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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
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Friday, July 25, 2008
Product Evaluations, Inc. and IFMA Announce Second Webinar in Series Examining Best Practices in Innovation Process
Comtex
LAGRANGE, Ill., Jul 25, 2008 (BUSINESS WIRE) ----Product Evaluations, Inc. and the International Foodservice Manufacturers Association (IFMA) will hold the second Webinar in their ongoing Best Practices in Innovation Series on August 21, 2008, at 4 p.m. (EDT) to discuss "Identifying and Developing Winning New Product Concepts."
In this Webinar, Sara Tucker, Research Manager of Product Evaluations, Inc., will offer an in-depth look at how innovation teams can maximize the success of their product innovation process by effectively identifying and building winning new product concepts. Specific topics covered will include:
-- Stages and tools for concept development and refinement
-- Best practices in creating and writing concept statements
-- Concept testing options
-- The top 5 mistakes companies make when creating product concepts
"Our research indicates that approximately 39% of all new products in foodservice fail within two years," says Sara Tucker, Research Manager of Product Evaluations, Inc. "By focusing on best practices of concept development, this Webinar will help innovation teams effectively lay the groundwork for a more successful new product development process and, in turn, a more successful new product launch."
This IFMA-sponsored Webinar is presented at no cost to attendees, but space is limited. Advance registration is required. For more information, or to register, visit www.productevaluations.com or call 708-482-7750.
About Product Evaluations Inc.:
Product Evaluations, Inc. is a leading strategic marketing research firm that specializes in new and existing products for the foodservice industry. Since 1971, Product Evaluations has been helping food-away-from-home partners successfully build their businesses through opportunity identification, new product development and improved product/brand performance.
To support new product development innovation, Product Evaluations, Inc. has developed Success MetriX(TM). This revolutionary system helps to strengthen the innovation process by significantly improving product success rates with customizable state gates at all key points of development: idea generation (Idea MetriX(TM)), concept development and testing (Concept MetriX(TM)), product development and testing (Product MetriX(TM)), and new product launch with customer feedback (Launch MetriX(TM)).
About the International Foodservice Manufacturers Association (IFMA):
IFMA is a leading trade association comprising more than 400 of the world's most prestigious food, equipment and supply manufacturers in the $632 billion foodservice industry, as well as related marketing service organizations, foodservice trade publications, distributors and brokers. IFMA's mission is to shape the future of foodservice by creating an environment for positive change and actionable solutions benefiting manufacturers and their foodservice channel partners. IFMA is a broad-based, total-industry association whose core values focus on innovation through products and technology; forecasting and facilitating through research, education and events; marketing and sales solutions through customer relations and initiatives; and alliances and customer alignment through foodservice trade organizations and supplychain partners.
SOURCE: Product Evaluations, Inc.
Product Evaluations, Inc. Andrea Bilotti, 708-482-7750, ext. 319 abilotti@productevaluations.com
Copyright Business Wire 2008
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