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IN THE NAME OF ALLAH WHO IS MOST MERCEY FULL AND BENIFICIENT

NEW PRODUCT DEVELOPMENT:

PROJECT OUTLINE: * Acknowledgement * Mission * vision * Idea Generation * Idea Screening * Concept Development And Testing * Business Analysis i. Demand Estimation ii. Cot estimation iii. Capital estimation * Marketing Plan i. Customer analysis ii. Segmentation iii. Positioning * Marketing mix i. Product ii. Price iii. Place iv. Promotion * Production development * Market test * Commercialization

ACKNOWLEDGEMENT

All the Acclimations and Appreciation are for Almighty ALLAH, the Compassionate; the Benevolent. That knows the mysteries & secrets of universe.
We would like to show the special gratitude to SIR IHSAN-U-REHMAN who provided with us knowledge Vision about the management.
At the end, we would like to thank all who directly or indirectly help us in making the report

DEDICATION:

First of all we would like to thanks ALLAH ALMIGHTY for giving us opportunity to study in such a good institution. We feel pleasure to dedicate this project on BANANA CRISPS to our beloved PARENTS, then our subject instructor SIR HAFIZ IHSAN –UR-REHMAN and at the last to our university that is PUGC.

Mission statement

“Supporting our environment & community while maintaining a healthy responsibility to our customers through the food we serve

Vision statement

“Our vision is to provide healthy, crunchy, handsome & wholesome meals in form of snacks .we believe in being ethical in our all claims and dealings with the customers, dealers & organizations

Industry Analysis:

Industry analysis includes: * ‘’all the food manufacturers in Pakistan’’ * Our competitive brands and snacks * Future prospects of industry in Pakistan

FOLLOWING FOOD MANUFACTURER INDUSTRIES ARE WORKING IN PAKISTAN * KIMS & SILVER LAKE * AKBAR ALI & SONS * NISAR FOOD INDUSTRY * PARADISE FOOD INDUSTRY * FAHEEM FOOD INDUSTRY

* ALI BABA AND SONS

OUR COMPETITORS: * KOLSON * LAYS * SUNCHIP * SUPER CRISP * GOLDEN CHIPS

NATURE OF BUSINESS:
The nature of a business may be * Sole proprietor ship. * Partner ship. * Joint stock company.
We start business as a partner ship firm .which will registered under PARTNER SHIP ACT 1932. The authorized capital is RS-15,00,000.
LOCATION OF BUSINESS:
Our business named RAHSAN pvt ltd COMPANY which is located on
152 –C, SATELLITE TOWN, GUJRANWALA. * The total area of our factory is 1.5 canals, consisting of 3 portions * One main office of 12*20 feet on ground floor. * Stock room in basement of 1 canal. * The production unit is located in the 2nd floor within 1 canal area. * The packing plant is situated in ground floor. * There are also 3 servant quarters of 8*6 feet per.

------------------------------------------------- HIERARCHY
WE HAVE A WIDE SPAN OF HIERARCHY…
-------------------------------------------------

-------------------------------------------------
IDEA GENERATION:

-------------------------------------------------
In this step new ideas are generated for products & services. Ideas are generated INTERNALY & EXTERNALY.

* Internal source of idea generation for our product. * External source of idea generation for our product.

New ideas Generated:
There are few ideas which are generated for development of a product. 1. -------------------------------------------------
READY TO DRINK TEA:

In market ready to drink coffee or instant cream coffee is available but not even a single type of constant tea is here. So we will introduce “TEA BAGS” containing tea, powder milk, icing sugar, in various flavors.
Merits:

To prepare tea, the user just need a cup to hot water and then the tea bag is to put into that water. Delicious, aromatic tea is ready without any other thing to add.
Moreover:

Tea bags are available in two different types: * With Sugar * Without Sugar 2. -------------------------------------------------
SALTED CAKES:

Yes, cakes are always available in different varieties, but similarity of sweetness. We will introduce “SALTED CAKES” with lairing of chicken, cheese, vegetables.
Recipe:

It is prepared in the similar manner in which cakes are baked. But without using butter with sugar, sweet creams, chocolate etc, here in it cooked chicken, eggs, vegetables etc, are filled in the salted cakes.
Flavors:

Such cakes may be introduced in such flavors: * Cakes with chicken * Cakes with Pasta * Vegetable cakes 3. -------------------------------------------------
TWO IN ONE HAIR STRAIGHTNERS:

There are many technologies for various hair straightness. But we will launch a “TWO IN ONE HAIR STRAIGHTNERS”.
Functions:

In this HAIR STRAIGHTNER, there is a technology which will help us not just straight our hairs but also color them.
“There are two rods in the hair straighter which contain hair dye colors. When we push the button of the rods and start straightening hairs, the color in the rods gives color to the hair and steel plates straight the hair is usual manner”

Moreover: The rods are refillable also, according to choice of user. The straighter is useful for both. * Women * Men 4. -------------------------------------------------
MEDICATED WRIST WATCH:

We will introduce a new technology for the patients of blood pressure and diabetes. A “WRIST WATCH” which will tell not just time and date to users but also the blood pressure rate with the help of pulse rate. Main advantage:

The basic purpose of this watch is to help the patients, especially old aged and disable, who cannot go to the doctor for checking of their blood pressure again and again. With the help of this watch they can check BP easily.
Shape and function of watch: It is a watch of three dials.

5-COLORS SCANNER FOR PAINT DEALERS:

It is a complex computerized scanner pulse point mixing machine.
“In this machine, when a color is come close to scanner, scanner judge the name of color and if we click the button to mix that color, the mixing machine attached to scanner produced that particular color in paints with specific quantity”
More useful:

In the shops and warehouses of large paint dealers like “ALI AHMED & SONS” in Gujranwala the point mixing and producing unit is installed, but it will produce only specific color. If we attach scanner with these machines, there will be more variety for colors, ease for customers and profits for dealers. 5. -------------------------------------------------
MULTIFUNCTIONAL WEIGHT MACHINE:

Simple weight machine tells us about weight of person standing on machine. Here we have a new technology for the weighting machines.
“Which will tell us not just the weight of person standing on machine but also the height of person, the recommended weight for that particular height according to gender? But also tells about the difference in actual weight and ideal weight”
Benefits:

People can measure there weights and also can judge that whether they are over-weighted or underweight according to height, gender and age.

6. -------------------------------------------------
BANANA CRISPS:

A sort of bakery items like chips, it is made under similar process as chips do but instead of potatoes banana are used.
“Green or raw banana’s are used in its manufacturing”
It is delicious, tasty, crispy and healthy item, which is still not introduced in market of Pakistan yet.
-------------------------------------------------
8-TOUR TO PAKISTAN BY A TRANSPORT COMPANY:
-------------------------------------------------
(FOR GENERAL PUBLIC)

Here, we can introduce a service for the people enthusiastic for tourism, but cannot afford it independently, Here:
“A transportation Co. like DAEWOO will introduce a service of yearly tour to particular areas in Pakistan”
It says, at every March of a year Co. visit a specific location, museums, lakes, festivals, waterfalls etc, for complete month and around Pakistan for this service Co. receive charges, a rule of pre-booking for general public is, and also Co’s agents provide complete information to tourists.
-------------------------------------------------
9_SERVICE FOR CAR OWNER:

We will launch a new service for car owner of a particular automobile Co. Here: the company’s showrooms after service to all its register and willing customers that if they feel any problem like * Break problems * Engine * Accident * Silencer etc
Within a particular limit suppose 250 kilometer, company’s machines at the phone call of customer, (who is enrolled and who pay service charges of Rs5000/- per year) attend customer , solve their problem.

Benefit for company:

Company receives particular amount every year from customers whereas, face the problem and charges for repairs once or for twice –trice a year, as compare to cost profit earning and customer satisfaction is high.

IDEA SCREENING:

------------------------------------------------- Idea screening is a process to spot good and possible ideas and drop poor ones. Ideas are selected on four bases: -------------------------------------------------
Basis for idea screening:

On the following basis we finally screened out three good ideas for project purposes:

* The basic of market targeted for product * Who are our competitors and what are their products and features? * What is Market size for product development? * The basic development of cost, time, techniques and skills etc. * The willing price for products.

Idea screened for development of product:
We have selected three ideas, depending on basic points for ideas screening. The ideas selected are comparatively more customer oriented, easy and helpful for customer needs.
Idea No.1:

The idea of “Hair straighter” which is also used for “Hair Coloring and Sticking”
Idea No. 2:

The idea of “On the Way Car Repairing Service” it is easy and a new idea to work with. A feasibility report can be prepared and a new sponsor from automobile company can be achieve Moreover; it will be profitable to introduced and launch this service for both company & car owners in Gujranwala
Idea No. 3:

The idea of “BANANA CRISP” can be successfully launched & introduced in Gujranwala. It is easy, profitable and less cost oriented.
Thus, these are the ideas screened out considered to be more reasonable, profitable and suitable for marketing project.

CONCEPT DEVELOPMENT &TESTING

This step of product development is basically divided into two steps. * Concept development * Concept testing

1. -------------------------------------------------
Concept Development:

-------------------------------------------------
“Concept development is the developed product ideas into alternatives product concept” * Idea Selected:

The idea selected after going through its pros and cons is “BANANA CRISPS”.
Possible Alternatives:

Following are the some profitable alternatives bakery items made of banana’s are; * Banana Cakes * Banana Ice cream * Banana Bread * Banana Biscuits * Banana Crisps * Banana Jam 2. -------------------------------------------------
Concept Testing:

-------------------------------------------------
“Testing new product concept with a group of target consumer to find out if the concept have strong consumer appeal”
Our Strategy for concept testing:

We decide to test our product concept through “QUESTIONNAIRE” to customers and we got favorable response for our idea……………

Questionnaire

Respected respondents: We, the students of M.COM at University of Punjab Gujranwala campus are struggling on the production of new product named as ‘BANANA CRISP’. And for the testing of our product we need your opinion about it. This is purely academic testing and all your responses confidential. Your unbiased responses will be highly appreciated. 1. Gender………………? ◊ Male ◊ Female 2. What’s your age……………? ◊ 20orless ◊ 31-40 ◊ 51-60 ◊ 21-30 ◊ 41-50 ◊ Above 3. Marital status…………..? ◊ Married ◊ Unmarried 4. Qualification………….? ◊ Matriculation or below ◊ Bachelors ◊ Intermediate ◊ Masters 5. Do you like banana………? ◊ Yes ◊ No 6. Do you think banana is beneficial for your health……..? ◊ Yes ◊ No 7. Do you prefer any other product supported by banana……….? ◊ Yes ◊ No 8. Do you like if banana crisps are introduced in Pakistan……..? ◊ Yes ◊ No S.No | Indicate how much you agree or disagree with this statements? | Strongly Agree | Agree | Undecided | Strongly disagree | Disagree | 9. | Does banana crisps must introduce in Pakistan? | | | | | | 10. | Does banana crisps will be healthy for your family? | | | | | |

7. What are your views about BANANA CRISPS………..? ……………………………………………………………………………………………..……………………………………………………………………………………………..…………………………………………………………………………………………………………………….. -------------------------------------------------
RESULTS OF QUESTIONNAIRE

This questionnaire has been filled by almost 50 different people in order to understand the taste of possible future customer and from replies we are able to conclude it in the following manner.

DEMAND ESSTIMATION.
Demand estimation is a process with the help of which we can predict our future forecasted demand of product.
For estimating the demand of banana crisps we get assistance from experts in the fields of economics.
THE PROCESS OF DEMAND ESSTIMATION:
1-there will be complete identification of all variable inputs that effect demand * Estimated price of banana crisps =Px * Personal disposable income =I * Price of competitive brands =Py * Prices of vegetable oil =Po * Advertising expenses =A
2-regression analysis of elasticity of demand from industry analysis.
3-the use of world recognized formula used to estimate demand i-e
Qx=1.5-3.0Px+0.8I+2.0Py-0.6Ps+1.2A
4-Here px = rs3 per pack
I = Rs2.5 in trillions of rupees per pack
Py = rs5 per rupees per pack
Po = rs3 in rupees per pack
A = RS5 for banana crisps in hundreds of thousands of rupees per year
5-putting values in formula
Qx = 1.5-3(3)+0.8(2.5)+2.0(5)-0.6(3)+1.2(5) =9 million packs per year
DEMAND ESSTIMATION:
The term demand estimation of a product means ;
The volume of a product or service that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined level and a mix of firm marketing effort.

CAPITAL INPUTS:
Land and Building * Land of around 2 canals, with built up area of 1.5 canal would be adequate. * Production hall would occupy around 60 sq.mtrs. * Balance area can be utilized for storage and packing * Land may cost Rs. 500,000/- * The cost of civil work could be Rs.2.50 laces. particulars | Length(canal) | Cost.(rs) | land | 2.0 | 500,000 | building | 1.5 | 250,000 | total | | 750,000 | | Machinery:
Machineries required processing around 30 tones of banana chips with 300 working days and 1 shift, working shall be as under. The total cost of machinery is expected to be Rs. 1.55 lacks.

Miscellaneous Assets:

Some other assets like furniture and fixtures, packing tables, storage racks etc. would cost
Rs. 75,000/-
. Utilities:

Power requirement shall be 7.5 HP whereas about 4 LPG cylinders will be required every month. Per day water requirement will be 1000 liters. Raw and Packing Materials:

The most important raw material will be fully grown but unripe (raw ) bananas. The monthly requirement of 2.5 tones even at 100% utilization is not very significant. Edible oil, salt and spices shall also be required in small quantity and can be easily procured. Printed polythene bags along with corrugated boxes shall be required for packing for which prior arrangements must be made.

Preliminary & Pre-operative Expenses:
There will be several pre-operative expenses like registration, establishment, travelling and administrative charges, interest during implementation, trial run expenses etc. An amount of Rs. 50,000/- is provided towards that.
Working Capital Requirements:
The required working capital is almost RS-400,000.

MANPOWER:

Particulars | Nos. | Monthly salary (RS) | Total monthly salary | Skilled workers | 8 | 6000 | 48000 | Helpers | 3 | 2250 | 6750 | Salesman | 4 | 2500 | 10000 | | | Total | 64750 | |

COST ESSTIMATION: RAHSA pvt ltd.
Estimated income statement.
For the year ending 31-12-2011 Particulars. | Rs/- | Rs/- | Net sales (9million packs*rs35 each)) | | 31500,000 | Less: cost of goods sold.(schedule 1) | | 366,245 | Gross profit. | | 31133,755 | Less: operating expenses’. | | | Marketing expenses | 857,000 | | Administration expenses | 798,000 | 1655000 | Operating income | | 29478755 | Other income and expenses | | | Dividend income | 2500 | | Interest on debenture | 350000 | 347500 | Less :tax | | 570000 | Net income | | 28561255 | particulars | RS | RS | RS | direct material cost | | | | banana purchase | 276045 | | | Add: freight | 15000 | | | less: returns & allowances | 2500 | | | Material available for use. | | 288,545 | | Less:material at the end. | | 180,000 | | Cost of material used. | | | 108,545 | Direct labour used. (48000*12) | | | 576,000 | Factory overheads | | | | Electricity CHARGES | | 250000 | | Salaries | | 81,000 | | Indirect materials | | 120000 | | Carriage OUTWARDS | | 1500 | | Fuel and power | | 161,200 | | Depreciation. | | 121000 | 734700 | Cost of goods available for manufacturing. | | | 1419,245 | Less:work in process ending inventory. | | | 557,000 | cost of goods available for sales. | | | 862,245 | Less:finished goods inventory. | | | 496,000 | cost of good sold | | | 366,245 |

CAPITAL ESSTIMATION:
RAHSAN PVT LTD.
Balance sheet.
December 31, 2011 LIABILITIES AND CAPITAL | AMOUNT(RS) | ASSETS | AMOUNT(RS) | Authorized capital | 1500000 | Current assets | | Subscribed and paid up capital 500000 | | Cash | 830000 | Add: income-tax | 28561255 | Bank | 250000 | Account payable | 20000 | Account receivables | 46000 | Wages payable | 6000 | Pre paid insurance | 34000 | Interest | 2000 | Inventories | | Long term debts | | Materials | 180000 | Debentures | 80000 | Work in process | 557000 | Bank loan | 5000 | Finished goods | 496000 | | | Fixed assets | | | | Land | 500000 | | | Building | 250000 | | | Machinery 155000 | | | | Less dep. 121000 | 34000 | | | Misc. assets | 75000 | | 25697255 | | 25697255 |

FIXED COST: Fixed cost= land+ building+ manufacturing unit+ permanent labor + fixed depreciation
=500000+250000+155000+576000+121000
=RS 1602,00
PER UNIT FIXED COST

Per unit cost= Fixed Cost Units

=RS 1602,000 8500000packs RS 0.18847/PACK
Variable cost: Variable cost=Total FOH+ Selling expenses + ADMN expenses+ Taxes +fuel + electricity =734700+857000+798000+570000+250000+161200 =RS 3370900

PER UNIT VARIABLE COST PER UNIT VARIABLE COST=TOTAL VARIABLE COST UNITS =RS 3370900/850000PACKS =RS 3.9658 RATIOS: Gross profit ratio=gross profit/net sales =RS 31133755/900000 =RS 34.5931/pack Net profit ratio=net profit/net sales =RS 28561255/900000 PACK =RS 31.7347/PACK Operating expenses ratio=operating expenses/net sales =RS 1655000/900000 =RS 1.84 /PACK

Segmentation for Banana Chip:

MARKET SEGMENTATION:

-------------------------------------------------
“Dividing a market into smaller group of buyers, distinct need, characteristics, or behavior who might require separate products or making mixes”
We have decided to segment our market on the basis of geography. Banana chips will be available on all the urban areas of Gujranwala.
TARGET MARKETS:

A set of buyers sharing common needs or characteristics that the company decides to serve. According to our resources and according to company’s objective we are targeting children of all ages as main consumers of our product that is banana crisps.

MARKETING MIX:
In marketing mix there are 4p’s involved.

PRODUCT
-------------------------------------------------
Anything or activity that can be offered to a market for attention, acquisition, use, or consumption that might satisfy the want or need is called product.
PRODUCT INCLUDES:

* Physical product * Service * place * organization * Event * idea * Person

LEVELS OF PRODUCT:

MANUFACTURING PROCESS
It is very well established and standardized. Damaged or ripe bananas are taken out during inspection and only good quality unripe bananas are washed in water. Then they are peeled and trimmed before slicing or cutting them in the required size. Then they are washed in boiled water and dried. Dried pieces are deep fried and then either salt or spices or both are applied on them. After cooling, they are packed. The process flow chart is as under

PRODUCTION UNIT REQUIRED FOR BANANA CRISPS:

CORE BENEFIT OF BANANA CRISPS:

* The most basic level * What the buyer is really buying * Problem solving benefit or service that consumer seek

Banana chips are deep-fried, dried slices of banana that are coated in sugar or honey. They are pale yellow, round banana slices and are often sold in bulk and eaten as snacks or sometimes used in baking. Banana chips are crispy, flavorful and sweet and are quite high in calories and fat.

ACTUAL BENEFIT OF BANANA CRISPS: Convert core benefit into actual product

* Developing product and service features and design, quality level, brand name, packaging distribution etc.

Recipe of Banana Chips INGRIDIENTS 1)5 Raw Bananas (peeled)

3) Salt to taste
-------------------------------------------------
HOW TO MAKE BANANA CRISPS: 1. Put the peeled bananas in salted iced water. 2. Chop the bananas in water and add turmeric 3. Keep in water for 10 minutes and then drain out water completely. 4. Transfer to a kitchen cloth to remove the moisture 5. Heat oil till it starts fuming. 6. Deep-fry the slices till almost crisp. Add few slices at a time. 7. Prepare paste of 1/2 tsp water and 1/4 tsp 8. Salt. 9. Add this paste to oil. This will make the slices crispier. 10. Drain the chips on an absorbent paper. 11. Cool and store them in an airtight containers. | | 2)1/4 tsp Turmeric powder 4) Oil for deep-frying |
Packing of Banana Chips:

”Packing is an important marketing tool. Numerous machine are provide packing functions”

The packing of our product is approved according to world standards.
There are basically three types of product * Main or primary packing: used to keep safe n fresh product * Secondary packing: the basic purpose of secondary packing is to advertise and to distinguish the product from competitor’s product. * Shipping packing: to transfer products in bulk quantity.

Features of Banana Chips:

* Banana chips can be used to top ice cream sundaes along with or instead of nuts and many people enjoy them with chocolate ice cream and chocolate syrup * You can also use them on top of chocolate frosting to decorate a chocolate banana cake. * A few banana chips tossed into trail mix can add a lot of flavor. * Remember to enjoy banana chips in moderation because of their high fat content. * Fresh bananas are much healthier and can be used in many dishes. * Pack of 12 6-ounce resalable bags of crunchy banana chips (72 total ounces) * Larger size, savory salt, and intense crunch; 6% RDA of Vitamin C per serving * Resalable zipper, stay fresh bag retains freshness and nutrition

Design of banana chips:
“Good design contributes to a products usefulness as well as its looks & a deep understanding of customer needs.”
-------------------------------------------------
“Banana chips are available in different design”

BRAND NAME OF BANANA CRISPS:

* Brand is an important part of a product. And branding can add value to a product. * It can help buyer to identify the product. * It also says something about the product quality and consistency.

-------------------------------------------------
“Brand name & trade mark provides legal protection for unique product features that otherwise might be copied by competitors.”

The brand name of our product banana crisps is “CELEBES” it is decided by our company named as “RAHSAN PVT CO.”

-------------------------------------------------
LABELLING OF BANANA CHIPS:

LABELLING PERFORMS DIFFERENT FUNCTIONS:

* Range from simple tags to product’s complex graphics * Label identifies the product or brand * Describe several thing about product * Who made it * When it was made * Where it was made * How it is to be used

FRONT SIDE OF BANANA CHIPS:

-------------------------------------------------
BACK SIDE OF BANANA CRISPS:

AUGMENTED BENEFIT OF BANANA CRISPS:

* Must build around the core benefit and actual product * Involve offering extra services instruction, training, health guidance, after sale services
PRODUCT AND SERVICE CLASSIFICATION:

The product named as BANANA CRISPS is purely “CONSUMER PRODUCT”. It is all about or providing an interesting and healthy taste to its customer.

TYPES OF CONSUMER PRODUCT

1- Convenience Product
2- Shopping Product
3- Specialty Product
4- Unsought Product

BANANA CRISPS IS A CONVENIENCE PRODUCT:
Our product of BANANA CRISPS will be of convenience product due to following reasons * it will be of low price * it’s distribution will be on wide area * it will be easily accessible

PRICE:
-------------------------------------------------
The amount of money charged for a product or service, or the sum of the values that consumers exchange for the benefit of having or using the product or service.

GENERAL PRICING APPROACHES:

* COST BASED PRICING * VALUE BASED PRICING
“Our product pricing strategy is Value based pricing”
Price setting is based on buyer’s perception of value. According to our analysis and inquiry, customers perceive our product’s price @Rs. 35 each serving of net weight 150gm.
NEW PRODUCT PRICING STRATEGY:

BANANA CRISPS is a new type of chips which is not introduced in Pakistan yet. So “MARKET SKIMING PRICING” is adopted MARKET POTENTIAL Demand and Supply
There is a very large market for banana chips and they can be sold at all such places where People assemble like theatres, picnic spots, bus stands or railway stations, traffic junctions Etc. Retailing has to be done through small grocery shops as well as big departmental stores And super markets.

PLACE: CHANNELS: A set of interdependent organizations involved of in the process of making a product or service available for use or consumption by consumer. For making our product available in the region we use a number of contacts with distributors. MOREOVER we use 2nd channel of distribution that is MANUFACTURER RETAILER CONSUMERS LOCATIONS: These are some locations where we introduced our product initially; KAIF BAKERS model town, main market

MEER BAKERS ,MODEL TOWN , MAIN MARKET

CHINA BAKERS SATELLITE TOWN

ALMERAJ BAKERS,PEOPLES COLONY , X-BLOCK,MAIN MARKET.

AMERICAN BAKERS,SATELLITE TOWN,A-BLOCK,MAIN MKT.

AL-MERAJ PEOPLES COLONY,X- BLOCK MAIN MKT.

TRANSPORTATION: We use CARRIER VANS driven by hired drivers specified for the purpose. COVERAGE: WE will cover in first round complete market of Gujranwala region and afterwards the whole Punjab will be our target MARKETING SYSTEM: The system which we will use is vertical marketing system. A system in which producers, whole sellers, and retailers in a unified system .one channel member owns others, has contract with them
PROMOTION:

Promotion means activities that communicate the merits of the product and persuade the buyer to buy it. Advertising: In order to allure children to buy banana crisps We advertise our product of banana crisps through ads on television. We make contracts with * PTV * ATV * GEO These ads will be on-air in timings between 7:30 to9:30 pm Sales promotion: Short term incentives to encourage the purchase the product. * We give discounts to the retailers and distributors of the product. * Organized a FUN MELA for 3 days to attract consumers. Personal selling: Personal presentation by the firm’s sales force for the purpose of making sales and making consumer relations. * E-mails * Telephones Are some the ways we adopted to boost the sales of newly introduced product. Public relations: Building good relations with the company’s various publics by obtaining favorable publicity, building up good corporate image and handling off unfavorable events and rumors We develop HRM department to fulfill this opportunity moreover our regular surveys to various shops and to visit customers will be some tactics to build this relation. Marketing Strategy: There is also institutional market consisting of clubs, canteens, and railway and airline caterers, co-operative consumer societies and so on. There will be a competition from other small manufacturers and it can be effectively overcome by offering good quality and attractive packing, providing lucrative margins to retailers and charging very economical price. Volumes would compensate for low profit margins.

PRODUCTION DEVELOPMENT:

To get our product to market more quickly , we adopt faster ,team oriented approach called simultaneous product development or team based market development
An approach to developing new products in which various company departments work closely together, over lapping the steps in the product development process to save time and effectiveness
MARKET TEST:
The stage of new product development in which the product and marketing programs are tested in more realistic marketing settings.

The market testing may be of three types * Standard test markets * Controlled test markets * Simulated test markets

in order to test banana crisps we give free samples to the students of commerce department in Punjab university.
The response was encouraging.
We use CONTROLLED TEST MARKETING APPROCH.
COMMERCIALIZATION:
The term commercialization means;
Introducing the new product in the market.

Introducing timing:
According to current industry situation and according to geographical analysis it is more profitable to introduce banana crisps in market at the start of March 2011, because there is no competitor for banana crisps in local market moreover this will be the peak season of banana
Location of introduction:
The place which we select to introduce the banana crisps is GUJRANWALA CITY
We have selected all the urban areas of Gujranwala and the nearer localities.
The product at the start will be introduced in universities, shopping plazas as PACE, in picnic points and cafés.

PRINCIPLES OF MARKETING
PROJECT: development of product
Submitted to: Mr. Hafiz Ihsan Ur Rehman
Submitted by:
Ayesha Ibraheem mc09025
Nazish Rasheed mc09009
Narmeen Naz mc09004
Hina Kanwal mc 09011
Nimrah Akash mc09005
Sadaf mc09018
Sundus Butt mc09045
Rabiya Ashraf mc09054…...

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