Product Development on Kraft



Product Development on Kraft

Introduction

Kraft Foods is one of the leading food and drink, with a large portfolio of well known brands. Kraft Foods limited realizes the importance of introducing new products in the market in order to maintain its competitive edge (www.kraftfoodscompany.com). Kraft foods cater to a wide variety of consumers, each having differing needs and wants. In order to maintain the consumer base and the popularity as a strong brand among loyal consumers, it is necessary that Kraft Foods look after research and development to innovate and experiment with its offerings.

This assignment seeks to address two new products being offered by Kraft Foods Limited, in order to describe and explain the characteristics as well as the consumer behaviors for the offered products. The types of new products will be discussed along with establishing and assessing the importance of branding for each one of these. Their competitors are analyzed along with evaluating the benefits that they offer to end consumers.

Discussion

Kraft Foods products include baking & desserts items, dairy items and cheese-made products, hot dogs, bacon, deli meat items, coffee and beverages, sauces, dressings, cookies, snacks, candies and many other products that endow the shelves of major supermarkets in international stores. The two new products that we have chosen in this regards is:

New Planters Peanut Butter

Honey Maid Lil' Squares (www.kraftfoodscompany.com).

What type of consumer product is it? Explain your reasoning

Planters Peanut Butter, as the name suggests itself, is a snack that can be relished by adults and children alike. It can be made a part of the daily routine, where they can make sandwiches using the butter for any meal of the day. Kraft is targeting adults, who consume two-thirds of the $1.8 billion of peanut butter sold in the U.S. each year. The butter offers a ...