If you want to make a success in the healthy food/nutrition business, here are some of the "most-proven" elements of strategy that you need to follow... sage advice from Julian Mellentin, founder and executive director of New Nutrition Business.
Exclusive to FOODStuff SA: selected articles from THE journal for the business of food, nutrition and health
Dairy innovation is taking a new direction. The last two decades have seen product developers focus on low/no-fat and on attempting to shoehorn into dairy products ingredients such as plant sterols, omega-3s and others, in order to offer medicalised benefits. But this period is over. The new direction is what some companies are calling “Dairy 2.0”, says New Nutrition Business.
Thanks to the recent decision by the UN FAO to change the test methodology for proteins, dairy protein will be able to market itself as being of higher quality – more available to the body – than other proteins. But to make the most of their new advantage, producers of dairy protein will need to up their marketing game – and they can learn the most relevant lessons on protein marketing best-practice from their rivals, the soy protein industry. The soy industry got its marketing act together many years ago – and as a result it still presents formidable competition.
What strategy could you propose to management that they will like the most – but which has, at best, only a 50-50 chance of success? The answer: brand extension. The reason: because executives believe it’s a low-risk strategy. The reality: in the healthy/functional food sector it’s at least as risky as launching a new brand. In fact: it may be the worst strategy you can choose – as many otherwise very successful brands have found to their cost.
A new brand that’s rocketed from zero to £44-million in sales within three years and is helping redefine a category, and an old brand that has found growth by using an approved health claim to connect to one of the biggest consumer needs – these two cases illustrate the way the breakfast category is being redefined and provide key lessons for any company. [Click pic to enlarge]
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