New Product Development: How to Launch an Energy Drink

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Development of New Product

Development of New Product

ACKNOWLEDGEMENT
“In the name of Allah who is most Merciful and Beneficent” W
e are very thankful to Almighty Allah who gave us the opportunity, courage and insight to explore more knowledge to complete this whole and for his blessing that have brightened in all parts of our lives and our parents whose prayers always supported us in every task. In scripting this project, we were guided by our experience, knowledge and interest in the subject “Marketing”. Beyond of all the material available we are thankful to our respected teacher “Madam Bushra” for giving us such a deep knowledge about the subject “Marketing” very interesting subject. That is possible due to his unique and natural style of teaching we ever experienced during our academics. And through his motivational behavior we are able to complete this difficult task. Thanks

ALL GROUP MEMBERS

Table of Contents
1. Executive Summary
2. Product
3. SWOT Analysis
4. Marketing Mix Strategy
5. Competitor’s Strategy
6. Company’s Strategy
7. Action Plan

Executive summary
This project is about new product development by new department of Hunny Foods Ltd. Hunny Foods has the distinction of being the first company in Pakistan to use Tetra Pak’s novel packaging formats, Tetra Brick Aseptic (TBA) and Tetra Fino Aseptic (TFA). Hunny Foods has also introduced a number of unique products previously unknown to the Pakistani market, like HunnyLabban, delicious traditional lassi (buttermilk) prepared with pure thick milk and yogurt, Tea Max, cardamom flavored tea whitener,HunnyCandia milk, packed in distinctive food grade plastic bottle, and Hunny Good Day, 100% pure and natural fruit juice, free of added sugar, artificial flavors and preservatives. Now Hunny Foods Ltd has developa new product in the market that is named as “FRESHUP ENERGY DRINK”.

For this purpose first we have conducted the SWOT analysis of our product to see the strengths, weaknesses, opportunities and threats for product. Then we have explained the purposes, benefits and objectives of our products. Secondly we have made a marketing mix strategy for our product. We have divided market into different segments and decided to target young students of colleges and universities that belong to middle class family. We have also paid special attention to the packaging, color and price of the product. We have decided to place the product inMIRPUR UNIVERSITY OF SCIENCE AND TECHNOLOGY. We will promote our product through pamphlets, internet, media etc. Company Profile

Building an excellent reputation over the years, Hunny Foods continues to be at the forefront of product and packaging innovation. By the grace of God, it has achieved market leadership in several food categories with a very strong portfolio, consisting of leading national and international brands – Hunny, Dairy Queen, Tea Max, Skimz, Tropico and Good Day. Apart from its extensive nationwide distribution networks, Hunny Foods is also serving several export markets including South Korea, Bangladesh, Afghanistan and the Central Asian states. Hunny Foods has the distinction of being the first company in Pakistan to use Tetra Pak’s novel packaging formats, Tetra Brick Aseptic (TBA) and Tetra Fino Aseptic (TFA). Hunny Foods has also introduced a number of unique products previously unknown to the Pakistani market, like HunnyLabban, delicious traditional lassi (buttermilk) prepared with pure thick milk and yogurt,Tea Max, cardamom flavored tea whitener, Candia milk, packed in distinctive food grade plastic bottle, and Hunny Good Day, 100% pure and natural fruit juice, free of added sugar, artificial flavors and preservatives. All this and more makes Hunny Foods Pakistan’s number 1 and fastest growing packaged Food Company. As of fiscal 2006, its annual turnover is Rs. 9 Billion. Company’s History

Hunny Foods was established in 1986 and its first product...
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