Grateful 7 speech thanking everyone that has helped.pdf
New product development 23
1. PRESENTED BY :
ISTIAK RAYHAN
ADNAN AHMED
ABUL HASNAT
ABU SAYED EMON
SAYEM IBN KASHEM
2. FINDING THE PEOPLE:
LUX hires the people with diverse experience , great
enthusiasm for making new product . It also uses their
own stuff for this purpose.
ACTIVITIES :
Management provides the main concept .
LUX management system arranges the training program
for the creative people for making them more productive.
Special treatment for example .
RESULT :
Company gets several ideas in order to find a good ones
3. After the firm identifies potential products , it must
screen them. Company wants to go ahead with the
product idea that will turn into profitable product.
We choose 64 idea for screening to find out good
ones.
Company wants to go ahead only with the product
ideas that turn into profitable products.
All idea will be reviewed by a new product
committee.
4. CONCEPT DEVELOPMENT :
Consumer want a product which can protect skin from
sun rays and wash our face.
It could have both features of SUNBLOCK and SUNWASH
Our scientist discovered a new chemical mixing to cleanse
, refresh and purify oil skin.
CONCEPT TESTING :
We test our new product concept with a group of young consumer to
find out consumer appeal by asking them some question about
concept. We have got a
strong consumer appeal.
5. FIRST PART :
Target Market is urban, sub urban upper middle and middle class people.
It will be positioned through better product attributes , price and quality .
The company will aim to sell 10 lacks for first year and a profit of 1 core tk.
SECOND PART:
SUNWASH will sell retail price of 120 Tk with 15% off the list price to dealers.
Dealers who sell more than 10000 products will get an additional discount of 5 %
on each .
An advertising budget of 3 lacks taka will be split for local advertising.
THIRD PART:
Company intends to capture 5% share of the total markets.
Advertising budget will be raised each year about 10%.
Price will be raised in 2nd and 3rd years.
6. Sun block and face wash has a good demand
in market . Our new product is the
combination of both. As a result it will sell
more then sun block or face wash.
To produce a single product company’s cost
will be 70 Tk and company sell it to the
whole seller at 80 tk. Its retail price is 120 tk.
(Where sunblock+facewash is 150 tk )
7. SUNWASH(sun block + facewash)
Our R&D develops the product concept into a
physical product which name is SUNWASH.It has
both qualities of sun block and facewash. As a sun
block it helps to protect skin from UV rays and
cleanse our skin from dust and provide elastic
feelings.
Our marketing strategy is promote the new and
unique product under UNILEVER, under the brand
name of LUX.
8. Company provides sample to a group of
consumer and ask the reasons for their
purchase or non-purchase.
After few weeks company also takes the
feedback of consumer by phone to
determine product attitudes , usage and
satisfaction.
Company get positive feedback about the
new product.
9. SUNWASH will be marketed in this
summer
We have decided to launch this product
firstly in the local (Dhaka) market.
Our main target is Younger people.
Company will introduce this product
through advertising and sales
promotion.
10.
11. Made By :
Istiak Rayhan
International Islamic University Chittagong .