How the Product Fits in with Global, National and Local Food Trends - Management Assignment Help

Assignment Task:

Task:

Food Product — Product Development 
ASSESSMENT NUMBER: 3 ASSIGNMENT TYPE: BUSINESS PLAN OUTLINE — PRODUCT DEVELOPMENT WEIGHTING: 40% WORD COUNT: 1500 WORDS 
ASSESSMENT DETAILS AND INSTRUCTIONS Draft a business plan outline for a new food or beverage product that you would submit to a buyer for the distribution channel of your choosing. 
Your business plan outline must include an executive summary and a table of contents. It should address all the following points:

1. What is the product (briefly include history and how it fits into the market in the modern context as well as what type of new product it is (i.e. line extension, innovative, creative etc.)?

2. What type of consumer you are targeting?

3. How the product fits in with Global, National and Local food trends (Background Research).

4. How you intend to market and position the product.

5. Results of sensory and consumer evaluation.

6. The type of packaging is used including its function, consumer appeal and brand signalling and health claims (including justification and legal aspects) used.

7. What statutory or customer requirements need to be met (e.g. labelling, shelf life, packaging, health claims etc.)

8. Costings which include variable (i.e. ingredient, packaging, labour, transport etc.) and fixed (power, water, insurance etc.) costs, breakeven and how the product compares from a cost perspective to its competition. How do you justify higher price than your competitors)?

9. Long term plans to increase the scale of the operation. 10. What other products could you include in the future to complement this one for the longer-term future of your business? 
You are at a stage now in your studies where you are not only looking at new products in isolation but how they fit in generally in the overall retail marketplace and whether (through your own research) they are likely to be successful financially for the business entity. You should use at least five (5) in-text references. You must submit your assessment through Turnitin in your Engage class. 
DOCUMENT STRUCTURE Each of the following if applicable) should start on a separate page: 
• LCBA title page (mandatory) • main text • references 
 

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