ERRIGAL SEAFOOD 1962 -2012 Presentation; March 6 th 2013 Author: Shane Mc Gee, New Product Development Manager
ERRIGAL SEAFOOD
1962 -2012
Presentation; March 6th 2013
Author: Shane Mc Gee,
New Product Development Manager
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CELEBRATING 50 YEARS IN BUSINESS
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WHERE WE CAME FROM
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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LARGEST IRISH SEAFOOD PROCESSOR & EXPORTER OF SHELLFISH PRODUCTS .
•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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PRODUCTS
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PRODUCT BRANDS & ACCREDITATIONS
Brands Accreditations
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KEY PARTNERS / STAKEHOLDERS: Focus on Retail Customers
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INNOVATION 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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NEW PRODUCT DEVELOPMENT STRATEGIC PLAN EXAMPLE
Current products New products
Current Markets
Market Penetration
• Pack sizes (Price per Kg)• Rebranding / Design
Product Development
• Packaging • New Species• New Recipes
New Markets
Market Development
• China• Russia
Diversification
• By- product utilisation
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NPD PROCESS
IdeaGenegationStage
Gate 1Initail
Screen
Stage 1Preli
minary Assessment
Gate 2 Second Screen
Stage 2Definition
Gate 3Decision on Business Case
Stage 3Development
Stage
Gate 4Post Develpoment Review
Stage 4Validation
Gate 5
Pre-
Commercialization Decision
Stage 5Commercialis-ation
Review of process
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CONCLUSION 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.
FINISH
Thank you for your time Any Questions?
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