Principles of Management

Tropic: Assignment on planning process or steps to launch new product

Supervised ByMrs. Mahbuba Sultana

Course instructor,Principles of Management

Northern University Bangladesh

Submitted To:Department of Business Administration

Northern University Bangladesh

Submitted By:Section- A

Sl No Name ID01 S.M. Al-Shahriar BBA 120304790

Submission Date: 25-12-2013I am the manager of SWOPNO . I want to launch some new products in my shop, like: shoes, curtains, jewellery, home applicances etc. so that customers can get all of their necessary

things under a single roof. Now i am going to disclose how will I plan to launch these items in my shop.

As a manager of S WOPNO my planning process or steps to Launch new product in my shop :-

1.BEING AWARE OF OPPORTUNITY

In light of:→ The Market of that product→ Competition in market→ Our Strengths→ Our Weakness

2. SETTING OBJECTIVES OR GOALS:

→Where we want to be?→What we want to accomplish?→When we want?

3. CONSIDERING PLANNING PERMISES:

→In which environment we are going to launch our product.

4. IDENTIFING ALTERNATIVES:

→What are the most promising alternatives to accomplishing our objectives?

5. COMPARING ALTERNATIVES IN LIGHT Of GOALs SOUGHT:

→Which alternative will give us the best chance of meeting our goals at the lowest cost and highest profit?

6. CHOOSING ALTERNATIVES:

→Selecting the course of action we will pursue for that product

7. FORMULATING SUPPORTING PLANS

→Buy equipment→Buy materials→Hire and train workers→Develop the new product

8. NUMBERIZING PLANS BY MAKING BUDGETS

Develop such budgets as:

→Product’s Volume and price of sales→Operating expenses necessary of plans→Expenditure for capital equipment→Develop the product