New Product Marketing Planning

TOPIC ANALYSIS:

New Product Development: New products are the lifeblood of a company. As old products mature and fade away. Companies must develop new ones to take their place. The development of original products, product improvements, product modifications, and new brands through the firm’s own product development efforts.

The New Product Development Process:

Companies face a problem- they must develop new products, but the odds weigh heavily against success. In all, to create successful new products, a company must understand its consumers, markets, and competitors and develop products that deliver superior value to customers. It must carry out strong new. Product planning and set up a systematic, customer-driven new product development process for finding and growing new products. The eight major steps in this process are given below:

Our New Product Development Idea:

For developing new product successfully, a company must understand its consumers, markets, and competitors and develop products that deliver superior value to consumers and take a plan. The systematic source for our products idea. We have developed our product by using both sources.

§  Internal idea sources:

•      R & D

§  External idea sources:

•      Customers,

•      Competitors,

•      Distributors,

•      Suppliers.

New products are important to both customers and the marketers who serve them. For companies, new products are a key source of growth. In this report, we are showing our new product development idea. Our new product development idea is about a “Natural Anti-Dandruff”.

“Natural Anti-Dandruff” is one kind of antifungal but it is different from antifungal because “Natural Anti-Dandruff” protects the crops from fungal but it does not kill fungal. There is various antifungal in the market. They have different categories and different prices. But our new “Natural Anti-Dandruff” is totally different from all the antifungal in the market. “Natural Anti-Dandruff” is environment supported. “Natural Anti-Dandruff” is produced from Neem, Tulsi, Natural Sulpher, Virgin Olive oil, Cinnamon, Jatamansi, Durva, and Punnaga leaf & flowers or fruits.




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