NEW PRODUCT DEVELOPEMENT IN CLOTHING

1. Stages of
New Product Development
Checkered Fashion – Shirts
(Apparel)
VAIBHAV RANDHAI

2. Stages in Product Development
Idea screening
Concept development & testing
Formulating Marketing strategy
Business analysis (Break-even analysis)
Product development
Market testing
Commercialization

3. Idea Screening
 Checkered Shirts

4. Modern Breeze of Style

5.  The use of checkered shirts is
limited.
 Rise the bar on quality
 Increase use to repositioning of
style application
GAP ANALYSIS

6. Competitors lack in
exploiting the style
and exciting
elements of a
checkered shirt

7. Concept Testing
 Quantitative Surveys (200 personal surveys)
 Quality Focus Groups (10-15 people)
 Expert interviews with the leading Fashion
Personalities
 Industry Analysis and buying pattern analysis
from market data

8. Market Opportunity
 Increase the use of Product
 Adding a refreshed style element to it
 Re-defining the use of such shirts
and thus increasing market share.
 Which makes success probability high

9. Positioning
 The Product would be sold only in Mumbai
and Pune for the first 2 years.
 Performance would be closely evaluated
 It would be a premium product
 The product would be aimed at the upper
middle class and the elite
 It is for the modern Indian man seeking
style comfort and quality, along with that
exciting and live life to the fullest
approach

10. Marketing strategy
 Shirts would be aimed at youth
and young adults
 It would be a premium product with top
quality
 Price for one unit would be 1200/-
 Aim to cover 20 % market share in 3 years
 Use Distribution network of retailing giants
like shopper stop.

11. Marketing Strategy
 Youth Icon Celebrity like Ranbir
Singh or Virat Kohli would be
endorsed
 The brand would be promoted
through extensive advertisement
 The TVC would focus on re-defining
the meaning of a checkered shirts
and how and when can they be
worn.

12. Marketing Strategy
 Outdoor Hoardings at strategic
locations would attract
Customers
 Sponsor an upcoming trending
movie and get the brand of the big
screen
 Organize a fashion event with
Mumbai’s top influencers
 Attractive Print adds in Magazines
and Newspapers

13. Business Analysis
 Company should reach break even in 3 years
and start a retail outlet chain to accelerate profits

14. Product Development
 Better quality of shirts
 More frequent Use of Shirts
 Attractive Design of shirts
 Versatile nature of Shirts

15. Market Testing
 Prototype sharing with immediate circle of
friends and relatives as primary testing.
 Free sample distribution to 500 people as
secondary testing

16. Product launch
 Launching with a big corporate event
where all fashion leaders and influencers
would be invited with the media.
 Requesting all of them to wear the brand
 Media Coverage to be used as the launch pad.

17. THANK YOU!