New Product Development
The ‘Futsal grounds’ around have become popular hangouts for the football lovers, who visit them to derive the pleasure of playing the popular sport. The customers, who comprise mostly of young people going to school and college, play to their heart’s satisfaction. The sense of satisfaction is mutual with even the owners of the Futsal business delighted by the healthy turnout of people. 2. Literature review:
I have focused my research on how Futsal as a new product was developed and how this development led competitors to enter into this market and various innovations that took place as a result of intense competition. Previous findings on this topic “New product development process” suggested that generally a product passes through mainly nine stages: idea generation, idea screening, concept development testing, marketing strategy, business analysis, product development, market testing and commercialization. What I have mentioned and explained in my research is that, what happens after a new product is developed? In case of Futsal business, the stages of its development was long so that it took 2 years of extensive research to establish 1st Futsal arena.
3. Market Segmentation, Targeting and Marketing Mix
After visiting a couple of arenas I found that futsal arenas segment market primarily on the basis of gender and than age group.
Therefore the an appropriate marketing mix for such business would be: Price: I found that the price is different in different location and price also depends on what time people are playing futsal but I can say that the average price is RS 1500 per hour. Place: Place is the indoor artificial turf.
Product: Product is fatal itself which is played indoors.
Promotion: Generally I found that Futsal arenas promote through social networking sites like Facebook, many arenas have their own website like GAA where customers can book online.
4. How it started?
Futsal Arena (FA) — located at Godavari Alumni Association (GAA) in Thamel — is the first Futsal stadium in the country started by two football passionate brothers, Nawang Nima Lama and Tshering Norbu Lama. Nima, a business studies graduate, explains, “Tshering used to play the game when he was studying in Thailand and when I visited him I too fell in love with it. Knowing that this game has a huge scope in our country, we decided to introduce it here. After two years of extensive research about the game, finding the right suppliers for equipment and space hunting, we finally opened FA in May 2011 after registering the company Kaizen Trading Pvt Ltd (KTPL). The Futsal Arena at the Godavari Alumni Association (GAA) in Thamel had introduced Futsal, also called “hall football” or “indoor football,” for the first time in Nepal in 2011. The court in the Futsal Arena, surfaced with synthetic turf, is 25 by 15 meters. When the first of such arenas was opened in 2011 by (GAA) at Thamel, it charged Rs. 1200 per hour for the 1st week and then increased to Rs 2500 per hour.
HOURLY COURT RENTALS @ FUTSAL ARENA, GAA, THAMEL:
GAA charges high price which is more that average price RS 1500 but instead the business is good says Mr. Nima but the reason behind is is that GAA is different that any other futsal. When I asked a person named Sabeer Khadka why he plays fustal as GAA by paying Rs 1800 as he can play in some other futsal by paying RS 1500 or even RS 1200. He said that it’s a completely different experience as the truf is good and even GAA host several tournaments to utilize young talents, it has got a good cafeteria.
Time of Week
References: Rangashala Blog: Author
Rajesh Maharjan, Lalitpur Futsal
Purnima Lama, Prismatic Futsal
Nawang Nima Lama, Kaizen Sports Sloutions
Mr Ramesh Shrestha, Prismatic Futsal
Himalayan Times and Gorkhapatra
Nabin Bir Basnet, Best Futsal Pvt. Ltd
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