BUP MarketingManagement NewProductDevelopment

8/11/2019 BUP MarketingManagement NewProductDevelopment

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Marketing management is a business discipline which focuses on the practical application

of marketing techniques and the management of a firm's marketing resources and

activities. Globalization has led firms to market beyond the borders of their home countries,

making international marketing highly significant and an integral part of a firm's marketing

strategy.[1] Marketing managers are often responsible for influencing the level, timing, and

composition of customer demand accepted definition of the term. In part, this is because the

role of a marketing manager can vary significantly based on a business's size, corporate

culture, and industrycontext. For example, in a large consumer products company, the

marketing manager may act as the overall general manager of his or her assigned

product.[2] To create an effective, cost-efficient marketing management strategy, firms must

possess a detailed,objective understanding of their own business and the market in which they

operate.[3] In analyzing these issues, the discipline of marketing management often overlaps

with the related discipline of strategic planning.



Marketing Management



In business and engineering, new product development (NPD) is the complete process of

bringing a new product to market. A product is a set of benefits offered for exchange and

can be tangible (that is, something physical you can touch) or intangible (like a service,

experience, or belief). There are two parallel paths involved in the NPD process: one

involves the idea generation, product design and detail engineering; the other involves

market research and marketing analysis. Companies typically see new product

development as the first stage in generating and commercializing new product within the

overall strategic process of product life cycle management used to maintain or grow their

market share.

New Product Development



New Product Development

Process



• Ideas for new products can be obtained from basic research using a SWOT

analysis (Strengths, Weaknesses, Opportunities & Threats). Market and consumer trends,

company's R&D department, competitors, focus groups, employees, salespeople, corporate

spies, trade shows, or ethnographic discovery methods (searching for user patterns and

habits) may also be used to get an insight into new product lines or product features.

• Lots of ideas are generated about the new product. Out of these ideas many are

implemented. The ideas are generated in many forms. Many reasons are responsible for

generation of an idea.

• Idea Generation or Brainstorming of new product, service, or store concepts - idea

generation techniques can begin when you have done your OPPORTUNITY ANALYSIS

to support your ideas in the Idea Screening Phase (shown in the next development step).

Idea Generation



•We are living in the soup of dangerous radiation. Research now links long term exposure

to electromagnetic fields (EMFs) with chronic health issues, from stress, fatigue to cancer.

Overwhelming numbers of scientists now agree that EMFs created by cell phones power

lines and other technologies are Carcinogens. But like any massive public health threat, it

may be years before the talk stops and the action starts. Considering the need of growing

mobile phone, laptop and other electronics device users which emit dangerous radiation, a

new and improved featured Anti Radiation Chip is needed from get rid of such harmful

radiation. In this Anti Radiation Chip there are features that are experienced by any person

before. From this thought the idea of this Anti Radiation Chip has came to light.

Idea Generation



Idea Generation





I have considered many new products for development like Finance calculator, intelligent

clock, Outstanding Battery etc. But I have chosen this product because of its usability,

unique features and also this product will help its user to safe from EMR. Moreover, by

concerning people about the bad effect of radiation I am maintaining social responsibility.

I did not choose those others products because it‟s demands, great investments. In this

modern world of information technology such a product like this is really needed.

• Now I reveal the name of our product. The name isAnti Radiation Chip.

Idea Screening



• Develop the marketing and engineering details

• Investigate intellectual property issues and search patent databases

• Who is the target market and who is the decision maker in the purchasing process?

• What product features must the product incorporate?

• What benefits will the product provide?

• How will consumers react to the product?

• How will the product be produced most cost effectively?

• Prove feasibility through virtual computer aided rendering and rapid prototyping

• What will it cost to produce it?

• Testing the Concept may involve asking a number of prospective customers to evaluate

the idea

Concept Development and Testing



Characteristics of Anti Radiation Chip:

There are some certain characteristics of Anti Radiation Chip which make it

different from other chips.The characteristics of Anti Radiation Chip are given

below:

It is easy very to use.

It can easily bearable.

It eradicates harmful radiation which is detrimental for human being.

It can easily attach with any mobile phone, laptop and other electronic

devices which emits radiation.

It is skinny.It does not need any extra power to work.






How to use the product:

It is very easy to use. There are some guide lines to use it more easily and efficiently. The

guidelines are given below:

Dirt free cell phone, laptop or other electronic device.

Remove the paper from the back of the Anti Radiation Chip.

Fix Chip on backside of phone or other devices close to antenna.




Business Analysis

Estimate likely selling price based upon competition and customer feedback

Estimate sales volume based upon size of market and such tools as the Fourt-

Woodlock equation

Estimate profitability and break-even point



Business Analysis

XTN limited is entering its eighth year of operation. Its productions have been

well received and marketing will key to the development of brand and product

awareness as well as the growth of the customer base. Anti Radiation Chip is a

technical process by which non-visual electromagnetic radiation absorbed by this

chip. So in the booming market of IT, this product will serve well.



Beta Testing and Market Testing

•Produce a physical prototype or mock-up

•Test the product (and its packaging) in typical usage situations

•Conduct focus group customer interviews or introduce at trade show

•Make adjustments where necessary

•Produce an initial run of the product and sell it in a test market area to

determine customer acceptance



Beta Testing and Market Testing

Before launching test marketing we have to gather enough knowledge about

market and make a step of researching. And after research we marketed our

product.

Anti Radiation Chip will position itself as a value for money brand one that is

easy to use, no tension for power up, no need to electricity etc. Global Trade

Network limited competitive advantages are higher quality medium price,

offering more benefit to the customer, feature differentiate the company from the

competitors. Anti Radiation Chip exists in the market on the basis of it,

competitive price, maintain stick delivery schedule and standard quality

products.

Its appeal will be “Get the facts. Take control, Be Safe.”



Technical Implementation

• New program initiation

• Finalize Quality management system

• Resource estimation

•

Requirement publication

• Publish technical communications such as data sheets

• Department scheduling

• Supplier collaboration

• Logistics plan

• Resource plan publication

• Program review and monitoring

• Contingencies - what-if planning



Technical Implementation

Product outfit:

The outer portion of the product must be attractive or skinny

so that it becomes easy to hold. The main objective of

bringing perfection is to make the product choice able to

everybody and make the product beautiful enough that

everybody will want to touch it.Product weight:

This product will be very light so that everyone prefers this

product. We will use very light tech to build or develop it.

Product color:

We are using various colors in our anti radiation chip because

we know that various people have various taste of choice. Andwe change our product color according to the taste of our

targeted customers.

Contents of the product:

The product is made of a chip which is thin and very tiny. The

tiny chip is the property of the semiconductor material silicon.







Commercialization - Promotion

The basic promotional route will be point of purchase material, altercative danglers.

Placed near checkout counter and sample trail. This will be done only for the branded

products. For the institutional markets the major trust will be efficient supply dealer

management, weekly visit to headquarter and major outlets by senior personnel Continues

feedback and multiple contacts with distributor. They way we want to promote our product are given below.



Findings

Findings of the study:

The intention of this study is to examine the New Product Development and its

implementation in the existing market especially in Bangladeshi market.

The company brings innovative products for regenerative IT sector. The aim of the

company is to improve the quality of life by developing innovative products, at present itis working on multiple projects. The major findings of the overall study are discussed

below sequentially:

New Product:

It is a totally new product with new features.

Lacking:

No popular brand name.

People are not accustomed with it.

Product life cycle stage:

This product is in introductory stage.



Conclusion

As Anti Radiation Chip is a new product in our country, so it has some lacking

such as no popular brand name, people are not accustomed with such kind of

product etc. but we hope we can easily overcome these lacking in our nearest

future by providing better quality and creating strong brand loyalty among the

customer. We believe that our people will prefer the Anti Radiation Chip as

mobile chip and as laptop chip etc. after getting the product benefits. Hopefully

in near future our people will realize the harmful effect of radiation and will get

familiar with our product.



Thanks for your attention

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BUP MarketingManagement NewProductDevelopment