Case Study Example

Chocoberry has been a major supplier of raw material for chocolates and other cocoa based products across the globe. The changing trends and perspectives towards chocolates and chocolate based products have been major catalysts for CB to look for new opportunities in the production and marketing of chocolate and cocoa products. The discovery of anti-oxidant properties and other health related information about the choco candies are strong elements that can be exploited to create market for new health related candies.

CB needs to explore the market and conduct feasibility for new opportunities for maximum gain. The ideas and concept for new products are therefore critical aspects which could provide CB with competitive advantage in the industry. Idea generation Choco products are popular amongst public so a survey for new choco products can be conducted by the MBA students to find the preferences of the people. Thus, imaginative ideas for new products are necessary for evolving creative concepts that can meet the changing preferences of people.

Indeed, ideas for new products or value additions must be people centric so that people’s changing preferences can be effectively exploited. Brainstorming session is one of the most popular methods of exploring new ideas which should be mediated by MBA students. Thrashing of ideas in groups provokes individuals to be creative and at the same time apply critical thinking to evolve ideas into concrete concepts that can be visualized with distinct shape, color and taste that meet the requirement of the customers.

Ideation is key to new product development and therefore must be performed by the special team created by the CB management. It primarily includes the process of generation, development and implementation of ideas into creatively conceived products or value addition to a product. Hence, it should comprise of persons from different departments of CB as they have more information about the pros and con of choco products. Presence of MBA students is necessary as they can analyse the feasibility of conceived new products in the market.

As mediator, they can also temper the flow of ideas into more focused themes that can be conceptualized into new products. Idea evaluation The ideas need to be evaluated for their market success by defining parameters vis-à-vis design, size, color and taste. These ideas should be evaluated by testing them amongst the general public through short survey to minimize the possibility of rejection. It would short list the ideas that can then be used for conceptualizing them into defined products so that they can be produced on a pilot basis before making the big launch.

Toubia (2006) asserts that successful new product ideas incorporate creative ideas which use evaluation criteria so as to meet the demands of the consumers. The pilot project would help to find if the new products would be successful. If successful, it can be produced for mass consumption else the process should start again with fresh idea generation. The major criteria for evaluation need to be based on the preferences of the people who would be their final consumers. Hence, people’s changing requirements must be assessed to evaluate the ideas for new choco based products.

Another important aspect of ideation is to ensure that relatively large and diverse sample is selected that can represent the changing dynamics of society and encompass their preferences to make new products more widely acceptable. (words: 557) References Toubia, O. (2006). Idea Generation, Creativity and Incentives. Marketing Science, 25, 411-425.