new product introduction- pencil sharpener

1

2

New Product Introduction – Pencil Sharpener

3

Flow of the PresentationNew Product IntroductionProduct FeaturesProduct PricingPromotion MethodsProduct PlacingSWOT AnalysisSegmentation, Targeting, Positioning Contingency Plan

4

Idea Generation Idea Screening Idea Developing Business Analysis Market Testing Technical Implementation Product Launch Post launch review

New Product Introduction:

5

Idea Generation Saturated Market for Pencil

Sharpener

Product had reached Maturity Stage in PLC

Idea to Attract attention of Customers

Increase Market Share

6

Idea Screening

Checking Idea feasibility

Eliminating non feasible Ideas

Selecting Idea which is parallel to Companies demands

7

Idea Developing Idea Selected Coming up with

Sharpeners with innovative designs and cartoons

Idea Developed doing 360 degree analysis

8

Business AnalysisDeciding the Pricing Strategy

Production plan

Marketing Strategy

Distribution Strategy

9

Market Testing Launching the

Product in the Market for Testing

Consumer Feedback are collected

Performance of “IMAGINER” in market is analyzed

10

Technical Implementation

Drawing Results based on Market Testing

Considering Customer Feedback

Improvising the Product accordingly

11

Product LaunchLaunch of the “IMAGINER” into the

entire market

Starting of Advertising and Commercial Campaign

Implementing Sales Strategies

12

Post launch reviewReview performance of “IMAGINER”

Ratifying the mistakes in Strategies or Plans

Try to increase the Market Share

13

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

14

Pricing Absorption cost pricing method Evaluation of competitor price Affordability of target marketPrice range starting from Rs 20 upto Rs

50.

15

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

16

Our Range of Sharpeners

Rs. 40

Rs. 35

Rs. 50

Rs. 45

Rs. 20

Rs. 30

17

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!!!

18

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.

19

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

20

SWOT

21

StrengthsEye catchy designs Non – Blackening of hands Eco- friendly non hazardous colorEnhanced Sharpening ExperienceMobility Safe for childrenAffordable pricing

22

WeaknessHigh capital cost Comparative higher pricing Unestablished brand Manual operation

23

OpportunitySaturated market with

monotonous sharpeners

Potential of attracting children Large market

24

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

25

26

Segmentation Urban and Semi urban Upper Middle class and Middle classSchool Kids

27

Targeting School kids Parents Creative offices Stationery savvy people

28

Positioning Affordable to target customer Innovative design for masses Not restricting to niche market Convenience

29

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

30

Thank You!!!

Contributors: Karan Shah - 142

Shivani Desai - 122Abhishek Mishra - 104Chitresh Jhawar - 128

Division A - Group 9