LAUNCHING OF NEW PRODUCT IN MALAYSIAN

MARKET
1.0 Introduction : company profile
1.1 Company background
The “Flower Chimp” is one of the most popular and leading start up brands in the Malaysian
market. The firm is focused on expressing the emotions through flowers on various
occasions. This brand started their journey on May 1, 2016 and it belivise that flowers are one
of the best ways to communicate with each other which helps to adjoin connections between
peoples. The report is focussed on launching products on the new year's events in the
Malaysian market. Thus, it can be said that the flowers are the best way to manipulate the
entire market while being creative on the developmental aspects. When it comes to the
organizational structure and the developmental aspects of flower chimp and the market
respectively; then it could be said that being a start-up organization it is one of the most
trusted “flower delivery brands” in the entire malaysian market.
1.2 Organizational structure
The structure of any organization is the key to their success and it could be said that the
flower chimp has compact structure based on their needs. This firm has raised an amount of 6
million MYR in the last 5 years from the establishment. The funds have raised the most in the
year of 2018 and this is the crucial aspect of the firm's structural developments. Flower chimp
is based on E-Commerce platforms and they have access to the world to deliver their orders.
The firm is situated in the “Mont Kiara” but they deliver their flowers to almost every
accessible place. In their present working structure they have 2 active working persons
including the founder and the executive. At the same time they are having four key
stakeholders who are supporting them to enhance the focus on the aim and objective of the
firm.
1.3 Aim and objective of the company
Depending on the malaysian market and the buying characteristics of the buyer the firm is
focused on the development aspects of their strategies and the objectives. Aim and objective
of any form can be said to be the most critical aspect for the development. Aim of any firm
helps to determine their needs over the market and hence determine how to develop their
products according to the needs of the customers. At the same time, when it comes to the
launch of any new product, then the fundamental aim of any firm needs to be assumed by
analyzing the current market conditions. Here the main aim of Flower Chimp is to develop a
new and creative design for the flower delivery. This is based on the product development for
the chinese new year time in the malaysian market. Thus, it can be said that the main
objective of the firm is to sustain their product for the coming event.
1.4 Developmental aspects
Follower chimp carries out several designs for their flower delivery. They deliver their
products in several regions on which some popular regions are “Kota Kinabalu”, “Penang”,
“Subang” and many more. The firm is expert in enlarging their expertise to enhance their
products sustainability and deliver their bouquets all over the world. The best developmental
aspects for any firm is to develop their products according to the market needs and hence
design their products accordingly. At the same time, one firm needs to have goodwill in the
market and Flower Chimp owns that goodwill and is synonymous to their brand name. The
firm assures the quality of the products and for the coming events this could be a huge chance
to develop their business. Hence it could be said that flower chimp has the potential to grow
on the international market and enhance their business.
2.0 Discussion : Business start-up
2.1 Marketing strategies development
When it comes to the development of the marketing strategies then it can be said there are
several stages to validate one business. These stages are comprehensive and while starting up,
these steps help to determine the critical aspects of the marketing strategies (Brown et al.
2019). These steps can be termed as:
a. Formation:
Here in this step the firm needs to identify the mission of the firm and hence set up a
vision for the coming future. This one of the most critical parts of the start up plans as
if there is no vision then one firm could never go through the development. At the
same time strategy is another huge part of this stage.
b. Validation:
Validation is the main part of the start-up stages. This step consists of several testing
over the assumptions and the critical solutions of assumed problems (Chang et al.
2018). Here in this stage the risk associated with the entire market has to be
determined and hence develop the products according to the needs of the market.
c. Growth:
This is the last step of all the stages. Here in this stage the firm has to establish the
strengthen their “supply chain” and “procurement strategies”. This will help the firm
to find out the key stakeholders which are the most crucial aspects for the growth and
development of the business organization.
 Figure 1: Start-up stages
(Source: www.nexea.co)
2.2 Marketing plan development
There are several stages to build the “strategic marketing plans” which helps to set goals for
the firm to build the future of the business organization. These stages can be described as:
a. Setting up goals
b. Reviewing market activities
c. Analyzing the market
d. Research on the current market situations
e. Identification of potential buyers
f. Determination of budget
g. Development of marketing strategies
h. Scheduling the plan implementation
i. Determination of deliberacy
These are the stages of creating a proper and effective marketing plan which will help the
firm to establish their business. Here in this process the business organization, say, Flower
Chimp needs to set up proper goals to achieve the aim and objective that has been set up
earlier (Decker and Stummer, 2017). At the same time, while planning a start up the most
critical aspect is the budget and therefore one firm needs to find some potential stakeholders
who will help them to ensure the growth of the firm. Thus it can be said that these steps allow
one firm to determine and analyze the entire market based on the needs of the customers and
hence develop[ their plans and objectives accordingly.
2.3 Information gathering about new product
Gathering information is one of the most critical aspects for developing the entire business.
To develop a strategic business plan the firm needs to do a vast research on the market to
identify the risks and the competition on the market (Di Benedetto and Lindgreen, 2018. ). At
the same time if any organisation is going to launch a new product, the best possible way to
know about the products is surveys and face to face meetings. This helps to gather the
authenticated data regarding the new product. Thus reviewing the entire market is the most
critical aspect for a start-up business.
2.4 Demand forecasting for new product
While starting up for a new product then it has to be considered that there are several rival
firms with the same same background. Then the start up firm needs to identify the demands
of the products of the other firms (Ellram and Murfield, 2019). Hence it could be said that
this research will help to determine the needs of the products depending on the developmental
aspects of the other firms. Furthermore, it will help to analyze the marketing strategies of
those firms and hence identify the critical forecasting of their products sustainability
enhancement.
3.0 Business opportunity
3.1 Product sustainability
In the business market gaining new loyal consumers is very difficult for all the company. But
when it comes to the new startup company it will be very critical for them. At the auction
time every one of the countries buys new and innovative products. That is the most effective
time for the start up company. They want to gain new customers at this time. Just like that the
“Flower Chimp” want to win a new loyal consumer base (Foroudi et al. 2017). So they are
focused on their product sustainability. For great profitability the company “Flower chimp”
is not only focusing on the new customers also they are focused on the regular customers. To
create a long-term loyal relationship with the customer brings new offers for all of the
customers. Bring the comparative advantages in business the “Flower Chimp” is set some
policy to make loyal relation with customers. Those are the following below.
● Engage customers - The malaysian start-up company is creating some new strategy.
That is the different offer for different customers. So everyone can connect with them.
Also getting touched with email massaging, social media posting and website.
● Allow to experience - the good experience with the new startup company attracts
most. Also the policy of this company is attractive with their product sustainability
and beauty (Hurth and Whittlesea, 2017). At the time customer experience with the
“Flower Chimp” product made a stronger connection.
● Understand customer relation - For better service the company has to understand the
customer needs. So they have to use an analytics tool that will help to visualise
heatmaps for the better solution.
 ● Provide value - the company knows the customers' needs. So at the time of chinese
new year they provided extra offers like fast delivery, cheap to expensive all
products. So every customer can wish their relatives at the auction time.
3.2 Sales forecasting
Sales forecasting is a process that will estimate the future sales of the company. The newly
started business company “flower chimps” is focused on the chinese new year. At this
festival time malaysia citizens are very much excited to buy and bring new products. So the
company Flower Chimps focused on this time and made a goal and strategy for this
particular time (Keegan, 2017). So companies think of new product launches at this time. So
the sales forecasting for the new product at the festival time is very important. Through this
future analysis company can understand overall revenu. Also the company predicts the
overall performance of the company. The festival time and offers of the company increase the
sales of the company. So for the sale forecasting analysis “flower Chimps” follow the
following steps.
● Terms define - through this stage of sales forecasting companies calculate their total
revenue. that is based on the probability. Also on this stage “Flower Chimps” change
in their activities (Kotabe and Helsen, 2020). And schedule the changed activities.
● Communicate and clarify sales - at the festival time the company realised so many
offers for the new and existing customers. And customers are also excited to buy new
products. So at the huge sale time the perfect communication is decided by the profit
and loss ratio.
4.0 Addressing of ongoing challenges
4.1 Brand creation
Brand creation is the understanding of the business. Creating a brand is mainly about creating
emotional connectivity with customers and company. The brand creation is decided by the
long term loyal relation with the customer. Because the customers want the good product at a
reasonable cost. So the company can provide this kind of product they make a loyal
customer base (Koval, 2018). So that’s why every company has a different loyal customer
base. Just like that “flower Chimp'' has a small loyal customer base. And they want to make it
huge. So the new start up company focused on the brand value creation through product
sustainability.
 Figure : brand creation
(Source : www.freelogoservices.com)
4.2 Brand equity
The biggest challenges for the startup company is brand equity. Brand equity describes the
impact of the company on the customer's mind. In this case the company “Flower Chimp'' is
back a few steps. Because this company is new in the market. So they are not as well known
as the other companies (Lancaster and Massingham, 2017). Those who are marketing from a
few decades ago. So the “flower Chimps” is focused on their productivity to attract the loyal
customer base. And through this they can gain brand equity and compete with other
competitors in the market. The “Flower Chimps” launched a new product for the Chinese
new year festival. At this time so many people in Malaysia are interested in giving gifts to
their relatives. So that time the customers are finding the good and reasonable product for
their relatives (MANUAL, 2019). So this thing is identified by the “flower chimps” and
makes a good and reasonable product for the festival time.

Figure : creating brand equity

(Source : erica adriana.wordpress.com)
4.3 Product setting strategy for market
The product strategy is an outline of the company’s strategic vision for the particular
products. Through the setting of product strategy, companies identify the product location
and success ratio (Martínez-López et al. 2020). Mainy product strategy is making for the
specific market. The target market analysation and product strategy is relatable to each other.
So the company “flower chimps” target the chinese new year timing of malaysian market.
During this time citizens give gifts to their relatives. So for this targeting time the “flower
chimps' ' company makes a strategy to launch a new product. That will be a combination of
flowers, chocolate, cards and so many exciting things. That will be very reasonable and
attractive. That will effort every level of the citizens.

Figure : setting product strategy

(Source : www.slideteam.ne)
4.4 Company managing mass process
At the festival time the “flower chimps” have to handle the mass production. In the mass
production management the company is not used to. So that is one of the challenges for the
“flower chimps” company (Šedík et al. 2018). The method of mass production uses a
standardized process. That is creating interchangeable parts of the product in large quantities
within the low price. This is the solution to overcome challenges.
4.5 Communication to deliver values
The value communication involves the credibility of communication, in the monetary terms
and the distinguished benefits of the product. In the market the sustainable product increases
the communication values. The new launch product of the “flowers chimp” in the chinese
new year time is the path to gain great communication with customers. That will increase the
value of the company.
4.6 Communicating value
The communicating values are also dependent on the reasonable product. So the company
“flower chimps” is making their new launch product sustainable. So the company gets
prospect attention and fulfills their product promises (Tanasiichuk et al. 2019). Highlighting
the new product and encouraging the customers to give to their relatives. Also through the
new product giving a resolution massage to their customer at the chinese new year time.
5.0 Conclusion (100)
This study discussed the new product launch in the malaysia market. So the chosen start up
company is “flower chimps”. That is marketing their products in a few years in the malaysia
market. So describe the company's structure analysis that the company is providing gifts to
their customers for the relatives. In the chinese new year, companies decide to launch new
products for the malaysia market. For this purpose they are making a strong strategy that will
develop the loyal customer base. And also through this new product grow the business
opportunity, brand value, brand equity, market strategy and product value. So that will
develop the business sale forecasting and demand.