The document discusses the development of a new product called Minto to replace the existing product Sosyo. It analyzes Sosyo's stage in the product lifecycle as introduction with low sales, high costs and negative profits. It then outlines steps to develop Minto, including adding mint flavor, different colors and a diet version. Market research on Sosyo found preferences for taste, availability and awareness. The marketing strategy for Minto involves targeting students, positioning as refreshing and stress-relieving. Sales goals and budgets are projected along with the marketing mix and brand elements.

1. Prepared By: Sunil Chhajar The Never Ending

2. Time Product Develop- ment Introduction Profits Sales Growth Maturity Decline Losses/ Investments ($) Sales and Profits ($) The course that a product’s sales and profits take over its lifetime

3. CHARASTERISTICS 1.SALES 2.COSTS 3.PROFITS 4.CUSTOERS 5. COMPETTORS INTRODUCTION 1.LOW SALES. 2. HIGH COST PER CONSUMER 3. NEGATIVE 4. INNOVATIVE 5.FEW GROWTH 1.RAPIDLY SALES. 2.HIGH COST PER CONSUMER 3.RISING PROFITS 4.EARLY ADOPTERS 5 . GROWING NUMBER MATURITY 1.PEAK SALES. 2.LOW COST PER CONSUMER 3. HIGH PROFITS 4.MIDDILE MAJORITY. 5. STABLE NO. BEGINNING TO DECLINE DECLINE 1.DECLINING SALES 2. LOW COST PER CONSUMER 3.D ECLINING PROFITS 4. LAGGARDS 5.DECLINING NUMBER

4. SOSYO IS IN INTRODUCTION STAGE . LOW SALES HIGH COST PER CUSTOMER NEGATIVE PROFIT CUSTOMER ARE INNOVATIVE FEW BUT BIG COMPETITORS

6. Non Availability Tastes like liquor Less Known Brand Is sold in Ahmadabad ,Rajkot , Surat & Mumbai only

7. New-to-the-world Cost reductions New product lines Additions Improvements Repositioning

8. Sosyo has been discarded by the consumer Positioning can be done with adequate improvements in the product We have identified the segments and are going to target those segments The new product will have improvements & additions of Mint flavour

9. Steps In New Product Development

10. To develop a new drink that doesn’t taste like Sosyo To bring the same drink in different colours To develop a new drink that can quench the thirst of the people To make a drink that is mint based To market a health drink To develop a diet version of the same drink To add some flavors to the same drink

11. Product idea Product concept Category concept Brand concept Concept testing 20- Strength of Class= 55 Who doesn’t prefer= 2 Who prefer soft drinks but not Sosyo= 47 Reasons for non preference: Taste Colour Non Availability Brand Unawareness

12. To develop a new drink that doesn’t taste like sosyo Develop a new drink that can match with the taste preferences of the target market like a health drink or a diet drink

13. Marketing Strategy Development Stage-I Stage-II Stage-III Target market Product positing Sales, market share &profit goals B school students of IBS sec-c who are young, well –educated, moderate to high income. Positioned as refreshing, Cool , stress buster and a soft drink with a different taste

14. Stage-II Planned price Distribution Marketing Budget 200 ml-7 300 ml-10 Tie up with major distribution channels\ Dealers with IBS nearby shops. And canteen selling more than 550-600 bottles addl discount of 5% except the normal 10% on list price. Rs. 4 per bottle

15. Long Term Sales Profit Goals Marketing Mix ROI- 15-20% PROFIT @ Rs.1 per bottle Amount expected to be raised 15-20% and research should be reduced 5% every year.

16. Projected Sales- 450-500 bottles/month Review of sales Costs-Rs.6/bottle Projected profit- Rs1/bottle

17. Here R & D or engineering develops the concept into physical form: A pet bottle of 200 & 300ml A diet version of Sosyo(less than 1 calorie) Tastes like mint

18. AUGMENTED PRODUCT CORE BENEFIT Quenching the Thirst refreshingly ACTUAL PRODUCT DELIVERY AND CREDIT “ Bulk Discount on Bulk Purchase” INSTALLATION WARRANTY AFTER SALE SERVICE “ Continues feedback” PACKAGING “ Attractive Pet Bottle” QUALITY LEVEL “ Superior” DESIGN “ Persuasive” FEATURES “ Mint Form” “ Diet Version” BRAND NAME “ Minto” THREE PRODUCT LEVEL

19. A stage in which the product and marketing programs are tested in more realistic market settings like : 1. Distributing free samples of 90ml. 2. Targeting the group leaders . 3. Promoting the product with ads and banner within the campus area.

20. Sponsoring events of the college like Scintilla, International Conferences. The product will be launched during first week of April. Where to launch the product? - IBSA SEC-C

21. 9- The differential effect that brand knowledge has on consumer response to the marketing of that brand Endowing products and services with the power of a brand. Brand Equity Brand Knowledge Knowledge THOUGHTS FEELINGS IMAGES EXPERIENCES BELIEFS Associations Brand Associations Strong Unique Favorable Brand Promise Promise The marketer’s vision of what the brand must be and do for Consumers. Secondary Sources of Brand Knowledge

22. Develop new brand elements Apply existing brand elements Use a combination of old and new

23. Elements Slogans “ Minto Ho Saath to ban Jaye Baat” Brand name “ Minto” USP “ Mint Based Drink ” Logos Symbols Characters

24. More for more More for same More for less The same for less Less for less More The same Less More The same Less Brand Positioning Map

25. Brand Elements Marketing Activities Meaning Transference

26. Using the Brand Elements & leveraging Secondary Associations to create higher Brand Equity Creating SCHEMA by creating STRONG, FAVOURABLE AND UNIQUE associations with the students Increasing Brand salience and re-use by the differential response to the brand Extending the Brand Equity of Sosyo to the new Brand creating a Brand Family.