This presentation outlines the inception of WOWZO- a smart, tasty and not fried snack that contains no trans fats. This brand and its products have been developed especially for kids and young adults.
Delicious | Not Fried | Zero Cholesterol | No Trans Fat | Feather Light
2. PRODUCT CONCEPT
Guilt-free snacks targeted at Children of age group 5-14 years
Using Corn/Potato as base material
New Product segment to compete with Potato Chips from leading
brands
Key Characteristics:
Not Fried
No Trans Fat
Low fat & Oil content compared to Chips
Competitively priced
3. TARGET SEGMENT
Children of age group 5-14 (Primarily in Urban Area)
Final user segment –
Growth stage- Taste shapes up
Highly Influenced by choice of peers
Influence purchasing decision of parents
Taste matters more than nutrition
Buyer segment –
Parents ( Primarily Mid & Upper income cap)
Possesses basic level of Health consciousness &
awareness
Kids-they enjoy trying out new products
4. PURPOSE OF CONCEPT TEST
Product Aspect Positioning aspect
Believability of the
concept
Acceptability of the
concept
Further improvement
Price
Market size
Suitable distribution
channels
5. SURVEY POPULATION & FORMAT
High income urbanites and sub-urbanites
Questions to check suitability of surveyed to
our target market
Do you have kids?
If yes, which age group would you place them in
< 5 Years
5 – 14 Years
> 14 Years
Survey Format : Online survey using
www.qualtrics.com
6. CONCEPT COMMUNICATION
Type of Communication –Verbal description
Concept statement
“ Wowzo”
- Its not another junk snack. Can be had by your child
without worrying about health impact.
Made from common, kitchen ingredients
Free from the harmful effects of fried and re-fried oil.
No Trans Fats
Convenient on the go snack.
7. WHAT WE WANTED TO MEASURE
Decision making process when buying snacks
Attractiveness of the new product in the target
market
Willingness of trial of the new product
Market size for the new product
Optimal distribution network
8. HOW TO DEVELOP THE CONCEPT
FURTHER
Improve the product based on unbiased perception about
healthier, smarter, guilt-free snacks
Measure the effect of different packet sizing on product
adoption
Scope for increasing visibility through association with
other lifestyle products
9. Positioning
Category On the go snacks
Market Urban upper and middle class population
with basic awareness of health and nutrition
Price Competitive
Competitor Fried snacks (higher competition) and
nutrition and health based snacks(lower
competition).
Packaging Glossy with interesting colours and visual
elements
12. IMPROVING ADOPTION
Rogers Five Factors of Diffusion
Relative Advantage Not fried product.
No loss of value as a fun, snack food
Compatibility No significant change in taste involved
Complexity Educate the customers about product
benefits
Trialability Readily available at leading locations
frequented by target segments
Observability Independent SKUs
Differentiated color/packaging
13. IMPROVING ADOPTION
Target the right segments initially in the diffusion curve
Innovators and Early Adopters
Market Orientation vs Product Orientation
Focus on customers communication product information improve
awareness
Get customer feedback on product
Improve inter-functional co-ordination for better responsiveness to market
changes
Customer Education
Product Benefits
Continuous Improvement
Learning in customer education, inter-functional co-ordination & extensive
communication