By Nachiket Patil

 

POSITIONING IMPERIAL LEATHER AS THE BEST SELLING LUXURY SOAP BRAND IN INDIA

A PROPOSAL TO Dr. Ajit Patil

PRESENTED BY Nachiket Baban Patil (11BSP1960)

TABLE OF CONTENTS

Company’s Mission Statement……………………………...1Factors Affecting Buying Behaviour……………………….3The Challenges………………………………………………...4Current Market Analysis…………………………………..….4Conclusion………………………………………………..…….5SWOT Analysis…………………………………………..…….5Strategic Planning……………………………………..……...7Defining Company’s Mission…………………………..……7Planning Functional Strategies…………………………..…8Market Segmentation………………………………………....8Target Marketing……………………………………………....9Positioning the Product……………………………………..10Marketing Research…………………………………………..11Developing Research Plan…………………………………..12Promotion…………………………………………………….…13Setting the Budget………………………………………….….14Sales Promotion…………………………………………….….15Pricing Strategy and Distribution…………………………...16Introducing Your Product……………………………………..17Concept Development and Testing………………………….18Product Description…………………………………………….18Control and Suggestion………………………………………..19References………………………………………………............19

 

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Company’s Mission StatementCussons Imperial Leather – a little luxury everyday

Our Mission Statement

Imperial Leather is a family of products that is determined to satisfy its customers. We have a clear mission in our mind, which is, to build our existing products and diversify. All of this shall cater the needs of all our customers. Our latest addition to this family Imperial Leather Soap would serve as an example of our aim

The company sets up mission they need to be turned into detailed supporting o b j e c t i v e s f o r e a c h l e v e l o f m a n a g e m e n t . E a c h m a n a g e r s h o u l d h a v e objectives and be responsible for reaching them. Our company has the following objectives;

1. The first objective of our company is building the long term costumer relationship. We made these relationship strong by providing them maximum value and satisfaction.  2 . The second objec t ive of our company is to have a market share of a t least 30% within two years.

3. T h e t h i r d o b j e c t i v e o f o u r c o m p a n y i s t o p r o v i d i n g o u t s t a n d i n g  product and services to the targeted costumer to want loyalty from the customer. If they are loyal then it will help our product to long term satisfaction.

4. The fourth objective of our company is to give a competitive edge tot h e c o m p e t i t o r s b y d e v e l o p i n g p r o d u c t i n s u c h a w a y t h a t i t c a n differentiate in the market and as well as in the mind of the targeted customer.

5 . T h e f i f t h o b j e c t i v e o f o u r c o m p a n y i s t o m i n i m i z e t h e c o s t o f   production and promotion and generate maximum profits by using those promot ional ac t iv i t ies which are less expensive and more in effective.

6 . The s ix th objec t ive of our company is to in t roduce new innovat ion in o ld  products with better qualities and features.

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Factors Affecting Buying Behaviour Price is the most important factor which affects the buying behaviour of consumers, various price segmentations have emerged namely premium, discount and economy. Imperial leather, Lux and Dove occupy the premium market of soaps with increasing competition from such brands . Growth is expected from this segment as the middle income bracket in India expands and the premium brands will be the best to benefit. Another important factor which affects the demand of soaps is the penetration which the products have in the market. In this regard many consumers complain about the low visibility on the market of Imperial Leather with some even questioning its availability. Unilever with its nationwide distribution network is currently has the enviable position of being the premium soap market penetration leader with its brand Lux. Brand personality is also increasingly becoming a major factor affecting Indian consumers purchasing decision. It reflects the collection of experiences that the public has with the brand; differentiates while creating a lasting impression in consumers’ minds. With the burgeoning middle class, India consumers have become more selective preferring brands they can identify with their lifestyles.

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The Challenge In the mid-nineties Imperial leather was the best known brand of premium range personal care products, but was also successful in the middle and lower market segments through a mix of targeted ads and a consumer base that had few options to choose from. But with increased competition from long standing rivals Lux aggressive marketing and product visibility from new foreign imports Nivea, and Dove, who appeal as trendier, youthful and more vibrant brands, Imperial Leather is slowly losing its market share. Imperial Leather due to its laidback promotional strategies, listless and amorphous brand personality has lost touch with the younger generation who having heard about the brand has never been seduced into actually purchasing its products. If this situation persists, Imperial Leather may not be able to compete let alone become the best selling luxury soap brand on the Indian market.

Current Market Situation 

Current market analysis

Any company which wants to be successful in the modern world must have a concrete knowledge of their competitors. In order to be most efficient a company should ensure that their product has outstanding features in the compet i t ive envi ronment as wel l as they should take in to account the i r  competitors policies. The competitors of Imperial Leather are;

Lux Dove Lifebuoy

 Now we will discuss their features one by one.

LUXThey have the la rges t share in the soap indust ry of India . They have diverse Product mix. Market leader in countries including Arabia, Brazil, India, Pakistan, Thailand and South Africa

Sales of 1.0 billion Euros in 2010 Sold in over 100 countries Lux uses good marketing campaigns.

They hire top models of the industry .Their product comes up with frequent improvement and to compete with them is a hard job.

LIFEBUOY

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I n l i f e b u o y s o a p s , b e a u t y s o a p s a n d a n t i b a c t e r i a l s o a p s a r e a v a i l a b l e separate in the market. It has been one of the oldest brands in India. It is the cheapest soaps available in the market and has a good market share. But its quality is not so good. It is the choice of people who cannot afford high price soaps. But quality conscious costumers never go for lifebuoy.

DoveThe world's number 1 cleansing brand with double-digit growth

Sales of over € 2.5 billion a year in over 80 countries Dove has a good market share in India. Many beauty conscious people prefer using Dove. It can be one of our toughest competitors.

Conclusion

There i s a h igh degree of compet i t ion in the soap market of India . I t requires something extra to be a market leader. Regarding soaps when one uses a soap the th ings he would expect a re tha t i t produce a reasonable la ther , have a p leasant a roma and produce the des i red c leaning ef fec t . Imperial Leather delivers all these values to their costumers.

SWOT Analysis

Strengthsi. E x c e l l e n t M a n a g e m e n t

O u r M a n a g e m e n t d e p a r t m e n t i s r e a l l y g o o d a s i t c o n s i s t s o f p o t e n t i a l workers recruited through a difficult procedure of selection and testing. We have a strong belief in all our managers that they are the finest people in the i r respect ive specia l t ies . They determine s t ra tegies for us f ind bes t methods of doing so, coordinate workers to have their best and implement decisions in a professional fashion.

ii. E x c l u s i v e M a r k e t i n g D e p a r t m e n tWe are proud of our exclusive marketing department as this reveals highly progressive ways to help maintaining our sales and profits. We invest large amounts on this department and it provides us with the returns in square.

iii. S u p p l i e r s a n d D i s t r i b u t o r sO u r c o m p a n y i s m a i n t a i n i n g a w i d e r a n g e o f s u p p l i e r s t o e n s u r e t h e availability of raw material in right time, quantity and quality.

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We also maintain an effective distribution channel that delivers our production time in right areas and quantity.

iv. R & D d e p a r t m e n tOur Research and development facilities are one of the best in the world. We have completely equipped labs with latest equipment. Our researchers work their day and night to generate new and effective products. Imperial Leather is an excellent example of the brilliance of our R&D department.

v. B r i l l i a n t C o s t u m e r C a r e s e r v i c e sWe have a br i l l iant cos tumer care service . We go to grea ter he ights in satisfying out costumers and making them loyal to us. This is a big reason of our enormously growing market share.

vi. I n t e r n a t i o n a l S t a n d a r d I n g r e d i e n t sOur company use internationally certified and suggested ingredients in our  product to ensure health safety of our consumer as well as the environment.  V i i . D e d i c a t e d W o r k e r sWe have a team of dedicated workers who are specialists of their respective fields. They have the ability to the best. They are very motivated and keen to see their organization on top of the business. They work really hard to make their dream a reality. We can arrogantly compare them with any other force.

Weaknessesi. C o s t s

Because of usage of h igh qual i ty raw mater ia l in product ion , expensive r e s e a r c h a n d d e v e l o p m e n t a n d m a s s i v e a d v e r t i s e m e n t o u r c o s t s o f    production raises lowering our profits and increasing our prices.

ii. M a n a g e m e n tDue to our la rge sca le bus iness and a var ie ty of products ; i t somet imes  becomes difficult to manage it all. Even our strong management sometimes falls short to give their best.

OpportunitiesOur innovative product Imperial Leather best suites the cold weather by c a t e r i n g t w o c o s t u m e r n e e d s ( i . e . c l e a n s i n g a n d m o i s t u r i z i n g ) simultaneously. This creates an edge in the competitive environment for us. Nowadays people are becoming more and more beauty and health conscious .This can help the progress of our product.

ThreatsThe economic condi t ion of India i s a b ig threa t for our produce . The value of rupee is constantly falling in the international market which can affect our business extremely adversely. 

Conclusion of SWOT Analysis

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From the SWOT analys is of our company we come to conclude tha t our  current market s i tua t ion i s qui te good. We can enhance our prof i t s and revenues as we have a number of strengths and opportunities ahead and we can eliminate our weaknesses by a good promotion.

Strategic Planning

  Strategic PlanningIt is the process of developing and maintaining a strategic fit between the o r g a n i z a t i o n ’ s g o a l s a n d c a p a b i l i t i e s a n d i t s c h a n g i n g m a r k e t i n g o p p o r t u n i t i e s . I t i n v o l v e s d e f i n i n g a c l e a r c o m p a n y m i s s i o n , s e t t i n g s u p p o r t i n g o b j e c t i v e s , d e s i g n i n g a s o u n d b u s i n e s s p o r t f o l i o , a n d coordinating functional strategies .Steps in the strategic planning;

Following are steps in the strategic planning.

Defining the company mission

Setting company objective and goals

Designing the business portfolio

Planning the functional strategies

Defining the company mission

Mission Statement of PZ Cussons is

“Our purpose in PZ Cussons is to meet the everyday needs of people everywhere.”Setting company objective and goals

Designing the business portfolioWe selected the product development strategy for our product, because we are introducing new product with new features which no other competitor or company is giving. Our features like moisturizing soap and Leather will help us not only compete in the soap industry but also help us to compete in the cold cream a n d m o i s t u r i z i n g c r e a m s e c t o r b e c a u s e t h i s f e a t u r e h a s n e v e r b e e n introduced before. But our

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average prices will help us to grab the market share in a short span of time. Our quality control will make sure that our cus tomers number wi l l increase and increase the cus tomer’s equi ty . So I think from above facts that product development is the best strategy for the time being.

Planning the functional strategies

  Our market department had a questionnaire survey that showed during the winters the most common problem among the people is that they have dry skin. They also showed that most people have dry and normal skin. For this purpose we developed the Imperial Leather, which is rich in moisture and keeps the fresh feeling. From our survey we were able to understand that people will w e l c o m e o u r s o a p a n d w i l l s t a y l o y a l t o u s i f w e c u s t o m e r v a l u e a n d satisfaction. 

Marketing Process

Market SegmentationCompanies today can not satisfy the needs of all the buyers. This is mainly  b e c a u s e b u y e r s a r e t o o n u m e r o u s , w i d e l y s c a t t e r e d a n d h a v e r a p i d l y changing needs and preferences. Rather than trying to compete in an entire market and satisfy all its customers, companies must identify the parts of the market tha t i t can serve the bes t and most prof i tably by segment ing i t s market. Spotting the target market of soaps used for washing face, we considered three types of segmentation simultaneously.

Geographic Segmentation

Geographic segmentation calls for dividing the market into different geographical units such as nations, regions, states, cities, or neighbourhoods. We are planning to make our product available in all the big cities of India. We want Imperial Leather to be the market leader but we will initially try this in big cities.

Demographic SegmentationIn demographic segmentation we divided the costumers on two bases.

AgeWe want to aim Imperial Leather to the age of 12-35 especially under the head of demographic segmentation.

Type of Skin

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In addition to age we also consider the type of skin. We have two types of our brand one especially for dry skin and other for normal skin.

Psychographic SegmentationIn Psychographic Segmentation we divided the costumers in social classSocial ClassImperial Leather is soap, for the peoples of middle class, upper middleclass and upper class. We want to make Imperial Leather a noble product, a product showing status, honour and prestige.

Behavioural SegmentationWe have our soap specially designed for customers who want quality. Our product is aided with special features so we also want to target consumers, who want to get more and more features out of the price they pay. That is all-in Behavioural Segmentation. 

Target MarketingMarket segmentation reveals the firms market segment opportunities. It is a process in which firm now has to evaluate various segments and decide how many and which one to target. The following steps are involved in target marketing;•Evaluating market segments•Selecting target market segments•Choosing a target market strategy•Socially responsible targeting

Evaluation of Market SegmentationIn evaluating market segmentation we as a company have looked into factors like segment size, growth, structure, attractiveness and company recourses and objec ts . Af ter deeply analyzing each segment of the bases of above ment ioned fac tor we have decided tha t the above segmenta t ion wi l l be instrumental of our company in the mission of achieving our goals.

Selecting the Target MarketAfter evaluation of each target market a company must decide which and h o w m a n y m a r k e t s s h o u l d b e t a r g e t e d . W e h a v e s e g m e n t e d t h e w h o l e market into different segments and have chosen few of the segments to cater for.

Choosing the Target Market StrategySince our product i s a t the innovatory s tage of the Product Li fe Cycle (PLC) curve therefore we are using concentrated marketing

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strategy. We divided all the market into segments and will cater for only a few segments with the same product.

Socially Responsible TargetingSocially responsible targeting is basically the benefits you offer to your targeted customers. The values of which you take care of regarding your customers

Hygienic ingredientsWe are enthusiastic to use pure and rich ingredients for manufacturing our soap so that we could deliver the best of health to our dear and importantCustomers.

Environmentally secureWe make sure that our plants and factories are environmentally secure so that our dear costumer’s environment remains safe and sound.

Positioning the Product

Developing Positioning StrategyThis is a two step process. First we have analyzed our product and identified all possible competitive advantages there are number of competitive advantages we have on other first and foremost is the that we have an experience of many year in the field of skin care and secondly we have a world wide experience of marketing, t h i r d l y w e h a v e h i g h q u a l i t y a n d h y g i e n e s t a n d a r d s w h i c h a r e o f   international level. The second step is that choosing the right competitive advantage to promote w e h a v e n u m b e r o f c o m p e t i t i v e a d v a n t a g e f o r b u t w e h a v e c h o s e n t o  promote high skin care in dry and cold atmosphere of winter.

Our Positioning StrategyOur positioning strategy is “more for the same” that is why we are offering the high and unique quality product at affordable price.

Our Positioning StatementAfter us ing Imper ia l Leather Soap, you need not to use expensive cold creams, oils and other tips to keep your skin safe in winter.Communicating Chosen PositionWe have taken strong steps to deliver and communicate the desired position to ta rge t cus tomer . Al l the market ing mix ef for ts a re des igned in such manner that they support our positioning strategy and help to communicate our positioning strategy.

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Marketing Research Defining the problem and Research objectivesThe first step in Marketing Research is defining Statement of the Problem and the research objectives. We defined the statement of the problem for our research as;“To find out the general public’s view about our company and Innovative product, generation of some ideas, and observation of our target market and the levels of loyalty of our customers.”After defining the statement of the Problem we need to set up the objectives of our research. Our objectives for this research are;

To have a rough estimate of the uniqueness of our idea and chances of its acceptance.

T o k n o w t h e g e n e r a l v i e w o f t h e p u b l i c a b o u t o u r c o m p a n y a n d Product

To have some feedback about the company To generate ideas To observe the buying pattern and consumer

behaviour  To have an estimated idea about the loyalty of our

customers For these objectives we had performed thrice of the research types i.e.;

Exploratory research Descriptive research Casual Research 

Exploratory Research is conducted to gather preliminary information. We conducted exploratory research to generate ideas for our company. They may include ideas or suggestions for the improvement of our company, new product ideas. Ideas for our advertisement campaign etc.

  Descriptive Research

Descriptive Research is done to better describe the marketing problems and situations. We conducted descriptive research to know the general view of the public about our company, to observe the buying pattern and consumer behaviour, to have some feedback about the company, to know the general view of the public about our company and product and to have an estimated idea about the loyalty of our customers.

Casual ResearchCasual Research is conducted to test the hypothesis and to study the cause and ef fec t re la t ionship . We carr ied out casual research to

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have a rough estimate of the uniqueness of our idea and chances of its acceptance.

Developing Research PlanA research plan is a written document that outlines sources of information of e x i s t i n g d a t a a n d s p e l l s o u t t h e s p e c i f i c r e s e a r c h a p p r o a c h e s , c o n t a c t methods; sampling plans and instruments that researcher will use to gather new data.

Existing data (Secondary data)Secondary data is the data which is already present. Following existing data can be used for this research; Data present in the company’s record Data consis t ing of feed backs and sugges t ions on our websi te and le t te r   records Data from our previous researches and surveys Publicly available information about market trends and indicators

Primary dataTo gather pr imary da ta we used fo l lowing research approaches , contac t methods, sapling plans and research instruments

Research approachesWe used survey research approach to gather primary data. We conducted various surveys to find out people’s attitudes preferences and behaviour. For this purpose we went to retail stores and asked peoples about their likings and disliking.

Contact MethodsWe used personal interviewing in shops and roads as contact method of our research.

Sampling PlansSampling technique is used to draw samples from a large population to draw conclus ions f rom the la rge groups or popula t ion . Sampl ing technique i s mainly used in making marketing research. Sample size We selected a sample of 100 individuals. This sample consists of teenagers, youngsters and old aged peoples. Type of Sample We selected “Stratified random sample” for our research because it looks easy to have our desired information by this method. Initially we divided our sample in mutually exclusive groups of age and then selected randomly the individuals to solve the questionnaires.

Research InstrumentsWe used ques t ionnai res as the research ins t rument for our research . We designed a questionnaire of 20 questions from which 10 questions were open-ended and 10 were closed ended. A sample questionnaire is put together in the annexure.Implementing the Research Plan

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In this step we brought the strategy and plan into action. We collected all the data, processed it and analyzed it. We floated the questionnaires and had chitchats wi th cos tumers on var ious s tores . We then processed the da ta and brought it in an analyzable form. After doing so we analyzed all the data and found the responses.

Promotion  We carefully studied the different aspects of soap market in India. We have found out that promotion is very important towards success and wide acceptance and recognition of the product as well as the company. There are three methods of Promotion, namely;

1. Advertising2. Sales Promotion3. Public Relations

AdvertisingIn promotion we basically had advertising in our minds which is any paid form of non personal presentation and promotion of ideas or goods by unidentified sponsor. Through advertising we wanted to achieve 3 objectives which are:

a. Informb. Persuadec. Remind

a. InformThrough advertisement we want to inform the public that Imperial Leather is available in the market at two prices (i.e. Rs 50/- and Rs 30/-). We also want to tell them the benefits of Imperial leather and why they should buy Imperial leather instead of other soaps.

b. PersuadeThrough Advertisement we also wanted to persuade the public to buy our product. We want to persuade them that our product has better features and their purchase will be a better deal for them. This would mean turning target customers into potential customers.

c. RemindLastly we would want the advertisement to keep reminding the public that our product is available in the market and they should buy it as it offers them greater utility. This is done so that the customer remembers the product and its features.

Setting the Budget 

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Budget of adver t i s ing depends upon i t s product l i fecycle s tage . Imper ia l Leather i s a o ld product , tha t i s why i t needs Low inves tments on advertising and promotion. It requires an overall recognition and adoption. That is why we have decided to spent two lacks on its initial advertisement.Selecting Advertisement Media Now we needed to decide which would be the appropriate medium for our advertising campaign and what blend we should adapt in order to make it more effective and impressive. We can choose between;•Television•Newspapers•Internet•Billboards•Radio•Magazines•Pamphlets etc we decided to go for Television, newspapers, Internet, Radio and Pamphlets for our in t roductory campaign. Later on as a reminder add we can have  billboards, magazines TV reminder ads and pamphlets•TelevisionTelevision has the greatest degree of influence for customers. It has good mass market coverage while it combines sight sound and motion appealing to the senses. Our advertisement would emphasize on finest skin a person can dream of. Furthermore we would like to present Imperial leather as the bes t product a winter can have . These ads wi l l be d isplayed in a l l c i t ies where television is available. This will enable the firm to create awareness of Imperial Leather and also promote it in the eyes of the customer. Initially, a one minute descriptive add will be launched which will be replaced later on with a 25 seconds reminder because of the high cost of television ads.•Newspapers Newspapers are an important source with flexibility, timeliness, good local market coverage , broad acceptabi l i ty and high be l ievabi l i ty . The same approach is used for newspaper that was used for television. We will initially design 1 ad, it will emphasize on the need to have a lovely skin all over the year and then presenting the solution through Imperial Leather.•InternetInternet is a widely growing means of communication. Information on the internet is immense and organizations nowadays maintain their websites in order to cater the publicity needs. We have decided to upload the adds of Imper ia l Leather on our company’s websi te and a lso launch a separa te websi te for Imper ia l lea ther soap descr ib ing i t s fea tures in a more de ta i led fashion.•Radio

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Radio is an all time hit medium of communication and is still effective. We have decided to broadcast the same jingle of TV commercial on the Radio.•PamphletsPamphlets are a very important mean of advertisement nowadays. Pamphlets can go door to door and also stick on the shops to provide the costumers handsome amount of information about the product. It also builds a kind of cur ios i ty in the mind of the consumer . We have decided to pas te 50 ,000  pamphlets all over the country in the first phase and determine the number of next phase after the results of the first phase. Sample pamphlet is attached in the annexure.

SALES PROMOTIONSales promotion is a short term incentive to encourage the purchase or sale of a product of service. Sales promotion has three fronts, which are;∗Consumer Promotion Tools∗Trade Promotion Tools∗Business Promotion Tools

Consumer Promotion ToolsFrom consumer Promotion Tools we selected the tool of Premium.  We are giving a sachet of shampoo to aid the beauty of our customers. Combination of long, Silky and dandruff free hairs with fresh and healthy face is to complete the recipe of beauty.

Trade Promotion ToolsT r a d e P r o m o t i o n T o o l s a r e t h e i n c e n t i v e s g i v e n t o t h e r e t a i l e r s a n d wholesalers for deeds like carrying a brand, giving special shelves to the product, persuading the consumer to buy the product etc. There are two kinds of t rade Promot ion Tools which are Discounts and Allowances. Our company has decided to follow Allowance tool. We will try display allowance to help promotion of our product. In addition to that we will also give free specialty advertising items such as pens, calendars, notebooks and paperweights to carry the name of the product as well as the company.

Business Promotion ToolsBusiness Promotion Tools contains all the elements mentioned in consumer Promotion Tools and trade Promotion Tools. In addition to these elements business Promotion Tools also contains conventions, trade shows and sales contests. W e t h i n k t h a t p r o m o t i o n o f o u r b u s i n e s s i s b e s t d o n e b y c o n v e n t i o n s . Emphasizing on beauty and skin care we will conduct a huge international convention on Beauty and Skin care.

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Public Relations“Publ ic re la t ions” i s another mass promot ion tool . Bui ld ing good publ ic relations help the company in obtaining favourable publicity and building good corporate image. Major public relations tools include;

News Speeches Special Events

  S ince publ ic re la t ions , i s a very impor tant for a bus iness and i t s success therefore we will try all the possible ways to build good public relations. We can do this by remaining in the positive news, delivering speeches wherever possible such as in a debate competitions or a dine-in or dine-out occasion. We will also try to capture special events holding up a press conference or a press briefing. In the above fashion, we will try to promote Imperial Leather and make it one of the most successful product in the soap industry.

Pricing Strategy &Distribution 

Pricing StrategyWe will use the market skimming pricing strategy because Imperial Leather has a name and a huge market share and customers have a good perception of Imperial leather .We want to a t t rac t the cus tomers by g iv ing more for same. The current customers of Imperial Leather will definitely be attracted towards the product if we use the right price. So that is why we are introducing it with two sizes small and bath size with prices of 30 and 50 respectively.

DistributionF o r t h e d i s t r i b u t i o n o f o u r p r o d u c t I m p e r i a l L e a t h e r w e w i l l u s e a d i s t r i b u t i o n C o m p a n y . We will hire a distribution company and make our distribution through them. The reason is the lack of logistics. Our company is short of some loading and unloading personnel and trucks for the delivery s o w e c a n d i s t r i b u t e o u r p r o d u c t e f f i c i e n t l y b y h i r i n g a p r o f e s s i o n a l distributing company. We will use the company sales force (which we will hire) to cut the cost of t h e d i s t r i b u t i o n a n d i n c r e a s e t h e e f f i c i e n c y . W e w i l l a l s o b u i l d m a j o r   warehouses in the major points. This will help us to provide the product to the customer more effectively. We will do intensive distribution strategy, by g iv ing the product to as many

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out le ts as poss ib le . We wi l l d is t r ibute our  product to wholesalers as well as retailers through our distribution force (which we will hire). We will distribute from large retail stores present in b ig shopping plazas to smal l grocery s tore . This wi l l make our product where and when consumer want. This will provide convince to consumer and give maximum brand exposure. 

Introducing Your Product  DEVELOPING A Old PRODUCTFollowing steps are involved in developing a new product and our company followed these steps very carefully in order to develop a successful product.

i. Idea Generationii. Idea Screening

iii. Concept Developmentiv. Concept Testingv. Product Development

IDEA GENERATIONThe f i rs t s tep in the process of product development i s idea genera t ion . Before innovating any product every company has to generate various ideas t o w o r k o n i t . I d e a s c a n b e g e n e r a t e d f r o m e i t h e r I n t e r n a l S o u r c e s (Execut ives , employees , sc ient i s t s of the company) or External Sources (Competitors, suppliers, distributors, and customers)

⇒Our company’s sources of idea generationFor a sys temat ic search for new-product ideas , our company decided to generate ideas from both the internal as well as external sources.

Internal SourcesWe developed different programs that encourage employees to think up and create new product ideas. We had also conducted meetings with employees of our company to find out new ideas. We designed special task forces of five peoples to work out different ideas for our company.

External SourcesOur company conducted surveys to seek knowledge about the needs and wants of the target customers. We have generated ideas by observing the needs and preferences and buying patterns of our customers. We conducted t a l k s w i t h c o s t u m e r s i n t h e s h o p p i n g m a l l s a n d t h e n t r y t o s o l v e t h e i r   problems by giving a product as solution to troubles.

IDEA SCREENING

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By Nachiket Patil

After idea generation, the second step is idea screening that helps spot good ideas and drop poor ones as soon as possible. We want to go ahead only with the product ideas that will turns into profitable products. A f t e r i d e a s c r e e n i n g , o u r c o m p a n y h a s d e c i d e d t o d e l i v e r v a l u e t o t h e costumers in the form of quality beauty soap this winter. From surveys we had observed that in winter people got their skin dry because of cold and dry atmosphere. They need to use oil, cream and different tips after washing their hands and face to protect their skin. But we discover a formula that protects them from rough and dry skin and they do not need to use different k i n d s o f o i l s , c r e a m s , a n d t i p s a f t e r w a s h i n g t h e i r h a n d s w i t h I m p e r i a l l e a t h e r .

CONCEPT DEVELOPMENT“Imperial Leather” is a specially designed Soap for those peoples who want to keep the i r sk in safe f rom dryness of cold a tmosphere and winter , a t affordable cost.

CONCEPT TESTINGWe have tested the concept of our product by developing a questionnaire about the concept of our product. Then we distributed this questionnaire in children, teenagers and professionals by using Cluster sample technique with a sample size of 100.After interpreting the results of our survey, we have come to know that our  product concept is successful because 85% of our target customers showed pos i t ive a t t i tude towards our concept , especia l ly teenagers and beauty conscious people. Moreover, almost 83% people wanted to buy and try our  product.  Now after considering all the above steps our company has finally decided to develop “Imperial leather” in physical form and launch it in the market.

Product DescriptionImperial leather is available in two forms i.e. Moisturizing and Normal soaps. These are in White and pink colours. Imperial Leather white is a moisturizing soap. It is specially designed to he lp the rough skins to cope wi th the hardships of weather . I t i s a new f o r m u l a o f g l y c e r i n e a n d h y d r o g e n a t e d t a l l o w a c i d . I t h a s a n a d v a n c e d formula of Vitamin E and Leather which makes the skin soft and healthy. It also has a refreshing scent which makes the user feel comfortable and active. Imperial Leather pink is for people having normal skin. It is also equipped with Vitamin E to retain healthiness of skin. A special scent is added to it which gives a soothing effect to the user.

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By Nachiket Patil

Control and Suggestion 

We will maintain a strong quality control department to make our Imperial Leather the best of all its competitors. For this we will make our TQM department more and more efficient.

We would like to make more and more innovations in our product so that it can be the best solution to the problems of our costumers

We will also like to make our distribution to more and more cities and towns.

Our advertising campaign will be watched carefully to give the desired results.

References

Principles of Marketing By Philip Kotler ( Thirteenth Edition) www.google.com www.imperial leather.com

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