talk about their grief, cry, and express frustration, send a message to their children that it is okay for them to do so. Because children cannot carry the burden of all your pain, try to maintain times for play and talk without conversation about the dead person. Balance, as best you can, the sharing of sad feelings, with the sharing of more pleasant activities and times shared together. This lets your surviving children know how much they are valued.

If your child has had an experience with death, (perhaps a pet, or a grandparent), it may be easier to explain the death. Here are some questions which many children wonder about and some suggested answers:

Is death like sleeping? Death is different from sleeping. When you go to sleep your body still works. You still breathe and your heart beats and you dream. When a person is dead, his or her body doesn’t work anymore. Remember that children who are told that death is like sleeping may develop fears about falling asleep.

Why did they die? If the death was from an illness, explain that the person’s body couldn’t fight the sickness any more. It stopped working. Make sure your children know that if they get the flu or a cold, or if mom or dad get sick, their bodies can fight the illness and get better. Their bodies still work. Explain that people do not usually die when they get sick. Most people get better. If the death was from an accident, explain that the person was hurt so badly that his or her body stoppingworking. Explain that when most people get hurt they can get better and live a long, long time.

Will you die? Will I die? Children are looking for reassurance. Let your child know that most people live for a very long time. Children also need to know who will take care of them if a parent or guardian dies. Let them know who to go to for help if there is a family emergency.

Did I do or think something bad to cause the death? Maybe your child had a fight with the person who died. Maybe your child wished this person wasn’t around to get so much attention from other family members. Maybe your child said, “I wish you’d go away from me,” or even “I wish you were dead.” Reassure your children that saying and wishing things do not cause a death to happen.