New Food Profile

Objective: Assess the uniqueness of your new product idea

Outcomes: Detailed information on similar products that have already entered the market

Benefits: Improved new product planning, customer satisfaction and profitability

The FPC’s New Food Profile service is a fast and affordable way to find out just how unique your new product idea really is BEFORE making major investments in product development and committing to a final product form. With access to proprietary data, FPC consultants can provide a wealth of information on similar products that have already entered the market¹; often in as little as two to three days! Report options include:

• Category Analysis - FPC consultants will search up to three related food product categories for product introductions that match the product characteristics of your new product idea (cooking wine, cooking sherry, cooking vinegar). Detailed profiles will be provided on up to 20 of the best product matches, including²:
  
  
  • Brand & product name, product category, SKU count & flavors/varieties; UPC codes, product price, merchandising location & discovery date; package type and size; manufacture name, address & website; product ingredients, nutritional information, product claims and detailed product explanations (as available) for each product; and summary information from the initial scan for the number of product hits by product category, flavors, product claims, packaging, and other key search criteria. Cost for the New Food Profile Category Analysis: $495 ($595 beginning January 1, 2013).

• Concept Analysis; FPC consultants will search for product introductions that match your new product idea at the concept level including the customer benefits provided, alternative product forms providing these same benefits, and alternative delivery mechanisms. Detailed profiles will be provided on up to 20 products with similar and alternative product forms and delivery mechanisms providing the same customer benefits as your new product idea, including²:
  
  
  • Brand & product name, product category, SKU count & flavors/varieties; UPC codes, product price, shelf location & discovery date; package type and size; manufacture name, address & website; product ingredients, nutritional information, product claims and detailed product explanations (as available) for each product; and summary information from the initial scan for the number of product hits by product category, flavors, product claims, packaging, and other key search criteria. Cost for the New Food Profile Category Analysis: $895 ($1195 beginning January 1, 2013).

¹ The New Food Profile is not intended to be an exhaustive search of all similar/competing new product introductions. It is intended to characterize an existing market space and assess the uniqueness of the client’s new product idea. Information on similar products is recorded only at the time of a product’s introduction; the information is not updated, or monitored to determine if specific products are still on the market.

² Complete information is not available for all matching products due to: prevailing FDA labeling regulations at the time of product introduction; FDA labeling exemptions for small producers; limitations of communication technology at the time of product introduction, particularly those introduced prior to 2005; variations in completeness of individual reporter follow through.