NEW PRODUCT DEVELOPMENT

Presented By- Mukesh Kumar

Bhatta Basanta Kumar

Padhan Bishwanath Pradhan Jitendra Kumar Akhilesh Kumar

NEW PRODUCT DEVELOPMENT

Company Name – OXZONE

Product- Visio Laser

Punch Line – Go right ahead

Company Logo-

INTRODUCTION Product description

A telescoping, electronic device that gives both height and sight to shorter individuals and people with disabilities.

Product Functions Visually scans items and displays a description of

them (either in pictorial or auditory formats).

Customer base Individuals with visual or height impairments.

MANUFACTURING PROCESS (CON’T)

Brief overview of the potential technology

How critical are cost, quality, and/or development cycle for your product?

Display- screenEarphone feature

Watch – a possible portable display

MANUFACTURING PROCESS

Product Physics/measurement TV screen chip Antenna radio frequencies, kinematics Computer chip, IT, Blue thooth-- Alarm

Potential manufacturing processes used

Metal Electronics Plastic/Rubber Glass

Deformation – sheet metal (Antenna)

Spot welding – metal, electronic wiring

Injection Molding/Casting

(Switches, controls)

Small optics ("third eye", LCD Screen )

Stamping Milling – production casing

Soldering – electronics (small

wiring)

Milling – part fixturing (screen face)

 

MANUFACTURING CHALLENGES

Size of the laser/camera (optics, circuitry)

Durability (accidental collisions)

Compromise between functionality (height) vs. convenience (size, portability)

Wired/wireless transfer of info from scanner to display (accidentally pinching wires inside the telescoping shaft)

STAGES IN NEW PRODUCT DEVELOPMENT

Commercialization

Test Marketing

Business Analysis & Product

Development

Marketing Strategy

Concept Development & Testing

Idea Screening

Idea Generation

INTERNAL SOURCES Company R&D

department Employee Sales people

EXTERNAL SOURCES Market & Consumer

trend Focus group Corporate

Idea of this new product is obtains from basic research using SWOT ANALYSIS .For this requirement of Visio laser is for shorter & people with disables. We have collected different ideas (150) from the different sources as follows-

Idea Generation

IDEA SCREENING

By this process we have adopt this idea by taking the feasibility analysis & need of this products in the markets-

Will the customer in the target market benefit from the product ?

What are the industry sales & market trends the product idea is based on?

Is it technically feasible to manufacture this product ?

Will the product be profitable to the company?

CONCEPT DEVELOPMENT

We have to find out how below concepts are attractive to the customer.

1. It will makes disable (blind) person to independent one toward some extent.

2. Shorter person can be able to see like a normal person.

3. It can be used at the time of war and for security purposes.

CONCEPT TESTING We have test the concept by asking the following

questions to the population and estimate the demand of the product as well as which concept the customer like most.

1. Do you understand the concept of Visio laser?

2. What type of advantage you have got from this product?

3. What improvement do you suggest for this product?

4. What should be price of this product?

5. Would you like to buy this Visio laser (definitely, probably, probably not)

MARKETING STRATEGY The marketing strategies of the company is

of three parts that are as follows.TARGETING :-Upper class & Middle class

people.POSITIONING:- Through advertisement

SALES & PRFIT:- For the first year we have decided to sale

5000 units. Profit for this first year will be negative as we

have invested so much in R&D department . The promotion of the product will also take

high expense in the first year.

CONTINUE…………………………. It will be available in electronic shop of retail

price Rs 12990. We offer a 10% less price to the dealer. And

special offer for selling more than target. We have captured 5% of the market share. After long run investment profit after tax will

be 10%. If competition permit price will be raised on

2nd & 3rd year. After first year advertisement budget will

raised 10%. Than marketing research will be definitely

reduce to 30% In the next two year.

MARKETING MIX PRODUCT:-Visio laser

PRICE:-Rs-12990/-

PLACE:-This product will be lunch first time in India in every metro city and later in every city and big town. In the second year we are going to lunch it in abroad.

PROMOTION:-The budget of advertisement will be divided as 70 %national media and 30 %local advertisement .

Advertisement will be through TV, Newspaper , Internet & special awareness programme, Personal sales .

BUSINESS ANALYSIS We have planned to do the review of the sales, costs and

profit projection for this product to find out whether these factors satisfy the company’s objectives.

To estimate the sales of the product we have make research of the demand of the product in a particular area.

Through these analysis we have estimate the product price as well as the No. of product to be sale in this year.

This analysis also help us to estimate The amount to be invested in

a. R&D department -5 crore

b. Marketing and advertisement-2crore

c. Operation and finance cost-1crore

d. Total production cost-7crore

PRODUCT DEVELOPMENT

It is the stage to develop the concept in to physical product.

The R & D department will develop one or more physical versions of the product concept.

Functional tests are then conducted under laboratory and field conditions to make sure that the product performs safely and effectively

TEST MARKETING The stage of new product development where the product

and marketing programs are tested in more realistic market settings-

Test Market types:

Standard Test market Controlled Test Market Simulated Test Market

We have used standard test market for this product.

COMMERCIALIZATION

It means introducing this product in to the market.

Introduction Timing-After Summer.

Location-All metro city in India.

THANK YOU