During Commercialization, your team will prepare your product for grocery store launch by completing the following objectives.
- Confirm product quality produced during scale-up meets consumer expectations with Home Use Test (HUT).
- Define and document your product with Final Product Specifications, Package Label, and the team’s completed notebook.
- Compare and defend the quality of your product using Ingredient Pricing/Suggested Retail Price (SRP) & the Final Presentation.
- Your team will need to move faster on paperwork and documents in this section than in previous sections. Attention to detail is critical due to time constraints associated with a successful product launch.
- It is okay to divide tasks and be working on multiple tasks per lab period.
- Make a plan to complete tasks, so you can stay on top of all of the items.
The following is a checklist to help in organizing the work for this strategic objective.
___ Consumer acceptance test (Home Use Test or HUT)
___ Shelf Life/Abuse Testing
___ Final product specifications including packaging materials and specs.
___ Final package with approved Nutrition Facts Panel. All labels and final packages must be approved.
___ Ingredient costs: Determine your ingredient costs and calculate a theoretical SRP based on information provided (model costing including manufacturing costs, packaging, marketing/advising, company profit, grocery store mark-up, etc.) and compare your predicted SRP with a chosen competitive product(s).
____ Professional oral presentation – needs to be reviewed and approved during the lab period before the presentation
____ Notebooks: completed with detailed table of contents – due Finals Week
Week 1. Finishing processing scale-up and report, getting home use test written/approved/sent out, and getting shelf-life testing/abuse testing and analytical testing started. Submit ingredient list for pricing.
Weeks 2 & 3. Work on items not yet complete, plus work on final product specifications, packaging materials, and the product label.
Week 4. Work on the final product label, package, pricing, and presentation.
Week 5. Get the final presentation approved and present to the board. Work on the commercialization report.