Submitted to:

Dr. Seyama Sultana

Associate Professor

School of Business and Economics

United International University

Submitted by:
Mehnoor Zia 111 183101
Nabila Akther 111 183015
Ezma Ismail Era 111 183018
Fatema Tuz Zohora Katha 111 192039

Course:
Introduction to Marketing (MKT 2320)
Section: A

1
 Letter of Transmittal

27th May, 2021

Dr. Seyama Sultana

Associate Professor,

School of Business and Economics,

United International University,

United City, Madani Avenue, Badda, Dhaka 1212, Bangladesh.

Subject: Report on “New Product Development Process”

Dear Madam,
We would like to thank you for assigning us this subject to prepare the report on new product
development process. The report contains a comprehensive study of our understanding,
personal experience and imagination regarding new product development process. It was a
great pleasure for us to have the opportunity to work on this topic. We have endeavor our best
to come out with a good one.
We would be very happy to provide you with any clarification regarding the report. Would
you please kindly accept our report and oblige us thereby.

Yours Sincerely,

……………………………….
Mehnoor Zia 111 183 101
Nabila Akther 111 183015
Ezma Ismail Era 111 183018
Fatema Tuz Zohora Katha 111 192 039

Program: BBA
Course: Introduction to Marketing (MKT 2320)
Section: A
United International University

……………………………………………………………………………………………

2
 Acknowledgement

It gives us an immense pleasure to thank a large number of individuals for their

cordial cooperation and encouragement who have contributed directly or
indirectly in preparing this report.

Firstly, we want to express our gratefulness to Almighty Allah who has given us
the ability to pursue our study. Secondly, our heartfelt thanks to our course
instructor, Dr. Seyama Sultana Mam for giving us this opportunity, support,
courage to work on this innovative task. Without her help it was quite
Impossible for us to do the report and analysis. She always help us to make the
things easy and showed what the reality is. She motivated us to be focused and
work objectively. That helped us to do the report successfully. The work is done
with the present from in the absence of the invaluable guidance, inspiration and
cooperation from our course instructed.
Table Contents
Letter of Transmittal...........................................................................................................2
Executive Summary.............................................................................................................5
Introduction........................................................................................................................6
Product Profile....................................................................................................................6
Major Steps in the New Product Development Process.....................................................7
Step 1: Idea Generation.......................................................................................................7
Step 2: Idea Screening.........................................................................................................8
Step 3: Concept Development...........................................................................................11
Step 4: Marketing Strategy...............................................................................................12
Step 5: Business Analysis.................................................................................................16
Step 6: New Product development Analysis.....................................................................17
Step 7: Test Marketing......................................................................................................18
Step 8: Commercialization................................................................................................22
Conclusions.......................................................................................................................23
Recommendation..............................................................................................................24
Executive Summary

Camfree Ltd Company is a certified Non-Alcoholic Beverages company that

sell beverages manufacture, produce, market, and distribute to its target
customers. The company products vary from the needs and wants of customer
and their health is also the priority. The company oppose high sugars and
additives beverages as much as it can. The importance of new product
development is increasing day by day as the company makes money by Selling
beverages , The establishment plan to be successful by encouraging rightfully
and strive to make the product better than ever. Enterprise focus on providing
healthy and satisfactory drinks with an enhanced vitamins and minerals. The
firm target to give quality, embracing good creative, pursuing growth and
learning. The venture have used the steps of new product development stages to
develop new product creating new opportunity for the company. Total 8 steps
has been followed in finding out the product set-up will be launching at the end
of time after cutting 5 products which has been generating while following the
steps. Orangei, Mangoes, Lemonda, Camfreeco and Softy are the product
startup will work with in development of new product. Finally, the group select
one product at the end to launch the product in the market as all the raw
materials are fully available and will be satisfactory for the customers and
business will be able to expand the business further more.
Introduction:

The name of the company is “Camfreeco LTD”. It have several different kinds of soft drinks
and beverages product with different categories. Recently, it have developed and released
another new product named “Camfreeco”. It is a product that serve different segment of
customer. The product is 100% Alcoholic free, which has other competitors in the current
market. The camfreeco will be processed and sold in bottle of convenient sizes of 500 ml, and
1 liter. The soft drinks bottle will be very much refreshing and provide great support to the
poor health and health conscious people. Our target market is very large with different
segments.

Product Profile

Name of the Product : Camfreeco

Type of Product : Soft drink
Ingredients : 100% chemical free, fat free, saturated fat, protein, cholesterol free.
Container : Stylish recycle plastic bottle.
Container size : 500 ml, 1 Liter.
Product Price : Normal Drink:
1 liter for 35tk
500 ml for 55Tk
Recycle bottle:
500 ml for 30 tk
1 liter for 50 tk
Diet drink:
500 ml for 40tk
1 liter for 60 tk

Estimated Durability : 12 Months from date of manufactured.

Machinery used : Advanced technology imported from USA, UK and Netherlands.
 Step 1: Idea Generation

In the global market customers demand of fizzy drinks are high because of
the sparkling soda and the variance in taste. People are more triggered to the
taste and due to the regular liquid consumption the prefer soda over water.
Currently, soft drinks has been the enormously popular beverage consumed by
the population which is available in market. A clear myth in the market that
soda can cause harm to the health. So a lot of conscious people try to consume
less of soda and many have health issues which is why they are not comfort to
purchase, hence, people demand of non-toxic soda . which is why firm have
decided to launch a carbonated drink with elevated quality and it will full-fill
customers demand in many ways. The product quality will be the highest
priority comparative to the competitors, set-up will main the taste with a change
of ingredients is the soda with total new additions. Creation high quality taste
with ability to all customers in the market the opportunity to consume and
making their health and environment the priority. The venture will collect ideas
from Employees, Customers, Competitors, Distributors, and Suppliers before
for the fizzy drinks organisation will produce.

New product development:

New product development is important for a company. so establishment can get

new opportunity to target new and more customers and make sure the
customers are not bored for the same product that are supplying. Soft drinks
represent 25%
of the beverage segment. Which is why set-up decided to introduce new frizzy
drink to the market naming:
 Orangei
 Mangoes
 Lemonda
 Camfreeco
 Softy

Adding new flavour, new customers, and giving a product which will bet the
competitors out and allowing new group of customers in. Development of a new
products is a risk for a company. so venture will screen the 4 products to get a
better view about this best product can be launched.

Step 2: Idea Screening

Orangei: orangie is a carbonated drink with sweet and tangy feeling of orange
with small orange pieces in it.
Mangoes: mango soda with full of nutrition and new flavours of mangos of
different type. Cream mango soda with no extra form of chemical being used
while being produced.
Lemonda: A tangy soda with salt and sugar in it. Homemade traditional lemon
juice with a carbonated fizziness.
Camfreeco: A soft drink similar like coco cola but with good quality flavours
making the flavour better. One soft drink with different type serving bottles.
Creating bottles for different customers. Bottle one will have normal soda with
good quality reusable bottles for customers who like to use bottles after drinking
the soda. Bottle two which will have the same soda but the bottle can be recycle
as it will be a paper bottle. Bottle three will be a can drink which can be usually
purchased in the market. Bottle four will be for diet zero soda with 0 sugar drink
for health issue customers.
Softy: softy will be a soda made of sweeteners and flavoured ingredients with
large variety in flavour.
Product Price:

The price will be set with a complex set of value which covers the values of the
risk taking, resources, other calculated expensive and the other ability to cover
the product sells. The price is determined by the survey which start-up will set
to know how much can be charged for the product in the market. The chain
have to set a price making sure the service, production, labour, advertisement
and other cost are fully covered alongside the profit. Price should be reasonable
so the price set can be lower and effective for the customers. Promotional
technique will also be made with reducing the price of product and services
agency will provide. Volumizing the sell will be a priority in chain perspective
so enterprise will base the buyer's location to set the price to attract customers.
Offering low price on the other hand, having a good number of customers will
be the start-up goal. As soft drinks already has a hug market globally the price
will be set as per that.

Market Size:

Market size will be determined with the customer association are serving.
Business will target the global field for the soft drink production. The
segmentation of the market will be done by the need, demand and the customers
likes and dislikes. Venture will categories age, region and other variety of things
to measure the size of the markets. The group will be skimming the price with
pricing strategy by which office will charge a profitable but a low price to boost
the demand up so customers will pay and buy willingly. Pricing Strategy will be
set for all price range for upper, middle, lower class people so agency get a
huge market. Development Time & Costs, Manufacturing Costs, and Rate of
Return will be considered when enterprise screen the ideas.

Kids
Teenagers
Younger Generation
Adult

As the rate of return for Orangei and Mangoes is less then 15% will not
proceed with this ideas in the furthest because orange and mangoes has a low
rate of customers and the product are less willing to be consumed by customers
because of them being less unique in flavours and pricing. Due to Covid-19 the
sells return will be low too. Which is why operation will work with Lemonda,
Camfreeco and Softy as the rate of return is above 20% giving multiple more
opportunity in the market to survive in.
 Step 3: Concept Development

In the 3rd step of new product development process, attractive ideas must be developed into a
product concept. A product concept is a detailed version of the new-product idea stated in
meaningful consumer terms. This step should also contain an actual or potential product
image. After that, the new product concepts should be tested on real life potential target
customers and the concept that has the strongest appeal to target customers must be chosen.

At first in this step, we developed our 3 product ideas into detailed product concept.
Concept 1: Affordably priced freecamco. It will contain calories 160mg, total fat 0g, sodium
25mg, sugars 0g, total carbohydrate 30g, and protein 20g. It avoids bad cholesterol, saturated
fat, sugar. It is a chemical free soft drink.
Concept 2: Low priced softy will contain calories 220g, total fat 17g, sodium 25mg, sugars
39g, total carbohydrate 32g, potassium 60mg, and protein 0g.
Concept 3: Affordably priced Lemonda. It will contains calories 160mg, total fat 10g,
sodium 35mg, sugars 30g, total carbohydrate 30g, and protein 0g.

After developing concept, Camfreeco LTD tested out camfreeco, softy and lemonda concepts
with a group of target consumers. After testing product concept with consumers before
attempting to turn it into actual new product. Camfreeco asked consumers to react to it by
answering questions such as those in following –
 Among these 3 types of soft drinks which one do you prefer & why?
 Do you know the advantage of using our drink?
 Will you be satisfied by using any of these products?
 What would be a responsible price for each type of drink?
 If you had to buy one from these 3, which one would you buy according to our
estimated price?
 Do you have any suggestion for further improvement?
After conducting the test, It found that around 60% consumer preferred freecamco, 25% & 15
% respectively preferred Softy and Lemonda as a new product. Again, 48% consumer wanted
to buy Camfreeco, 20% Lemonda & 32% softy. So, it finally choose Camfreeco concept
because it had the strongest appeal to potential target consumers.

Testing Consumer Prefrence of New Product

CamfreecoSoftyLemonda

15%

25%
60%

Step 4: Marketing Strategy

Camfreeco Company wants to develop and introduce a new product. It made a survey of the
market to have a clear idea about market, customer’s needs, demand & want. Bangladesh is a
country of about 150 million people. The total market size of the verage industry is about 20
million and day by day increasing. Having a spread nationwide market of convenient
products. Having a growing prospect of customers of soft drinks product. Among the
population it worked out few segments of customers who will prefer soft drinks product
most.
After observing and analyzing the market and based on the nature of the market Camfreeco
LTD segmented the market in the following sectors:

Geographic segmentation:

1. Dhaka

2. Sylhet

3. Rajshahi

4. Khulna

5. Barisal

6. Chittagong

Demographic segmentation:

1. Children

2. Young people

3. Grown up people

Psycho graphic segmentation:

1. Higher class

2. Upper middle class

3. Middle class

Behavioral segmentation:

1. Health conscious

2. Sophisticated people

3. People willing to take new products from market

 Target Market:
Camfreeco’s primary target market is children and teenagers, but it also favor the product for the
younger generation and the elderly and also go for clients who have a poor perception of
traditional chips.

Positioning:
Because marketing and product differentiation are linked, it will aim to position it’s product
through differentiation. To quickly attract the customer, it will concentrate on it’s core skill,
which is "Healthy." It can ensure great quality at a low price because it’s major speciality is it
is free from chemical, which has a completely new flavor with a delightful taste and is
readily available in our nation. It learned from the aforementioned facts that Camfreeco LTD
has a two-dimensional position in the minds of consumers. This item is of I) great quality and
(ii) moderate cost.

Sales and profit goals:

After conducting market survey we found that Camfreecam LTDs sales volume is around
600,000 units and the expected net profit is BTD 1,500,000. Which has meet the objective of the
company.

Market share:
Comparing the proportion of beverage then they actually got a high market share. So as this
beverage industry has got a huge market share it will be a good decision for Camfreecam LTDs
to launch soft drinks item.

Product planned price:

Camfreeco decided on a Penetration Pricing Strategy for it’s product. Because it is a completely
new product. As the product is new to the market and it want to establish a presence in the
customers' minds, it will keep our prices modest for the first nine to twelve months to
demonstrate the quality of it’s product. Then, over time, it'll progressively raise the price of
product, "Camfreeco LTD." As a result, it've adopted a penetration pricing strategy.
 Distribution:
Because its product is so new in the market, it decided to go with the "Pull Strategy" way of
distribution. Because, as a new product, it must first establish a presence in the minds of target
customers and gain their faith in its product. First, it'll ensure the quality of its goods, and then
will go through the process of creating and executing a great advertisement employing the "pull
strategy." The term "pull strategy" refers to customers actively looking for its goods and
retailers placing stock orders in response to direct consumer demand.

Marketing Budget:
Following the Competition as a Budgeting Method: In this method, its budget is similar to that
of its competition. Task-based budgeting: This is the most efficient method of budgeting. The
budget will be calculated based on the company's numerous tasks. It've decided to go with task-
based budgeting. As a new company, it can be expensive to match what its competitors spend;
on the other hand, there will be a lot more advertising and promotional work than current
competitors.

Marketing Mix Strategy:

Product:
Camfreeco LTD of excellent quality that is completely safe to eat. Because its major
specialty is it is 100% chemical free, it has no fat, sugar free, bad cholesterol free which is a
totally unique flavor with a great taste and also it contains good sources of nutrients, greatest
level of Protein, good Saturated fat, and Carbohydrate in comparison to the other rivals, the
product quality is higher.

Price:
It decided on a Penetration Pricing Strategy for its product. Because camfreeco is a completely
new product. As the product is new to the market and it want to establish a presence in our
customers' minds, it will keep low prices modest for the first nine to twelve months to
demonstrate the quality of our product. Then, over time, we'll progressively raise the price of
our product, "Camfreeco." As a result, we've adopted a penetration pricing strategy.
Place:
Beverage products are in high demand in Bangladesh's market. Freecam LTD decided to
launch their goods across the country after studying the massive market need for soft drinks.
As they are releasing a new product, they are currently focusing on Dhaka. When the
product's popularity grows, it will expand its operations into other Bangladeshi areas.

Promotion:
Because the product is a convenience item, it has decided to go with intensive distribution. It
want to distribute our product in a variety of sites throughout Bangladesh, including
hospitals, superstores, malls, and grocery stores.

Step 5: Business Analysis

Product sales, costs, & profits projections:

Cost benefit analysis is essentially the analysis without which it is quite literally impossible to
determine whether a product holds adequate potential and if the product will be able
appropriate to meet the company’s objectives and goals. In cost benefit analysis, a firm
generally predicts the number of potential buyers for a product, predicts sales volume and
determines the costs that will be incurred in the production of the product and the number of
products sold in a given time period helps in determining the product sales.

Plastic bottles: In the cost analysis of plastic bottles, Camfree Ltd. determined the potential
number of buyers for the plastic bottled drinks to be around 450,000 per year, reaching a
sales volume of around 600,000 units per year. The total budget for the development,
distribution and promotional activities this soft drinks is fixed at approximately BDT
3,000,000 for product development, BDT 400,000 for distribution and BDT 450,000 for the
sake of promotional activities. The expected net profit is to be BDT 15,000,000 per year.

Recycle bottles: In the recycle bottles’ cost analysis the company determined its potential
number of buyers to be around 350,000 per year, reaching a sales volume of around 400,000
units per year. The total budget for the development, distribution and promotional activities
of the recycle bottles is fixed at approximately BDT 7,500,000 for product development,
BDT
450,000 for distribution and BDT 500,000 for the sake of promotional activities. The
expected net profit is to be estimated at BDT 13,000,000 per year.

Canned drinks: While conducting the cost analysis of the canned drinks, Camfree Ltd.
determined its potential number of consumers to be around 50,000 per year, reaching a sales
volume of around 90,000 units per year. The total budget for the development, distribution
and promotional activities of the can bottle is fixed at approximately BDT 20,000,000 for
product development, BDT 400,000 for distribution and BDT 300,000 for the promotional
activities. The expected net profit is to be estimated at BDT 4,000,000 per year.

Soda-zero drinks: The cost analysis of soda-zero drinks will have a potential number of
consumers to be around 400,000 per year, reaching a sales volume of around 500,000 units
per year. The total budget for the development, distribution and promotional activities for this
variant is fixed at approximately BDT 5,000,000 for product development, BDT 300,000 for
distribution and BDT 400,000 for the sake of promotional activities. The expected net profit
is to be estimated at BDT 10,000,000 per year.

Final outcome:
The data collected in the analysis were evaluated against Camfree limited’s mission and
vision, their long terms objectives and goals, like; sales goals and profit goals etc. After
intensive research and close investigation of these four variants, Camfree Ltd. decided to
eliminate the “canned drinks” from product development, since the manufacturing cost is
very highly compared to the profits. It has very less potential customers and less sales
volume. In comparison, the other three concepts appeared to be more lucrative business
ventures, and thus, they were proceeded to the next stage, which is product development.

Step 6: Product development:

In the production line Camfree Ltd. decided to produce the drinks in plastic bottles, recycle
bottles, and determined to produce the soda-zero drinks. The drinks in the plastic bottles and
the recycle bottles are exactly the same, which contains very less chemical and the taste will
be similar to “Coca Cola” with enhancing flavor, which will enrich the drink and attract the
customers. The ingredients of this drinks are carbonated water, inverted cane sugar, citric
acid, natural and harmless artificial flavors, modified food starch, sodium Benzoate and
potassium sorbate (as preservatives), easter gum, calcium disodium EDTA (to protect flavor),
yellow 5, red 40, and etc. It contains 160 calories, 0g fat, 35g sodium, 39g carbohydrates, 38g
sugar, 0g protein in 1bottle which is 355ml.
Furthermore, the recycling bottles are made of disposable papers, which can be reprocessed
by the recycling procedure to make more biodegradable bottles and it will help to protect the
environment. The plastic bottles are made of good quality plastics that can last approximately
for 6months, which is more than a normal plastic can last, and people will be able to reuse it
without being worried of any harms. Many plastic bottles contain lethal chemicals, but the
plastic bottles produced by Camfree Ltd is vastly unalike.

In case of the soda-zero drinks, it will contain no sugar, no harmful chemicals, zero calories,
not a significant source of saturated fat, trans fat, no cholesterol, no carbohydrates, no acid.

In the event of production of these items, the firm will have an ecofriendly production house
situated at Narayanganj. The production house is worked by profoundly experienced directors
and supervisors who guarantee a proficient and effective product line of Camfree Ltd. all
through the entire year. Moreover, the manufacturing house will be a high-tech production
house having all the modern machineries and ecofriendly working system.

Step 7: Test Marketing:

Test Marketing is the Stage Where the Product and Marketing Program are Introduced into
More Realistic Market Settings. Elements that May be used in Test a market by a Company
are Product, Price, Positioning, Distribution, Packaging, Advertising, Branding, etc. The
magnitude of risk and investment involved in the marketing decision must be analyzed. Test
marketing is an essential part of marketing strategy. The most visible aspect of the risk is the
expense of the plant and machinery required to manufacture the new product.

Product:
The number of product concepts ultimately picked is determined by the company's resources
and new product strategy. A corporation Should choose only one or two product concepts and
spend most of its resources producing communication plans. Should it keep four or five
product concepts and test only a few communication strategies for each one, given limited
resources. If product R&D consumes most of its resources, it is more likely to experiment
with concepts than if marketing and communications are its strong suit. The next phase in the
development of our ideal new product is to create a tentative profit strategy that predicts the
payout period. This profit plan, based mainly on estimations from experienced marketing
executives, can exclude product candidates that do not meet management's minimal payout
term.
We decided to launch two types of drinks, Soft drinks, and diet drinks. Each item has two
packaging variations, 500 ml bottle, and 1000 ml bottle. Our product help to improve the
lacking of nutrition’s. Cause these drinks is full of notorious. The diet drinks is for the health
conscious people. This product is sugar free. It contains 0 g sugar and 60mg potassium which
is important for health.The elements will help the diabetes people. On the other hand 38g
sugar
will be provided in soft drinks category which are for young people.It will help them to get
energetic

Price:

For many businesses, changing product pricing can appear to be a hazardous and frightening
task. The online market is rapidly evolving. Many of these modifications may have an impact
on your product's price. New competitors, new products, new production costs, new industry
rules, and various other factors all play a role. We Remember that pricing has an impact on
everything. From profit to brand reputation, knowing when and how to make price
modifications pays off.
In terms of pricing strategy, we choose a value-based pricing strategy. Without specific
feedback from our customers, value-based pricing is impossible. Starting your research on
how much people appreciate your items on social media is a fantastic place to start. Customer
reviews and customer surveys are your most excellent bets for gathering useful data after
that. The feedback you receive will inform you if some of your products are overpriced or if
they provide such a high level of value to your clients that you may raise pricing without
causing any negative consequences. We decided to charge.

Soft drinks bottle

500 ml (0.5 liter) 35 TK

1000ml (1 liter) 55 TK
Soda Zero diet drinks bottle
500 ml (0.5 liter) 40 TK
 1000ml (1liter) 60 TK
Recycle bottle (coupon/voucher) 1 free bottle after 5 bottle purchases

Bottle 0.5 liter (500ml) 30TK

Bottle 1 liter (1000ml) 50TK

Advertising:

Test marketing entails deploying a product in a limited segment of the target market to
determine the viability of a product or service in the target market before a more extensive
roll- out or launch. We decided to advertise our product in a particular area. The main
objective is to gather the information. For this, we will try to convince the shop owner to
carry our product. They will try to sell and collect the feedback. To educate our target
customer we will go for teaser ad. Besides that, we will make billboard in dhaka and
chittagong city.

Branding:

company's branding is what it takes to cut through the noise and get the attention of your ideal
customer. It's what turns indifferent customers into brand enthusiasts and turns first-time
purchasers into lifetime consumers. It's what you'll need to stand out, make an impression, and
propel your company forward. Branding is a phycological thing. By branding, we will try to
make a positive presence in the customer's mind. People's perceptions of your organization are
referred to as your brand. However, branding refers to the acts you take to build your brand.
Branding aids in establishing how you are distinct, remarkable, and one-of-a-kind. It also
demonstrates to customers why they should choose you over your competition. Our product
name is CAMFREECO. The tag line will be “healthy world”. Our product is for health-
conscious people. One bottle a day help our consumer to be healthy.

Packaging:

Packaging is such an important thing in marketing. Packaging is what presents your goods in
the best light, indicates their price and value, communicates the product's benefits to
consumers, and appears in your numerous distribution locations. The product may be the best
on the market, but the packaging must be the primary instrument used to convey this. It's the
first thing people notice, and it has the power to capture or distract their attention in a matter
of seconds. It should be considered a focal point
because it encompasses all other aspects of your sales
and marketing tactics. Packaging is responsible for
preserving the freshness and quality of your product
while also telling your brand's story through bright
designs. It's where you'll find government-mandated
information like nutritional facts and allergy warnings,
which keeps customers safe while also demonstrating
your company's commitment to transparency and
providing items that benefit their lives. Our packaging
will be attractive. In the packet, the customer will be able to see detailed information about
the product. The nutrition element will be displayed here. It will help our consumer to get the
exact information. A QR code will be shown in the bottle. People can check whether the
product is original or fake by scanning QR code.

Standard test market:

Standard test market a type of test market in which a corporation chooses a small number of
sample locations to test the entire marketing mix before launching a new product. Standard
Test Markets are similar to traditional national marketing campaigns, only they are limited to
a small number of cities that are representative of the entire country. In these test cities, the
marketer performs all that it would do in the national market. The product is sold to
distributors and retailers by the sales team. Marketing mix strategies are developed and put
into action. The marketer tracks sales perform customer and distributor surveys and monitors
in-store activities to assess the test market's performance. After then, the results are compared
to the national campaign.

Controlled Test Market:

Control tests are meticulously designed to supply firms with relevant marketing data. A test
may involve assessing consumer response to an advertisement or tracking consumer reaction
to a new product. Standard testing are often more expensive and difficult to set up than
controlled tests. A short test, for example, could be conducted in one or more places within a
retail store. By this type of teste we need to monitor the feedback given by our consumers.
But this is difficult to collect every consumer feedback.
Simulated Test Market:

This type of test give sales projections for new products before they are released. Prior to the
launch of a new product, they are utilized by management to make a "go/no-go" judgment.
When marketers are reviewing a wide range of ideas or concepts for further development at
an earlier point in the product development process, concept screening methods come in
handy. Concept screeners aid in the prioritization and selection of the most promising
concepts. As we are already launching our CAMFREECO, so we don’t need to conduct this
type of test.

We will go for standard test marketing strategy. We will launch our marketing activity in
Dhaka and Chittagong. Our sales team will sold CAMFREECO to the shopkeeper through
the distributor and the retailer. It will help to get the feedback quickly. If we get negative
feedback, we will update our product according to the feedback and if we get positive
feedback we will launch the product in the whole Country.

Step 8: Commercialization:

Time of launch: When the company start to face damages on the sell of other products of the
same company or the economy is down due to some reason camfreeco cannot be launched
and had to be delayed for further improvement.

Launch location: Camfreeco can be launched in a singular or at a multiple location in the

region, state or global market. Location selection is strongly influenced by the resources,
capital, management and operational and can affect the product selling of camfreeco.
Generally undertaking the international distribution systems as per the necessity and goal can
be beneficial. Introducing new product in different location at a time is important to analyse
and allocate easily.

The target consumers will be found with the survey for market research and test. The
company need to act on the plan for introducing the product by implementing decision of the
time and location so the budget of the market can be determined. When a plan is in place the
commercialization process begin.
Conclusion:

In conclusion, The chain have found a new product after using new product stages on
competitive advantage in beverage market. Venture also analysed the factors that influence
the camfreeco to be the new product after idea generating 5 new ideas and lastly set-up
showed variable new product to find the influences advantage product. From the discussion
camfreeco is the developed new products. In working on the new product acceptance, the
company mostly need to promote and launch the product in such way that the consumer
willing to buy the product. It was found that new products development is important since
association have competition with in the market, thus the company need new attraction in the
stock. The new product development initiative is to fight competition, and able customers to
have interest in the brand. However, new product can also confuse customers to buy which
one. To stay ahead of competitors the company innovate and create and introduce new
products in a schedule time.
Reference:
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