A assignment for conceptualising new product to pricing, finding target markets,developing cost sheet, launching in market .

1. Multipurpose space
saving storage.
Flying Pods

2. Target Market-
 Target Area : Metropolitan cities in India
 Delhi
 Mumbai
 Pune

3. Target Customers
Urban Middle Class and Lower Middle Class
families.
Categories
Households
Grocery Stores
Malls

4. Positioning Strategy- anki
• Positioning refers to the place that a brand
occupies in the mind of the customer and how
it is distinguished from products from
competitors. ... Primarily, it is about "the place
a brand occupies in the mind of its target
audience".

5. How we wish to position flying
pods
Since our product is new in the market we focus
on solving the problem of space in a city like
Mumbai , Pune, Delhi etc where there are a lot
of space constraints.

6. Our Positioning Statement
• For people who have space constraints Flying
pods is a storage tool that helps you store
more in limited space. Unlike, other hanging
storage that are made for a single use Flying
pot is a multi utility product that can be placed
where ever you need it.

7. Channel Strategy – Agam to add
• Direct to End Users, Sell Through a Dealer
Network and Selling Through a VAR (Value
Added Seller)
• Tying a Knot with Offline Market Players
• Major focus on Online Selling Channel
• Affiliate Marketing
• Social Media Channel

8. Cost Sheet

9. Cost Sheet

10. Analysis of Cost Sheet
 The company is producing 100000units of FP for the first 3
months at the rate of Rs. 100 for which we are incurring the total
cost of Rs. 10,00,000 and the total sales of Rs. 15,00,000which
implies that we are having the profit of Rs. 5,00,000.
 The company is producing a single unit of FP at the rate of Rs.
150 which includes the cost of product as Rs. 100 which again
implies that the profit of Rs. 50 is gained on the single unit of
chocolate.
 Since the company is earning good percentage of profit above the
cost it means decreasing cost after 3 months can be the favorable
condition for the company.
 Since the company is earning some amount of profit so our
business is a feasible to launch over.

11. 5 Imp things to consider before
setting a Price- Harsh
1. Cost
Where P = price and C = cost:
Gross Profit Margin Target = (P-C)/P
2. Customers
If your product provides a function that they can’t live without, a
higher price point will not deter them. For example, smartphones
have become such a critical staple for millennials that even a high
price tag will not keep them from purchasing a new one every few
years.

12. 5 Imp things to consider before
setting a Price
3. Competition
Our product “flying Pods” clearly provides more value than the
competition, a higher price point will help indicate to our audience
that it’s a superior product.
4. Odd Number Pricing
Psychological Pricing of why people tend to buy a watch priced at 99
rupees than 100 rupees.
5. Geographical Locagtion.

13. Pricing Strategy
 1. Pricing at a Premium(Preffered)
 With premium pricing for our Product Flying Pods we can set costs
higher than other new products coming in the market. Premium
pricing is often most effective in the early days of a product’s life
cycle, and ideal for small businesses that sell unique goods.
 Because customers need to perceive products as being worth the
higher price tag, a business must work hard to create a value
perception. Along with creating a high-quality product, as owners
we should ensure our marketing efforts, the product’s packaging
to support the premium price.

14.  Penetration Strategy : Lowering the Prices to penetrate into the
market.
 Economy Pricing : Reducing costs. Effective with Walmart not
suitable for our Product.
 Price Skimming (Preffered) :Designed to help businesses
maximize sales on new products and services, price
skimming involves setting rates high during the introductory
phase. The company then lowers prices gradually as competitor
goods appear on the market.
 Psychological Pricing.

15. Promotion Strategy for our
Product- Rajshree
What is Promotion ?
 Promotion is the element in an organisation’s marketing mix that
serves to inform, persuade and remind the market about the
organisation and/or its products.

16.  Personal selling: the presentation of a product to a prospective
customer by a firm’s sales executive.
 Advertising: paid, non-personal mass communication, in which the
sponsor is clearly identified.
 Public relations: a planned communication effort by an
organisation to contribute to generally favourable attitudes and
opinions toward an organisation and its products.
The Promotional Mix

17.  Marketers need to identify whom they are trying to
influence.
 Determine customer’s readiness to buy.
 Awareness
 Knowledge
 Liking
 Preference
 Conviction
 Purchase
Reaching The Target Market

18.  Unit value of the product.
 Amount of product customisation.
 Amount of pre-sale and post-sale service
required.
Nature of The Product

19. Choosing the right
sales promotion
 What are our promotional objectives?
 Who is our target market?
 Can our product be sampled?
 What will it cost to use the right promotional
tool?
 What is the current economic condition?

20.  P.R. can be achieved by:
 Supporting charitable projects
 Supplying volunteers or other resources
 Participating in community-service events
 Sponsorship
 Providing information to customers via newsletters.
Managing Public Relations and
Publicity

21. Media characteristics
 Newspapers
 Television
 Radio
 Magazines
 Direct Mail
 Outdoor advertising
 Yellow pages
 Internet

22. Thank You