Developing a New Product

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  • Topic: Marketing, Total cost, Product management
  • Pages : 10 (2164 words )
  • Download(s) : 159
  • Published : April 23, 2013
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Developing a new product

Background
We have tried to prepare the report in such a way that it reflects the real Development of a new product. And it also reflects the operation and its competitive advantages in the local melamine market.

Objectives of the Report
General Objective
The purpose of selecting the general objective of this report is to identify the steps and methodology of professional business reports.

Specific Objective
The specific objective of this report “Developing New Product in Bangladesh”. The specific objective is to know how to develop a new product in the international market. Also such report gives the opportunity to prepare a real business report that will help us to make reports in future for companies.

Data collection
The data collection method of this study was consisted of both secondary and primary sources. A major portion of needed information were collected from secondary sources, apart from this, the rest of the information were available from Primary sources in respect to the validity of the study.

Secondary Data
We have collected Data for this report from internet.

Primary Data
Primary data are collected directly company.
Scope
We tried to make the report as a reflection of a real product development. This study has covered all useful information related to our project, such as group discussion, their structure, policies marketing, distributions& motivation tools, promotion activities, pricing factors.

Limitations
The main hindrance behind making this report was the lack of row data, lack of co-operation from the information deliverer and more statistical tools could not be used to analyze data to make this report more aesthetic. Lack of time also acted as an important barrier to keep our report small. This report represents the complete picture of the New Product development in Bangladesh.

MENUFATURING ABILITY OF BANGLADESH

Though Bangladesh is an import oriented country but still we have opportunely to export these following goods in various countries.

Soap (Halal)
We have several soap industries in our country. Some of them started exporting after fulfilling local demands. There is a great source of raw materials in our country and most of the ingredients are available and morally cheap in our country. We have advanced technology to make soap with cheaper price. Since Bangladesh is a Muslim country, we prefer to manufacture HALAL soap in there market. So, we have a great opportunity in soap sector.

Soap Highlights:
- Detergent free
- Pure vegetable formula
- Non-alcohol base
- Hypoallergenic* formula
- Contains more than 40% humectants moisturizers
- Excellent lather
- No artificial preservatives
- Halal
- Oily
- Lime (major ingredient)
- Fragrant (special)
- Rinses off without leaving a soap film (will not clog pores or leave a tub ring)
Bangladesh is a Muslim country so consumer want halal soap for bath. Also they like fragrant, oily and lime soap.

They don’t use local soap for bath because they don’t find above attributes in there local soap. That’s why they use “Cleansing Cream”. And they are conscious about religion (HALAL & HARAM).

Melamine
Bangladesh is a big manufacturer country in melamine sector. Sharif and Bnagladesh melamine are the biggest of them and they stared exporting in sub continent. Melamine is a thermosetting plastic. It is strong, lightweight and hard, but can be scratched or broken or cracked. It resists acids and alkalies, and most food stains but can be stained. It also stands fairly warm temperatures, but absorbs heat and softens if t gets too hot so cannot be used in microwave ovens. It's used for dinnerware, mixing bowls, laminated counter tops, and other items. Avoid exposure to hot objects, and prolonged exposure to boiling water. Stains may be removed with commercial cleaners made for melamine. Never use scouring powder or any other abrasive.

As it is cheap in...
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