Launch of a New Product

Acknowledgements
I would like to take this opportunity to thank God, for his constant presence. I would also thank my father and mother for helping through the project and for continuous guidance. All the websites, I have visited have been very helpful, I would like to thank everyone who has contributed to them. Lastly I would like to than my marketing teacher, Mrs. Priya G. for her help. Thank you to all who have filled out my survey, without which, this project would be incomplete. I would also like to thank my classmate, Kala Bada who kindly helped me with the small things throughout the project. Lastly, I would like to thank Mr. Newton Rebello for arranging my meeting with the Chief Operations Manager, Mr. Nitin Puri. Last but not the least, Mr. Nitin Puri, who took the time off from his busy schedule to let me interview him, for that I would like to thank him. ~Samara Colge

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Methodology
For the first part of the project: Under the supervision and guidance of our teacher, we completed the theories of the following: new product, new product development, processes involved, etc. That was followed by making a history of our fictitious company which was then followed by introduction to the new product been launched including the product description. Since the logo for any company/product is an important aspect, the significance of the logo as well as its features and the kind of messages it is trying to convey to the prospect consumers has been discussed. The various kinds of strategies that comprise the marketing mix of the newly launched product have also been formulated according to the present market conditions. A survey of the general market and consumers inclined to the product (i.e., Nail Polish), has been taken as well as from consumers of the product. Based on the information gathered, tables and graphs have been prepared. A launch party for the product (i.e., Alice Nail Polish) has also been organized and a sample invitation has also been given. And, for the second part of the project: A visit to the advertising agency Bates Pan Gulf was completed by giving an introduction to the company, followed by an interview and pictures form the visit. Illustrations of the various ads prepared by them and brochures are also added into the project.

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What is a Product?
In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retailing, products are called merchandise. In manufacturing, products are purchased as raw materials and sold as finished goods. Commodities are usually raw materials such as metals and agricultural products, but a commodity can also be anything widely available in the open market. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project. In insurance, the policies are considered products offered for sale by the insurance company that created the contract. In general, product may refer to a single item or unit, a group of equivalent products, a grouping of goods or services, or an industrial classification for the goods or services. A related concept is sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders, may be subject to product liability.

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Introduction to New Products

Products which are new in one or other of two - new to a company or new to a market; they include existing products which have been improved or revised, brand extensions, additions to existing line, repositioned products targeted at to new markets, and new-to-the-world products. See Innovation; New Product Development; New-To-The-World Products; Product Extension.

Launch of a New Product

New product development (NPD)

The term used to describe the complete process of bringing a new product to market. A product is a set of benefits offered for exchange and can be tangible (that is, something physical you can touch) or intangible (like a service, experience, or belief). There are two parallel paths involved in the NPD process: one involves the idea generation, product design and detail engineering; the other involves market research and marketing analysis. Companies typically see new product development as the first stage in generating and commercializing new products within the overall strategic process of product life cycle management used to maintain or grow their market share. Most industry leaders see new product development as a proactive process where resources are allocated to identify market changes and seize upon new product opportunities before they occur (in contrast to a reactive strategy in which nothing is done until problems occur or the competitor introduces an innovation). Many industry leaders see new product development as an ongoing process (referred to as continuous development) in which the entire organization is always looking for opportunities.

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Why is there a need for new product development in the market?

The significance of new products is by now very much clear. On an average, every firm is very much concerned to ensure its future growth or is faced with the constant threats of competitive innovative developments; or it has to face saturated market conditions for the existing products. The importance of product innovation is clearer from the following points: 1. Company growth: Growth and expansion of a company is heavily built on new products. It has been getting increasing importance in recent years and will reach even greater importance in the future as competition continues to intensify; and the flooding of new products is likely to shorten the life span of the existing products.

2. Higher profit margins: A primary economic conclusion, derived from the analysis of lifecycles of many good products is that, sooner or later every product is pre- emptied by another or else degenerates into profitless price competition. This inevitable fact makes clear the necessity of careful new product planning to maintain profit margins. Another key point is that business success tends to be governed not only by what you do but what others do. This means that, as a business strategy, a company must plan to run ahead of price competition by differentiating its products and introducing new products that can command better margins. 3. Business planning: Companys plans are keyed to and made up of product plans. The projection of sales, cost, capital, facilities and personnel needs can only reflect broad targets, not specific programmes without a product plan. The plans for the growth in sales and profits of the company are at the cost of management interest and involvement.

4. Utilisation of excess capacity: Invariably, each and every company starts with a spare capacity in terms of certain minimum amount of costs which are irreducible. In case,

Launch of a New Product the rated capacity is not used, the cost of production will be normally higher than what is expected. To have fuller use of capacity, the existing sales may be a limiting factor. Hence, new product, in whatever form, is to be produced with the double advantage.

5. Recycling of waste product: In mass production lines, waste, scrap, rejects etc. are in larger quantities even though they may be representing a nominal percentage of input. Recycling of these will go a long way in reducing the burden of cost. It may result in product innovation. Thus, Henry Ford had a problem of disposing of polyethylene lunch packets in his factories. His creative mind started a new line of production out of waste bags thrown by his employees.

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Process of new product development

1. Idea Generation is often called the "fuzzy front end" of the NPD process
o

Ideas for new products can be obtained from basic research using a SWOT analysis (Strengths, Weaknesses, Opportunities & Threats), Market and consumer trends, company's R&D department, competitors, focus groups, employees, salespeople, corporate spies, trade shows, or Ethnographic discovery methods (searching for user patterns and habits) may also be used to get an insight into new product lines or product features.

Lots of ideas are being generated about the new product. Out of these ideas many ideas are being implemented. The ideas use to generate in many forms and their generating places are also various. Many reasons are responsible for generation of an idea.

Idea Generation or Brainstorming of new product, service, or store concepts - idea generation techniques can begin when you have done your OPPORTUNITY ANALYSIS to support your ideas in the Idea Screening Phase (shown in the next development step).

2. Idea Screening
o o

The object is to eliminate unsound concepts prior to devoting resources to them. The screeners should ask several questions:

Will the customer in the target market benefit from the product? What is the size and growth forecasts of the market segment/target market? What is the current or expected competitive pressure for the product idea? What are the industry sales and market trends the product idea is based on? Is it technically feasible to manufacture the product? Will the product be profitable when manufactured and delivered to the customer at the target price?

3. Concept Development and Testing

o

Develop the marketing and engineering details

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Investigate intellectual property issues and search patent data bases Who is the target market and who is the decision maker in the purchasing process?

What product features must the product incorporate? What benefits will the product provide? How will consumers react to the product? How will the product be produced most cost effectively? Prove feasibility through virtual computer aided rendering, and rapid prototyping What will it cost to produce it?

Testing the Concept by asking a sample of prospective customers what they think of the idea. Usually via Choice Modeling.

4. Business Analysis
o o

Estimate likely selling price based upon competition and customer feedback Estimate sales volume based upon size of market and such tools as the FourtWoodlock equation

Estimate profitability and break-even point

5. Beta Testing and Market Testing

o o o o o

Produce a physical prototype or mock-up Test the product (and its packaging) in typical usage situations Conduct focus group customer interviews or introduce at trade show Make adjustments where necessary Produce an initial run of the product and sell it in a test market area to determine customer acceptance

6. Technical Implementation
o o o o o o o

New program initiation Finalize Quality management system Resource estimation Requirement publication Publish technical communications such as data sheets Engineering operations planning Department scheduling

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o o o o o

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Supplier collaboration Logistics plan Resource plan publication Program review and monitoring Contingencies - what-if planning

7. Commercialization (often considered post-NPD)

o o o o

Launch the product Produce and place advertisements and other promotions Fill the distribution pipeline with product Critical path analysis is most useful at this stage

8. New Product Pricing

o o o o o o

Impact of new product on the entire product portfolio Value Analysis (internal & external) Competition and alternative competitive technologies Differing value segments (price, value, and need) Product Costs (fixed & variable) Forecast of unit volumes, revenue, and profit

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Reasons for failure of new products

Top 10 list of reasons new products and services fail: 1. Marketers assess the marketing climate inadequately. 2. The wrong group is targeted. 3. A weak positioning strategy is used. 4. A less-than-optimal "configuration" of product or service attributes and benefits is selected. 5. A questionable pricing strategy is implemented. 6. The advertising campaign generates an insufficient level of new product/new service awareness. 7. Cannibalization depresses corporate profits. 8. Over-optimism about the marketing plan leads to a forecast that cannot be sustained in the real world. 9. The marketing plan for the new product or service is not well implemented in the real world. 10. The marketer believes that the new product and its marketing plan has died and cannot be revived, when, in fact there is the potential for resurrection.

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So, what can a marketer do to save a new product from failing?

Testing the product before launch is one solution. Typically, if a company decides to do a test market before launching the product, managers run a test market. Traditional test markets are fraught with problems, starting with how companies select themoften because they are easy to manage rather than because they represent the actual markets a company wants to reach. Traditional test markets are expensive and competitors can steal ideas and sabotage results. A well-done simulated test market, on the other hand, reduces the risks of launching a flop by collecting data a company needs to forecast the likelihood of success, more securely and more efficiently than a traditional test market.

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Factors that Contribute to Success in New Product Marketing

1. Deep understanding of the customer needs. 2. High performance to cost ratio of the product 3. Being the early entrant into the market 4. Higher contribution margin 5. Larger amount of marketing expenditure 6. Strong top management support 7. Greater cross-functional teamwork among R&D, Engineering, Manufacturing, Purchasing, Marketing and Finance from the beginning

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Selling your product in various markets

How to take your new product to the existing market First, create a sales plan; the market has to be defined as accurately as possible so there is a deeper understanding of exactly who the product is being sold to. For example, instead of all women, it may be working women with above-average incomes and kids under age 5. Instead of all men, it may be divorced men in their 40s with six-figure salaries. The more specific, the more accurately you'll be able to target your sales and marketing efforts, choosing the sales channels most receptive to your product. Next the sales plan has to be developed. This is a simple plan that helps to organize and think through the sales strategy. It should include the following:

Sales goals: These goals should be specific and measurable, not something like selling a million units. It should be based on the nature of the product and should be broken down into manageable parts. For example, sell 50 units to end-users in 30 days and sell 100 units to local independent retailers in six months.

Sales activities: These are tactics - how to plan the sale activity. This part of the plan may include activities like developing a sell sheet to send to independent retail stores. For example, sell direct-to-consumer through a website or via craft shows

Target accounts: The sales plan should also include the accounts through which the product will be sold. If it's end-users, for example, plan how you're going to reach them through eBay, classified ads or your website.

Timelines: Dates to achieve all of the above elements has to be applied so that steps can have a realistic timeline. These timelines should be fluid - if the target is underachieved, the sales plan can help figure out why and define the corrective steps that need to be taken.

Launch of a New Product Finally, follow a proven process for growing sales over time. Most large retailers want to see a track record of successful sales before agreeing to take on a new product. How to build a new market To build your market, begin by selling directly to end-users. This gives the confidence that there's demand for the product and will also create reference able customers that can be contacted for product and packaging feedback before launching the product to bigger markets. The web is one highly effective channel, and the market can be reached through the products website or via a site like eBay. A personal network can be used to begin. A party should be hosted to share the new product with friends and friends-of-friends, sell through local community groups and personal e-mail network. Once feedback is received directly from the customers, the packaging and price point should be reformed before approaching the next market - wholesalers. Start with small, independently owned, local stores. It's a good idea to start with them before hitting larger chain stores because it's easier to get in touch with the direct decision-maker, and they're more inclined to take on new, unique or hard-to-find items to differentiate themselves from larger stores. To sell to these retailers, be prepared and bring a product sell sheet, photos, product samples (if possible) and a succinct introductory letter to explain what's in it for them, highlighting the product's profit margin, features and benefits, and proven sales record. How to expand to new markets Once you've established sales strength with independent retailers and are ready to support new markets, it's time to sell to the big guns. Of course, exactly who those big guns are will depend on your product. For some, it's powerhouse general mass retailers, like Wal-Mart and Target, while other products will fit more specialized but equally powerful retailers, like WilliamsSonoma, The Sharper Image and Sephora. Note that when dealing with these major accounts, the sale is just the beginning of the deal. Handling fulfillment, returns, rollbacks, slotting fees, advertising and more will require strengthening your business's infrastructure and resources.

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Launch of a New Product But back to the sale. What's the best way to approach a larger retailer? Here's a quick cheat sheet:

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Get the correct buyer: One of your biggest challenges is finding the right buyer within a large organization, so do your homework. If you're experiencing roadblocks, consider hiring a distributor or manufacturer's rep who already has established relationships in your industry.

Be prepared: Develop a presentation and have professional-looking sell sheets ready. Your product should also have packaging that's ready to go.

Know your target: Understand what products they already carry and how yours will fit in. Don't waste your time pitching to a retailer who's unlikely to carry your product.

Take advantage of special programs: Some mass retailers, such as Wal-Mart, have local purchase programs that give managers authority to try local items. And other retailers may have different initiatives, such as minority business programs.

Be patient: It can take up to a year or longer before you see your product on store shelves, so don't get frustrated. And if the final answer is no, try to turn it into a learning experience.

Finally, remember there are other sales channels besides the traditional brick-and-mortar retail store. Catalogs, TV shopping networks and online stores can also be excellent methods for reaching your customers.

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About the company - Magnifique Makeup and More

Magnifique Makeup and More was formed in 2000 in an attempt to provide the Emirati women and the expatriates in U.A.E. with the best makeup products in the region to suit the weather and all types of skin. Presently, it has four retail outlets in the U.A.E., and has employee strength of about 100 people. It is estimated that 1/3rd of the women population of U.A.E. use our makeup.

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Logo and Tagline of Alice Nail Polish

Logo Description

The name of the product in so chosen because it means noble or exalted, this is what most women want to look like, and hence can be completed by beautiful looking nails. The font used is Guild of professional actors in pink color. The logo also shows the silhouette noble lady. Tagline

The tagline is self-explanatory. Alice promises to make all nails look and feel good. Every woman and girl wishes to have beautiful nails, with the use of Alices patented product this outcome can be achieved effortlessly.

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What is a Marketing Mix?

The term "marketing mix" was coined in 1953 by Neil Borden in his American Marketing

Association presidential address. However, this was actually a reformulation of an earlier idea by his associate, James Culliton, who in 1948 described the role of the marketing manager as a "mixer of ingredients", who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried. The marketing mix (price, product, distribution, promotion) forms the entire promotional campaign. As stated in Management of a Sales Force by Rosann L. Spiro, Gregory A. Rich, William J. Stanton, when these are effectively blended, they form a marketing program that provides wantsatisfying goods and services for the companys market." The term became popular in the article written by Niel Borden called, The Concept of the Marketing Mix, as explained on the site netmba.com. He started teaching the term to many after he himself learned about it with an associate of his. The marketing mix is a broad concept which includes several aspects of marketing which all inquire to obtain a similar goal of creating awareness and customer loyalty. The marketing mix is not only an important concept, but a guideline to reference back to when implementing the price, promotion, product, and distribution. Those are the four main ingredients of the marketing mix, but there are other components not already mentioned on the Wikipedia site, including, planning, branding, packaging, display, distribution channels, personal selling, advertising, servicing, and physical handling. All in all the current description of the marketing mix is accurate, but missing some vital pieces of information which will allow individuals to gain a better understanding and implement a more effective marketing mix. A

Launch of a New Product prominent marketer, E. Jerome McCarthy, proposed a Four P classification in 1960, which has seen wide use. Elements of the marketing mix are often referred to as the "Four 'P's", a phrase used since the 1960's

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Product - It is a tangible good or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. Intangible products are service based like the tourism industry & the hotel industry or codes-based products like cellphone load and credits. Typical examples of a mass produced tangible object are the motor car and the disposable razor. A less obvious but ubiquitous mass produced service is a computer operating system. Packaging also needs to be taken into consideration. Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation. To retain its competitiveness in the market, product differentiation is required and is one of the strategies to differentiate a product from its competitors.

Price The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product. Place Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet.

Promotion Promotion represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. A certain amount of crossover occurs when promotion uses the four principal elements together, which is common in film promotion. Advertising covers any communication that is paid for, from cinema commercials, radio and Internet adverts through print media and billboards. Public relations are where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word of mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. Sales staff often plays an important role in word of mouth and Public Relations (see Product above).

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Any organization, before introducing its products or services into the market; conducts a market survey. The sequence of all 'P's as above is very much important in every stage of product life cycle Introduction, Growth, Maturity and Decline.

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Marketing Mix of Alice Nail Polish

Product Mix: Alice is a brand of nail polish in a range of colors, launched by Magnifique Makeup and More . Alice is yet another delight to women as it contains a special patented formula, that protects nails to a great extent from chipping and also gives the desired effect. Since Magnifique Makeup and More is a well-known company that is known for its branded products that excel in quality and performance, Alice is sure to do well in the market. Alice will be exclusively available in a 10ml glass bottle (3.5 x 2.5 x 2.5 cm) with a white cap (3 x 1.5 cm). The double brushed applicator has a flat head that enables Alice nail polish to be applied in one stroke across the nail. The label (3 x 2 cm) on the bottle is printed on coated paper and has the relevant details of the product such as place of manufacture, ingredients, barcode, and website. Details are given below: Bottle: Glass Cap: Polypropylene Brush stem: Polyethylene Bristle: Dupont Nylon Nail polish ingredients: Butyl acetate,ethyl acetate, nitrocellulose, acetyl tributyl-citrate, adipic acid/neopentyl glycol/trimellitic anhydride copolymer , isopropyl alcohol, stearalkonium bentonite, acrylates copolymer, styrene/acrylates copolymer , benzophenone-1 and plus /minus of Titanium dioxide, Iron oxides, Ferric ferrocyanide, Mica, Carmine, and Argan oil.

Launch of a New Product Being launched in a wide range of colors such as: Office fun working women #O100 Cherry Red #O101 Mint Green #O102 Lilac #O103 Chocolate Brown This range of colors is exclusively meant and created for the working women.

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Matte Colors -#M200 Matte Red #M201 Matte Purple #M202 Matte Pink #M203 Matte Yellow

New Funky Colors Teen Much #F300 Lime Green #F301 Hot Pink #F302 Plum #F303 Salmon Pink This range of colors is meant for the lively youth of today that will instantly catch their attention as they usually paint their nails with funky flashy colors.

Launch of a New Product Wedding Bells (#W400) Various pink shades (wedding collection)

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Red Lovers #R500 Cherry Red #R501 Absolute Red This range of colors that has two shades of red, specially manufactured for those who have a passion for the color Red.

Baby Girl for the younger ones #B600 Salmon Pink #B601 Lilac #B602 Skin Pink #B603 Sky Blue This range is manufactured for the young girl. These colors are scented and have a milder formula for their delicate nails.

Launch of a New Product Soft Metallic #S700 Mint Green #S701 Pink #S702 Blue #S703 Skin Pink This bold range of colors which have a shimmery finish is also targeted for the youth.

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Dark Metallic #D800 Purple #D801 Pinky Silver #D802 Silver #D803 Bronze This bolder range of colors has a metallic finish to it.

French Manicure Set This set is to give a soft gentle finish to your nails.

Launch of a New Product Night Life #N400 Brown #N401 Black #N402 Blue #N403 Berry This bolder range of colors is for the party animal in you.

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Base Coats For breaking Nails

Pure Gold This shade has pure gold minerals that give your nails an ever so gorgeous look.

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Launch of a New Product Price Mix: Alice nail polish is priced at Dirhams 35 per bottle. Given its high quality and wellknown brand name. The company has adopted Prestige Pricing as its pricing strategy, thereby the customers will think of it as luxury product and judge its quality by its price. Hence Magnifique Makeup and More will create a prestige for Alice nail polish. The price is set high by Magnifique Makeup and More to recover the initial cost of production and to ensure smooth sales. Stepping into the market with a wide range of colors and a price slightly higher than nearest competitors Nivea, Essie and Revlon that have priced their nail polishes at Dirhams 30. Place Mix: Magnifique Makeup and More is making available Alice nail polish in its own outlets in Dubai Mall, Abu Dhabi Mall, Deira City Center and Sahara Center. The location has been decided, keeping in mind making available Magnifique Makeup and Mores new product in the finest places in the U.A.E. Given that Dubai Mall is Dubais largest mall and a prime attraction for tourists and the well-of population, it would be a great retail outlet for Alice. It is located on Sheikh Zayed Road. This mall is popular for Dubai Aquarium, Kidzania and Sega Republic.

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Abu Dhabi Mall is located on 9th street in Abu Dhabi. This mall is frequently visited and is popular among the Residents of Abu Dhabi and also among tourists.

Deira City Center is located in the center of Dubai and is a prime visited area even though there are no big attractions. The mall has Magic Planet and Vox Cinema, which is popular among the youth. Sahara Center is located in Al Nahda, and hence caters as a major retailer to the consumers in the Al Nahda, Al Ghusais and Sharjah areas.

Launch of a New Product Promotion Mix: The objective to promote Alice is to: 1. Communicate the advantages of the nail polish the unique patented formula. 2. Convince the potential consumers to buy. 3. Compete against other leading brands. Magnifique Makeup and More uses informative promotion to promote their new nail polish brand. Alice Nail Polish uses advertising as a key element to promote their product. Alice Nail Polish will be distributed at the launch party. Besides that, Magnifique Makeup and More will distribute gift hampers to win from various radio competitions, it would mainly consist of the new Alice Nail Polish. This is a billboard outside Dubai Womens College

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Launch of a New Product These are billboard ads to be placed on roads in Abu Dhabi and Sharjah.

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Advertisements used in various media -

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Online advertisements -Facebook

Launch of a New Product Advertisements in print media -

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Launch of a New Product Advertisement on the Dubai RTA bus-

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Flyers for distribution in Malls and as supplementary material with newspapers -

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The Launch
The launch party of Alice Nail Polish will take place on 13 October 2011, Thursday at 2000 hours in The Atlantics Asateer (Private Tent). The inauguration will be done by the most gorgeous looking Nancy Ajram, the brand ambassador for Magnifique Makeup and More, and is also well known Lebanese singer, who is big on charity particularly for children.

Formal invites have been delivered to top government officials and royals. CEOs and Marketing Directors of various other makeup companies and the press have also received invitations. Winners of the Guess the Weekly Star competition on Virgin Radio Dubai and biggest fans of Magnifique Makeup and More have received discounted tickets to the party. Free samples also will be distributed to the guest.

Special DJs have been invited to play for the occasion.

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Launch invitation

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Sample Consumer Questionnaire

Q- Do you use nail polish regularly? Yes No

Q- Which company of nail polish do you prefer?

Q- What price do you pay when you buy nail polish from your preferred company? (In Dirhams) 10 20 20 30 30+

Q- Alice Nail Polish is a new brand, but is manufactured by the well reputed company Magnifique Makeup and More, do you ever think that you will try it in the near future? Yes No Not so sure

Q- What price would you be willing to pay for Alice nail polish?

Q- Overall what is your reaction to the product? Poor Fair Good Very Good Excellent

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Q- Any suggestions or comments for this new brand?

Thank You!

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Analysis of Consumer questionnaire

Q- Do you use nail polish regularly? AnswerYes No 9 1

0% 0%

Use of regular nail polish

10% Yes No 90%

Conclusion On regular bases, most women wear nail polish.

Q- Which company of nail polish do you prefer? Answer Most nail polish consumers prefer Nivea and O.P.I. nail polish. Conclusion The biggest competitors of Alice Nail Polish would be the nail polish by Nivea and O.P.I.

Launch of a New Product Q- What price do you pay when you buy nail polish from your preferred company? (In Dirhams) Answer 10 20 20 30 30+ 0 4 6

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Price Paid for Nail Polish

0% 0% 40% Aed 10 - Aed 20 60% Aed 20 - Aed 30 Aed 30 +

Conclusion The price of Alice Nail Polish in rightly set to match of even beat competition.

Q- Alice Nail Polish is a new brand, but is manufactured by the well reputed company Magnifique Makeup and More, do you ever think that you will try it in the near future? Answer Yes No Not so sure 5 2 3

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Use of Alice in the near future

0% 30% 50% 20% Yes No

Not so sure

Conclusion - Most women know about Magnifique Makeup and More and are willing to try the new Alice Nail Polish when mad available to them.

Q- What price would you be willing to pay for Alice nail polish? Answer and Conclusion Most women are of aware of Maginifique Makeup and Mores pricing and hence is willing to pay any price set as they know that quality will be good.

Q- Overall what is your reaction to the product? Answer Poor Fair Good Very Good Excellent 0 0 3 4 3

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Reaction to Alice
0% 0% 30% 30% Poor Fair Good 40% Very good Excellent

Conclusion Most women like the soon to be released Alice Nail Polish.

Q- Any suggestions or comments for this new brand? Answer Add fluorescent colors for teenagers, offers should be given when bought in bulk, special gift wrapping, etc.

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sample Dealer Questionnaire

Q- What brand nail polishes are available in the store?

Q- According to you which brand has the highest sales?

Q- What would be the reason for the highest sales of that brand?

Q- When do the consumers buy nail polish? Not very often During festive seasons Once in 6 months Once a month Very often

Q- Which of the following media, according to you is apt for promoting nail polish? Billboards Radio TV Internet Ads Print Media Other

Q- What is the scope for these products in the future market, according to you? High Scope Low Scope

Launch of a New Product Will develop at a slow rate

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Q-What are the popular colors among teenagers? Q-What are the popular colors among adults?

Thank You!

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Analysis of Dealer questionnaire

Q- What brand nail polishes are available in the market? Answer Neiva, Essie, O.P.I., Shellac, etc.

Q- According to you which brand has the highest sales? Answer Essie and O.P.I.

Q- What would be the reason for the highest sales of that brand? Answer The product quality is very good, The product is placed at an average price, These products are targeted at higher income group, There are varied colors, etc.

Q- When do the consumers buy nail polish? Answer Not very often During festive seasons Once in 6 months Once a month Very often 0 4 3 2 1

0% 10% 20% 40% Not very often During festive seasons Once in 6 months 30% Once a month Very often

Launch of a New Product Conclusion Most consumer buy nail polish during festive seasons.

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Q- Which of the following media, according to you is apt for promoting nail polish? Answer Billboards Radio TV Internet Ads Print Media 1 0 0 4 5

0% 0% 10% 50% 40% Billboards Radio TV Internet Ads Print Media

Conclusion Print media is the most effective way to promote nail polish.

Q- What is the scope for these products in the future market, according to you? Answers High Scope Low Scope Will develop at a slow rate 10 0 0

Conclusion Nail polish is very popular and will continue to be in the modern market.

Launch of a New Product Q-What are the popular colors among teenagers? Answer Fluorescent and bright colors.

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Q-What are the popular colors among adults? Answer Darker and more mature colors.

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Conclusion
Most consumers of the nail polish market are between the ages of 13 50. These consumers use nail polish often and most buy them from reputed companies like NIVEA, ESSIE and O.P.I.. They are willing to try the new nail polish, Alice by Magnifique Makeup and More as it is a well reputed makeup company in the UAE, well known for its high quality and moderate pricing. They feel that Alice Nail Polish is rightly priced and can afford it. They have also suggested various improvements like adding various gift packaging and adding fluorescent colors for the fashionable youth of UAE. Product like NIVEA, ESSIE and O.P.I., will be strong competition in the market as they widely available and are of good quality. Pricing for these products are almost the same as set for Alice Nail Polish. The market is wide and growing. Most consumers buy their products during festive seasons as this is the time when most dress up. Print media is the most effective when it comes to advertising the products.

Launch of a New Product

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Visit to the Advertising Agency BPG Group

BPG LLC Level 6 MAF Tower, Deira City Centre P.O. Box 3294 Dubai, United Arab Emirates

Tel: (+971) 4 2953456 Fax: (+971) 4 2958066 bizdev@batespangulf.com

Interview taken with Mr. Nitin Puri the Chief Operations Manager of BPG Group.

Launch of a New Product 1) What is the history of the BPG Group? Bates Pan Gulf LLC is the registered name of company, currently it is the BPG Group (Bates Pan Gulf Group). In 1980, we were a local advertising agency in UAE (i.e., Pan Gulf Publicity), in 1999 we became part of global network; (i.e. Bates Worldwide) from then we were Bates Pan Gulf and not just Pan Gulf. In 2007 we shortened our name to BPG Group. We are currently 32 years old. 2) Who are your clientele? We are a communications group that deal with the retail sector, financial services, the Government and corporates. Some of our major clientele - Jumbo Electronics, Spinneys, Rivoli Group, First Gulf Bank, DEWA, RTA, etc. 3) How do you cater do your clientele requirements, how do you work with them? We only work with clients who work with us on an ongoing basis, we are called the communication partners for our clients. Suppose some says that they are having a sale or that they are opening a new store we do for them their advertisements and then releases it to the various newspapers, like Gulf News or the Khaleej Times. We work with ongoing clients as it is important to understand the client business, we invest a lot in knowledge, like in technology we have to know all the latest technology, we have to keep up with the trends. If we are working with Jumbo, we have to keep up with what Sharaf DG is doing, what Jackys is doing, what the rest of the competitors are doing, what are the new things happening, etc. 4) Which media do youll use the most? In UAE, we use a lot of print and television, but we also radio ads. Print being the number one newspapers and magazines. 5) How do you insure keep your clients satisfied? Communication is solution based business, we do not communicate unless we have a problem. Every piece of information is useful in solving a problem.

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Launch of a New Product We first identify the problem to be solved along with the client, then we identify the piece of information we are going to use to solve the problem form this we come to know if we have done effective communication, after which we develop knowledge. This knowledge acquired over time is not only a learning experience, but also evaluation for different communications. Example, if there is a campaigning a bank to launch a new credit card, one piece of information is the number of calls the call center gets during the campaign period, asking about details of the new card, so there are various ways of evaluating communication and it changes depending on what the situation is, we do that jointly with our clients and then learn from it. 6) What is the practice of carrying out your work? Advertising has different departments and we have specialists that work in every department. There is the account management that are the face of the agency, they figure out what it is the client wants, they also figure out what the client needs, and they mix it with knowledge and research, with available data o come to a conclusion in terms of what the best solution of the problem or situation could be. Next the creative department swings into action where we have the art directors and copy writers, etc. Here the ad get created, goes back to the client for approval and then it comes back and goes to the next specialized department the studio. They analyze the ad, then pass it to the next department the production, which gets it ready to go out into the media. Then you have the media department that finalizes the ad and place it as per the scheduled dates. 7) What kind of competition does BPG face? All agencies in the world and from many in the UAE, we all compete for the same clients. But to name a specific few there is JWT, BBDO, DDB, etc. 8) What are the marketing strategies that youll use? Advertising agencies do not actively market themselves because we are marketing ourselves every day in the newspapers and magazines, when we do and ad for our clients everyone can see it and that is our marketing. Apart from that, media persons come to interview us; we have campaigns where some are published in trade magazines, etc.

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Launch of a New Product The biggest marketing for an ad agency is the ads we put out in the media. 9) How many branches does BPG have around the world? We have five branches Abu Dhabi, Dubai, Kuwait, Doha and Bagdad. And four affiliates Amman, Bahrain, Cairo and Muscat. 10) How many people does BPG employ? About 195 in all the departments of Dubai 11) Any links that I can refer to for other sources of information about the company? The booklet and our website

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Launch of a New Product

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Bibliography
http://knol.google.com/k/marketing-and-new-product-development#New_Products http://www.entrepreneur.com/article/179084 http://www.copernicusmarketing.com/univers/reasons_for_product_failure.shtml http://en.wikipedia.org/wiki/New_product_development http://www.photofunia.com/ http://www.learnmarketing.net/marketingmix.htm http://en.wikipedia.org/wiki/Marketing_mix Picasa & Picnic Microsoft Paint Microsoft Excel http://www.batespangulf.com/site/index.php