Product Development (Dhoom Cycles) By students of SVS College Bantwal
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Transcript of Product Development (Dhoom Cycles) By students of SVS College Bantwal
NEW INNOVATIVE PRODUCT
Submitted By : Nivea , Nayan , Swathi , Ashwini , Priyanka Pinto ,
Marwin , Tameem , Meghana , Akshatha , Shrikanth , Thripthi
Submitted To : Vishnu Sir
Department of Commerce
S.V.S College , Bantwal
Contents1 . Name of the company
2 . Name of the product introduced
3 . Marketing strategies used
4 . Marketing segmentation
5 . Cost and pricing decisions
6 . Media of promotion
7 . SWOT Analysis
8 . Social Responsibilities
JUST GO FOR IT
Unique Selling Points and Features :
1. Available in most of all colors as per consumer demand .
Steel and fiber body.
2. Built in navigation , emergency caller .
3. Built in camera .
5. Airbag jacket .
6. Foldable helmet .
7. Rain sensing windshield with a transparent rain cover .
8. Flexible mudguard / unique one / automatically foldable .
9. Lane for safety during night time / laser lanes .
10. Attached indicators : they are the blinkers attached to the steering which can also be used as indicators
11. Smooth and comfortable pedals / automatic as well .
12.Chargeable battery , solar energy .
13. Easy hand able seats , available in two types : one is normal seat similar to other company’s cycles . Comfortable , spacious .
one more is box shaped seat that can be divided or made as four seats .
14. Other than two wheelers we have a unique thing in our cycle that is whenever necessary on the option of customers . The cycle can be converted from two wheelers to four wheelers i.e. there we use unique technique of transforming a two wheeler cycle to four whenever wherever you require .
15. Body balancing technology has been used .
16. Light weight .
17. Trendy look .
18. Instructions book is provided to operate the unique techniques .
19. MP3 player.
20. Back rest .
We are creating a personal cycle lane that cyclist take with them wherever they pedal.
Our product is a light that projects two laser beams in front of and behind a cyclist , encouraging motorists to give the rider a wide berth.
We have developed a foldable helmet that stretches to fit your head perfectly , when you get off your bicycle you can tuck it into your back pack or purse , compressing it for storage .
All the above features are true and tested by the respected committees and approved by the quality committee and high level engineers .
QUALITY• All the parts of cycle and design have
undergone rigorous product torture testing.
• Engineering the product so it does not fail is key to the survival of this business.
• Used best quality products with long lasting durability .
To produce finest quality cycle and get good consumer feed back.
• To become the premier bicycle manufacturer .
• Increase sales to make DHOOM a sustainable business .
• Significantly increases sales by creating a new market segment of customers .
The bicycle industry is generally three layered system i.e. manufacturer , distributor ,
retailer . But we use both that is product directly from manufacturer to consumers as well as through distributors .
STRATEGY AND IMPLEMENTATION SUMMARY
DHOOM company will be leveraging its competitive edge of customization of its product for different riders . This will offer differentiation between the competitors and something that will be emphasized in the marketing materials .
COMPETITVE EDGE :
DHOOM cycle’s competitive edge is it’s product offering that is customized to the weight and aggressiveness of the rider . Every other manufacturer has only one type of cycle with variation in length . Nobody else offers distinct products for different riders .
DHOOM Cycle are made for different weight groups and different age groups as well. We design cycle with high safety margin .
We have focused on all category of people depending on their likes and dislikes . So they fell the uniqueness in our cycle and get at most satisfaction.
MARKET STRATEGY USED
DHOOM will use a different marketing strategy based on two different market segments . Marketing for the individual consumers will be done primarily over the internet.
We also focus in promoting over website through good positioning on search engines like Google . Wherever the search engine refers a person to DHOOM’S site based on the keyword that they entered into the search engine . Payment is made to such search engines .
Participation in some trade shows will be key to marketing effort for the distributors if incase our product is in competent .
The focus will be mainly on youth , as we consider them to be our main customers .
Marketing strategy used is both market concept as well as societal concept .
We mainly focus on consumer benefits and not profit . Though our way of promoting sales may be expensive but we have already kept sufficient capital to overcome any financial problems .
At the beginning though we may not get any profit but as the time passes we will make a space in customs hearts. That will be the great tribute we could except.
The sales focus for this group will be the conversion of qualified leads through the emphasis of the products being customer designed for the specific customer , combining comfort , light weight and a wide safety margin . This will help differentiate our cycle from the competition . Concern about the durability of parts will be eliminated by the DHOOM company’s best warranty of five years.
MEDIA OF PROMOTION
Internet , websites , showrooms , newspapers etc .
Internet is the place where we can attract large number of customers .
We have created our own website where customers can make online shopping of cycle as well as its parts .
The main way of advertising in crowded areas is by distributing a cycle to some group of people
which will improve their lifestyle as well as help us to attain more customers .
We have planned to promote our cycle by way of college students .
We focus on both city , town and rural areas , our cycle can be used in any place . We spend a little more amount on the promotional activities i.e. once if we get customers , automatically the satisfied riders will promote our cycle by way of expressing it to their friends , relatives .
• As our cycle operates by man power , solar and battery , no need of spending much on fuel .
• By promoting our cycle we also promote the message of saving fuel .
• Our cycle is designed in such a way that all groups of people , rich , middle class and poor will love to buy it . Price is fixed in different ways so that a rich can also get satisfied by its unique qualities and a poor and middle class rider too can get benefit with our cycle .
DHOOM company’s main aim is consumer benefits and satisfaction . As soon as we gain customers with the passage of time automatically we gain profit . So first our aim is to provide a better quality product in the market .
* On sale of 10 bicycles , one cycle will be donated to a needy person of the society .
• If profit is made , 10 % of our profit will go to children’s fund ,so that we can help poor and needy children to educate themselves .
• We also conduct some awareness programs like Save Fuel and Save Earth.
• Our cycle is ecofriendly , as no smoke is let out from it .
• we also focus on improving the living of rural women. The rural women can also enjoy the benefit of our cycle .
• We have designed this cycle specially for the safety of girls .
• The girl is much more safer when she is riding our bicycle . Siren for emergencies , inbuilt camera , G.P.S and emergency caller .Emergency caller is a unique technique we have introduced in the bicycle that whenever they find or feel any danger , just press the button on steering , a message will be sent to the save number telling that you need some help immediately .
Thus we feel that our company has not only produced a bicycle but a safety kit . That every parent would love to gift to his son or daughter .
• Strong relationship with customers help to increase our sales with customer satisfaction .
• Excellent staff who are well trained in their respective fields who recognize the need to ensure complete customer satisfaction .
• A better innovative idea with comfort and safety .
• The difficulty of raising visibility among all of the perspective customers .
• Predicting whether our bicycle will be successful since newly introduced in market .
• Growing competition .
• As we are introducing an innovative idea in cycle , yet has not hired by any other company. There is a greater opportunity in the market .
• Waiting time improvements .
• Expansion in other foreign markets .
• Companies mass producing bicycles abroad .
• Competition copying design .
We have segmented the market into different customers :
Individual customers :
Product will be sold directly to consumers via the website , showrooms etc .
Kids : We have designed our product in different ways . Bicycle for kids has some simple ideas to entertain the kids while riding cycle .
We focused on youth providing them with trendy designs and safety features .
For adults and middle aged people we have comfortable and simple operating features .
Our main focus is on the young school and college going students , the second preference to men and women above 30 years . Kids bicycle is optional , depending upon the demand .
We also focus on distributors , incase we fail to attain attention of consumers , we market our product through different distributors . The distributors will help us to gain consumers in different areas of market .
Distributor customers will be targeted through deals and relationships set up through industry trade shows . While the margins are lower for this customer group , distributors are able to purchase for greater quantity of products. They also assist in the selling of the product to the independent retailers who help to sell the bicycle to ultimate consumers .
• As our bicycle is operated by manpower , solar and chargeable battery . No fuel is required . Hence there is opportunity for our bicycle in the market . People would prefer our product rather than a motor bike or car .
COST AND PRICING DECISIONS :
• Though our cost of production is more , we have already have some extra funds for this .
• Our price is reasonable one .
• We have tried to assemble all our parts at a reasonable cost .
• The price range of cycles begin from Rs 5,000 to Rs 50,000 . Depending upon the features and demand of customers .