NEW PRODUCT DEVELOPMENT-MARKETING MANAGEMENT-2010

DILKAP RESEARCH CENTRE AND INSTITUTE OF

MANAGEMENT STUDIES
Campus:
Villege Mamdapur, Post Neral, Taluka Karjat, Dist. Raigad-410101,
Maharashtra, India.
Telephone No.: 02148-204064
Visit us at: www.drims.in

Corporate Office:
Maker Tower F, 39 A, 3rd Floor, Cuffe Parade, Mumbai-400005,
Maharashtra, India.
Telephone No.: 022-40020700/022-40020800/022-40020900
Fax: 022-22169090
E-mail: info@drims.in

Branch Office:
Room 514, 5th Floor, Hilton Center, Sector 11, Plot 66, CBD Belapur, Navi
Mumbai-400614, Maharashtra, India.
Telephone No.: 022-40123300/022-40123700
Fax: 022-22169090

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NEW PRODUCT DEVELOPMENT-MARKETING MANAGEMENT-2010

MULTIFUNCTIONAL
MOUSE

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 NEW PRODUCT DEVELOPMENT-MARKETING MANAGEMENT-2010

IDEA GENERATION & SCREENING

When we were going to start business we have had many ideas regarding a new product. But
we selected multifunctional mouse out of many because of its importance and need in the current
market.

TV WITH DVD ROM:

A TV that has DVD Rom attached with it. There is no need to carry DVD Rom separately with
TV.

REJECTED: On the ground that it involves too much technology and technology can get obsolete
very soon

CAR CASINGS:
Customized body/casing of cars just like when you get bore of your cell phone casing you
change it. Similarly you can get new casing for your car.

REJECTED:

On the ground that its cost may be very high and Most of the people wouldn’t be able to buy it
frequently. Only for those who have cars. And each car requires different type of casing and that
would make it even more expensive.

UNIFAC WATCH

This watch can be used for various purposes like scanning, checking of BP and fracture on any part of
body, it helps in getting the map of any country, mass storage.

REJECTED:

On the ground that its cost may be very high and Most of the people wouldn’t be able to buy it
frequently. Only for those who have high standard of living. It has to be used very carefully. Person
who can’t bare the weight of the watch will never think of buying such heavy and highly complicated
product.

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 NEW PRODUCT DEVELOPMENT-MARKETING MANAGEMENT-2010

MULTI FUNCTIONAL MOUSE

This mouse will have important functions in one click and the people or the prospects are techno-
freak and find a simple way to access system.

ACCEPTED

Nowadays everyone has personal computers at their home so the market size as well as company
has large opportunities for the product.

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 NEW PRODUCT DEVELOPMENT-MARKETING MANAGEMENT-2010

INTRODUCTION
Company will work with technology with the brand name of “Global solution”. Company also
uses a statement, “It’s not just mouse, its ‘magic stick’.” It shows how much conscious it is about
quality and standards and assumes full responsibility about the products and its consumer’s
satisfaction.

MISSION STATEMENT
"At Global Solution, we strive to lead in the invention, development and manufacture
of the industry's most advanced information technologies, including computer systems,
software, storage systems and microelectronics.
We translate these advanced technologies into value for our customers through our
professional solutions, services and consulting businesses worldwide."

OBJECTIVES

“Global solution” has established a reputation for quality products and to continue to
maintain its goodwill in the market. The company seeks to become a global leader in providing the
race of IT products by:

Increasing quality of the products.

Increasing availability and accessibility to current and future customers.

Creating innovative, unique, and cost-effective products to attract customers.

To revolutionize the way, the IT industry is perceived

To remain well known and acclaimed company for IT products.

LOGO OF THE COMPANY

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ABOUT THE PRODUCT

The company will produce a multifunction mouse with various features that can be used for various
purposes and in various sectors with various varieties.

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DIFFERENT VARIETIES THAT COMPANY WILL BRING IN MARKET

BUSINESS PURPOSE MOUSE

Wired mouse with multifunction.

One extra button with internet browsing function, click the multimedia key, it will open the
website automatically.

Work on any surface except glass.

One click print.

Comfortable in hand, for both right and left hand operation.

USB, U+P combo available.

800 DPI.

Size: 112*62*37mm.

Bluetooth function.

GENERAL PURPOSE MOUSE

Wired mouse with multifunction.

One extra button with internet browsing function, click the multimedia key, it will open the
website automatically.

Most of the keyboard buttons are available.

Work on any surface except glass.

Zoom in and Zoom out function.

Various colors available.

Comfortable in hand, for both right and left hand operation.

USB, U+P combo available.

800 DPI.

Size: 154*67*57mm.

Bluetooth function.

GAMING PURPOSE MOUSE

Wired and wireless mouse with multifunction.

Joystick is available.

Work on any surface except glass.

Various colors available and shapes are available.

Comfortable in hand, for both right and left hand operation.

USB, U+P combo available.

800 DPI.

Size: 132*72*47mm.

Bluetooth function.

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AREAS OF WORK
Company will launch the product in Mumbai initially. After launching the company will target
other metro cities like Bangalore, Delhi, Hyderabad, and Chennai etc.

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SWOT ANALYSIS
STRENGTH

New technology used for product development.

Product will have various models having different size, shape and colors.

Product developed by company is a quality product.

Brand name is widely accepted and registered in company’s act 1956.

Good print media advertising campaign.

WEAKNESS

New product developed therefore high investment in R& D.

Less profit in the introductory stage of the product.

Huge marketing expenses because of new product and technology.

OPPORTUNITIES

In future organization can target various sectors like business purpose, gaming purpose, etc.

There will be an increase in the market as well as product varieties.

THREATS

New product and most people resist change so in initial stages people would be reluctant to
buy that product.

Government can impose rules and regulations.

Competitors can copy design of the product so there can be increase in competition in future.

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PEST ANALYSIS
POLITICAL FACTORS

Political factors play vital role for the business prevailing in the country. Our business
operations is in Mumbai (Maharashtra) and from past 15 years there is a stable government so it
would not be affected by political factors.

ECONOMIC FACTORS

Economic factors can affect in long run. But at present economic factors don’t have a big
influence on it.

SOCIO-CULTURAL FACTORS

Since the product is completely technology based product it would not affect anyone’s social,
religious feelings.

TECHNOLOGICAL FACTORS

Since product is completely technology based product introduction of new technology will
affect market of the product.

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SEGMENTATION
SEGMENTATION
Segmentation is the process of dividing the whole market in different segments which are
homogenous within the segment and heterogeneous outside. “Global solutions” has segmented its
market on the basis of

GEOGRAPHIC

The product will be first launched in metropolitan cities like Mumbai, Bangalore, Hyderabad,
etc.

DEMOGRAPHIC

Generation: New generation will easily accept the product.

Income: Middle and Higher class people can easily purchase the product.

PSYCHOGRAPHIC

Lifestyle: The product will have a stylish look so people for whom lifestyle is important will get
attracted toward the product.

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TARGET MARKET:
After segmentation the second thing is to serve the target customers so “Global solutions”
targeted the:

PRIMARY TARGET MARKET

Our primary target market is the Business Enterprises who need hardware for quick
applications in one click.

SECONDARY TARGET MARKET

Our secondary target market is the Students, home users and:

The people from Upper classes

The people from middle classes

POSITIONING
The core strategy is the matching of company strengths and market opportunities and has
two components:

1. Identification of group of customers to whom the company can clearly show it has a
differential advantage.
2. The firm needs to position its offerings in the customer’s mind.

Our first priority is to maintain the good image of our brand in the mind of our customers by
introducing a new product of good quality. We have to position our product in market in a way that
can attract more loyal customers.

Firstly we have created a brand logo which is different from our first logo but we have collaborated
both the logo which was in use or in the market previously. Hence the market has an idea of Global
solution from last 2 years

And we built in the trust in the prospects mind buy thinking beyond the future strategy and we have
proved it previously.

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MARKETING STRATEGY DEVELOPMENT

Marketing strategy is divided into three parts

1. market size:
We are targeting the market from different occupation like business organization, educational
segment, hospitals, general uses.

2. market share:
Business organization : - 30%

Educational : - 35. %

General uses : - 35%

Profit margin in 1st year = 20 per cent

Cost of the mouse is 999/unit.

Companies aim is to sale 10, 00,000 units of product. . .

FOUR P’S
PRODUCT:
Business and education concern people are very conscious about the quality products that
their Employees/students are supposed to use, keeping in view the requirements of them we have to
retain the competence of quality meanwhile making the product colorful and eye catching.

PRICE:

Price is one of the revenue generating elements of the traditional marketing mix, and price premiums are one
of the most important equity benefits of creating brand awareness and strong, favorable and unique brand
associations. To set the price consumer perception and value of the product should be kept in mind.

Cost of the mouse is 999/unit

PROMOTION:

We will use print media and outdoor advertising for its promotion. However in spite of this
we will also use many tools in its promotion like:

1. Publicity-through word of mouth.

2. Outdoor Media-Advertising, Newspaper, Hoardings
3. Radio, television.
4. DIGIT and other technology magazines

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PLACE:

Placement plays a vital role in the life cycle of product so we will place our product at:

1. Franchise showroom
2. Shopping malls
3. Target retailers
4. Direct selling (online selling)

As we have to develop a strong distribution network so we will use that distribution channel and
network that is key factor in distribution procedures. Company has a very distributer network all over
the India and has maintaining good and long lasting relationship with distributors and vendors.

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ADVERTISING CAMPAIGN
PRE-LAUNCH:

Choice Of Brand name for the product

Design the Logo.

Preparation of Print Ads.

Outdoor site Selection (Billboards)

LAUNCH:

Ads in Times of India, Economic times and regional newspapers.

Launching Ceremony in J.W. MARRIOT , MUMBAI

POST LAUNCH

Placing of hoardings at main roads of Mumbai Pune express highway, on the bus-stop and on
the bus

Run the add on Radio Fm 98.3 and FM 92.7.

A TVC for cable television

MEDIA

The awareness campaign should be run on the Following media:

Newspapers

IT Magazines

Hoardings

Radio

Cable

ADVERTISING

A series of print ads should be developed for targeted placement

The ad size should range from full page to quarter page for different magazines, newspapers
and trade publications.

Posters and brochures are developed for sending them to different outlets and corporate
sectors.

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