New product dedisions provide a dear path to the business. New product development astep by step process. A Complete idea is required behind new product. 1 1deal Generation: The development of a product starts with the concept and idea. The remaining process is depending on that idea. 2 Screening of Idea: This step is cruial to ensure that unsuitable ideas, for whatever reason, are rejected as soon as possible. Ideas need to be considered objectively, ideally by a group or committee. 3. Concept Development and Testing: After having an idea, next is the sreening stage. The idea should now convert into concept. It has depth information which can be visualizing by the consumer. 4. Anaysis of business: After finalization of concept, a business case needs to be kept algTStogether to consider whether the new service /product will be gainful. 2665.Product Development If the nev product is approved, it will be approved to the 2marketing and technical development step. 6. Test Marketing: Market testing (test marketing or) is different to consumer testing. in that it introduces the product that follows proposed plan of marketing. od7. Commercialization: When the concept has been tested and developed, final 0decisions are required to move the product to its introduction into the market. 8. Launch: A detailed plan of launch is required for this step. This is the important stage for success of a product New Drug Development So In present business atmosphere, it is more important to take smart decisions for business. Innovative approaches and new products can put an organization on proper pathway and to make a big success if appropriately analyzed and executed. Make it simpler (Fig.2.1).0 Following parameters should keep in mind for a better decision: Analyzing existing service and product portfolio frequently. Knowing the position of functions of business, projects of departments and initiatives. Understanding the distribution of funds and assessing efficiency. Having understanding of market for new opportunities and possible competition. 2.B PRODUCT BRANDING, PACKAGING AND LABELLING DECİSIONs 2.8.1 Branding Branding has its existence from ancient era. According to Nilson (2000), the first example of branding is found in the oil lamps' manufacture on the Greek islands thousands of years back. Brand elements are name, sign, term, symbol, design or distinguishing characteristics. Brand is not only a graphical design or a logo; it is the unique identity of the product. By American Marketing Association, Brand can be defined as name, term, sign, symbol or design, or a combination of them intended to identijy the goods and services of one seller or group of sellers and to diferentiate them from those of other sellersa54 Branding is a process, where a company generates loyalty among consumers in the market. Brands are designed with a motive to communicate customers the reason for the existence of their product. Brand should have a strong connection with customers;

2. Presented by-
Asraful Islam Rayhan
Dept. of Pharmacy
JESSORE UNIVERSITY OF SCIENCE & TECHNOLOGY

3. A process of
dividing the
market into
distinct groups
of customers
according to
their needs,
characteristics or
behaviors

4. • Generate greater customer satisfaction
• Create savings
• To identify strategic opportunities and niches
• Increase marketing effectiveness
• Allocation of marketing budget
• Adjustment of product to the market need
• To estimate the level of sales in the market
• To overcome competition effectively
• To develop effective marketing programmers
• To contribute towards achieving company goals
• To develop marketing activities

5. The two main goals that any segmentation methodology should be able to
address are:
1) At a strategic level, segmentation should be able to help an organization
rapidly evaluate new business opportunities
 Geographical expansion: Should the retail chain expand to north east?
 Product expansion: Should the electronic manufacturer launch a
Smartphone?
2) At an operational level segmentation should yield information to help
craft successful marketing offers for specific prospects.
 Product: What product features are must haves vs. nice to haves?
 Price: What is the price point that customers are willing to pay?
 Communication: How to message to the target customers.
 Distribution: Where do the target customers live?

6. In addition to having different needs, for segments to be practical they
should be evaluated against the following criteria:
• Identifiable: the differentiating attributes of the segments must be
measurable so that they can be identified.
• Accessible: the segments must be reachable through communication
and distribution channels.
• Measurable: It has to be possible to determine the values of the
variables used for segmentation with justifiable efforts. This is
important especially for demographic and geographic variables. For
an organization with direct sales (without intermediaries), the own
customer database could deliver valuable information on buying
behavior (frequency, volume, product groups, mode of payment etc).

7. • Substantial: the segments should be sufficiently large to justify the
resources required to target them.
• Unique needs: to justify separate offerings, the segments must
respond differently to the different marketing mixes.
• Durable: the segments should be relatively stable to minimize the
cost of frequent changes.

10. When a population is divided on the
basis on geographies i.e. country, state,
city, village, region, postal code etc, it is
referred to as geographic segmentation.
This market segmentation type helps
form clusters based on location,
topography, location etc.
The following are some examples of geographic
variables often used in segmentation.
• Region: by continent, country, state, or even
neighborhood.
• Size of metropolitan area: segmented
according to size of population.
• Population density: often classified as urban,
suburban, or rural.
• Climate: according to weather patterns
common to certain geographic regions.

11. Slicing the market into groups
based on demographics like age,
gender, income, family members,
educational qualification, socio
economic status, occupation religion,
race & nationality etc called
Demographic segmentation.
Demographic factor are the most
popular bases for segmenting
customer groups. Because customer
needs, wants & usage often very
closely with demographic variables &
are easier to measure than other types
.

12. Divides the customers
based on:
 Lifestyle
 Social Class
 Personality
Based on the different expectation
that customers have about what a
product/service can do for them

13. Behavioral segmentation
divides buyers into groups
based on their knowledge,
attitudes, uses or responses
to a product.

14. Market Segmentation
1. Identify bases for segmenting the market
2. Develop segment profiles
Market Targeting
3. Develop measure of segment
attractiveness
4. Select target segments
Market Positioning
5. Develop positioning for target segments
6. Develop a marketing mix for each segment

15.  Targeting multiple segments increases marketing
costs.
 Segmentation can lead to proliferation of
products.
 Narrowly segmenting a market can hamper the
development of broad-brand equity.

16. The process of evaluating each market
segment’s attractiveness and selecting one or
more segments to enter.

17.  Undifferentiated Marketing (very broadly)
 Differentiated Marketing (somewhere in between)
 Concentrated Marketing (somewhere in between)

18. A market-coverage strategy in which a firm
decides to ignore market segment differences
& go after the whole market with one offer.

19. A market-coverage strategy in which a firm
decides to target several market segments and
designs separate offers for each.

20.  A market coverage strategy in which
a firm goes after a large share of one
or a few segments or niches.
 Normally used when company
resources are limited
 Company gains a better
understanding of the niches it caters
& special reputation may be gained.
 Products can be “Fine-Tuned” to
assure “effective marketing” focused
upon specific customers.
 Can be highly profitable but also
involves higher risk levels.

22. The way the product is define by
consumers on important attributes ----
The place the product occupies in
consumers minds relative to competing
products.

23. • Step 1. Identifying Possible Competitive
• Step 2. Selecting the Right Competitive
• Step 3. Communicating and Delivering the
Chosen Position.

25. To Make Entire Organization Market
oriented.
To Meet Expectation of Buyers
To Promote Consumer Goodwill and Loyalty
To Design Promotional Strategy
To Win Attention and Interest of Consumers
To Attract Different Types of Consumers
To Face Competition
To Communicate New Feature Added Later
on