Strength And Weaknesses Of THE PREVAILING Product Marketing Essay

The product is a air conditioning spray. It could be used for cooling down hot cars or as a body much cooler and freshener. Its name is Magicool. Magicool is a United kingdom invention referred to as your very own personal air-conditioning system in a can". It had been created by researchers at France Med in the UK. Basically this can be a magic cool spray used for air conditioning heat and hot floors.

Strength and weaknesses of the existing product

It is used as a air conditioning device

It is safe to utilize on the facial skin and skin and can not discolour clothes

It will not cause cold shock or discomfort

Weaknesses

It will not last long

Mostly found in autos and air-conditioning

It is unscented

Not many people find out about it

Our proposal

We are determined to modify the prevailing spray by so that it is last for a long time and it only wears off when you rinse it. All you have to do is spray it on your garment and your body and it continues to be on for long. You are able to go clubbing partying or even walk in sunlight for so long as you want and you'll still stay cool, smell good as it is scented and not sweat. You also will stay very fresh. It has got different scents for both females and men and at the same time it has sunshine screen and also serves as a mosquito repellent.

It is intended for hot places like Africa, Malaysia, tropical places. You could squirt yourself and go directly to the beach or walk around and you won't get burnt. It is lightweight and comes in several sizes. Additionally it is very environmentally friendly

and completely safe, non-toxic, non-flammable, free from CFC and alcoholic beverages.

Swot analysis

Strengths

Lasts longer

Scented

Favours all pores and skin types

Safe

Has sunshine screen

Portable and affordable

Weaknesses

Not recommended for babies

Not to be employed by women that are pregnant thus we are losing two concentrate on groups

Opportunities

It is a worldwide product

In certain places the marketplace is going to be sold all year round e. g. Malaysia because it is continuously hot

Threats

There's already an existing product so people might choose to stick to it alternatively than buy ours as many people aren't big followers of change

Idea Screening

Our target market is folks from the age ranges of 5 years and above. We do not advocate the product to the people below the age ranges of 5 years as they are still too young to be exposed to some of the contents of our own product and we'll prefer to avoid any complications what so ever before. We also advice that folks with difficulty in breathing such as asthma or others use the squirt with caution. We do however ensure that the users of our product will profit highly in that they'll be in a position to stay cool and at exactly the same time smell good. They'll also be able to use the spray for different purposes such as for protection from the sun and or as a mosquito repellent.

The size of our marketplace is fairly large looking at the actual fact that the merchandise can be used by everybody and only a small portion which is of the age groups below 5 years cannot use the aerosol. We expect our target market to increase or increase a lot every year as people develop and increasingly more learn to use our product. Also with the promotional strategies we've set up we be prepared to well inform a significant number of individuals about our product leading these to want to give it a try.

Our current completion is the old magicool aerosol which we have made a decision to take and innovate and add other characteristics which it generally does not have at this time. In so doing we are able to draw in more and more people to buy it who feels it really has too much to offer all in one bottle.

We have looked at all the making processes and have examined them thoroughly and also have seen that it is technically possible to manufacture the merchandise at affordable costs. After completing the product success forecast we have seen that the merchandise will prove to be very successful when made and distributed to your customers at the mark price we've set.

Our likely estimated price will be RM 35. 00.

Concept development and evaluation enas

Our marketplace would be all countries that are hot around the entire year "ex. Africa, Malaysia, tropical islands, etc. "

Everyone will have the ability to purchase the merchandise, it's safe to use and wouldn't cause any epidermis irritation, and in simple fact it calms down itchy epidermis too.

Breeze is provided in "squirt, cream, and sunscreen"

It can make the consumers feel cool so long as they need till they wash it off, irrespective of where they can be or what activities these are doing.

It's an extremely useful product, if customers put it to use once they will never stop using it

Develop the marketing and anatomist details

Investigate intellectual property issues and search patent data bases

Who is the mark market and who is the decision maker in the purchasing process?

What product features must the product incorporate?

What benefits will the merchandise provide?

How will consumers respond to the product?

How will the merchandise be produced most cost effectively?

Prove feasibility through electronic computer aided rendering, and quick prototyping

What does it cost to create it?

Testing the Idea by asking an example of potential customers what they think of the theory. Usually via Choice Modelling.

Business analysis

Estimate likely selling price based after competition and customer feedback

Magic cool 200ml can according to comments from customers went on the market in the UK at 10(RM 48. 72) but has since been reduced to 5. 99 (RM 29. 20)

Magic cool embarked on a modest advertising plan mainly through their site and tv set ads that provided them enough exposure to attract initiating potential buyers who in turn spread the term about the merchandise. After a thorough examination of consumer opinions, deduction of Magic cool's vulnerability can be attributed to the following.

Factoring in changes costs of Air flow as well as the extreme advertising cost to your challengers, the likely approximated price will be RM 35. 00 which is a fair balance between RM 48. 72 and RM 29. 20.

Estimate sales volume

Sales after the introduction of Air flow on the market, we expect a slow-moving maximum in sales before a drop. This can fast the new sales campaign to be launched and the tendency will gradually pick up by 12 months 2 of Air flow on the marketplace.

Although actual amounts cannot be offered at the moment, the graph below following a time line offers an illustration how much we seek to benefit from sales consequently of demand following Breeze's intense advertising campaign.

Volume Sales vs. Timeline

Volume

Time line

The blue region reveals the peak during the introduction of Breeze and the most crucial section is the optimum during maturity when Air flow can fully increase profits.

Factoring in a fixed cost of an estimated $ 500 (RM 1598. 17), the predicted variable product cost of $5 (RM 15. 98) and the selling price of a unit $ 10 (RM 32), we could actually deduce the breakeven point at 100 devices monthly which is advantageous for Breeze since from the new-to-the-world product.

Beta tests and market testing

Produce a physical prototype or mock-up

Test the merchandise (and its product packaging) in typical use situations

Conduct concentrate group customer interviews or present at trade show

Make alterations where necessary

Produce a short run of the product and sell it in a test market area to find out customer acceptance

Technical implementation

Quality management system

A quality management review system will appear once annually and can involve the following activities;

Results of audits

Customer feedback

Status of precautionary and corrective actions

Employee feedback

Recommendations for improvements

Follow up from earlier reviews.

Supplier collaboration

Magic cool collaborated with leading pharmacy store; Boots UK limited and reaped gains as a result. Similarly Breeze will aim for Watsons Pharmacy since they have a larger international presence which includes Indonesia, Singapore, China, Philippines and South Korea where our product would provide use to its consumers because of the tropical characteristics of the environment.

Logistics plan

The inside Logistics team will ensure that the supply chain and inventory is controlled and handled successfully.

The plan will entail the next factors i. e. service requirements and goals, effective processes of productivity, cost budget and framework, potential opportunities and problems, technology and automation.

Commercialization

When it involves commercializing our product we've produce different ways of doing it.

Launch product

Our product will be launched nationally and after it includes penetrated the market we will expand it internationally. Nationally will be a way to bring in a product and also to make our customers aware.

Promotion

Advertising

This is going to be our main way of commercializing our product. We will have flyers, billboards of our own products and also information related to the utilization in our product

Television commercials

Advertising our product by demonstrating how to put it to use and the great things about using it. This is to attract a large audience and describe to them why we think our product should be purchased

Internet

This will be used to further advertise our product and at exactly the same time customers can order online and also give us a feedback in what they think about it.

Direct selling

This form of advertising will be to get the expressions in our consumers and know how they understand it. Will probably be having stalls in shopping complexes to draw in more consumers.

Distribution

The distribution would be to distribute directly to retailers as that's where most customers purchase their products. When we are satisfied with the sales and just how our market is progressing we may opt to sell right to sportspeople as one of the elements is a cooling effect all day long and they're people who exercise vigorously

Some of our own slogans

"Party like a rock legend with ice cool air flow"

"Be cool with ice cool air flow"

New product pricing

Penetration costing will be used as we producing our product and also to gain access. After a while price skimming strategy will be integrated after our product has penetrated the market and this will be utilized to stop competition from entering the marketplace.

Impact of new product on the entire product portfolio

Value Research (interior & external)

Competition and alternate competitive technologies

Differing value sections (price, value, and need)

Product Costs (set & variable)

Forecast of product volumes, income, and profit

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