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Report on launching of new product


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Report on launching of new product

  2. 2. National College Of Computer SciencesTopic: Report On Launching Of New Juice RefreshSubmitted To: Mem mehvish,Submitted by:Name: Muhammed mehmood.Roll #: B1002Semester: 2ndSession: 2012-15Date: 27-09-2012 UNIVERSITY OF SOUTH ASIA Rahim Yar Khan Campus
  3. 3. Contents of Marketing PlanPart 1: DedicationPart 2: AcknowledgementPart 3: Executive summaryPart 4: Introduction a) Vision statement b) Mission statement c) Company d) ProductPart 5: Analysis a) Current market situation b) Objectives c) SWOT analysis d) Market survey e) Marketing strategy f) Basis of segmentation g) Targeting h) Marketing mixPart 6: implementation and control a) Budgeting b) Action programsPart 7: Annexes’ a) Customer feedback survey
  4. 4. Respected Sir, I am pleased to submit my report on the launching of new juice“Refresh” to you. I have tried my best to come up to your mark byproviding unique ideas and elegant presentation. I am thankful to you forgiving me an opportunity to survey, analyze and enhance myknowledge.
  5. 5. Acknowledgement: A work is never a work of an individual. I owe a sense ofgratitude to the intelligence and co-operation of those people whohad been so easy to let me understand what I needed from time totime for completion of this exclusive project. I want to express my special gratitude towards Mr. AbdulGhafoor lecturer, Marketing Management, for giving us such aunique project. Last but not the least I would like to forward my gratitude to allthe people who always endured me and stood by me and withoutwhom I could not have been envisaged the completion of myproject.
  6. 6. Executive summary: This report explains the marketing plan for launching a fresh juice named Refresh. This product have been made by FJ Beverages and is approved from the Ministry Of Health. In the very beginning of the report I explained the vision and mission statement of the company and I have further carried out. It will be introduced in the market with the help of various promotional displays and advertisement and distribution of the samples to the general public. This report examines that this product is initially launches in Rahim Yar Khan’s domestic market. The study includes both primary and secondary research. The primary study focus on survey of the competitors and the likings and disliking of people. Through this strategy company can penetrate in the market and can attract bulk of customers. For this purpose I have conducted SWOT analysis of the company to see company’s strengths, weaknesses, opportunities and threats. Then I have explained the purposes, benefits, and objectives of the product. Then I have make the marketing mix strategy of my product. I have divided market into different segments and decide to target kids, youngsters, mature and old age persons. I have also paid special attention to the packaging, color, and price of the product, I have decide to place my product in the Rahim Yar Khan market, especially canteens of schools, colleges, and universities. I will promote my product through electronic media, cable, and outdoor sources. I have also conducted customer feedback survey to know the opinion of public about my product. So that I can develop it accordingly.
  7. 7. INTRODUCTION TO THE FJBEVERAGESCompany’s vision statement:“Be the leader in the customer value”Company’s mission statement:“To set world class standard in the juice industry through providing adiverse range of high quality juice products that are prepared. Inaccordance with the Islamic principles striving to satisfy consumers’ tasksand needs and serving the society.”THE FJ BEVERAGES BUSINESS INRAHIM YAR KHAN: FJ Beverages will commence its business in Rahim Yar Khan from October2012. The factory facility has been founded on 2o canal area of land in theIndustrial Area of the city. The factory is expected to match the demands of the product. Wee haveensured the installation of modern, sophisticated and efficient equipmentconforming to the very latest standards of “Goods Manufacturing Practices”.
  8. 8. INTRODUCTION TO “REFRESH” People started to perished under the scorching heat of summer in our country. They need an energy drink to refresh themselves. The Refresh is a fresh juice product. It provides energy and keeps fresh when people feel weak or tired from doing work. It contains vitamins and proteins which is a useful energy source. Vitamins give freshness and proteins are the energy cells that recharge the human body, so that they work their maximum. The students, employees and workers become tired due to the workers become tired due to the work burden and sunlight which make them feel loose. They need an enrgy drink that makes them re energize so they may be able to perform better again and feel fresh. Slogan: “The taste you desire” Ingredients are:  Mango, orange, apple and mixed  Sugar  Ascorbic acid  Stabilizer  Preservative  Artificial flavor  Beta carotene
  9. 9. Current Market Situation: Refresh is a fresh juice product that is going to be introduced in the domestic market of Rahim Yar Khan. We are focusing to all levels of generation. The kids, youth, old and over all families. The price of the
  10. 10. Refresh of moderate, because it is for everyone in the market. Objectives: Following are some of the objectives of the company;  To increase the 25% market share  To increase the length of product line i.e. its five now, we should increase it to 6 or 7 soon.  To increase profits  To face strong competitors i.e. like Shezan and Nestle SWOT Analysis: Strength Weakness Opportunity ThreatStrengths:  Updated technology plant  Quality product  Specialists available for specialized jobs and tasks  Hire experienced staff  Medical insurance of employees  Pakistani made  Targeted to low and middle class people
  11. 11.  Reasonable price  Expiry date above 6 monthsWeaknesses:  New in juice industry  Small distribution network  Strong competitor  No market share  Limited experience of customersOpportunities:  Increase the distribution network  Acquiring the newer technology and techniques  Market is very big and attractive  Takeover of the distributionThreats:  Political instability  New entrance from the competitors  So many competitors  Retaining consumers  Economic instability  Increase of general sales tax  Development of plant
  12. 12. Our Competitors: The Refresh is currently facing a competitive environment. Because thecompetitors of Refresh are:  Shezan  Country  Nestle Product review: The Refresh is available in 250ml size and available in different flavours like:  Mango  Orange  Apple  Pineapple  Mix fruit Competitive Review: Refresh Competitor: The competitors of Refresh are more than 5. Nestle and Shezan are leadingmarket right now and other are far away from it. Nestle and Shezan have loyal customers over the years because they are very oldand customers are aware of their merits and demerits. The company’s first purposeis to compete with the competitors having large market share.The main competitors are; 
  13. 13.  SHEZANProduct:All Pure juice is a product by Shezan International Ltd.Qualities:  High quality availability  Large range of flavors  Standardized and attractive packing  Large promotion and market coverage  Available in various weights packingPrice: Minimum price of juice is Rs. 15Place:
  14. 14. Shezan has a 35% market share in Pakistan.Promotion:They promote their product through  Electronic media  Print media  FM radio  Sales promotion NESTLEProduct:Nestle Fruita Vitals is a product by Nestle International. Quality:  Large promotions and market coverage  Large range of flavors  High availability
  15. 15. Price: Minimum price of juice is Rs.20Promotion: They promote their product through  Electronic media  Print media  Sales promotionPlace:Nestle has a 45% market share in Pakistan. Marketing strategy: The marketing strategy is based on positioning of the product in the mind ofconsumers.  Providing high quality juice to the customers  We will distribute our product on mass level to that we can maximize the profitability Positioning strategies: We want to put an image of our product in the consumers mind as compare tocompetitor’s product. We want to target the high school, college and graduatestudents and government sectors that have to work hard and need to “Refresh”them is an instant.
  16. 16. Market Segmentation: Refresh will have market segmentation on two basis;  Geographical segmentation  Demographic segmentationGeographical segmentation: The Refresh geographic target area is Rahim Yar Khan. Supplying product to all areas of Rahim Yar Khan, and have further divided the city into five zones.  Zone A: Gulshan-e-usman  Zone B: Gulshan-e-iqbal  Zone C: Church road  Zone D: Shahi road  Zone E: Jinnah Park
  17. 17. Demographic segmentation:Demographic segmentation is done on the basis of;  Age  Gender  Income occupation  Education  Lifestyles  Social classes  Family size
  18. 18. Market Targeting:Steps involve in it are; 1) Evaluate market segments: The segments have been selected need to be evaluated properly. For this three points are considered that are:  Segment size and growth: it needs to consider the geographic and demographic segments company has selected for introducing juice, the size of the segment where the juice is going to be launched and its growth.  Segment structural attractiveness: it involves power of the buyers of the juice, suppliers of the juice and its availability in the segment  Company’s objectives and resources: targeting should be done in a way so that the company can achieve its targets with the resources it have 2) Selecting segments: the segments selected by the company for juice are:  Undifferentiated  Niche (concentrated)Targeting: Company will target following customers:  Kids  Youth  Mature
  19. 19.  YoungstersMarketing mix:  Product  Price  Promotion  Place Product strategy:  Develop the long term relationship with the customers  Give values to the customers to delighting them  Do whatever it takes not to satisfy the customers but retain our customers In order to accomplish this objective the company has established sales, marketing and support terms Product variety: Our product would be available in following flavors:  Mango  Apple  Orange  Grapes  Mix fruit Brand name:The name which we have chosen for our product is “Refresh” Quality:High quality assurance would be our first priority. This would be ensured by:
  20. 20.  Implementing high quality standards  Total quality management  Acquisition of the high quality raw material Design:“Refresh” is a sweet, refreshing juice with an eye catching Tetra pack. Features:Here are some features of our product:  Fresh original fruit juice  Provides proteins and minerals  Provides vitamins  Beneficial for kidneys  Excellent in taste  Give freshness  Tetra pack protection packing Packaging: Product units are packed in 6-layerad Tetra Pack Brick Aseptic Pricing strategies: Our pricing strategies for the product are for total cost which includes customsservices and other expenses. Pricing strategies usually changes as the productpasses through its life cycle. The price should be set at moderate level in order toattract a large number of buyers and to gain large market share.Amount in Pak Rupees:The total per unit price for 250 ml packs that we will offer as follow:  The cost of fruits Rs.3  Electricity Rs.2  Factory overhead Rs.3
  21. 21.  Miscellaneous Rs.2  Retailer margin Rs.2  Profit Rs.3  Total price Rs.15 In accordance to our strategy we have decided to offer the product to thecustomers at the price of Rs.15.The price is very much compatible and the offer issubstantial enough to attract a large percentage of market in very quick time. Current Product New ProductCurrentMarket Market Penetration Strategy Product Development StrategyNewMarket Market Development Diversification Strategy strategy According to this grid we are introducing new product in current market so wefollow Product Development Strategy.Communication strategies:Promotion:
  22. 22. Actually the promotion is a first step when we are launching a new product but wemake its strategies in last. We want to make a good product image in mind ofcustomers, so that they will buy only our product. Criteria promotion:a) Awarenessb) Knowledgec) Likingd) Preferencee) Purchasing Main Source Of Promotion: I. Electronic media II. Print media III. Cable network IV. Bill boards V. Hoardings Electronic media Channels Time Duration Total Geo Tv Prime Time,Post 1 Min 12 15 000 Prime Time
  23. 23. AAG Tv Prime 1Min 1 80 000 Time,Early Day AAJ Tv Early Day,Prime 1Min 1 75 000 Time Hum Tv Post Prime,Pre- 1Min 2 40 000 Prime Din Tv Early 1Min 2 80 000 Time,Prime Time Total 20 90 000Print media:News paper Page Coloured Size Daily Weekly Charges&magazines or black basis basis and whiteJang Front Coloured Standard Daily 18600 sizeExpress Mid Coloured Standard Daily 5000 sizeDin Front Coloured Standard Daily 15000 sizeThe Daily Back Coloured Standard Daily 17500Times sizeNawa waqt Back Coloured Standard Daily 15000 sizeAkhbar-e- Back Coloured Full size Weekly 600 000jahan Total 683600Bill boards:Location Size Duration Total cost
  24. 24. Jugno Chowk 20*60 1 month 2 15 000Jail Road 20*60 1 month 70 000Town hall 20*60 1 month 1 15 000Club Road 20*60 1 month 1 50 000 Total 5 50 000Hoardings:Location Size Duration Total costShahi Road 30*90 1 month 12 00 00Khanpur Road 30*90 1 month 10 00 00City Centre 30*90 1 month 10 00 00 Total 32 00 00Cable:Location Time CostGulshan-e-usman 6:00to10:00 30000Gulshan-e-iqbal 4:00to8:00 10000Abbasia Town 12:00to8:00 25000Church Road 5:00to11:00 20000 Total 85000Benefits:Following are the additional benefits which are offered to the customers to givethem value: I. Give 5 rappers and get one free juice pack II. Purchases ten juice pack and get one pack freeIII. If you purchases a small crate of juice then you will able to participate in lucky draw and you can win following prizes: 1. Samsung FM Guru
  25. 25. 2. DVD system 3. Rs.5000Places:Distributors Review:To assure the availability of its product.”Refresh” juice has established effectivenetwork of registered dealers. The main target of these juice is Rahim Yar Khan. The end consumers would then purchases “Refresh” juice from retailer. Thedistributor are the most reliable distributors in the region. They enjoy a flawlessreputation combined with business relations with numerous retailers even in therural area of the Rahim Yar Khan and near sides. This has ensured that “Refresh”will be made available all over Rahim Yar Khan. MANUFACTURER CONSUMERS DISTRIBUTOR RETAILER WHOLESELLERBudgeting:Sr. No Description Amount
  26. 26. 1 Cost of land 250,00,0002 Raw material 5,00,00003 Stationery 50,0004 Office expenses 1,00,0005 Furniture 5,00,0006 Staff salaries 50,0007 Freight inward charges 60,0008 Repair and maintainance 150,0009 Research and development 90,00010 Technology 10,00,00011 Marketing media expense 6,648,630 Total 38,648,630Controls:This is the main and last element of the marketing planning by using this we cancheck our product standard by comparing it with our standards if there is anyproblem arrive in marketing plan then it must be corrected Three main function are performed under this element of planning that is: 1. Measuring 2. Comparing 3. CorrectingMeasuring: We can check our marketing condition through measuring in which differenttypes of tasks may be performed like: Survey
  27. 27. Survey for the future: In order to learn weather people would like to buy or use our product, we have decided to conduct a market survey in future so that we can assure that people likes our product or not. Comparing: In controlling process we compare our product with our standards Correcting: If any problem occurs then correcting process will take place in which wefound that from where the problem will arises.A Marketing Organization:Refresh’s chief marketing officers,holds overall responsibility for all of thecompany’s marketing activities.There are other subordinates with him to help thesales campaigns,trade and consumer sales promotion,and public relation efforts.Action programs:The Refresh will be introduced in may. Following are summaries of the actionprogram we will use during this summer session to achieve our stated objectives.Step 1: We will initiate 80,00,000 rupees trades sales promotion campaign to educatedealers and generate excitement for the product lunch and provide sample crate toour selected product reviews, opinion leaders and celebrities as part of our publicrelation strategyStep 2: We will start integrate print/display/television campaign. The campaign willshow how many features the Refresh have for user to reenergize them.Step 3:
  28. 28. As the juice advertisement continues, we will add consumer sale promotion byincluding them to our messages. We will also support or retailer to increase oursales.Step 4: We plan to roll out a new advertisement having new views of customersthrough survey who have used our drink which will help to promote our juice.
  30. 30. REFRESH JUICE FJ Beverages We hope you enjoyed the taste of Refresh! To help us better serve you, please complete this survey and return it to us at your convenience. Thank you! Very Somewhat Not Important Important Important Availability Discounts offered Packaging Price Juice RangeHow many times you take juice daily? a) 1 b) 2 c) More than 2 d) NoneWhich juice you prefer to have? a) Loose b) PackedAt which brand you rely? a) Nestle b) Shezan c) RefreshYou like juice? a) With sugar b) Without sugarWhat matters you most? a) Taste b) Quality c) PriceHow many points will you give to these products out of 10 points a) Nestle _____ b) Shezan _____ c) Refresh _____Up to how much price can you pay for a 250ml juice a) Rs. I5 b) Rs. 17 c) Rs. 18 d) Rs. 20Which flavor you like the most?Ans:Would you recommend our juice to your friends?Ans:Please rate the quality of our product a) Excellent b) Good
  31. 31. c) AverageAny suggestions:_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________