Event illuminates process from concept to consumer

The event was held at the National Motorcycle Museum Exhibition Centre, Birmingham, UK from 28-29 March and welcomed 779 visitors over the two days, who took advantage of the cutting-edge information provided by the 60 exhibitors and 22 speakers. The visitors were made up of a broad range of people from across the industry and included international representatives among the largely UK-based attendees. The intention of the organisers is to develop the scope, content and profile of the event; even now plans are underway to grow the exhibition by another hall for 2013. The free seminar programme was a particular draw for visitors and covered topics such as the new Cosmetics Regulation, packaging development, and claims substantiation. Personal Care was at several of the free seminars and following is a summary of the key points raised.

New cosmetic product development

Dr Cuross Bakhtiar, Harley Street Cosmetics The seminar opened with Dr Bakhtiar offering a definition of new product development and then he looked at ways of separating good ideas from bad ideas. Firstly though, Dr Bakhtiar asked: “Why are new products necessary anyway?” New products are needed to create reliable incomes for the future, to replace declining products, to take advantage of new technology, to maintain competitive advantage, or to fill a gap in the market. Other benefits of new product development include the building and maintaining of relationships with distributors. Dr Bakhtiar remarked that it is always good to update products every couple of years and it is important for smaller companies to take the lead here as they have different sources of knowhow and can often move from concept to manufacture quicker. The seminar then moved on to the key points that determine the success or failure of a new product, including: having a clear product concept, using technically proficient production methods, ensuring sufficient marketing and advertising is in place to tempt people away from products they are currently using, good quality packaging, good timing to market, and ensuring the right price point is targeted. He then stated how important it is to be aware of both what competitors are doing and of what the customers want. Also it is important to consider whether the product fits the company’s image and sits happily with the other products currently being marketed by the company. Competitors will always be looking to undermine your product, so you need to be one step ahead by keeping up-to-date with market trends, etc. For instance, consumer analysis is suggesting that more and more people are concerned with the environmental impact of the products they use. Time is also a crucial factor. The longer it takes for a product to move from concept to manufacture, the more expensive it will be. Therefore it is vital to have a clear idea of what you want, before you set out to design it. All the departments together must be questioning what they think is going to be the next blockbuster product, or questioning how can they change a product to improve upon it. There will always be risks involved with new product development, but the highest risk will always be associated with a new product in a new market. By taking a measured, logical approach, and by being clear about what you want to achieve, it is possible to reduce the risk inherent in new product development and increase the chance of launching a successful new product.