FlavorWiki Slashes New Product Development Costs With Digital Flavour Profiling App

Thursday, January 18th, 2018 | 1421 Views


Although pending its patent approval, the digital technology promises to refine the NPD process at a tenth of the price of conventional sensory panels.

FlavorWiki Slashes New Product Development Costs With Digital Flavour Profiling App Major food companies, professional chefs and foodies will soon be able to use FlavorWiki’s patent-pending taste and flavour app to refine their products, discover new foods and flavours, as well as provide feedback on their favourite brands and flavour combinations. The app will feature a user-friendly interface that enables consumers to ask and answer questions about their flavour preferences. The data will then be collated through a built-in algorithm and distributed to SMEs that have signed up for FlavorWiki’s service.

Such an insight into consumer taste perceptions could reduce the cost of new product development (NPD). Currently, up to 75 percent of new products fail globally each year, costing approximately $500 billion in product development, marketing and R&D costs. This research and data will help reduce these costs by providing access to consumer taste, a statistic which was previously out of reach.

CEO Daniel Protz comments: “Our key differentiator is that we don’t sell research projects, we sell subscriptions to product profiles which are gathered over the course of one, two or three years. The data is then available to the client through a web portal—what are the optimal profiles, do people like the product, are taste perceptions changing etc.”

The taste-profiling technology has already interested companies like Co-op and Migros in Switzerland as its best suited for retailers and private label ranges that have an e-commerce portal or online shopping portal. The app will act as a ‘touch point’, eliminating the need for online businesses to recruit a panel to gain insight to the market, thus saving significant costs.

 

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