Page 66 - FoodFocusThailand No.186 September 2021

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Concepts for the Designing of

Investor- and Consumer-oriented

Product Development Strategies

In the current era of boundless marketing, the food industry’s potential for continuous growth derives from
adopting concepts that are in sync with customer’s values. The development of food products is an art form
based on logical principles. Therefore, the heart of product development lies in the ability to see the big picture
that encompasses multiple converging factors, such as happiness during consumption, functionality in line
with practical usability, circumstantial flexibility, time period, location, target customer group’s identity, or new
inspiration. Product development strategies should thus gravitate toward creating uniqueness to satisfy a niche
group or the focus on cost competitiveness intended for a general market, Asst. Prof. Chutima Waisarayutt
Associate Dean of Corporate Relationship. Faculty of Agro-Industry, Kasetsart University, and Asst. Prof.
Apichaya Lilavanichakul, Lecturer of Agro-Innovation Program Faculty of Agro-Industry, Kasetsart University,
share ideas.

To Innovate Is to Question: How to Reach and discovering ever-changing issues, corresponding solutions, trials, and
Understand Consumers? adjustments. An innovator should possess an enabling attitude to
According to Asst. Prof. Chutima Waisarayutt, consumers have different enjoy trials and errors and mature along the journey of earning
rationales and buying decisions because they are influenced by consumer’s trust. They should also view obstacles as an opportunity
distinctive personal experiences, daily lifestyles, social environments, to concoct a creative solution that will give birth to a new value based
technological accessibility, and purchasing powers. Such elements shape on a different perspective and use the business growth to reflect a
each individual’s unique perception towards values, issues, and design-based value proposition that corresponds with the target client
conceptualization of happiness. Innovation is a guiding concept that group’s value.
stems from a design-based thinking process. The help of a compatible
technology will lead to a creatively formulated solution, which will Tools for the Search of Innovation Issues
eventually be manifested in the form of a final product or service. Asst. Prof. Apichaya Lilavanichakul added that a business could
Innovation relies on business models and plans to generate impact. A better understand its customers by exploring the target community,
person capable of adopting such a cognitive process can, as a result, giving a persona name that reflects the group’s characteristics and
ensure uniqueness and advantages in business competition through values, and learning about the right mood and feel. The design of
“innovation” and information technology to improve the accuracy of their innovative tools for the exploration of the target community can be
marketing activities. formulated in quantitative marketing research as well as insight and
Innovation, explained Asst. Prof. Waisarayutt, is a thinking process qualitative behavioral research via online channels. The data extracted
that results from the harmonious synchronization between the 3 following from social media platforms is analyzed in conjunction with the
factors: engagement in a direct conversation with a customer. The following
1. The ability to identify the point of values (POVs) that align with AEIOU topics can be employed in combination with the observation
customer’s happiness, memorable experiences, and problem sources. of externalized behavior, speech, and emotion during a conversation
2. The ability to invent or gain access to enabling technologies. about the interlocutor’s daily life:
3. The ability to devise a business model with scalable revenues • Activity: daily activities, spare time, hobbies, time management,
and incremental costs that constantly create and satisfy new demand. means of transport, habitual buying behavior, and leisure activities.
The fun and excitement of innovation lie in searching for and • Environment or surrounding social groups: family, friends,
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