A Report on New Product Marketing Plan

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Executive Summary
We gladly present you our report on marketing plan. We have prepared the report
on the marketing plan of our new product. This report is prepared on the basis of
both primary and secondary data. We also have prepared a billboard and a
television ad for our product. Primary data was collected by our group members
and secondary data was collected by useful websites.
Although the main purpose of the report is to describe the whole process of
developing and promoting our product in marketing area. We would like to express
our gratitude to you for your tiresome effort for us which provided the opportunity
to complete this project.”
The name of our company is “Fashionable Life”. “Fashionable Life” is a
manufacturing company which produces women accessories like handbag, zipper
bag, purse etc. We want to market a bag “Crossbody Handbag”. For this, we have
survived marketing and product strategy and create effective plan to promote the
product with selling. We have set a reasonable price for the product so that all
kinds of people can afford to buy the product. We have followed the target costing
pricing approach. We would gain a competitive advantage, as this is a first hit in
the market.
Our target market includes women, girls and women students, which we have
segmented from the Demographical, Geographical, Psychographic Behavioral
point of view.
Since this is a ladies bag, once the product is well promoted, we hope that this
product will be sold well.

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Table of Contents
No. Contents Page No.
1. Company Introduction 3
2. Product Review 4
3. Advertisement 5
5. Competitive Review 6
6. SWOT Analysis 6
7. Market Share Analysis 8
8. Market Profitability Analysis 9
9. Product Distribution 10
10. Marketing Strategy 11
11. Market Expense-to-Sales
Analysis/Financial Analysis
13
12. Conclusion 14
13. References 15

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Company Introduction
Ours is a manufacturing company of women’s accessories (especially women’s
handbags). The name of our company is “Fashionable Life”. Our company
produces women’s various accessories like zipper bag, crossbody bag, clutch and
zip clutch of various designs and colours.
Picture: Logo of “Fashionable Life”
We have tried to get financial success with our own company’s brands and this
success has led a number of deals for licensed watch lines. And so we have
launched a new product (Crossbody Handbag). We want to crate market planning
for this product in order to accomplish organizational goal. For this, we have to
analyze product review, product strategy, market profitability control, market share
control etc.

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Product Review
Product Type : Crossbody Handbag
Color : Purple
Weight (Kg) : 0.35
Main Material : Leather
Waterproof : Yes
Fabric Lining : Yes
Zipper : 3 Pcs
Price : 800/=

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Advertisements
We know that advertisement of a product is a must for marketing communication
to promote selling. The purpose of advertising may also be to reassure employees
or shareholders that a company is viable or successful. An advertisement of a
product has given a message about a product that are usually paid by sponsors. The
advertisement may focuses via mass media such as radio, television, magazine,
newspaper, blogs, websites etc.
We have prepared advertisements for our company’s product. We have designed a
billboard and television ad. used to focus our brand’s product design and quality.
Billboard Advertising:Billboard are almost large structures which display
advertisements to passing pedestrians and motorists. It can be placed with large
amount of viewers. So we have prepared a medium structured billboard.
Television Advertisement: Television ad. is the commonly used advertisement in
the present world. The advertisement focuses the message of a individual product
through virtual technology.

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Competitive Review
Every business must has a competitor. So in order to achieve organizational goal, a
business must analyze the competitors of its product.
The competitors of our manufacturing product (Crossbody Handbag) are described
below-
(1) The brand name “Fossil” is a strong competitor for our product. This
company is one of the largest women accessories manufacturer company in
U.S.A. The company also supplies the product in Bnagladesh.
(2) Other companies like Apex, Ecstacy, Nexus, Afrah Fashion etc are
competitors in our company’s product.
SWOT Analysis
Our product existence in the future is depending on its strengths, weakness,
opportunities and threats analysis:
Strengths:
1. Available input materials (including leather, artificial color etc).
2. Low production cost.
3. Technological and marketing knowledge.
4. Strong distribution channel.
5. Easy manufacturing process.
6. Reasonable price.

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Weaknesses:
1. It is easy to copy the idea by others.
2. Deign of bags slightly differ from other company’s bags.
3. Various Competitors (including foreign & domestic industry).
4. High material cost (especially zipper).
Opportunities:
1. Monopoly market.
2. Large market.
3. High demand.
4. Might have a chance to get subsidies by Govt. to export.
Threats:
1. High competition in future by copying the idea.
2. Entrance of new product.
3. Alternatives are avoidable in some segment.
4. Uncertainty of launching a new product.

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Market Share Analysis
Market share analysis is a part of market analysis and indicates how well a firm is
doing in the marketplace compared to its competitors.
We have found that the Company “Fossil” has achieved about 40% market share in
the market area. Others company like Afrah Fashion, Nexus, Bata, Shimmer,
Yollow has overall 50% market share. We have focused a pie chat that helps to
show the market share of the women accessories companies-
Generally sales experience of “Fossil” Company is very high. So we have said that
our product sales experience is average. “Fossil” and “Afrah Fashion” are our
largest competitor.
Market Share
Fossil
Afrah Fashion
Fashionable Life
Other Companies

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Market Profitability Analysis
Profitability analysis is a component of enterprise resource planning (ERP) that
allows administrators to forecast the profitability of a proposal or optimize the
profitability of an existing product. Profitability analysis can anticipate sales and
profit potential specific to aspects of the market such as customer age groups,
geographic regions, or product types.
We will illustrate the marketing profitability analysis of our product with a table-
July-2016
Description Taka
Sales
Cost of goods sold
Gross Margin
Expenses:
Salaries 10000/=
Rent 5000/=
Supplies 5000/=
Others 5000/=
Total Expenses=
Net Profit (Total)
90000/=
40000/=
50000/=
25000/=
25000/=
We have found that we earned revenue in 28% from sales in July-2016. We have
said that the sale is not so high from the expense of cost of goods sold. If we want
to increase our company’s sales, we have to understand these-
(1) Cost of goods sold must try to decrease as much as possible.
(2) Should increase sales distribution network.
(3) Must try to decrease other expenses.
(4) Promote product price strategy.
(5) Should expose good product view in the market area.

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Product Distribution
Distribution is critical for every startup. It’s all too common for a startup with a
great product to fail due to lack of distribution. So we have to develop our
distribution channel very well. Our “Fashionable life” can be delivered through
multiple channel types. Betting on one type of channel is extremely risky. Even if
we land a partner, we may not be able to control our performance. Think about all
of the options. There are some examples: Retailers, Wholesaler/distributor, VAR
(value-added reseller), Consultant, Sales agent, through Internet, catalog, and
specialized internal sales team.

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Market Strategy
Our company wants to develop and introduce a new Product. So, we have gathered
information through in-depth interviews. We made a survey of the market to have
a clear idea about our market, our customer demand, needs and wants. This
information helps us to know about the current market and prospects of our new
product.
Now-a-days people are now-a-days very much concerned about the market and
product conditions. So we have a growing prospect of customers of our product
”Crossbody Handbag”.
Market Segments: We have observed and analyzed the market and based on the
nature of the market we segmented the market in the following sectors:
Geographic Segmentation:
1. Dhaka
2. Sylhet
3. Rajshahi
4. Khulna &Barishal
5. Chittagong
Demographics Segmentation:
1. Individuals
2. Family
3. Actress
4. Business buyer
Psychographics Segmentation:
1. Higher class

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2. Higher mid class
3. Middle class
Behavioral Segmentation:
(1)Women (especially college/university students)
It has found that, college/university girl students use the bag for carrying their
books. So, we can place our store near colleges or universities. Our company can
create online shopping so that customer gets new experience for purchasing our
product.
Our company wants to develop and introduce a new Product. So, we have gathered
information through in-depth interviews. We made a survey of the market to have
a clear idea about our market, our customer demand, needs and wants. This
information helps us to know about the current market and prospects of our new
product.

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Market Expense-to-Sales Analysis &
Financial Analysis
A company should analyze the expenses-to-sales ratios in an overall financial
framework to determine how and where the company is marketing its money.
The total expense of per bag are given below-
Description Cost
Selling Price (Per Bag)
Raw Materials-
Leather
Artificial colour
Zipper (3 Pcs)
Other Materials
Total Cost=
Profit (Per Bag)
800/=
150/=
50/=
50/=
50/=
300/=
500/=
We have already had said before that our company had advertised our product
through television ad and billboard. So we have financed in advertising
expenses. Moreover we have hired employees, rented a shop for selling.

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Conclusion
We have discussed the full description of the marketing plan of our product.
Actually preparing marketing plan for a product helps to promote organization
recognition and enhance product selling. We have tried our best to prepare our
report. We think this report will definitely help to achieve business ideas for the
new comers and students.
The report will help to get idea for the development of social, economic and
nation. Every person and organization has some responsibilities to the nation and
the country. Having these responsibilities we thought of such kind of product
which would be a useful product for the targeted consumers and profitable for the
company. That’s why from many ideas we have selected the idea of this new
product by developing financial situation of our country.
So, we can say that the product “Crossbody Handbag” is a product by which we
can earn a huge profit and fulfill our national responsibility.

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References
(1)Principles of Marketing by Philip Kotler (Appendix- 1)
(2)https://www.boundless.com
(3)https://www.wikipedia.org
(4)https://www.google.com/imghp?hl=en&tab=wi&ei=K
KkLV_-nAYzF0gSHwrKQBw&ved=0EKouCBYoAQ