SAN FRANCISCO, Sept. 19, 2007 (PRIME NEWSWIRE) -- The ability to listen to the consumer, create new products and deliver them to the marketplace is enabling Tyson Foods, Inc. (NYSE:TSN) to remain at the forefront of product innovation in the food industry, a company executive said today at the Bank of America's 37th Annual Investor Conference.
"For Tyson to continue to be successful, we must discover and sell market-leading products and services to grow our brand equity and help our customers succeed through joint value creation," said Scott McNair, group vice president of Consumer Products.
One way Tyson is achieving this objective is through the new Tyson Discovery Center(tm), a research and development facility designed to enhance the company's ability to collaborate with customers to create new foods and bring them to market more quickly. The facility includes 19 research kitchens and a multi-protein USDA-inspected pilot production plant.
"From ideation to consumer testing and panel studies, the Discovery Center enables us to collect consumer feedback quicker than ever before," McNair said. He also noted that, in the past six months, almost all of the company's major customers, including some of their senior executives, have spent time in the facility, gaining first hand knowledge about its unique capabilities.
In early September POULTRY magazine announced Tyson has been selected to receive the publication's 2007 Industry Innovator Award for "its outstanding achievements in product development." According to the magazine, the Tyson Discovery Center(tm) "reflects the emerging intersection of food science and culinary arts, offers an original way to serve its customers, and creates new processes that raise the culinary and scientific standard for the entire poultry industry."
An example of Tyson's efforts to meet consumer needs is the company's new 100% All Natural(tm), Raised Without Antibiotics chicken, introduced in June. The new product line, which includes all Tyson(r) brand fresh chicken, helped boost the company's fresh chicken volume by almost 35 million pounds on an annualized basis.
Tyson also recently introduced a new retail line of restaurant-style frozen snacks called Tyson(r) Any'tizers(tm), which can be consumed as appetizers but can also be used for almost any eating occasion. Product examples include Buffalo Style Boneless Chicken Wyngs(tm), Cheddar & Jalapeno Chicken Bites, Homestyle Chicken Fries and Popcorn Chicken.
"We've experienced tremendous customer support, with many of the nation's leading retailers placing orders for the product within the first 60 days," according to McNair. "This has been one of the most successful product launches ever for Tyson and, in fact, would be considered exceptional at any consumer products goods company. Adding to the excitement is the selection of Olympic gold medalist Mary Lou Retton as spokesperson for this new line of products."
Tyson also continues to work with supermarket delis, club stores and convenience stores to bring restaurant quality meals to consumers. For example, the company is adding value by offering rotisserie chicken as well as fried and baked chicken from birds raised without antibiotics. In addition, Tyson is helping retailers drive product velocity in rotisserie though alternative products such as Tyson(r) Rotisserie Pork Loin.
Effectively communicating the scope and benefits of Tyson's products also remains a key to the company's success, according to McNair. To help consumers be recognized as "mealtime heroes," Tyson has launched a new $70 million advertising and promotion plan titled "Thank You, Mom." The campaign communicates to consumers in a fun, engaging way how Tyson products help make "Mom" a hero at mealtime.
The marketing plan includes TV and radio advertising, plus strong consumer promotions to drive new and repeat purchases. The media will target general audiences, as well as the growing Hispanic and African American markets.
Tyson Foods, Inc. (NYSE:TSN), founded in 1935 with headquarters in Springdale, Arkansas, is the world's largest processor and marketer of chicken, beef, and pork, the second-largest food production company in the Fortune 500 and a member of the S&P 500. The company produces a wide variety of protein-based and prepared food products and is the recognized market leader in the retail and foodservice markets it serves. Tyson provides products and service to customers throughout the United States and more than 80 countries. The company has approximately 104,000 Team Members employed at more than 300 facilities and offices in the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson strives to operate with integrity and trust and is committed to creating value for its shareholders, customers and Team Members. The company also strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.
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