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It’s a “CREATIVE THINKERS” Presentation

New Product development : Anti Radiation Chip

PRESENTATION ON

Submitted To : Saud Ahmed Lecturer Department of Finance Jagannath University.

Submitted ByRafiqul Alam KhanGroup representative of “Creative Thinkers”Date of Submission: 24/05/2012

GROUP MEMBERS OF “CREATIVE THINKERS”

Serial No.

Name Roll No

01. Rafiqul Alam Khan B110203126

02. Rakibul Haque B110203079

03. Helal Chowdhury 115315

04. Reshma Akter B110203042

05. Alim Ehsan Dipon B110203105

CONTENTS

Executive Summary

Company Overview

New Product Development

Idea Generation and screening.

Concept development and testing

Characteristics , Use, Working Capacity of the product.

Market Strategy Development Trend, Growth , Needs ,Situation Analysis, Market Geographic, Positioning, Market Mix,

Business Analysis SWOT analysis, Competitors, Sales analysis.

Product Development Product out look, Product weight, color and contents, Review and Control

Objectives Core and Financial Objectives, mission and vision of the product.

Test Marketing Market targeting

Commercialization

Conclusion

EXECUTIVE SUMMARY

Importance of New Product Development in a country is increasing day by day for providing product with punctuality at affordable price and always has to maintain superior quality according to buyer’s requirement.

Anti Radiation Chip which is the new product of Global Trade Network is the hypothetical start up. It is a device by which radiation eradicates from electronic devices such as Mobile Phones during talking, Laptops and many other devices during operations.

Anti Radiation Chip neutralizes the negative effects of EMR by changing the quality of the Electro Magnetic Field rather than reducing the EMR intensity.

The Anti Radiation chip is based on a revolutionary anti-electromagnetic field technology with proven biological laboratory testing to eliminate damaging effects caused by electro-pollution.

By launching this product Global Trade Network will maintain social responsibility such as concerning people about the harmful effect of EMR as well as increase in the sells of the product.

COMPANY OVERVIEW Global Trade Network is a pioneer, dynamic,

professionally managed business organization has Strong experience in the field of Information Technology.

Our business is completely automated and online with strong support team dedicated and committed for success.

We at Global Trade Network are with the right support system, right products for the right people.

Global Trade Network supplies products and services to the Government & Non Government organization.

NEW PRODUCT DEVELOPMENT (NPD)

New product Development (NPD) is an important task for a company.

Every product has a life cycle. As a result a company has to improve or update its product to keep pace with the market’s demand.

We can see the following flow-chart circle to understand new product development-

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 EMRs created by cell phones power lines and other technologies are Carcinogens.

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 getting 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 SCREENING

We have considered many new products for development . But we 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 we are maintaining social responsibility.

We choose this product because it’s demands, great investments. In this modern world of information technology such a product like this is really needed.

CONCEPT DEVELOPMENT AND TESTING

An attractive idea must be developed in concept development and testing stage. It is very much important to test idea in market as well.

 Concept development This stage includes 3 steps and they are given below in

the basis of our product1.Purchase affordability-Our products price range is in

the reach of general people so the concept suits. 2.Characteristics-Its easy bearing and skinny condition

pick the satisfaction and value of the customers.3.Social Duties-Our product eradicates the harmful

radiation thus it maintains social duties.

Concept Testing It is the process of testing new ideas with groups or

target customers. Our Product will be tested symbolically or physically to judge the competitive market.

MARKETING STRATEGY DEVELOPMENT

SITUATION ANALYSIS

We are now in growing state so our cost is literary much higher in promotional and In R & D sector.

We are now trying to minimize our cost.

Now market is going normally but there is a need and scope for a new product like this.

MARKETING STRATEGY DEVELOPMENT MARKET TRENDS

A company should analyze the market trends to sustain in the market with a new product with new features.

Here we have taken the product- Anti Radiation Chip to help human being from the dangerous effect of radiation. This quality of the product will hopefully capture the market.

MARKETING STRATEGY DEVELOPMENT MARKET GROWTH

The market growth stage is very much important for a new product.

When a new product satisfies the market it will enter a growth stage. Then the sales will start climbing quickly.

So, there have to use several strategies to sustain rapid market.

MARKETING STRATEGY DEVELOPMENT MARKET NEED

Market needs are the integration of the needs of all consumers of the market.

People normally use mobile phones, laptops, and many electronic devices. If they aware about the harmful effect of radiation, the chip will be a must needed thing for them.

Thinking about the market needs we have brought a new chip in the market with some attractive features.

MARKET SEGMENTS

Geographic:

Anti Radiation Chip has no specific geographic target area in Bangladesh but we prefer both urban area and rural area. People can use this chip in all area of our country.

Demographic:   People of all classes may use it. Male, female and young people

can be able to use it. People who are educated are major concerning customer. People who are involved in earning and lead a prosperous life also our concerning customer.

MARKET SEGMENTS

Behavior Factor: Young people specially students and

educated people will prefer our product most. Old as well as matured people will also like it because of its importance.

Psychographic : This segment will divide the market

based on customer knowledge , attitude or response to the product.

PRODUCT DEVELOPMENT

Product outlook: 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 DEVELOPMENTProduct color: We are using various colors in our anti radiation chip

because we know that various people have various taste of choice. And we 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.

The inner chip of ‘Anti Radiation Chip’

TEST MARKETING

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.

Before introducing the product we will test products acceptability in the market without taking the risk of full marketing that is called test marketing.

SWOT ANALYSIS

The analysis of strength, weakness, opportunities and threats. SWOT analysis is the most effective analysis in the field of business. You can see that this analysis has four part or meaning .

SWOT ANALYSIS

Strength It’s a totally new feature. Easy to use. Provide comfort from the

special dangers of cell phone Electromagnetic Radiation.

Suitable for almost all types of mobile phone and electronic devices which emits electromagnetic radiation.

We ensure product differentiation.

Weakness Production cost and

price would be higher. No brand awareness of

the new product as a set up company.

Lack of depth industry experience and insight.

Many people don’t really know what radiation is? So, do they inspire to buy it

SWOT ANALYSIS

Opportunities It will enjoy less

competitive because this kind of product is not yet come in the market.

That’s why it will be available to earn more money than other existing product of this company.

Threats Larger companies such

as-Nokia, Samsung, DELL Computers may publicized that their products do not produce any sort of damaging radiations.

They may also publicize a negative approach against this Anti radiation chip.

MARKET COMPETITORS

As a product like Anti Radiation Chip there are hardly any competitors sustain in Bangladeshi market.

But services like Software firm, IT firm there are too many competitors for Global Trade Network in the existing market.

PRODUCTS MISSION & VISION

Mission: To ensure the quality. To satisfy customers needs and wants. To bring a revolution in the history of

technology.

Vision: Anti Radiation Chip will exceed the

expectations of customers.

MARKETING OBJECTIVES

Core objectives   Maintain positive, not withstanding seasonal sales

patterns. Achieve a steady increase in market penetration. 

Financial objectives   Increase the profit margin through efficiency and

economy. Maintain a significant research and product developments.

MARKET POSITIONING Anti Radiation Chip exists in the market on

the basis of competitive price, maintain stick delivery schedule and standard quality products.

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

In the meantime, people are getting sick by harmful Electromagnetic Radiation. We have to consider the fact of market position of ours in case of launching a new product. The main term we have to determine that are we market ruler or market challenger, or are we market follower.

MARKET TARGETING It means the process of evaluating each

market segments attractiveness and selecting one or more segments to enter.

At first, We target the people who are involved in educational sector, services sector and so on. There are some points that we target to provides our products.

If we can provide our Anti Radiation Chip among people of all classes properly, we get more profit. Because educated people can realize the necessity of it.

MARKETING MIX

The 4p’s

PRODUCT

The chip neutralizes the negative effects of EMR by changing the quality of the Electro Magnetic Field rather than reducing the EMR intensity. The chip’s KERT shield technology component emits subtle low frequencies (the ‘noise field’) of electromagnetic oscillations that resemble resonance frequencies of living cells in the body.

PRICE LIST OF THE PRODUCT

Product Category Country of origin pricing

Anti radiation mobile chip

Bangladesh 500 ৳

Anti Radiation Laptop Chip

Bangladesh 850 ৳

PRICE AND PLACE Price Companies set prices by selecting a general pricing

approach that includes three set of factor the cost base pricing, value base pricing, competition base pricing. Global Trade Network Limited sometimes charge it products

price more that or less then its major competitors.

Place Initially Anti Radiation Chip will supply to institutional

markets directly. In the second year of operation the product will be launched under “Global Trade Network” brand in few major town of Sylhet, Chittagong, Rajshahi, Khulna, Barishal, and Rangpur, at select outlets through authorized dealer.

 

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.

The way we want to promote our product are given below.

PROMOTIONAL ACTIVITIES

Television Ads Radio Ads

SALES ANALYSIS

Sales forecast is a statistical analysis very useful to determine the sales amount or product releasing.

Global Trade Network feels that the sales forecast figures are conservative. It will steadily increase sales as the advertising budget allows.

Although the target market forecast listed all of the potential customers divided into separate groups, the sales forecast group customers into different categories.

Reducing the number of categories allows the reader to quickly discern information, making the chart more functional.

 

REVIEW &CONTROL

Similarity or differences in assume production and real production

Similarity or differences in assume marketing and real marketing.

Revealing the fault in production and marketing.

Take remedial measure. Control product quality. Maintain quality development according to

price.

COMMERCIALIZATION

Commercialization means that introduction of product to outer world for selling and business.

Timing : Anti Radiation Chip lunched in any time after performing previous steps.

Location : Primarily It can be sold in our country.

PRODUCT LIFE CYCLE STRATEGIES

After launching the product, Global trade network’s management expects the product to enjoy a long and happy life.

Although it does not expect the product to sell forever, the company wants to earn a decent profit to cover all the effort and risk that went into launching it.

From the analysis we can say that Anti Radiation Chip 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.

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.

Creative Thinkers

THANK YOU FOR NOT BEING ASLEEP