How we make new products

I. Idea Generation

Think of idea generation as planting seeds in fertile ground—you need many seeds to grow a few exceptional plants. Customer feedback often reveals unmet needs. Internal sources prove equally valuable. External sources expand the idea pool further. Competitors’ products can inspire improvements or variations, while university research partnerships might reveal cutting-edge agricultural technologies ready for commercial application.

II. Idea Screening

Not every idea deserves investment, and idea screening acts as the first quality filter. This stage eliminates concepts that don’t align with company capabilities, market realities, or strategic objectives. Screening criteria typically include technical feasibility, market potential, and resource requirements. Financial preliminary assessment plays a crucial role here.

III. Concept Development and Testing

Surviving ideas now get transformed from rough concepts into detailed propositions. This stage is like creating a detailed blueprint before construction begins. Testing these refined concepts with target customers provides invaluable feedback. Different concept variations often get tested simultaneously.

IV. Business Analysis

Dreams meet reality in the business analysis stage. This involves detailed market size estimation, sales forecasting, cost analysis, and profitability projections. Market analysis examines the target segment’s size, growth potential, and competitive landscape. Cost analysis covers both development expenses and ongoing production costs. Revenue projections require realistic sales estimates based on market penetration assumptions.

V. Market Testing

Test marketing typically involves launching the product in limited geographic areas or specific customer segments. Results from market testing inform final adjustments to product formulation, pricing, positioning, or marketing strategies.

VI. Commercialization

The final stage transforms tested products into full market offerings. Commercialization requires careful coordination of production scaling, distribution network activation, marketing campaign launches, and sales force preparation.