NEW PRODUCT DEVELOPMENT
- 1. INNOVATION WITH VALUES- ICY-Co . PRESENTED TO Ms APARNA GOEL Sr Lecturer Presented By Sunny Bakshi(56)
- 3. OUR IDEAS…. Forced Relationship, Attribute Listing, Problem Analysis, Brainstorming , etc…. A cold drink with Khas in it… A 100 cc light weight bike for Teens…. A beauty parlor, whenever one needs, wherever one needs…
- 4. I DE A SC RE EN IN G Idea generation Idea screening
- 5. IS IT F EA SI BL E? Bike : High entry barrier, high exit barrier, stable sector with not much growth, existing competition, needs R&D initially - Thus not feasible Parlor : Low entry barrier, immense competition, special need for gaining trust, experience in field important, networking is crucial. – Thus not feasible Aerated Health Drink: New concept, fall in sales in winter. – Thus can be developed
- 7. CONCEPTS…… Concept 1- A Cold drink with KHAS in it as the main flavoring agent and ingredient. Concept 2 - A Cold drink with ALMOND in it as the main flavoring agent and ingredient. Almond being costly, Zero in Khas…
- 8. HOW DID WE PROCEED? A cold drink, yet healthy… Cant carbonation be controlled?.... 3 different amount of carbonation? Or no carbonation?.... No sugar… what with being a health drink… So, no calories either.
- 10. CONCEPT TESTING… Verbal , visual and/or a mock up of a product…. Verbal method can be followed. - Questionnaire can be made and circulated at places like malls etc Focus group interviews can be conducted to know if such a drink will create sensation
- 11. OBJECTIVE
- 12. TO BE A COMPANY THAT DEPICTS INNOVATION WITH VALUES,AND MOVE TOWRDS WEALTH MAXIMIZATION
- 13. PRICING
- 14. Targeting the Market with the Same Price As the Cola Companies-but Highlighting the Health Benefits Drink to be available in Small Packs of 100ml – 4/- specially targeting the Rural Sector. 300ml bottle – 08/- 250ml Canned – 13/- PRICING STRATEGY TO BE USED – PROMOTIONAL PRICING Profit Margin-Rs 04 on each bottle.
- 15. Promotion---Individual Market to Family Market General Launching to be Organized…with eminent personalities from Every sector Promotional Campaign- 1)Through TV –Two separate Adds one targeting the Youths and other the Mothers at Home 2)Through Print-Print ad mentioning all the packaging Variants with Certifications Received 3)Through Radio-Youth Segment
- 16. What's in the BOTTLE INGREDIENTS: Carbonated water High fructose(KHUS) syrup Potassium sorbate Ester gum Ascorbic acid Calcium disodium EDTA Sodium citrate Glass Bottles 200 ml 300 ml Rural areas Tier III Cities Pet Bottles 600 ml 2 litre Middle Class Family Can 330 ml Youth in Tier I and II Cities
- 17. Market Analysis Khus Popular in middle east and Asian Market Potential is there for market to grow. Traditional Drinks to be Promoted.. Fizz Factor---(shelves and Squash)
- 18. Competitor Analysis Cold Drinks (Major) Squash Market (Haldiram,GuruJi) Juice Centers (unorganized as well as Organized like Tropicana and Real) Home Made Drinks Like-Lassi,Nibu Panni
- 19. Strengths Weakness Health Benefits. Seasonal Drink Carbonated+Non Carbonated Rural+Urban Opportunities Threats Different Flavors Large No. of competitors Already Established Market SWOT ANALYSIS
- 20. SEGMENTATION
- 21. Tier 1 cities-Delhi,Mumbai,Bangalore Tier 2 cities-Ludhiana, Lucknow, Chandigarh, Guwahati, Jaipur, Ahmedabad, Surat, Nagpur, Indore, Goa, Vishakapatnam, Mysore, Coimbatore and Kochi Tier 3 cities-Vizag,Guna, Bhuvaneswar and Trivandrum
- 22. Targeting
- 23. Targeting First Attempt Phase-I -Tier -1 and Tier-2 Cities to be covered. Second Attempt Phase-2-Tier 3 Cities to be covered. Bottling Plant at Sona Kondli(Wholesaler) Lal Market Residents of Noida 61-62 Kanchengunga Depot Feedback Received
- 24. Positioning
- 25. Where to place it in the market A New Brand in the Cold Drink Segment A Brand that Can be Positioned as a COLD Drink With Health Benefits A Drink that Will act as a Bridge Between Traditional Squash Market and Modern COLD Drink Market.
- 26. Product Designing Punk Green Variants Available in Sea Blue (safter 2 nd Phase completed) Bottle Cap-Golden In colour Packaging Depicting Clearly the Health Benefits
- 27. WHATS IN THE NAME----EVERYTHING I C Y GR EE N LOGO- SUN SIPPING ICY ON BEACH
- 28. MARKET TESTING Sample Product to be created for the Same. Around 500 bottles of sample product to be made Approaching People In Gym, Parks in the Morning. Testing with Children in the Evening with Mothers in the Parks Simple questions like- a) Are the Benefits Clear. b) Do you see the Product as solving your Problem
- 29. COMMERCIALIZATION Three aspects-When (Timing), Where ,To Whom First Phase- Following Pan INDIA strategy (Ex. Bingo or Reliance Mobile), But will not Cover Major Malls and up- market Locations But with FOBO operations (Franchise Owned Bottling Operations) Analysis Distribution and Sales-Checking Out the Shelf Life Second Phase- With Increase in Market Share Plan to move Towards COBO(Company Owned Bottling Operations) Strategy. So as to achieve Economy of scale. Will Try to cover up all the major locations which were left out in the First Phase.
- 30. THE DISTRIBUTION CHANNEL… COMPANY WAREHOUSE Distribution Carry & Forward Agency R E T A I L S E C T O R PLANT (COBOs or FOBOs ) Alternate Route Alternate Route