Product Development Specialist
At MegaFood, our mission is to nourish a world in nutritional crisis by producing the highest quality supplements made with farm fresh whole foods. MegaFood is a proud Certified B Corporation, meeting rigorous standards of social and environmental performance and a driver of change in the creation of meaningful jobs, the improvement of lives, and the application of best business practices. We are always looking for people who are passionate about our mission to join our growing team!
PRIMARY PURPOSE AND FUNCTIONS:
The Product Development Specialist, reports to the Director of Product Strategy and a key member of our New Product Development team. The Product Development Specialist will conduct proprietary market research, overall analysis of market, category, competitive environment, trends and a consumer-centric view and application of MegaFood nutrients and supplements. Works cross-functionally to create business cases, project scopes and critical new product documentations following our stage gate process with accountability through our Project Management team.
ESSENTIAL FUNCTIONS AND RESPONSIBILITIES:
- Research and develop new product concepts and business cases to support 18 month pipeline and brand strategic plans.
- Take the lead on product renovations that require new ingredient(s) and/or formulations as an introduction to MegaFood nutrients and formula approaches. Content development and claim substantiation for new products and associated labelling. Collaborate with R&D and marketing teams to ensure new products/ingredients meet brand pillars and quality requirements from ideation to finished product.
- Manage and track KPIs for new product performance against business case. Conduct post-launch autopsy to evaluate/improve internal processes, product experience, forecast accuracy, quality and overall market response. KPI monthly tracking for the first 18 months of a product life and generate reports for monthly MegaFood leadership meetings.
- Lead in generating all preliminary and working forecasts to support business cases and operational commercialization.
- Quarterly evaluation and reporting of product sales to identify where products/category performance is relative to market place and product life cycle.
KNOWLEDGE, SKILLS AND EXPERIENCE:
- Natural products industry experience with speciality in dietary supplements, nutraceuticals or functional foods is preferred.
- Experience in product development or new product marketing plan/execution.
- An understanding of best practices in labeling and marketing of supplements is preferred.
- Established track record and proficiency in bringing new products to market.
- Understands the concepts and what it takes to bring a product to market
- Strong verbal communication, analytical and writing skills.
- Project management and proven ability to oversee and execute on several projects concurrently.
- Proficient in qualitative and quantitative analysis of product sales, market trends and consumer preferences.
- Requires a Bachelor's degree in a related major.
- 2-3 years experience in product development ideation, concept development and business case rationale for consumer packaged goods, preferably in the realm of health and wellness.
What We Offer You:
We aspire to nurture a culture of inclusion that enables and encourages all of our employees to thrive. Here are a few ways we do that:
- Eligibility for our benefits on your first day of employment
- Paid time off to pursue your passion through our volunteer program
- Annual wellness reimbursement, fitness challenges, free chair massages, and lots more to keep you healthy!
- Generous time off programs including vacation and personal time and paid parental leave
- Opportunity to work with passionate people, who care about our mission and each other!