new product development strategy
DESCRIPTION
New product development strategy (Green Coconut Water) named "Jol"TRANSCRIPT
![Page 1: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/1.jpg)
Welcome to Presentation on
“New Product Development Strategy”
Presented by:Golam Musabbir
ID: 1230943
![Page 2: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/2.jpg)
![Page 3: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/3.jpg)
Jaul is a kind of soft drink that provides the consumers with processed green coconut water in bottles. For the marketing purpose of the product we have decided to launch three product lines. The Jaul would be launched in the market at 250 ml. 500 ml. and 1 Litre bottle.
![Page 4: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/4.jpg)
Market Segments
Geographic Segmentation: Sylhet Rajshahi Khulna & Barishal Chittagong DhakaDemographics: Individuals Family Sportsman Business buyer
![Page 5: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/5.jpg)
Psychographics: Higher class Higher mid class Middle class
Behavioral: Sick people Health conscious Sophisticated who take the new product
from the market
Market Segments (cont.)
![Page 6: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/6.jpg)
Target market and projections:
Our target is to maximize profit by providing maximum satisfaction to the consumers.
Analyzing all the segments, we decided our target market according to our product category. The target customers of “Jaul” are sick people, health conscious people, sportsmen and tourists.
![Page 7: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/7.jpg)
Competitive Analysis
The Soft drink industry is very much competitive. Many soft drink companies have acquired a significant portion of the market. But the unique features of “Jaul” will take it far beyond the reach of the competitor. Because, no one has yet thought about selling green coconut water in such a specialized way.
![Page 8: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/8.jpg)
SWOT analysis: Strengths: 1. Available input materials 2. Low production cost 3. Technological and marketing
knowledge 4. Strong distribution channel Easy manufacturing process Reasonable price
Weakness: It is easy to copy the idea by others Taste differ from the natural green coconut
water Green coconut water cannot be preserved
for longer period
![Page 9: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/9.jpg)
Opportunities: Monopoly market Large market High demand Might have a chance to get subsidies by Govt.
to export
Threads: High competition in future by copying the idea Entrance of new product Alternatives are avoidable in some segment Uncertainty of launching a new product.
SWOT analysis (Cont.):
![Page 10: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/10.jpg)
Competitor Analysis
The major soft drinks and juice companies of current market are:
Pran Groups Starship Euro Cola RC Cola Coca cola Pepsi Acme Danish Foreign Products etc.
![Page 11: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/11.jpg)
Strategies against competitors:
Providing the best service to create high customer satisfaction
Reasonable and acceptable pricing Promising and providing top quality product Launching highly effective mass promotional activities Continuous innovation and modification of the
products Creating and maintaining long term customer
relationship Creating “Brand Loyalty” among the target
consumers
![Page 12: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/12.jpg)
Pricing Strategies:
Setting the pricing objectives
Determining Demand
Estimating costs
Types of cost and level of production
Analyzing competitor’s costs, prices
and offer
Selecting a pricing method
![Page 13: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/13.jpg)
Promotional Strategies Advertising:
We initially will give more emphasis on paper ads and TV commercials.
Personal Selling: Sales persons will inform the consumers about the cool
refreshing taste and nutritious aspects. Promotional tools: Initially 50% discount just make our new product familiar
with the customers. Public relations: seminars, commit social development, cultural functions
etc.
![Page 14: New product development strategy](https://reader035.vdocuments.mx/reader035/viewer/2022081412/5452a4cdaf7959bb0c8b7baf/html5/thumbnails/14.jpg)