Np Project Deliverable


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Np Project Deliverable

  1. 1. New Product<br />Project<br />Deliverable<br />1<br />
  2. 2. Description of the New Product Idea<br />A 1-paragraph verbal description of your “finalized” new product idea. <br />
  3. 3. Trends & Unmet Consumer Needs<br />Trends affecting the industry & unmet consumer needs, with the implications for your new product idea (attach articles you found in your research & any interesting & relevant new product examples). Use these to support why your new product idea makes sense to introduce now.<br />
  4. 4. Industry Analysis<br /><ul><li>Product life cycle stage
  5. 5. Mature, growing, nascent
  6. 6. Industry size & growth rate
  7. 7. Competitive strategies & actions vis-à-vis new products</li></li></ul><li>A Market Structure Chart<br />Show the key market segments <br />in your category & where your new product will fall in the structure. Indicate which are the highest growth segments. <br />
  8. 8.
  9. 9.
  10. 10. Perceptual Maps<br />3 perceptual maps that show on an XY axis, the key attributes consumers of the category value most, & how your product will have a meaningful point of difference vs. its competitors.<br />
  11. 11.
  12. 12. Hypothetical Perceptual Map<br />This Does Not Reflect the Thinking of Apple<br />
  13. 13. Gentleness<br />Optimal<br />Place to be<br />Tylenol<br />Bufferin<br />Advil<br />Nuprin<br />Excedrin<br />Bayer<br />Private-<br />Label<br />aspirin<br />Effectiveness<br />Anacin<br />Optimal Place to Be<br /> Perceptual Map of Pain Relievers<br />
  14. 14. Concept Board(s)<br />Pre & Post Consumer Research<br />
  15. 15. The Ideal Concept Board<br />
  16. 16. Pre & Post Qualitative<br />Testing Concept Boards<br />Submit the concept board you showed consumers & a final board with the changes you made based on their feedback. <br />
  17. 17. Marketing Research Key Findings<br />Summarize the reaction of consumers to your idea, what you learned from the qualitative research, & how you decided to adapt your product as a result.<br />
  18. 18. Product Line Description<br />Describe:<br /><ul><li> The product & it’s key attributes or features
  19. 19. The items in your line
  20. 20. What % of the total volume each item is expected to contribute.</li></li></ul><li>Brand Positioning & Rationale<br /><ul><li> Provide a 1-sentence brand positioning statement with rationale as to why you picked the target audience, competitive frame, point(s) of difference & end benefit.
  21. 21. Will you add more targets over time: Which & when?</li></li></ul><li>For Each Major Brand, a<br />Brand Positioning Statement<br />Target Audience<br />Frame of Reference<br />Point of Difference <br />End Benefit<br />Example<br />To target audience, brand X is the frame of reference/competitive set that point of difference which is good because end benefit.<br />(Should include the rationale for each element)<br />
  22. 22. Samsung’s Jitterbug<br />To Seniors, (Target)<br />Samsung’s Jitterbug is the cell phone (FOR)<br />That has a large display & big buttons (POD)<br />Which is good because it will be easier to see & you won’t need to put on your glasses. (End Benefit)<br />
  23. 23. The DisneyPhone<br />To parents of young girls,<br />the Disney phone is the means of communication between you & your daughter, that your child will want to carry, which is good because now you can always reach them.<br />To little girls, The Disney phone is the cell phone that’s pretty & has one of your favorite characters which is good because now you can call your friends or your parents when ever you want. <br />
  24. 24. Brand Positioning<br />
  25. 25. Volume Forecast<br />Provide a volume forecast for years 1-5, using the BASES model or a “bottom up” approach. Use your best guess & include the key assumptions of your forecast.<br />
  26. 26. New Product Total Volume Forecast<br />Trial Volume<br /># of Households in Target Population<br />Trial Rate<br />Average Trial Units Per Purchase<br />X<br />X<br />+<br />Repeat Volume <br /># of Trying Households<br />Repeat Rate<br />Repeat Purchases Per Repeater<br />Average Repeat Units Per Purchase<br />X<br />X<br />X<br />
  27. 27. BASES Type Test Results<br />Project quantitative research results that will serve as the basis for your volume forecast & sources of volume. <br /><ul><li>What trial rate will you have?
  28. 28. What repeat purchase rate?
  29. 29. Average number of repeats/yr
  30. 30. Average amount per purchase occasion
  31. 31. Whatwill consumers be switching from to purchase your product or service?</li></li></ul><li>Packaging, Branding, Name<br /><ul><li> If using a package or brochure, describe the package & ideally show an example with the key visual & communication elements.
  32. 32. Provide your branding/naming recommendation, any name subheads, branding/name rationale & relation to other items under same trademark.</li></li></ul><li>Pricing Recommendation<br /><ul><li> Provide a pricing recommendation relative to competition, other items in the trademark & the brand’s overall positioning & strategy:
  33. 33. Is it a premium or value brand?
  34. 34. Is it price skimming or going for maximum penetration & share as fast as possible?</li></li></ul><li>Geography, Test Market & Roll-Out<br /><ul><li>Do you plan to test market the brand? If so, what type of test market & for how long?
  35. 35. What will be the phasing of the roll-out/sequence/timing?
  36. 36. What will be your high opportunity markets, where you will market the product most aggressively & why?</li></li></ul><li>Marketing for the Polish bank will be done in markets with the highest concentrations of Polish immigrants such as:<br />- Birmingham<br />- Liverpool<br />- Edinburgh<br />- Manchester<br />
  37. 37. Seasonality<br /><ul><li> Create a monthly seasonality index based on when you think the product would sell most & least.
  38. 38. When will the product be introduced, in light of category seasonality & company’s fiscal year?</li></li></ul><li>Seasonality Index<br />% of brand’s business in month<br />8.5%<br />JFMAMJJASOND<br /> 85 70 80 110 160 135 110 85 50 45 90 61<br />
  39. 39. Distribution<br /><ul><li>In which channels will the product be sold?
  40. 40. Provide the % of volume from each channel & whether you will add new channels over the 5-year timeframe.</li></li></ul><li>Overarching Creative Tagline<br />Develop a memorable, overarching, integrated marketing message or tagline that describes the brand’s key point of difference & will be communicated in all marketing elements.<br />
  41. 41. OverarchingCreative Idea<br />Because there’s so much resting on your tires<br />When it absolutely has to get there overnight<br />You deserve<br /> a break today<br />Because you’re worth it!<br />
  42. 42. Launch Marketing Ideas & <br />Integrated Marketing Flowchart<br />Provide Year 1 & “ongoing” marketing budgets for the P&L.<br />Provide launch marketing ideas to create awareness & repeat purchase for the new product.<br />Create an integrated marketing flowchart to show the key marketing activities. <br />
  43. 43. Optional<br />Iced Tea Brand<br />
  44. 44. Projected 5-YearCash Flow Statement<br />Yr 0Yr 1Yr 2Yr 3Yr 4Yr 5<br />Sales Revenue 0 $11,889 $15,318 $19,654 $28,253 $32,491<br />Cost of Goods<br />Gross Margin<br />Development costs<br />Marketing costs<br />Allocated overhead<br />Net operating income<br />Impact of cannibalization<br />Net contribution <br />Discounted contribution -3,500 -1,113 1,6911,8772,343 2,346<br />Cumulative discounted cash flow -3,500 -4,613 -2,922 -1,045 1,298 3,644 <br />Breakeven X<br />Payback X<br />Make some assumptions but don’t agonize over it! <br />
  45. 45. Sensitivity Analysis/Risks & Hedges <br />What could go right to make your new product even more successful<br />What could go wrong that would cause the product to perform worse than projected?<br />