New Product Development (Kazbrella)
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This document outlines the launch of the Kazbrella umbrella, which opens inside out unlike traditional umbrellas. Some key features of the Kazbrella include opening and closing easily, being drip free, avoiding poking people in the eyes, and not breaking easily in strong winds. It then discusses the marketing mix of product, price, place, and promotion for the Kazbrella umbrella launch.
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4. consumer skepticism – now on steroids
5. make it in america…but make it great
6. at-home incubating – it’s all the rage
7. local – the connection that matters
8. addiction to discounting can hurt a brand
9. the next consumer revolution has begun
10. from frivolity to frugality
Final AssignmentBusiness report
- Henna and Accessories Business Report for Charity Drive
- Charity to Good Samaritan Home in Klang, Selangor.
Trends in Consumer Packaging
How trends impact packaging
For more white papers and webinars, go to http://www.sldesignlounge.com
Or visit us at http://www.sld.com
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Digital Marketing Services | Techvolt Software :
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Benefits Digital Marketing Services at Techvolt software :
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2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
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New Product Development (Kazbrella)
- 1. PRODUCT LAUNCH KAZBRELLA UMBRELLA Efforts by :- MEERA SHETTY (1508) PRANAYA SHETTY (1510) D.R.SURYA PRAKASH (1512) (Marketing Management) (“Turning the umbrella world inside out”)
- 3. It may sound strange, but it’s been a long time since someone decided to reinvent the umbrella. We’ve had different materials, different fashions, and different sizes hit the market, but nothing that literally turns the umbrella upside like Aryan Umbrella Simple to open and close Opens inside out Unique in nature Easy to handle Rust proof
- 4. Breaks off due to wind Rusts due to water or weather
- 5. Easy to handle Doesn’t drip water
- 7. • Opens and closes easily in confined spaces • Avoids poking people in the eye • Drip free. • Dry to hold. • Doesn't easily break in strong wind.
- 8. KAZBRELLA Umbrella Traditional Umbrella Wind proof No Wind proof Opens inside out Doesn’t open inside out Doesn’t pokes eyes Pokes eyes Drip free Drips water Rust proof Gets rust Doesn’t break Breaks easily Price is Price is
- 9. VISION : Kazbrella umbrellas offer high-quality umbrellas used by image-sensitive people MISSION: Never again soaking wet people with broken umbrellas left lying in the street. AMBITION: The management team of Kazbrella supplies only the best umbrella.
- 10. The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand’s offer and is often associated with the 4 P’s
- 11. Our product would be offered in 100cm. It will be available in various colors such as red, blue, black, and combination colors too. The design of the product is attractive. High quality of raw materials and skilled labours are used.
- 12. Sr. no Descriptions Units Quantity 1 Mild steel sheets and strips Kg 4 2 Spring steel wires Kg 1 3 Semi-hard steel strips Kg 0.6 4 Nylon cloth Mt 16 5 Eyelets Pcs 12 6 Sewing thread Mt 45 7 Plastic granules Kg 2 8 Electro plating chemical Ltr 6 Corrugated paper box Pcs 1
- 13. In this product we are using COST PLUS PRICING strategy. price set in accordance with customers perceptions about the value of the product/service. ‘Low’ price to secure high volumes.
- 14. The price of all umbrella’s in the market are relatively same. Only the quality and the brand name leads to different price. The total cost of the umbrella is comparatively high than the existing traditional umbrellas A margin of 15% would be kept for wholesaler A margin of 25% would be kept for the retailer
- 15. Promotion refers to raising customers awareness of a product or brand, generating sales, and creating brand loyalty. Promotional mix also known as promotional plan which includes personal selling, advertising, sales promotion, direct marketing and publicity. 3 Objectives of promotion: To prevent information to customers and others To increase demand To differentiate a product
- 16. Different sources such as:- Newspaper Magazine Social networking sites Radio Television Internet Bill boards Promotional events
- 17. The place part of the marketing mix is where the customers receives the product or services. Place in case of product determines where is the product going to be located. Place is related to the distribution of the product and the main objective of the distribution is to make products available in the right time in the right quantity
- 18. 2 Types of distribution can be selected : Selling through retailers Selling through wholesalers Producer Retailer Consumers RetailerWholesalerProducer Consumers
- 19. Segmentation :- Dividing a market into a distinctive groups. Targeting :- Selecting a segment to target Positioning :- Developing a marketing strategy which the product in relation to rivals in order to appeal to target segment.
- 20. Benefit Segmentation : Focused on the product that is easily portable, doesn’t drip water after use, doesn’t rust easily. Demographic Segmentation: Segmented to all aged people and especially young aged people. Gender Segmentation: There is no differentiation of the product according to the gender, it’s a unisex umbrella. Geographic Segmentation: Segmentation is done according to the climate of a particular country. Like India we can penetrate our product between the month of Jun. & Sep.
- 21. After segmenting the market based on the different groups and classes, you will need to choose your targets. No one strategy will suit all consumer groups, so being able to develop specific strategies for your target markets is very important. Mainly: Teenagers
- 22. Positioning is developing a product and brand image in the minds of consumers. It also include improving a customer's perception about the experience they will have if they choose to purchase our product ‘Kazbrella’
- 24. Innovation / Differentiation Quality Functionality- solves the problem with the common umbrella Unique Variety of umbrella
- 25. Accessible just for some people Commercialization and promotion in off season Difficult to buy
- 26. Concerned about fashion Development in R&D Concern about security, healthy and comfort
- 27. Entrance of new competitors Crisis People below poverty line cannot afford it
- 28. Particulars Amount (in Rs.) Research cost 378002 Communications costs 641250 Networking costs 6350 Promotion costs 557500 Advertising costs 369100 Public relations costs 160000 Meal costs 37950 List of service costs 77700 A/V services cost 17870 Additional costs 21695 ESTIMATED MARKETING GRAND 2267417
- 29. Kazbrella turns inside out, similar to how a flower opens. It is not like existing traditional umbrellas It is drip free. It is easy to handle. Doesn’t easily break in wind.