Errigal Seafood is an Irish seafood company that was founded in 1962 as a vegetable canning factory and has since evolved into a shellfish specialist. It has annual turnover of €26 million, 62% growth over the last 3 years, 200 employees, and exports to 20 countries. The company is focused on retail customers and innovation through new products, packaging, recipes, markets and by-product utilization to continue meeting evolving consumer demands.

1. 1962 -2012
Presentation; March 6th 2013
Author: Shane Mc Gee,
New Product Development Manager

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3.  1962 - Co-founder, Fr Mc Dyer opens
Vegetable Canning Factory.
 1972 - Changed to Fish & Shellfish.
 Errigal Eisc Teo.
 2007 exclusive specialisation in shell fish.
 2011 – Name Change to Errigal Seafood.
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4. •Turnover of €26 million per annum.
•62% increase in turnover in last 3
year
•200 employees.
•15,000 sq ft state of the art facility.
• Exporting to up to 20 countries.
•Unique Patented Processes extending
shelf life to 35 days
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6. Brands Accreditations
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7. KEY PARTNERS / STAKEHOLDERS:
Focus on Retail Customers
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8.  Innovation is about doing new things, or doing old
things in a new way (Kim and Mauborgne, 1999).
 “Innovation is not like most other business functions
and activities, there are no reliable templates, rules,
process, or even measures for success” (Harvard
Business Review, 2002).
 A product has many dimensions; price; packaging;
features; technology; level of service; brand name;
quality specifications, and by changing one or a
number of these dimension you could label the
product as „new‟ and can be described as new
product development (Trott, 2008).
 “A decline in product innovations is matched only by
a decline in market share” (Ughanwa and Baker,
1989: Trott, 2008),
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9. Current products New products
Market Penetration Product Development
Markets
Current
• Pack sizes (Price per Kg) • Packaging
• Rebranding / Design • New Species
• New Recipes
Market Development Diversification
New Markets
• China • By- product utilisation
• Russia
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10. Idea Stage 1 Gate 3 Gate 4 Gate 5
Gate 1 Gate 2 Stage 2 Stage 3 Stage 4 Stage 5 Review
Genegat Prelimin Decisio Post Pre-
Initail ary Second Definiti n on Developm Develpom Validatio Commerci Commerci of
ion Screen ent alization
Screen Assessme on Busines ent Stage
Review
n
Decision
alis-ation process
Stage nt s Case
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11.  Consumer requirements are becoming more
elaborate.
 Greater choice from which to select and purchase.
 No longer just want low-priced products, but also
want them to be of higher quality and more
enjoyable to consume or use.
 In today‟s innovation process, it is critical to identify
key consumer insights at the front end of the product
design cycle. It also requires reusing past insights and
market research from existing, failed, or successful
products.
 In a world where consumption is a primary activity,
consumers, want to be able to choose the products
that consistently meet their needs and desires.
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12.  Thank you for your time
 Any Questions?
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