Np Project Deliverable
- 2. Description of the New Product IdeaA 1-paragraph verbal description of your “finalized” new product idea.
- 3. Trends & Unmet Consumer NeedsTrends affecting the industry & unmet consumer needs, with the implications for your new product idea (attach articles you found in your research & any interesting & relevant new product examples). Use these to support why your new product idea makes sense to introduce now.
- 4. Industry AnalysisProduct life cycle stage
- 6. Industry size & growth rate
- 7. Competitive strategies & actions vis-à-vis new productsA Market Structure ChartShow the key market segments in your category & where your new product will fall in the structure. Indicate which are the highest growth segments.
- 10. Perceptual Maps3 perceptual maps that show on an XY axis, the key attributes consumers of the category value most, & how your product will have a meaningful point of difference vs. its competitors.
- 12. Hypothetical Perceptual MapThis Does Not Reflect the Thinking of Apple
- 13. GentlenessOptimalPlace to beTylenolBufferinAdvilNuprinExcedrinBayerPrivate-LabelaspirinEffectivenessAnacinOptimal Place to Be Perceptual Map of Pain Relievers
- 14. Concept Board(s)Pre & Post Consumer Research
- 15. The Ideal Concept Board
- 16. Pre & Post QualitativeTesting Concept BoardsSubmit the concept board you showed consumers & a final board with the changes you made based on their feedback.
- 17. Marketing Research Key FindingsSummarize the reaction of consumers to your idea, what you learned from the qualitative research, & how you decided to adapt your product as a result.
- 18. Product Line DescriptionDescribe: The product & it’s key attributes or features
- 19. The items in your line
- 20. What % of the total volume each item is expected to contribute.Brand Positioning & Rationale Provide a 1-sentence brand positioning statement with rationale as to why you picked the target audience, competitive frame, point(s) of difference & end benefit.
- 21. Will you add more targets over time: Which & when?For Each Major Brand, aBrand Positioning StatementTarget AudienceFrame of ReferencePoint of Difference End BenefitExampleTo target audience, brand X is the frame of reference/competitive set that point of difference which is good because end benefit.(Should include the rationale for each element)
- 22. Samsung’s JitterbugTo Seniors, (Target)Samsung’s Jitterbug is the cell phone (FOR)That has a large display & big buttons (POD)Which is good because it will be easier to see & you won’t need to put on your glasses. (End Benefit)
- 23. The DisneyPhoneTo parents of young girls,the Disney phone is the means of communication between you & your daughter, that your child will want to carry, which is good because now you can always reach them.To little girls, The Disney phone is the cell phone that’s pretty & has one of your favorite characters which is good because now you can call your friends or your parents when ever you want.
- 25. Volume ForecastProvide a volume forecast for years 1-5, using the BASES model or a “bottom up” approach. Use your best guess & include the key assumptions of your forecast.
- 26. New Product Total Volume ForecastTrial Volume# of Households in Target PopulationTrial RateAverage Trial Units Per PurchaseXX+Repeat Volume # of Trying HouseholdsRepeat RateRepeat Purchases Per RepeaterAverage Repeat Units Per PurchaseXXX
- 27. BASES Type Test ResultsProject quantitative research results that will serve as the basis for your volume forecast & sources of volume. What trial rate will you have?
- 28. What repeat purchase rate?
- 29. Average number of repeats/yr
- 30. Average amount per purchase occasion
- 31. Whatwill consumers be switching from to purchase your product or service?Packaging, Branding, Name If using a package or brochure, describe the package & ideally show an example with the key visual & communication elements.
- 32. Provide your branding/naming recommendation, any name subheads, branding/name rationale & relation to other items under same trademark.Pricing Recommendation Provide a pricing recommendation relative to competition, other items in the trademark & the brand’s overall positioning & strategy:
- 33. Is it a premium or value brand?
- 34. Is it price skimming or going for maximum penetration & share as fast as possible?Geography, Test Market & Roll-OutDo you plan to test market the brand? If so, what type of test market & for how long?
- 35. What will be the phasing of the roll-out/sequence/timing?
- 36. What will be your high opportunity markets, where you will market the product most aggressively & why?Marketing for the Polish bank will be done in markets with the highest concentrations of Polish immigrants such as:- Birmingham- Liverpool- Edinburgh- Manchester
- 37. Seasonality Create a monthly seasonality index based on when you think the product would sell most & least.
- 38. When will the product be introduced, in light of category seasonality & company’s fiscal year?Seasonality Index% of brand’s business in month8.5%JFMAMJJASOND 85 70 80 110 160 135 110 85 50 45 90 61
- 39. DistributionIn which channels will the product be sold?
- 40. Provide the % of volume from each channel & whether you will add new channels over the 5-year timeframe.Overarching Creative TaglineDevelop a memorable, overarching, integrated marketing message or tagline that describes the brand’s key point of difference & will be communicated in all marketing elements.
- 41. OverarchingCreative IdeaBecause there’s so much resting on your tiresWhen it absolutely has to get there overnightYou deserve a break todayBecause you’re worth it!
- 42. Launch Marketing Ideas & Integrated Marketing FlowchartProvide Year 1 & “ongoing” marketing budgets for the P&L.Provide launch marketing ideas to create awareness & repeat purchase for the new product.Create an integrated marketing flowchart to show the key marketing activities.
- 44. Projected 5-YearCash Flow StatementYr 0Yr 1Yr 2Yr 3Yr 4Yr 5Sales Revenue 0 $11,889 $15,318 $19,654 $28,253 $32,491Cost of GoodsGross MarginDevelopment costsMarketing costsAllocated overheadNet operating incomeImpact of cannibalizationNet contribution Discounted contribution -3,500 -1,113 1,6911,8772,343 2,346Cumulative discounted cash flow -3,500 -4,613 -2,922 -1,045 1,298 3,644 Breakeven XPayback XMake some assumptions but don’t agonize over it!
- 45. Sensitivity Analysis/Risks & Hedges What could go right to make your new product even more successfulWhat could go wrong that would cause the product to perform worse than projected?