PLEASE READ THIS INSTRUCTIONS CAREFULLY!!!
New Product Development: New product proposal for Kellogg´s
– You are asked to write a new product proposal to the CEO of Kellogg`s !
(New to the firm, not new to the world!)
– New Product: Flavored Straws (similar to: www.magicstraws.com)
-New Product Name: Slurpy
-Take the opportunity to profit from the current flavored straws hype!
-great marketing opportunities at relatively low cost due to Kellogg’s wide customer base(e.g. promotion in each Kellogg’s package, find attached an example I created)
-Target customers: Children (parents)
-3 different flavors (Packaging similar to magic straw, 1 Mixed package & 3 pure flavor packages
-9 Straws per package& each sealed separately for increased storage life
-Get children to drink more milk and live more healthy (Straws should contain 4-6 nutrition’s to support the health argument)
-Be creative and follow great new product proposal requirements as well as the following outline !!!
Grading will be based on :
1. Originality of the idea
1. Identify the opportunity/problem
2. Provide a solution (that is the new product)
3. anticipate the results ( show/justify how the new product can address issues)
— focus on the bottom line, no technical details
— sell your idea (see the opportunity), what is the benefit to the company?
— centered on the solution
— proposal must be persuasive and assertive
— use modals: will & can NOT should!
— use an appendix for all graphs and bulk data
Who is your audience?
-The proposal is for the CEO of KelloggÂ´s (not interested in technical details, wants to know the solution to an opportunity/problem)
Structure of the proposal: Please follow the outline below. Additional product proposal requirements will be highly appreciated!
1. executive summary
Features: -most important part
-needs a sale pitch
-not focused on details, but on outcome/returns
-2 or 3 paragraphs, must be persuasive, match clientâ€™s needs (know his background)
-use Business key words and phrases, but no technical words
-Why? Establish the possible opportunity/problem faced by the client/company
-What? recommend solution, explain value, unique selling point
-How? provide substantiation, list deliverables, outcomes
-So? End off with compelling reasons for the proposal to be accepted
-Objective: present and summarize the problem
1. provide Background info to the opportunity/problem
2. give a solution (preview)
-Provide complete details, specify anticipated idea
-Marketing strategy (4Ps, SWOT)
-other aspects that would interest the CEO (maybe risk and uncertainty??)
Consideration: Draw details from eg. survey results, research, financial charts
4. Conclusion (Function content)
-reiterate solution (new product) and mention opportunity
-mention important measurable outcomes (ROI, Profits, margins etc)
-project a favorable future vision of the product
5. References & Appendix
Please remember at all times, the target audience of this new product proposal is the CEO not the consumer! Financial data support of selling points are essential !
Thank you & kind regards!