The Algorithm for Substantiating Development of Products of Functional and Specialized Purpose

Abstract

In conditions of the current market situation marketing strategy, which covers substantiation, launching the new product to market and its further promotion are as important elements of the efficient enterprise work as product popularization and forming the positive attitude to it on the part of potential audience. Today the topic of healthy life style becomes popular all over the world, one of its component is introduction of functional and specialized foods into the diet. In the Republic of Belarus the demand for such food is also rising. The article provides results of analyzing the overseas experience in promoting foods with innovative composition and puts forward algorithm of marketing substantiation of development of new products of functional and specialized purpose, which was tested by muesli bars as an additional source of food fibre and product without sugar. Practical application of the author’s algorithm, which can be used as an action plan aimed at strategic development of product and includes mechanisms through which advantages of the new product can be brought to customer notice could give an opportunity to attain goals set for the enterprise and identify clearly the outcome of idea realization.