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New Product Development and Marketing Plan

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Umbrella Revolutionary

on 13 March 2014

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Transcript of New Product Development and Marketing Plan

New Product Development
The Revolutionary Umbrella
Our Product
USP: An umbrella with a heated grip

New to the market

Provides satisfactory level of heat
Target Market
Larger cities in the UK
Commuters
Spectators- at outdoor sports events
Middle - Upper class
Males 25-40

Potential Competitors
Current competition:
No initial competition
Forseable competitors:
Heated clothing and accessories are available in the market
Our advntatage:
Many opportunities for our company to increase

Pricing
Concept Testing, Promotional Strategies & Distribution Strategies
Brand based research
USP
Campaigns throughout different communcation channels
Promote through men's fashion magazine
Trade shows
Product Launch Schedule
1st September - Introduction of the product to selected UK retailers. Making use of Trade Shows

1st December - The product will be put in the sales to take advantage of increase in sales at Christmas

From mid January 2015 - Introduction of new colours and designs of the Revolutionary Umbrella with the aim of increasing the target market

Future Plans
Arv Grewal, Igor Kominek, Emilia Knutsen & Ashleigh Rolph
The Revolutionary Umbrella will be launched into the market at a RRP of £64.99
Estimate cost to produce the product: £25.41
150% profit
Pyschological pricing

The Revolutionary Umbrella
An Umbrella With a Warming Change

Full transcript