New product development strategy
In order to increase the sales and make more company profit, launching a new product is considered as good ways to the new product development strategy. Based on the Dutch Lady product life cycle, it can maintain its loyal customers for those who are always look for the innovated product by using the new product innovation. Dutch Lady Company can launch some products which focus on elderly. They can produce more product like milk, it must contain a lot of nutrients such as calcium, fluorine, copper, vitamin C, D and K. It is because the osteoporosis has become as major health problem in the last few years ago. Therefore, these nutrients had play an important role in bone acquisition. The new product such as milk will be a good nutritional solution in keeping healthy and strong bone, where this can make more consumption of milk in the elderly market also.
The new product development can help Dutch Lady to expand their business to the other countries. From this time, Dutch Lady only exporting their product to Hong Kong, Singapore, and Vietnam. Dutch Lady products are “Halal”, so, Dutch Lady is recommended to expanded more their business to the some other countries like India or Pakistan. “Halal” product will not meet any problem in this particular countries. Although India and Pakistan countries citizen milk consumption is higher, but they can penetrate into market with easily. So, there is a market opportunity for Dutch Lady selling their new product over there. The brand equity of Dutch Lady is quite high in people mind set since the Dutch Lady sponsor athletes in London.
Every product being launched in Dutch Lady has to experience product life cycle. There are four stages such as introduction, growth, maturity, and decline. Although the product are not wanted to be long lasting in the market, but it is require to earn at least some profits. If the product is in decline stage, the promotion strategy is very