New Product Launch
Transcript: S M O Spark All you need is vibrant, we are with you. PRESENTED BY Rahul Patil – 1247332 Ajay Kumar – 1247326 Sivani Samayam – 1243088 Ranbir Kaur – 1247700 Sandhya Rani – 1245673 Ifran Hossain - 1246371 New Product Launch Plan THE CREATIVE ZONE #1 We at “Spark” are focused to use technological advancement in an innovative way to make life easier and comfortable. We are determined to meet our commitments and engage with customers responsibly to reach maximum customer satisfaction level. About Us Live Energetic Our Mission Our Mission Statement We are focused on serving people with the best technological products and become a preferred brand in the market. Our Vision Our Vision Statement All you need is vibrant, we are with you. Our Tagline Our Punchline Electro Thermal Flask Our Product 1. At the bottom of the bottle there is the battery attached, which is chargeable with the help of the USB cable. 2. Above the battery there is the heating copper coil which is attached with the battery power the heat up the whole bottle, whenever the owner wants to heat his/her beverage. 3. Also, there is the timer which goes max till 3 minutes and can be adjusted in between 0 to 3 minutes to heat-up the drink. 4. Also, the bottle is coated with the insulation material which will not heat up the outer part of the bottle, protecting the hand from touch of it. What it has? Technological Aspects In Build Heating System USB Chargeable Battery System Time Display Screen Automated Control System USPs Unique Selling Propositions Marketing Aspects E 4P's Product Our product is a physical item which is Electric Thermo flask. For our product the following features we have, Touch-tech controls, A vivid and easy-to-read LED display, warming plate which is water-resistant. Available in Two sizes 18 & 20 Oz Available in 3 Different Colors Promotion We use promotional offers for the first 100 customers for our product by offering them buy one get second 75% off. Also, we have exclusive deals for customers for the first month only, by providing them with a family pack of just $75. The family pack includes both the sizes of the flask. PROMOTION Place Direct Sales at our locations Online Stores Selling through Intermediary Available at Retail Stores PLACE Price The strategy that we are choosing based on the value of our product, the production and distribution costs, consumer demand, and competitive landscape. Primarily we are selecting the price between $40 to $55. PRICING Market Segmentation STP Target Audience age will be 16 yrs and above Focused on Students and Working Class Canada & U.S. Regions Cold Weather Countries Along with that, we are planning to focus on the significant growth in the Fall season Targeting We would like to communicate to the consumer about our Brand and Product with different disciplinary in media like, Radio advertisement TV Commercials Social Media Store booths Mouth Publicity Positioning Market Research SWOT Analysis PESTLE Analysis CONTINUED.. Continued...... We mainly have 3 Competitors in the market Competitors Analysis How to be Successful! How to beat the Competitors • Competitive Price • Chargeable by USB • Fast Charging • Available in two different sizes 18 or 20 oz • Available in Canada and US • Long lasting battery (depends on usage) FINANCIAL ASPECTS For all the means of entertainment usage, currently, we are planning to invest around $100,000. This may change accordingly as per our marketing usage. Major of our investment focus is on TV commercials and Social media, which is a significant weight for our growth. Investment and Pricing Budget for (1000 Flasks) Particulars Cost Cost of Manufacturing $15000 Marketing & Advertising $50000 Website Development Cost $5000 Promotional Cost $2000 Others (Labor, Transportation, Rent etc.) $15000 Total $87000 Approx. BUDGETING OUR ONE YEAR GROWTH PLAN FOR 200 FLASKS Pricing • The product is available in 2 variants – Small and Medium which are ideal sizes to carry around. • Price for the small one is 40 CAD • Price for the medium range is 55 CAD Mobile App Connectivity with Flask How much & how frequently to consume Use of phone accelerometer by using pulse information Lights with different colors with effective indications Updated Models of Flask will Coming in near future FUTURE SCOPE OF INNOVATION
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