Principles of Marketing: New Product Development
UNIVERSITY OF THE PUNJAB
GUJRANWALA CAMPUS
“Principles of Marketing”
“MARKETING PROJECT”
“New Product Development”
Submitted to:
“Prof. Hafiz Ihsan-ur-Rehman”
Submitted By:
Usman Khalid Mc09023
Umar Farooq Mc09002
Faraz Raza Mc09040
M. Usman Mc09026
Jahangir Badar Mc09061 Ahmad Khayyam Mc09035
PROJECT CONTENTS
1. Segmentation & Target Marketing (Characteristics: How Product fit with T. M.) 2. Product Ideas ,Screening, Concept Development & Testing. 3. Demand Estimation 4. Marketing Mix 1) Product ← Levels of Product. ← Ingredients of the Product. ← Process of Production. ← Packaging ← Labeling 2) Price 3) Placement 4) Promotion (Print, Radio & T V ads.) 5) 5. Cost Estimation
Variable cost Fixed cost P.U. P.U.
6. Plant Cost ← Which type of humen force is required? And How much?
Segmentation & Target Marketing
Segmentation: “Dividing a market into smaller groups with distinct needs characteristics or behaviors who might require separate product or marketing mix”
Geographic Segmentation: We considered the Punjab as a whole market for our Product and divide the Punjab on the basis of cities e.g. Gujranwala, Lahore, Gujrat. We divide the GRW market on zone basis i.e. Satellite town, Model town, Urdu bazaar, People colony etc.
Demographic Segmentation: (on the family size basis) Now we divide the selected urdu Bazar market on the basis of family size. A family whose has ten members need a wiper after six months or replacement of rubber is necessary after three or four months.
Target Market:
Our product is consumer product and basically for household. Our Targeted Market is Urdu Bazar in which we supply the wip wiper on different shops for sale. Our Targeted
GUJRANWALA CAMPUS
“Principles of Marketing”
“MARKETING PROJECT”
“New Product Development”
Submitted to:
“Prof. Hafiz Ihsan-ur-Rehman”
Submitted By:
Usman Khalid Mc09023
Umar Farooq Mc09002
Faraz Raza Mc09040
M. Usman Mc09026
Jahangir Badar Mc09061 Ahmad Khayyam Mc09035
PROJECT CONTENTS
1. Segmentation & Target Marketing (Characteristics: How Product fit with T. M.) 2. Product Ideas ,Screening, Concept Development & Testing. 3. Demand Estimation 4. Marketing Mix 1) Product ← Levels of Product. ← Ingredients of the Product. ← Process of Production. ← Packaging ← Labeling 2) Price 3) Placement 4) Promotion (Print, Radio & T V ads.) 5) 5. Cost Estimation
Variable cost Fixed cost P.U. P.U.
6. Plant Cost ← Which type of humen force is required? And How much?
Segmentation & Target Marketing
Segmentation: “Dividing a market into smaller groups with distinct needs characteristics or behaviors who might require separate product or marketing mix”
Geographic Segmentation: We considered the Punjab as a whole market for our Product and divide the Punjab on the basis of cities e.g. Gujranwala, Lahore, Gujrat. We divide the GRW market on zone basis i.e. Satellite town, Model town, Urdu bazaar, People colony etc.
Demographic Segmentation: (on the family size basis) Now we divide the selected urdu Bazar market on the basis of family size. A family whose has ten members need a wiper after six months or replacement of rubber is necessary after three or four months.
Target Market:
Our product is consumer product and basically for household. Our Targeted Market is Urdu Bazar in which we supply the wip wiper on different shops for sale. Our Targeted