Group-1 Sweta & Payal

8/2/2019 Group-1 Sweta & Payal

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New

Product Development

Process of Soap

Prepared By:Sweta Patel (107210592008)

Payal Patel (107210592018)


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Introduction

P & S Ltd. is Mehsana based FMCGcompany, established in 2010.

We are offering home and personal careproducts.

Our company mainly focuses on rural marketthat covers in Mehsana district.


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Mission statement of P & S Ltd.

Company wants to capture all area of

Mehsana within one year and allGujarat within five years.


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NEWSOAP

DEVELOPMENTANDLAUNCHPROCESS


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New Product DevelopmentProcess

The New Product Development Processcontains six steps. That are

1) Idea Generation

2) Screening Ideas

3) Concept Development

4) Product Development5) Test Marketing

6) Commercialization


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1) Idea Generation

In this stage, customers needs andindentifying market is included.

Traditionally in rural areas, people uses thesame soaps for washing the clothes andbathing purpose. But now a days trend ischanging.

So, the opportunity of selling the bathingsoaps in rural area is more.


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2) Screening

The screening of idea includes feasibilitystudy of all the factors associated with the

selling of product-soap.

This includes the screening of the idea, isthere any possibility of making the soap withthe resources available with the firm andpossibility of selling it into market.


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Competitors Analysis


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Competitors Analysis

It also includes the competitors analysisand SWOT analysis.

The major competitors of the FlourishSoap are

Lux

Santoor Fair & Lovely

Fairglow


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SWOT Analysis


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Strengths

Strong market research (In Rural area.)

Many variants ( Rose extracts, Chocolate,Strawberry, sandalwood Honey) etc.

Strong sales and distribution network


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Weaknesses

Not that much variations

Not focusing on urban market


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Opportunity

Soap industry is growing by 10% in India

Beauty segments compounded annualgrowth rate (CAGR) is very high

Liquid body wash is currently in growth stage P & S Ltd. should come out with morevariants in this segment


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Threats

High competition

New entrants

Introduction stage threat of vanish thebrand from the market


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3) Concept Development

At this stage, the development of the product

can be done. That is what can be themarketing mix of the product is decided at thisstage.


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Product

Product- Bathing Soap

Product varieties- Flourish roseFlourish Strawberry

Flourish Sandalwood

Flourish ChocolateFlourish Honey Glow

Flourish Milk Glow


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Product

Packaging

Different colors Different variants [Chocolate(Brown

Soap) Cocoa Butter & Pink Rose extracts etc. ]

Package size 100gm & 150 gm

Launched 45gm - Rs 5


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Price

Recent Prices of Flourish ( 100 grams)

Flourish rose Rs. 10

Flourish Strawberry Rs. 10

Flourish Sandalwood Rs. 10

Flourish Chocolate Rs. 12

Flourish Honey Glow Rs. 12


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Price

Discounts 5 % extra

Other Buy 5 Get 1 free


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Place

Distribution Network-

Company- Wholesalers Suppliers - Retailers

Available with 25+ Suppliers

40+ Wholesalers

500 + retail outlets


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Promotion

Done through pamphlets at the door

step.

Posters at retail store


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4) Product Development

Finally the soap has been made at P &

S Ltd.

Product has been produced by the

involvement of employees and othermembers of the firm.


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5) Test Marketing

At this stage, product has been

launched in a specific area for a someperiod of time. If the customers aredissatisfied with any feature or

ingredient of the soap than that can bechanged through test marketing.


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5) Test Marketing

The company is now launching theFlourish soap in the five areas if

Mehsana district, those are :Kadi

Vijapur

Satlasana

Unjha

Kherva


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6) Commercialization

After testing the market, company has

finally launched the Flourish soap inother areas of the Mehsana.

Whatever changes suggested by the

customers that has been changed andfinally soap is launched in the market.


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Group-1 Sweta & Payal

Documents

Transcript of Group-1 Sweta & Payal