a project on a new product development. the product is an electronic band stp analysis 4 P's survey report

1. New Product Development
SUBMITTED BY:
PRATIK DHANWANI (1120021)
SROMONA BANERJEE (14202072)
SUSHMITA NAYAK (14202079)
HARPREET KAUR (14202096)
RU BISWAS (14202128)
NIRMALAYA DEBNATH (1481015)

2. MARKETING PLAN
• A marketing plan is a BLUEPRINT that elaborates a systematic, interconnected, logical step by step
processes of achieving marketing goals.
• It analyses :
 The internal and external environment,
 Markets,
 Competitors,
 Specifies the marketing objectives,
 Necessary strategies,
 Tactics,
 Resource allocations,
 Controls the other actions required in connection with attaining marketing goals in an efficient and effective
manner.

3. 1. Product selected : E-BAND (an electronic hair band).
2. Product details:
 Rubber, polyester material band that’s stretchable fitted with a vibrator and a mode switch
with which we can regulate the speed of vibration.
 Warranty of 6 months
 New to the market, that is unisex
 Colour- black, dark blue, brown, red
 Alternative use of wearing as an accessory.
 Can fit at any size- stretchable
 Price: 400/-
 Availability- online and offline
 Rechargeable battery option
 Easy to carry

4. A. ENVIRONMENTAL ANALYSIS:
Porter’s five forces-
I. Threat of substitutes: as it automated unlike other band.
II. Threat of new entrants: high, as companies like Philips, Sony were the strong
brands which are already there in the market.
III. Bargaining power of suppliers: low, as there are no other competitor in the
market, as well as the cost of the battery and motor to be used are pretty low.
IV. Bargaining power of buyers: low, as the product is new and for the targeted
customers.
V. Existing rivalry among competitors: nil

5. B. MARKETING STRATEGY:
STRATEGIC- STP
SEGMENTING:
1. Needs based segmentation: basis since the need of such a product like e-band since
popping up pills for headache has harmful effects.
2. Segment attractiveness: pretty high because it is wearable as an accessory,
portable, rechargeable and can be moderated in terms of vibration.
3. Segment profitability: product likely to succeed as consumers will get to first
source it from their reliable medicine shops, electronic shops, cosmetic shops &
parlours.
4. Behavioural segmentation:
 Works under stress/ targets
 Young and tech- savvy
 Willing to try out new things
 Fair amount of disposable income in hand.
5. Geographic segmentation: people living in cities and metros.

6. TARGETING
 Target group (demographic profile)
 Age: 21 to 30 years
 Occupation: -working
-Students in professional courses
 Gender: men and women.
POSITIONING of the product: new to the market, moderately priced, that is an easy
solution for that nagging headache.
Available from reliable and frustrated points like medical stores, cosmetic stores and
parlours.

7. 4PS OF MARKETING:
 Product: head gear. A head band with a vibrator that gently massages the scalp and also
wearable as an accessory by both men & women.
 Place: it will be available through electronic shops, medicine shops, parlours, big
cosmetic shops and online since our target group is young, earning and educated.
 Price: range of : 400-500. Low priced as compared to other that are already in the
market.
 Promotion: - banners, posters in front of it hubs, b-school and colleges.
- Pamphlets given with newspapers
- Pamphlets given to clients in medicine shops, parlours, electronic shops.
- BTL communication at the stores level.

8. CUSTOMER RESEARCH
 Sample size – 25
 Type of research: non profitability convenience sampling
 Sample populating: young working professionals, B-school students.

9. KEY FINDINGS
 73% of the sample agrees that they often take analgesic tablets like Disprin, Saradon to get
relief from headaches.
 Around 81% said that they would prefer to use the e-band for headaches than medicines.
 Around 66% said that they would be happy to use a product like e-band as it saves time.
 86% of the respondents said that they would go for this product instead of spending
money at parlours for head massages.
 Online stores and offline stores were both preferred. With offline being better preferred.
 62% of the respondents said it would be easy to carry in offices or places of work.

10. THANK YOU