Holiday Snacks Limited of Trinidad and Tobago

Abstract

The study will be undertaken to discover how Holiday Snacks Limited of Trinidad and Tobago develops their new products based on theories. Theories on new product development from various writers will be presented, analysed and one main theory for academic reference throughout this paper will be chosen.

An analysis will be conducted into Holiday Snacks to determine the potential for the appropriateness and success of the new product. The success of Holiday Snacks’ newly developed product will be measured in terms of customer satisfaction.

Holiday Snacks’ new product development process will be compared to the academic theory in order to highlight any strength or weaknesses in either of the two processes and to understand how theoretical new product development models are applicable to real world scenarios.

Research will be done through primary and secondary measures to determine the new product development of the company and compare it to theories. Focus groups and questionnaires will be used to analyse customer satisfaction of this new product. The researcher will also do observations to get a general knowledge of the market. Finally, conclusion and recommendations will be made to Holiday Snacks for further development of new products in the company.

Table of Contents

Page #

Chapter 1: Introduction

Background to the Company 6

Appropriateness of Title 7

Aims of research 8

Objectives of research 9

Chapter 2: Literature review

Introduction to literature review 10

Ray Wright’s New Product Development Funnel 10

Kotler’s New Product Development Process 16

Hauser & Urban’s New Product & Service Development Process 19

Comparison and choice of NPD Model 20

Introduction to Customer Satisfaction 22

Winer’s Customer Satisfaction 22

Kotler’s Customer Satisfaction 24

Comparison and choice of Customer Satisfaction Model 25

Customer Satisfaction Scales 26

Chapter 3: Methodology

The data collection process 28