ABSTRACT
New product development is an important source of business growth for both food manufacturing businesses and restaurants. Food manufacturing companies can grow revenue either by increasing the sales of existing product lines or by adding new products. It is often easier to grow through new products, so businesses are usually busy with research and development of new products. Restaurants also need a constant stream of new menu items to keep their menus fresh and prevent regular customers from becoming bored with the menu. For independent restaurants, new menu items are often simply the result of the chef cooking with a different recipe, but for chain restaurants the addition of a new menu item shares many of the characteristics of a new product launch for a food manufacturing company. This chapter will focus on all the steps a business goes through from conception to sale of a new product.
