North South University

Assignment Course: MGT 314

Sec: 09

Prepared for:

Md. Mofassel Hossain (Mof)

Prepared by:

H.M.Tanzil Id: 123 1184 630

Iftekhar Ul Alam Id: 122 1168 030

Rashna Shameem Khan Id: 123 0143 630

Tanveer Rashiq Id: 121 0963 030

Md Shirajul Islam Id: 122 0284 030

Md. Abidur Rhman Id: 111 1011 030

Date of Submission: 28th February 2016

Introduction:

A pen is a very common thing to all of us. But, what if a single pen can solve many problems.

Our pen will be exactly like one. In our pen there will be a torch so that people can write even

in the dark. And there will also be a pendrive on that.

The torch will be on the bottom of the pen. It can actually be removed from it’s back. So, one

can use it as a torch. And one can also write in dark using the torch. On the other hand the

pendrive will be the cap on the pen. If we remove the cap, it can be used as a pendrive.

This pen will be very helpful to those people, who are very busy in their day-to-day life and

also for the adventures people. As our life is becoming more technology dependent, it will be

a very useful pen. Pen can be easily reusable by changing its ink nip. Then we’ll give offers to

recollect used pens. Then we’ll modify them with different designs to reduce production cost.

Then again all pens are recyclable. So we can easily recycle our pens to make new ones.

Idea Generation The product that we have selected is Pen with small torchlight and pendrive. The idea of

designing and making pen attached with pendrive and torchlight has been generated from

intensive research on customer demand by analyzing our own inner thoughts and innovative

ideas of designing a pen targeted to consumers who can use small torch light in various

situation and also get rid of borrowing extra pendrive. It comes to our mind as a part of

existing product development. This Pen attached with pendrive and torchlight will help them

use the small torch while electricity isn’t available and also help them to carry their necessary

data.

Product and Service Design: Pen is one of our most important daily needs. We use pen every day. Some important factor

regarding product and service design is given below:

Demand: We are going to talk about 3 different and pack in into a package. Pen is

undoubtedly the most important part of our life. Wherever we go we take a pen with

us. Pen drive has become an important element in modern life because everything is

done now a day in the digital format. Torchlight is one of the few old inventions that

have not yet vanished over the flow of time. That is why torchlight is also a handy

thing to carry. The demands of these 3 objects are extremely high and you might need

to carry them differently normally. But we are going to make it all in one package.

Refine existing products and services: People all around the world use pen to

write. But we are not only providing pen but also providing digital storage and light.

So, we are refining the old product and adding some important value to that already

have a good demand in the market separately.

Develop new product and service: Our product is completely new and it has

not yet found in the market. Pen or Pen Drive or Torchlight can be found in the

market separately but you will not find all of them as a whole in the market.

Our Goals: Our goal is to minimize space and hassle of carrying 3 products at

once. Also making your life more comfortable.

Cost Target: Pen making cost - 5 Taka

Pen Drive - 30-40 Taka

Torchlight - 15 Taka

Overall - 50-60 Taka (all the price is taken as maximum and can be

less than that)

So, our rough cost target is 45 – 55 taka. But the value it is creating it can be sold at

around 80 taka.

Construct and test Prototype: The main structure will look like a pen. But we

will extend the upper and lower portion a bit. The upper portion where the cap resides

we will put a 2 GB pendrive and in the lower portion we will put a small torchlight

that will help you write in the dark.

Our staffs and employees to find out any defects in the product and refine them

accordingly will test the first prototypes.

Marketing: We will create IMC campaign with the USP “3 in 1” and focus all our

marketing in promoting this factor. We will also promote how this product can save

your time as well as make your life more comfortable.

Key Questions: 1. Is there demand for it?

Answer: There is undoubtedly plenty of demand for this product

2. Can we do it?

Answer: This is not that hard to do but making it presentable is more

important. And we have creative people to make it more presentable.

3. What level of quantity is appropriate?

Answer: We have to do a market research to find out our target customer and

the size of the target customer

4. Does it make sense from an economic standpoint?

Answer: for a developing country like Bangladesh this kind of cheap but

pretty useful product is not only logical but also wanted.

Reasons for Product and Service Design or Redesign: Product and service design has typically had strategic implications for the success and

prosperity of an organization. Furthermore, it has an impact on future activities.

Consequently, decisions in this area are some of the most fundamental that managers

must make. Organizations become involved in product and service design or redesign

for a variety of reasons. The main forces that initiate design or redesign are market

opportunities and threats. The factors that give rise to market opportunities and threats

can be one or more change. So it is a useful tool for understanding the industry

situation as a whole, and is often used in conjunction with a SWOT to assess the

situation of an individual business.

Economic factors: Bangladesh is one of the biggest population countries in the

world and many of them are involved in education. So there will be possibility to do a

business.

Usage of pen in Bangladesh is high in demand. There are many schools, universities

and coaching centers and all students who need pen every day. The pen industry holds

a considerable share in manufacturing production. Size, type, color and quality of the

pen production units are diverse. International competition like Indian pens and the

high quality and low production cost of raw materials will put pressure on small

factories to close. Furthermore, most small and medium size factories will not be able

to maintain all pollution regulation systems. Chemical recovery will also be tough for

them. Therefore, they are high polluting industries contributing to the environmental

conditions. Our product is high in demand and the cost of production is average. So

we need to give standard price to earn revenue. So there are few opportunities and

also threats.

Political factors affecting the pen industry:

Security and strategic concerns, social reasons, hazardous

chemicals and environmental impacts:

Bangladesh has lot of political problems like strike, blockade etc. so there will be

great risk for us to do the business because in strike as the supplies and goods will not

be delivered in time.

Growth of pen industry in Bangladesh is getting huge day by day. but there are many

companies who don’t follow environmental regulations due to the lack of money or

proper operating systems. And sometimes suppliers intentionally create lack of

supplies to increase demand. Furthermore, political situation in our country also

effects on producing. Government taken the bottlenecks of availability of raw

materials and infrastructure development. For example, government is helping small

companies to maintain environmental rules and regulations from industrial pollution.

Social Factors affecting the pen industry:

Linked to the economic factors above social changes have significantly impact on the

pen industry in relation to changing demographics in terms of the customers it targets.

As such then changes in customer’s needs and preferences for quality pen and

changing. so preference towards the environment friendly and efficient product has

increased the pace of the demand in terms of meeting these needs. Increased

globalization arguably has led to customers demanding faster responses to their needs

creating much more competitive business fields attempting to satisfy these desires.

This is because customers have become more environmental sensitive as well as

technique and quality orientated as a result of higher educational levels and income levels creating much more discerning customers in relation to these.

Technological factors affecting the tissue paper industry:

Presently, large pen industries are more efficient, using better and more modern

technologies and appropriating economies of scale. Additionally, they provide

chemical recovery facilities, which reduce both emissions and external energy

requirements, which makes it environment friendly. However, the large industries

also face severe basic problems such as high maintenance costs, raw material

constraints. Overall performance has been best in medium size firms with regards to

average profitability.

Competitive: we have already lot of existing competitors. So we offered extra feature

like having small torchlights in the pen and USB device on the cap. So it is one of the

great opportunities for us to do business.

Cost: our production cost is actually low because we mainly focus on outsourcing. So

we import raw materials like torch and USB from china. It actually decreases our

cost. So it creates another opportunities and competitive advantage to do business.

Marketing of the product: We will promote the multi-functional pen in many ways. One of them would be by

using the pull strategy. Marketing plays an important role in promoting the product

and increase the sales. We will segment this product into various sections.

Demographics:

Gender: Male, Female

Age: 14 and up

Occupation: Students, jobholders, businessmen, travelers, people who loves

adventures

Geographic:

Country: Bangladesh

City: Dhaka, Chittagong, and Rajshahi (all over)

Places available: Major shopping malls, stationary stores

Positioning:

We will paint a distinctive image for the product in the minds of the customers. We

will create a demand for it, and use it to drive out sales. We will be communicating

that the multi-functional pen is handy, mobile, and saves a lot of space and has the

major functions that a student, a traveler, a businessman or a jobholder may need.

Promotion:

We will be promoting our product using a pull strategy. We will advertise extensively

using billboards, newspapers, TVCs, and social media. The billboards will be in the

major points of Dhaka city to attract more consumers. We will also be promoting

through YouTube where tutorials and instructions will be provided, and a Facebook

page will be opened to cater to the questions and problems of the consumers

regarding our product.

Events:

We will be holding a few promotional events at universities and some top tier schools.

We will publicize the event by involving media channels to cover the events. We will

sponsor school competitions like Spelling Bees and events like Pohela Boishakh, etc.

Sales Promotion:

For the first week of our product launch, we will keep a discount of 20% in our

products to increase the sales. This will motivate the customers to buy the product as

soon as it launches.

Environmental factors:

Our product which is pen with pen drive will be eco-friendly and will not have any

negative impact on the environment throughout its useful life. Everyone seems to

want to be more environmentally friendly these days, so why not cater to our “green”

customers with eco friendly pen drive. The bamboo pen drive creates a connection

between high tech and renewable tech. Bamboo is a very sustainable material,

growing five times faster than other woods while having the strength of steel. As a

result, you can rest assured that the data on your drive will be well protected. If you

really want to send a clear message that you’re environmentally conscious, consider

packaging them in 100% recyclable packaging as well. The bamboo is actually not a

tree, as in fact; it is a grass, a grass that grows at an incredible rate. This amazing

plant, after it is harvested, you don’t even need to replant them. From the root system

new shoots sprout up desperately searching for sunlight and absorbing greenhouse

gases found in the surrounding environment. And another “did you know?” fact about

the bamboo is that it releases 35% more oxygen than a similar sized regular tree. so

that the bamboo pen drive is eco friendly solution.

. Our pen in its product life cycle stage

will not hamper environment in different stages starting from raw material collection,

designing, operations or other processes used to make product, usage of the product

and in all other related stages. It will have less energy consumption and waste of the

material. It also considers no environmental pollution and low transportation cost in

all phases. Once the product has reached the end of their useful lives, the dumping of

it must be reduced. Once it has been dumped, it converts materials into hazardous air,

water pollution and generates toxic. Instead the useful materials should be kept

separated and should be recycled in an environmental friendly manner to make some

other product from it. We use small torchlight, which is no radiation so it can’t

harmful for our environment.

Human factors:

Human factors examines the relationship between human beings and the systems with

which they interact by focusing on improving efficiency, creativity, productivity and

job satisfaction, with the goal of minimizing errors. A failure to apply human factors

principles is a key aspect of most adverse events in health care. Safety and liability

are two critical issues in many instances, and they must be carefully considered. Pen

with a pen drive and a small torch with the pen is our product. The pen, which we will

use for our product, which is comfortable for users. In certain businesses may seek a

competitive edge by adding new features. We are adding 2 new different features in

our product. We attach a pen drive and a small torch with the pen. It provides 3

different packs in into a package out. It gives pen a competitive edge by adding new

features .Its reduces customer dissatisfaction. Pen is undoubtedly the most important

part of our life. Wherever we go we take a pen with us. Pen drive has become an

important element in modern life because everything is done now a day in the digital

format. Torchlight is one of the few old inventions that have not yet vanished over the

flow of time. That is why torchlight is also a handy thing to carry. The demand of

these 3 objects is extremely high and you might need to carry them differently

normally. We use small torchlight, which is not harmful for user’s health, and there is

no radiation in the torchlight so it can’t harm human body.

3R:

Reuse: When it comes to reuse, pen is one of the most suitable thing to use again

and again. After finishing pen’s ink, we can refill the ink or we can buy another ink

filled plastic to reuse the pen.

Reduce: When those reused pen reach their final stage or maturity stage, we can

collect those pen by offering 1 new pen for 10 used pens. And then use some extra

furnishing outside of those pens just like using new sticker or something we can make

those pens new and usable to the consumer and cut a big cost from pen’s production.

Recycle: Pen has many ways to recycling. From our plan, we will try to attach a

pendrive and a small torch with the pen. That small torch will be at the bottom of the

pen. It will attach to the back of the pen. So, the user can apart it from the pen and use

it to have some light while writing. On the other hand the pendrive will be at the top

of the pen. It will be attached on the cap of the pen. SO the user can use it separately

while using the torchlight.

Reliability: We will take continuous feedback from our customers. From there we’ll improve our

product to increase its reliability. We’ll find out the errors and all the defects and also

the reasons for customer dissatisfaction. Then we’ll work on them, to take the

reliability at its best.