New Product Dev. Essay Example

a rating of 6. CHAPTER 3, on the other hand, covers Product Development, Finance, Plant and Equipment with a rating of 7.

Within this text, there are two chapters that focus on marketing. The first chapter, Chapter 4, covers test marketing and commercialization, while the second chapter, Chapter 5, discusses the product component of the marketing mix.

The prices amount to 9, the location is represented by 12, and the promotion totals at 16. Additionally, Chapter 6 focuses solely on analyzing competitors totaling at 4.

Chapter 7: SWOT Analysis
Strengths and Weaknesses: 19
Opportunities and Threats: 20
IDEA GENERATION: The primary objective was to create a product for hair or skin. Due to the vastness of the skin products market, our focus shifted to creating a hair product. The options we considered were hair dyes, hair sprays, shampoos, and conditioners.
IDEA SCREENING: After assessing the options, we decided to concentrate on developing shampoos.

When considering options for shampoos, we weighed Dandruff-free, different hair type-specific, baby, normal and tear-free options. Our choice was the tear-free shampoo because we observed that the market for such a product was not oversaturated, with few competitors present. Therefore, we opted to manufacture baby tear-free shampoos. Our product concept, eaZer Baby Shampoo contains the perfect natural ingredients blend and flavors for a tearless and enjoyable bath experience for your baby. We aimed for our product to remedy cradle cap. In concept testing, we asked respondents which shampoo they use for their kids.

Consider these questions when evaluating your kids' shampoo purchase: How much should you spend? What benefits does the current shampoo provide? Is it tear-free? Are you content with your current choice? Would you consider switching

to a shampoo that is tear-free, tangle-free, and treats cradle cap?

What is the appropriate cost for shampoo with these features and would you purchase it? The eaZer Baby Shampoo utilizes market segmentation by focusing on newborns to 5 year old kids. This age group dislikes bathing and often cries when shampoo gets in their eyes. Mothers also struggle with this situation as their children scream and cry during bath time. Therefore, the target market for eaZer Baby Shampoo is well-educated young mothers who belong to the middle and upper classes.

Our eaZer Baby Shampoo has been specifically created for mothers to provide convenience while giving their children a tear-free and enjoyable bath. With our shampoo, mothers will no longer have to worry about their child crying and causing trouble during bath time. Our product is positioned as a symbol of easiness and convenience.

Mothers can enjoy an easy and convenient bath time with their children, with no crying or shouting. Even kids who dislike bathing can find it enjoyable when their mother uses eaZer Baby Shampoo, which can change their perception of bathing. The company behind this product is eaZer, which is owned by Wasiya Zulfiqar, Sadaf Ghazali, Rabia Aslam, and Marriyum Sohail.

The four partners will be investing the capital and arranging for a loan from the first women's bank. The factory will be located in Bara Kahu near Islamabad, with equipment imported from abroad. Chemicals required for manufacturing will be sourced from ICI Pakistan. As part of the test marketing strategy, sachets of the Eazer Baby Shampoo were distributed to Gynecologists and Dermatologists.

Furthermore, we conducted a survey that clearly indicates the demand of our target market,

the mothers. The survey results demonstrate that they require tear-free and tangle-free shampoo in various flavors for their children, as kids are fascinated by colors and flavors. Additionally, they seek a shampoo that can alleviate dandruff (cradle cap) in kids. Thus, the outcomes reveal their intent to purchase our eaZer Baby Shampoo.

COMMERCIALIZATION: The eaZer Baby Shampoos will be marketed through various channels, including: effective and persuasive TV advertisements, advertisements in newspapers and magazines, distribution of posters and pamphlets in hospitals, and the launch of a website - www.eazer.com.

PRODUCT: The eaZer Baby Shampoo is a tear-free and tangle-free shampoo suitable for newborns up to five years old. It is a shopping product that offers convenience to customers who must consider factors such as style, quality, price, and suitability compared to competitor products.

In order to decide whether to purchase eaZer Baby Shampoo, the buyer must consider the product's three levels. The first level is the core product, which aims to provide convenience for mothers and an enjoyable bath experience for children. The second level is the actual product, which includes specific characteristics such as quality. eaZer Baby Shampoo consistently protects kids from the "cradle cap" virus.

This baby shampoo is tear free and tangle free, which makes bath time easier for kids and also ensures smooth and silky hair. The eaZer Baby Shampoo has a unique feature of providing a cure for a skull virus called "cradle cap," which has never been introduced in any baby shampoo in Pakistan. This gives eaZer Baby Shampoo a competitive edge. In addition, this shampoo is designed to be tear free since kids often dislike bathing as shampoo or

soap can get into their eyes.

Mothers desire their babies to have a tear-free bathing experience, which is provided by eaZer Baby Shampoo's formula. Additionally, this shampoo prevents tangles in hair, leaving it easy to comb and smooth.

eaZer Baby Shampoo comes in three variations - Green Mint, Pink Strawberry, and Yellow Lemon. These shampoos are gentle and safe for newborns and children with delicate skin as they contain natural ingredients. Additionally, they are hypoallergenic and non-toxic. The colorful bottle design is attractive to children.

The eaZer Baby Shampoo is packaged in a clear bottle that corresponds to its color. The bottle has an original rippled design that enhances both aesthetics and functionality, providing ease of handling. Moreover, the shampoo container includes a squeeze spout that is intentionally crafted for simple dispensing of the product.

Our product, "eaZer Baby Shampoo," features a press-out opening that is protected by a cap to prevent leaks and waste. By pressing the opening, users can easily access the shampoo for use. Overall, this design makes the product easy to handle and use.

On the front side of the eaZer Baby Shampoo label, it is stated that the packaging will consist of a transparent plastic bottle with a standard size of 300 ml. The bottle's transparency will reflect the color of the shampoo. Additionally, there will be two labels on the bottle – one on the front side with the brand name, graphics, and flavor (depicting a happy baby), and one on the backside containing the shampoo's ingredients.

Describing the product and its usage, the eaZer Baby Shampoo offers augmented products such as a website available on the World Wide Web. The website provides

information about the company and brand at "www."

Get a free bathing gift from eaZer.com when you purchase eaZer Baby Shampoo for your kids to enjoy bath time. Remember that within the Marketing Mix, price is the sole element that results in revenue, while all other elements are associated with costs.

Marketers always operate in this area to generate profits. The prices of eaZer Baby Shampoo's competitors are:

• Johnson's and Johnson's (300ml) priced at Rs. 140
• Silvikrin tearless (250ml) priced at Rs. 210
• Kids zone (300 ml) priced at Rs. 110
• Suave (500 ml) priced at Rs. 245
• Baby love (500 ml) priced at Rs.

The cost of eaZer Baby Shampoo (300 ml) is Rs. 165. Pricing decisions for the product are influenced by internal factors, particularly its marketing objective. The company aims to establish product quality leadership, necessitating a high price point to fund excellent performance quality.

Regarding eaZer Baby Shampoo's pricing decision, external factors taken into consideration included consumer perceptions of price and value, as well as competitors' prices and offers. Despite its higher price point, eaZer Baby Shampoo offers value to its customers and sets its price with competition in mind. By providing more benefits than its competitors, the price is accordingly adjusted. In terms of pricing approach, eaZer Baby Shampoo adopts a Competition Based strategy.

The cost of Johnson’s and Johnson’s Tear Free Shampoo, the main competitor, is Rs.140. EaZer Baby Shampoo offers extra benefits (cure for cradle cap, free toy, developed with pediatricians and dermatologists) compared to Johnson’s and Johnson’s, leading to a slightly higher price of Rs.165. After conducting a survey of several mothers, it was discovered that they are also willing to pay Rs.

The positioning of

eaZer Baby Shampoo is based on the "More for More" value proposition, which offers greater benefits at a higher price compared to competitors. This value proposition emphasizes the shampoo's ease for mothers, joy for kids, and treatment for cradle cap - all at a fair price for this mix of benefits. The target market is well-educated young mothers from middle and upper classes, who see the product as a symbol of prestige and status. In terms of placement, eaZer will launch on selective and famous outlets as it is a shopping product.

We intend to introduce eaZer baby shampoo in major cities of Pakistan, specifically Islamabad/Rawalpindi, Karachi, Lahore, and Quetta. Our shampoo will be accessible from various shops including SHAHEEN CHEMIST Super market and Blue area branch, D-WARSON CHEMIST Super market and Blue area branch, BEST DAY SUPER STORE Blue area branch and F-10 markaz branch situated in Islamabad. In Rawalpindi, NEW CITY DRUG STORE Saddar market and A ONE GENERAL STORE Alladin plaza Murree road have it available for purchase. It can be found at Dolmen shopping center Clifton center, Dubai mall, Haidery market, Empress market as well as Uzma shopping plaza if you are looking to buy it in Karachi. In Lahore shops such as DECENT DEPARTMENTAL STORE Wahdat road , WORLD MART Johr town along with LEADER PRIX SUPER MARKET School chowk defence have our product stocked up on their shelves. For those residing in the city of Quetta; AHMAD STORE Gurdat road , SAHABI STORE Mission road or even A-Z STORE Jinnah road has eaZer available for purchase.

Our advertising campaign is aimed towards educating parents about the benefits of using

our product by providing informative advertisements that are also persuasive enough to convince them to try out our product. We place a special emphasis on how effective the shampoo is in preventing harmful chemicals from hurting your child's delicate eyes whilst washing their hair.Our eaZer Baby Shampoo not only nourishes your baby's hair but also shields their eyes from harmful chemicals. It contains exceptional ingredients that treat cradle cap, a typical condition found on newborns' scalp. Our advertising approach centers around two primary elements: the advertising message and the advertising media. The message is straightforward - our shampoo brings convenience for mothers and joy for children.

Our advertising media strategy includes television, newspapers, magazines, internet and brochures/pamphlets. For television, we have selected PTV, PTV World, ARY Digital and Indus Vision channels during prime time from 7-9 pm. The newspapers we have chosen for advertisement are The News and The Dawn. For magazines, we have decided on SHE and The Mag. In addition, we will launch a website named www.eaZer.

eaZer.com provides comprehensive information about our product through our frequently asked questions section. Additionally, we plan to distribute posters and brochures that explain the attributes of our product in hospitals. As part of our sales promotion activities, we will distribute free samples of our product to dermatologists and gynecologists.

We are offering a complimentary duck bathing toy with each purchase of eaZer baby shampoo for a limited time. JOHNSON'S AND JOHNSON'S is our main competitor in the market.

"No More Tangles, No more Tears" is a feature of Johnson's and Johnson's shampoo, which is priced at Rs. 140 for a 300 ml bottle and can be found in most shopping

stores in the country. Johnson's and Johnson's promotion and advertising is limited, with advertisements only launched on foreign channels. Suave, on the other hand, is a 2-in-1 shampoo and conditioner for babies priced at Rs. __ for a 500 ml bottle.

Only certain stores in big cities offer it. KIDS ZONE: Tangle and tear-free shampoo for kids. The 300 ml bottle costs Rs.110 and can be found at specific retailers.

eaZer Baby Shampoo has multiple advantages that distinguish it from other brands. It offers a wide range of features, including a no-tears formula, cradle cap treatment, tangle-free benefits, alcohol-free composition, hypoallergenic properties, non-toxic elements and is developed in collaboration with pediatricians and dermatologists who adhere to strict pharmaceutical standards. Additionally, eaZer Baby Shampoo comes in three unique natural fragrances.

eaZer Baby Shampoo comes in three different flavors: mint, strawberry, and lemon. The shampoo's bottle design not only enhances its aesthetic appeal but also makes it easier to use thanks to its wavy shape that provides a comfortable grip.

The shampoo bottle has a convenient press-out opening that is safeguarded by a cap, making it easy to dispense and preventing any wastage or leakage of the shampoo.

The eaZer Baby Shampoo is designed for easy handling and usage. Its smart and colorful bottle is intended to attract kids, with each flavor featuring a unique color combination. Additionally, the transparent bottle allows the color of the shampoo inside to be reflected.

EaZer Baby Shampoo presents bottle designs with a wavy shape. However, its main weakness relates to distribution as it is currently limited to major cities. Nonetheless, potential opportunities include the extension of its product line through the introduction of new

flavors such as grapes, vanilla, and pineapple.

THREATS: The potential threats for eaZer include not being able to effectively extend its brand and distribute its products throughout the country, as well as any other challenges that may arise in the market.

eaZer Baby Shampoo faces tough competition in the baby shampoo market from both local and international brands sold in stores nationwide.