New Product Introduction- Pencil Sharpener
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Transcript of New Product Introduction- Pencil Sharpener
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New Product Introduction – Pencil Sharpener
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Flow of the PresentationNew Product IntroductionProduct FeaturesProduct PricingPromotion MethodsProduct PlacingSWOT AnalysisSegmentation, Targeting, Positioning Contingency Plan
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Idea Generation Idea Screening Idea Developing Business Analysis Market Testing Technical Implementation Product Launch Post launch review
New Product Introduction:
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Idea Generation Saturated Market for Pencil
Sharpener
Product had reached Maturity Stage in PLC
Idea to Attract attention of Customers
Increase Market Share
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Idea Screening
Checking Idea feasibility
Eliminating non feasible Ideas
Selecting Idea which is parallel to Companies demands
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Idea Developing Idea Selected Coming up with
Sharpeners with innovative designs and cartoons
Idea Developed doing 360 degree analysis
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Business AnalysisDeciding the Pricing Strategy
Production plan
Marketing Strategy
Distribution Strategy
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Market Testing Launching the
Product in the Market for Testing
Consumer Feedback are collected
Performance of “IMAGINER” in market is analyzed
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Technical Implementation
Drawing Results based on Market Testing
Considering Customer Feedback
Improvising the Product accordingly
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Product LaunchLaunch of the “IMAGINER” into the
entire market
Starting of Advertising and Commercial Campaign
Implementing Sales Strategies
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Post launch reviewReview performance of “IMAGINER”
Ratifying the mistakes in Strategies or Plans
Try to increase the Market Share
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Product Features Creative Shapes and exciting
colors Safety, since the blade is not
exposed Can be used as a toy by children Innovative Sharpening Experience Affordable
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Pricing Absorption cost pricing method Evaluation of competitor price Affordability of target marketPrice range starting from Rs 20 upto Rs
50.
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ComparisonCriteria Imaginer Higher Range
CompetitorLower Range Competitor
Features • Innovative Shape
• New colors• Safety• Anti rust blade
• Electric Motor• Complicated
design• Safety risk
• Basic design• Exposed
blade• Low quality
Price Range Rs 20 – 5o Rs 500- 700 Rs 5 - 10Competitive Advantage of Imaginer
• Appealing • Easy and safe
use• Mobility
• Unnecessary power cost
• Limited mobility
• Monotonous design
• Rusting of blade
• Risky due to breaking
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Our Range of Sharpeners
Rs. 40
Rs. 35
Rs. 50
Rs. 45
Rs. 20
Rs. 30
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IMAGINERSharpen Your Imagination
Available at all leading stores and e-commerce sites.
Starting from Rs 20 only!!
Introductor
y Offer!!
Buy 1 & get
20% Off on the
second!!!
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Promotion Imaginer – Sharpen your imagination Tie up with notebook brands to advertise on back cover Live demonstration in schools and summer camps Advertisement on television – cartoon channels Banners at stationery shops Initial Promotion offer – Buy 1 and get 20% on the
second.
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PlaceIntroduction of product in tier 1 and tier 2. Available at supermarkets, and stationery
stores One Level Channel of Distribution –
Manufacturer – Retailer – Consumer Also available on all e-commerce sites
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SWOT
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StrengthsEye catchy designs Non – Blackening of hands Eco- friendly non hazardous colorEnhanced Sharpening ExperienceMobility Safe for childrenAffordable pricing
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WeaknessHigh capital cost Comparative higher pricing Unestablished brand Manual operation
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OpportunitySaturated market with
monotonous sharpeners
Potential of attracting children Large market
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Threats Existing established brands Pioneer brands like Nataraj which
have high market share Electronic Sharpeners with less efforts Low cost sharpeners already existing Existing mechanical pencils which do
not require sharpening
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Segmentation Urban and Semi urban Upper Middle class and Middle classSchool Kids
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Targeting School kids Parents Creative offices Stationery savvy people
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Positioning Affordable to target customer Innovative design for masses Not restricting to niche market Convenience
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Contingency PlanReducing on the price and resorting to Penetrating Pricing
Introducing a Brand Ambassador(Possibly a Cartoon Character or a child celebrity)
Sponsoring School Functions and Competitions for
more brand Awareness
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Thank You!!!
Contributors: Karan Shah - 142
Shivani Desai - 122Abhishek Mishra - 104Chitresh Jhawar - 128
Division A - Group 9