New Product Development

1. Presentation of Cost Accounting
Department: Bachelors of Business Administration
Section: B

2. Introduction
• Our Product
• Brief Description about Our Product
– Material
– Shapes
– Sizes
– Colors
• Reasons of choosing
• Innovations

3. Marketing Mix
Marketing Mix Details
Place Our targeted market is the market is Vmall and Sadar
Cantt Sialkot.
Products The product which we are offering to our targeted market
is Handmade Yarn String Lampshads.
Price We are willing to set a moderate price for our products
and to make it affordable for every class. The price of one
piece is Rs. 500 only.
Promotion We use online promotions on facebook, instagram, twitter
and eBay for our international customers. .

4. Market Place
• Present Plans
• Future Plans

5. Marketing Strategies
ebay Post

6. Cont…
Twitter
Marketing
Instagram
Marketing

7. SWOT Analysis
Strengths
1. Unique
2. Handmade
3. Multipurpose
4. Affordable prices
5. Contains fairy lights, low energy
consumption
6. Available in different shapes, sizes and
colors according to customer’s demands
and requirements.
Weaknesses
1. No warrantee
2. Safety hazards
3. Strings can wear off after extensive
usage.
4. Simple design
Opportunities
1. More innovative ideas and changes
2. Attract buyers who are always seeking to
buy something new and different.
3. Cheaper production cost
4. Can be used for decoration on weddings
as well.
Threats
1. Limited utilization
2. Can easily be copied
3. Not child friendly
4. When hanged, can trip on a person

8. Finding & Recommendations
 Key findings are as follows:
1. Marketing:
• This initiative will allow our business to reach large
number of target groups electronically at a low cost
• Our business can expand customer base beyond
geographic areas where stores are currently located
• The marketplace for online sales is in a steady state of
growth

9. Cont…
2. Technology:
• Will utilize existing technology which lowers
project risk
• Ecommerce infrastructure will be contracted
out to vendor which allows our business to
share risk
• Once in place this technology is simple to
operate and maintain for a relatively low cost

10. Cont…
3.Organizational:
• Minimal increases to staffing are required with no
changes to organizational structure
• No new facilities or capital investments are
required
4.Financial:
• Our business will be in position to capture greater
market share by maintaining both an in-store and
online presence

11. Conclusions