Visio Laser Final

NEW PRODUCT DEVELOPMENT

Presented ByBhatta Padhan Pradhan

Mukesh Kumar Basanta Kumar Bishwanath Jitendra Kumar Akhilesh Kumar

NEW PR ODU CT DEVEL OPME NT 

Company Name – OXZONE

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Product- Visio Laser

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Punch Line – Go right ahead

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Company Logo-

Introduction  Product A

description

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

Displayscreen 

Earphone feature

Watch – a possible portable display

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

Manufacturing Process 

Product  TV screen  Antenna  Computer -- Alarm

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Potential manufacturing processes used

Physics/measurement chip radio frequencies, kinematics chip, IT, Blue thooth

Manufacturing Challenges 

Size of the laser/camera (optics, circuitry)

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Durability (accidental collisions)

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

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

Stages in new product Commercialization Test Marketing Business Analysis & Product Development Marketing Strategy Concept Development & Testing

Idea Screening Idea Generation

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

INTERNAL SOURCES Ø Company R&D department Ø Employee Ø Sales people

EX TER NAL SO UR CES Ø Market & Consumer trend Ø Focus group Ø Corporate

Idea Screening By this process we have adopt this idea by taking the feasibility analysis & need of this products in the marketsØWill the customer in the target market benefit from the product ? ØWhat are the industry sales & market trends the product idea is based on? ØIs it technically feasible to manufacture this product ?

CONCEPT DEVELOPMENT qWe have to find out how below concepts are attractive to the customer. 3. It will makes disable (blind) person to independent one toward some extent. 5. Shorter person can be able to see like a normal person. 7. It can be used at the time of war and for security purposes.

CONCEPT TESTING qWe 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. 3. Do you understand the concept of Visio laser? 5. What type of advantage you have got from this product? 7. What improvement do you suggest for this product? 9. What should be price of this product?

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

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PRICE:-Rs-12990/-

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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.

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

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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.

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

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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 h. R&D department -5 crore i. Marketing and advertisement-2crore j. Operation and finance cost-1crore k. Total production cost-7crore 

PRODUCT DEVELOPMENT Ø It is the stage to develop the concept in to physical product. Ø The R & D department will develop one or more physical versions of the product concept. Ø 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 settingsTest Market types: Ø Standard Test market Ø Controlled Test Market Ø Simulated Test Market We have used standard test market for this product.

COMMERCIALIZATION qIt means introducing this product in to the market. 

Introduction Timing-After Summer.

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Location-All metro city in India.

THANK YOU