New Product Development

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DEPARTMENT OF BUSINESS MANAGEMENT SCIENCES A Project of New Product Development Submitted To: Mr. Farhan Aslam Submitted By: Ali Zubair Tosif ur Rehman Majid Ali Muhammad Tayyab ur Rehman Khan Mushahid Mehmood Hafiz Yasir Nasim Ali Rafiq Muhammad Qadeer (Group Moderator) UNIVERSITY OF AGRICULTURE, FAISALABAD
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Table of Contents Acknowledgement Group Introduction Project Summary CONCEPT GENERATION Need Form Technology CONCEPT STATEMENT CONCEPT EVALUATION Marketing Test Technical Test DEVELOPMENT Comprehensive Business Analysis Marketing Plan Executive Summary Summary of Situation Analysis The Industry Definition of Industry And Company Business History of Business Technological Advances Characteristics of Industry Typical Promotional Activity Geographical Characteristics Profit Pattern The Company Brief History Scope of Business
Growth, Current Size, Profitability Current size Growth Profitability Reputation Competence In Various Areas Strengths Weaknesses Product / Services www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ The product story Quality factors Design consideration Goods Classification Consumer and Industrial goods Durable or nondurable goods/services Convenience, shopping or Specialty goods Packaging Price Structure Uses Image and reputation Service strength Service Weakness Product sales features Market share Market potential and Trends The Market Definition and location of market
Identified market segments Past Potential Market need and desire Needs Desire Characteristics of market Geographic Demographics Psychographic Behavioral Typical Buying Patterns Purchase Patterns Frequency of Purchase Definition of our Customers Past, Present and Future Past Future Characteristics Characteristics shared with rest of market www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Characteristics unique to our customers What they like about us Consumer Appeals Possible Future appeals The competition Identification of Competitors Primary competitors Secondary competitors Growth / size of competitors Strength of competitors Share of Market Weaknesses of competitors Marketing Activities of Competitors Distribution Strategies Distribution Opportunity Pricing policies Opportunity/threats relating to pricing Pricing Threats Communication strategies Sales force Ability and Training Advertisement Program Opportunities of Communication Threats of Communication Environmental Factors Economy Economic Forecast Political Situations Societal Concerns Technological Influences Corporate Objectives and Strategies Profitability/ ROI Partnership equity Overall Corporate Mission Potential marketing Opportunities Marketing Need Objective Corporate Needs Satisfying objectives General Marketing Strategy Positioning Strategy Service Differentiation Strategy Launch www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
ACKNOWLEDGEMENTS
This project would not have been possible without the countless blessing of Almighty Allah who gives us the knowledge, power and intelligence to make this project. We are also grateful to our Beloved Prophet Hazrat Muhammad (S.A.W.S). We are heartily thankful to our course coordinator, Mr. Farhan Aslam, whose encouragement, guidance and support from the initial to the final level enabled us to develop an understanding of the subject. It is an honor for us to show our gratitude towards our Parents whose prayers were all time with us. Lastly, we offer our regards and blessings to all of those who supported us in any respect during the completion of the project.
Introduction to NPD Team Members Muhammad Qadeer (Group Moderator) Roll No 17 Reg. No. 2008-ag-190 Tosif ur Rehman Roll No 18 Reg. No. 2008-ag-189 Ali Zubair Roll No 22 Reg. No. 2008-ag-110 Muhammad Tayyab ur Rehman Khan Roll No 23 Reg. No. 2008-ag-109 Majid Ali Roll No. 31 Reg. No.2008-ag-271 Mushahid Mehmood Roll No. 26 Reg. No. 2007-ag-96 Hafiz Yasir Nasim www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Roll No. 33 Reg. No. 2008-ag-932 Ali Rafiq Roll No. Reg. No. 2008-ag-
PROJECT IN A GLANCE In this NPDs project we are going to start a new business of a Retail Book Shop. In making this project we first generate idea by analyzing the gap in the market. Then we evaluate the project in the light of PIC. After that we generate concept by observing the customers and produce concept statement in due consideration of need, form and technology. After that we evaluate the project on the basis of user needs and technology. Than we move towards the next phase that is Development. In this we made a comprehensive business analysis by making projected financial statements that are Projected Income Summary and Projected Balance Sheet that is showing a ROI of 8.86%. And after the preparation of marketing plan we launch the business. Company Name : Be 4 Books Mission Statement : Our Mission Is To Provide Every Book At One Place and With Immense Care Slogan : Road to Bright Future Animated Character : Mr. Book
Idea Generation and Opportunity Identification Idea means that anything comes to mind. Idea is a vague form of anything. There are so many idea generation techniques e.g. Brain storming, reverse brain storming etc. The technique that we use for the idea generation is the Reverse Brain Storming. Ideas may be of any thing about product, service etc. We also generate many ideas like providing the traffic control cameras. These cameras will automatically judge the intensity of traffic and give the green signal to traffic and as well as to the road crossing people. But this idea needs a great technology and also the problem of highly automated system. Another idea was that provide police force with a complete system of registered automobiles. This will help them to identify the automobiles immediately after analyzing any ambitious vehicles. Than one day of the group member give the idea to provide books in a big retail outlet that will have all the books, stationery, traditional and e-library and a caf. This idea looks very interesting and worth harvest while because there is no existence of such kind of retail outlets. After considering this idea, we will find the gap in the market.
GAP ANALYSIS Books are the best friends, it is a good saying but these are also the solution of our most of problems today. Education is the most critical factor for the development of any nation. Education is the biggest problem for a developing country like Pakistan. Keeping in view the above importance of the education, we think to provide the better educational material will be helpful in making a literate nation. There are so many institutions that are providing educational services to provide these services those people need educational material. There are so many retail outlets in our territory that are providing the education material. But if you look analytically all these retail out outlets are focusing to a particular class of customers. E.g schools, colleges, universities etc. Here we find that some outlets are giving or providing only books and some ate providing only stationary. There are different techniques that can be used to find out the gaps in the market and position our self to on that gap; one of the techniques is perceptual gap maps. We also use this technique to find out the gap in the market. For this purpose Determinant Gap Map is used we used two determinant attributes that are Books Range and Stationary Range.
Determinant Gap Map
High Range Stationary Al-Fateh Stationers
Gap 4
Gap 5 Be 4 Books
Gap 3
Play Group Books
Gap 1
Friends Books Gap 2 Fine Books Kitab Markaz Low Range Stationary
Master Level and Ph.D
Madina Books
If we look at the gap map it provides the information that some retail outlets are either providing books e.g. (Kitab Markaz) or providing stationary e.g. (Alfateh stationers) some are providing the combination of books and stationary e.g. (Istaqlal Books). But the problem is that there is not a single retail book shop that provides both books and stationary in full range. This gap in the map gives us an idea to position our self on the full range of books and stationary. We have identified an opportunity by considering an external environment. Now we will evaluate this opportunity with the help of PIC Product Innovation Charter (PIC):-
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ We provide professional services & resources to people who are ambitious, creative and study lovers. We are aiming to be a market leader with at least 35 to 40%. Our ROI Target is to earn at least a 10% return on investment. We will achieve all this by being efficient in customer services, and the base of electronic library will be used for future developments. Every new product will be entered into market as soon as possible. Special attention will be given to customer and personnel protection and all other protective measures will be taken into account while introducing new services and procedure.
CONCEPT GENERATION This is just an idea that we will deliver the full range of books and stationary. After evaluating this opportunity with the help of PIC and this opportunity is worthwhile to harvest. So for we have an idea but this is not a concept. To convert this idea into concept we need three things that are Need, Form, and Technology. Need There are so many techniques that are used to identify the need, benefit or the problem of customers. These problem gathering techniques are marketing and Technical staff pool experience search of services records, sales records, idea files, Scenario analysis and stakeholders contacts. The problem gathering technique that we use is Stakeholders or Customers Direct Observation. If we analyze people while purchasing we find certain points that can be considered. Today is the mechanical age and time is money. Everyone is in hurry, he wants the solution of his problems immediately and under the same roof. The immediate solution of the problems can be made but solution of all the need and problems under the same roof is quite difficult but not impossible. Lets see how a busy person make purchases of the books and stationary for his a play group child and for a master level child. This purchasing process for the person is quite cumbersome. Students are also facing problems in getting the complete courses at the time when they need it at one place. Some times they have to travel hundred of miles to get these books. Some time people even have to pay more for those books that are not easily available in the market. Retail outlets make misuse of peoples problem. Form www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
The next thing that is required to complete the concept is form. As we are not dealing in any kind of self-made product and hence we cant define in terms of product specifications .We are in merchandising business and we will deliver books and stationary in book mall store. We will deliver the books in the form of different sections that are Play group to 5th grade 6th grade to 8th grade Matriculation to Intermediate Graduation to Master level PhD Cooking Books Magazines Children Section Story Books Coloring Books Miscellaneous Other than providing the books, well provide the facility of library both traditional library and e-library and a caf. Technology What technology is required that will help us in providing these services. For this purpose we will use computers, bar-code readers, printer, fax and photo state machines, security cameras and network connectivity. We will also use different types of computer aided systems e.g. Inventory control system, just in time system. CONCEPT STATEMENT After defining the three components of the concept that are need, form and technology, now we can develop concept statement. The new book store will provide the books and stationary for all level of education and people can enjoy caf as well. They can get the educational material by purchasing book, by reading books in the library and they can also enjoy the facility of elibrary. They can get all these services conveniently and at competitive prices. CONCEPT EVALUATION Now we will evaluate the concept means that is this project is going to fulfill our objectives. We can evaluate the concept on basis of technical and marketing or both. Marketing Test www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
We will evaluate the concept according to market. Here we analyze the depth and potential of the market. On analyzing the market it clears that the market has good potential. Customer have positive attitude towards the books. This type of retail outlet is the need of the market because there is no existence of such type of outlet. So we can conclude that according to marketing perspective this project has good potential. Technical Test We will analyze the project on technical basis. The technology that is required for the retail outlet is easily available, accessible and we also have finance to get the technology. Our required technology includes computers, bar-code readers, printer, fax and photo state machines, security cameras and network connectivity. DEVELOPMENT In this phase we have develop marketing plan and make a comprehensive business analysis by making Projected Financial Statements e.g. Projected Income Summary and Projected Balance Sheet.
comprehensive Business Analysis Income Statement Projected Income Statement B 4 BOOKS www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ For the year ended Dec,31 20xx Sales Revenue Q P Rs. class(0-10) 22500 175 3937500 class(11-12) 13897 250 3474250 class(13-14) 6749 350 2362150 class(master) 2534 400 1013600 class(ms) 2462 475 1169450 PHD 785 550 431750 Cooking 352 250 88000 Coloring Books 354 125 44250 Magazines 250 250 62500 MBBS 3537 600 2122200 Tea and Coffee 252000 Printer&photcopy 150000 Members Fee 3000000 Library 2500000 Stationary 7000000 CGS class(0-10) class(11-12) class(13-14) class(master) class(ms) PHD Cooking Coloring Books Magazines MBBS Stationary 22500 13897 6749 2534 2462 785 352 354 250 3537 125 175 250 325 400 400 500 175 100 500 2812500 2431975 1687250 823550 984800 314000 176000 61950 25000 1768500 4500000
Rs
27607650
15585525
less:Expencess Salary 3000000 Utility bills: electricity 80000 Gas 60000 Telephone 2500 Internet 6000 Card 5000 NoN Members Card 7200 160700 Total Expenses Net Income Before Tax Projected Balance Sheet Be 4 Books For the period ended on 31st, Dec, 20XX Assets Price Quantity Amount Liabilities Amount 10000000 www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Current Assets Year Project's is One place for all Engineering Projects, Presentation, seminar, Capital 0 Final Cash in Hand 5000000 summer training report and lot more. Cash at Bank 5000000 NOTE:-This work is copyright to its Authors. This is only for Educational Purpose. Inventory: 375000
3160700 18746225 8861425
Marketing Plan Executive Summary Aiming with the project of new product development we make a gap analysis of the book and stationary market and chose an idea of making a retail book shop with full range of books from playgroup to master and PhD level also non educational books e.g. coloring and cooking books etc, full range of stationary and fully equipped traditional and elibrary with the facility of caf. We made an analysis of the industry to see trends, technologies, forecasting of demands and profit margin. We also analyzed strengths and weaknesses of our company and our competitors as well. We determined the prices of company according to markup bases special discounts are given to our member customers. Then we see the return on the investment by making a comprehensive analysis. We will provide these services in a retail outlet and in future, we will convert it into chain retail outlet, having a network in all the big cities of Pakistan. Competitors in the industry were identified and a comprehensive analysis was conducted to see their communication strategies, positioning strategies and share of market. Then on communication strategies were developed which include advertisements through electronic and print media. Marketing objectives will be to satisfy customers need of easy location of books and corporative objectives will include the security and better return on partners capital. Share of market is intended to achieve upto thirty to forty percent for first year. We will monitor all our strategies and control the processes in order to achieve the desired corporate objectives. Summary of Situation Analysis The Industry a. Definition of Industry And Company Business Book industry includes all the book retail stores that are providing books, stationary and books related services. Our company is newly formed and we are providing all type of books from playgroup to PhDs and providing services like library, e-books, internet search, printing, faxes and pleasant sitting environment. We are offering memberships. Members can obtain benefits like discount on books purchased and also can get the concession on the library and caf rates. Customer can get the membership at very reasonable rates. Our non members customer can have all the library facilities but at standard rates. That rate will be higher than the rate we offer to non members. www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ b. History of Business In the early time of independence there were very small numbers of the books store in the city. And these retail book shops were unable to provide the books which were the requirement of people. People often have to travel one place to another. As the trend of education start developing the requirements of these books increased and so the number of book store also increased. They began to carry more books to meet the requirements of the people. Technological Advances Education sector has revolutionized. More and more people start read and write and hence their needs for books and stationary also increased. This results in more number of the books shop. With the passage of time book stores owner began to advertise their stores at universities and schools by using the brochures. Then they start advertisement campaign on Radio, T.V, and now internet is at its full pace. Now the purchase of the books started online. Online book reading is also available providing books for reading. Some of them require membership. We have the e-book which are sold in CDs or can get via internet after paying certain amount of money.
C. Characteristics of Industry Typical Promotional Activity Pakistans book industry use following promotional instruments e.g. brochures, bill boards, radio and banners. Geographical Characteristics In Faisalabad there are some major books markets that are Amin Pur Bazar, D.Ground and Punjab Medical Colleges own book store. Although these markets have so many retailers but not a single retailer is capable of providing all types of books. Islamabad, National Book Foundation is the retail book store of Alama Iqbal University. It has its own printing press and has biggest retail store that has the potential to provide books for all types of discipline. www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Other cities also have such type of retail stores that are providing the services of book selling like Lahores Urdu Bazar. Profit Pattern There is no fixed profit pattern, it is random. for example; different retail outlets charge different prices for the same book. This difference in their prices is because of some certain reasons e.g. Size of shop, existence in the market etc.
The Company Brief History It is a newly formed business so we dont have any type of history. Scope of Business This business has a very broad scope. We are providing books, stationary, e-library and all what a student to fulfill his educational needs. This business is not only for students but any person who wants to learn. He is in the scope of our business. Growth, Current Size, Profitability a. Current size Currently we are offering books for all disciplines, library, e-library, membership and caf facility. Our member customers can get benefits like discount on purchases and library facilities. b. Growth We are going to expand our business by opening another retail book branch in D. Ground that will provide only books and stationary. In future we will expand our business by making it a book chain store in different cities like Islamabad, Multan, Lahore and Karachi. We are going to add e-books on DVD and cd. www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ We will expand our online library and provide our member the access to our online library form there own house. Member can use internet and we will provide login to access the library. We will obtain the book publishing rights in the future. We will also add book printing press and can target different organizations. We are going to provide the home delivery services only to the major customer like schools, colleges and universities within the Faisalabad. c. Profitability As we are providing books for all discipline at discount rates. This will result in increase sales which will increase our revenue and decrease our fixed expenses per unit. Hence we will result in more profitable business. Reputation We are newly formed business that does not have any kind of background so we dont have any reputation but we will increase our reputation by providing quality services. Competence In Various Areas Strengths We have strengths in Books of all types Wide rage of Stationary Quick service to deal with customers via use of computer databases. Use of barcode readers for selling E-library Membership Cafe Pleasant library environment for reading and research studies Fully equipped computer lab with latest core 2 due computers and high speed internet connectivity Fully automatic backup power generators to overcome electricity breakdowns Use of JIT (Just In Time) system Huge Investment Direct selling to schools, colleges, universities Use of advanced security system by cameras Free parking Weaknesses Our weaknesses are Low cost control in the beginning www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Low repute in the market as a new entrant. Need some time to establish relationships with suppliers Product / Services 1. The Product Story Quality Factors We are offering quality service in providing books, e-books, library, e-library, internet facilities and caf. Design Consideration Its a service related business and in service related business design is related to how to deliver the services and what will be the interior of the retail outlet. We will deliver services with the help of human and computer aided systems. Interior is designed in such a way that it gives a friendly environment that make people feel like home. Goods Classification Consumer and Industrial Goods These are both consumer and industrial goods in such sense that if books are purchased by an individual then it is a consumer good and when these books are sold to schools, colleges and universities then these are industrial goods. Durable or Nondurable Goods/Services Again this is combination of durable and nondurable goods and services. When we are providing caf and library facility then it is nondurable services. And when we are providing books and stationary these are durable goods. Convenience, Shopping or Specialty Goods we are providing convenience goods in such sense that these are those goods that are purchased with out any special consideration of books brand names etc. people get these product and services conveniently. Packaging As we are not providing any kind of a single product but books and these books dont have packaging and we are providing shopping bags for carrying books www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Price Structure There are so many pricing methods that are used to set prices e.g market skimming pricing and marketing penetration pricing. We are using marketing penetration strategy because we have a large market for product, economies of scale can be achieved and there is fierce competition in the market. Following are the markup rate that we will charge on the cost of books and stationary. Play group to Intermediate A and O level Books Graduation and Masters Ms and PhD Cooking Books Children Books Magazines Stationary 15% 20% 25% 30% 25% 25% 30% 8%
These rates are subject to change according to managements will. Uses Books are not the necessity of life so they dont have primary use. To be successful in life we need to study books hence books have secondary use.
Image and reputation Books have positive image and reputation in the society because they provide the solution of all the problems of a nation. Service strength We have the following product and service strengths Books for all disciplines Magazines Children Books Cooking Books All types of dictionaries Stationary Highly motivated employees Huge book carrying capacity Traditional and e-library We are offering memberships Fully air conditioned library and Computer lab. Computer lab equipped with latest computers and high speed internet www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ No misuse of computer lab due to strong firewall Weakness Library may prove to be expensive, it may not attract many individuals to cover our costs and earn a good margin over costs.
Product sales features Market share Industry sale by market Book retailing industry in Faisalabad has about 95% share of the Faisalabad market. That is book retail stores in Faisalabad meets 95% of the demand of books of people. Some books are not available in the city and people often have to move to other cities to get those books. Market potential and Trends There is huge potential in the current targeted market that is Faisalabad. There are many schools, colleges and universities. Every year thousands of individuals going to these institutions to obtain knowledge. Masters and PhD require research work and our library is the place to do that. The Market 1. Definition and location of market a). Identified Market Segments Currently the market segment is Faisalabad. We will move into other cities gradually. 1). Past in the past book retailer only considered students to be there market. 2). Potential the potential market is not only students but also teachers, professors ,schools ,colleges and universities. Market need and desire Needs Market needs are www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Books for all disciplines Stationary Research facilities Library facilities Desire Desires are Books availability with ease Quick service Books should be cheap Pleasant library environment Characteristics of market Geographic Punjab is Pakistans biggest province with respect to population. Faisalabad is the third biggest city of Pakistan. It has the strong textile sector and sugar industry. Demographics Faisalabad is the second biggest city of Punjab populace with approximately 50 lakh individuals and it has 50% literacy rate. Income Level :Rs 60000-2500000 annual income Gender : male, female Age : 2-60 years Religion : All Occupation : All Social Class : lower lowers, lower upper, Medium class, lower upper, upper upper Family size : 2-4, 4+ Education : All level of education Psychographic Life Style Personality : Both Modern and Traditional : Sober, creative, ambitious
Behavioral User Loyalty : Low brand loyalty Usage Rate : Low and Moderate Occasion : Regular and Special Benefits : Quality, Service, Speed and Economy User Status : Ex-User, Non User, Potential User, Regular User Attitude : Indifferent, Positive, Enthusiastic Typical Buying Patterns Purchase Patterns People purchase books throughout the year as: www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ New Admissions Reading Habits To Acquire New Skills To Learn Something To Appear in Intelligence Tests( NTS,GRE,GMAT,ECAT etc) To Appear in competition exams (CSS, ISI, PMS, PSC etc) To give as Gifts Frequency of Purchase Books related to discipline by the students are Purchased two times is semester system and one time in annual system. Other books like cooking, coloring books etc and magazines are purchased many times. Definition of our Customers Past, Present and Future Past As our business is a newly formed, so we dont have past customers. Present Play to Group, Intermediate, Graduate Level, Master Level and research related studies students are our customers. All those people who love to read and want to get new information. Also include those people who purchase books for making gifts. House wives who want to learn new recipes and fashion and fades. And also all those people who love to read magazines. Parents, who are curious about the intellectual abilities of their children. People who want to start new business as well as having running business can use our library. Future All the present customers, businessmen, governments and all the authors and writers can be our future customers. a. Characteristics b.1. Characteristics Shared with rest of Market Book selling stationary b.2. Characteristics Unique to Our Customers Library (traditional and e-library) Membership Free parking Pleasant sitting environment internet facility Photocopier, Fax and printing facitlity C. What They Like About Us They like our services as we are providing all discipline related books, fashion books, cooking books, coloring books etc under the same roof. The library facility that www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ we are providing equipped with advanced technology. They like the parking and caf facility. 3. Consumer Appeals Possible future appeals Our possible future appeals are as following Brochures Banners Bill Boards Local TV FM Radio The Competition Primary Competitors: Our primary competitors are the books sellers already operating in market the major competitors are located in Aminpur Bazar Faisalabad just like Kitab Markaz, Friends Book center, Istaqlal book center, Majeed book center, Fine book center.
Secondary Competitors Secondary competitors include all other consumer goods industries. That is garment industry, film industry, food industry etc. Growth / Size of Competitors Competitors are going as usual no extra ordinary growth is there. Share of Market A large no of market share that is 60% is captured by large competitors. Strength of Competitors They have a set up for a long time period. They are located at the center of the city, they have loyal customers. Weaknesses of Competitors They have a little stock to meet the market demand. www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ They have no customer relationship management. No proper customer care. They are not charging market prices; they charge their own decided prices. There is no promotional activity as well. Marketing Activities of Competitors Competitors are charging prices at a level where the other sellers are charging. They are distributing their products through their own outlets only They are advertising only through brochures and banners. Distribution Strategies Distribution We will operate via only company on outlets even in case of expansion; company will use its own distribution channel. Strength of Distribution Channels Timely availability of books in our outlets. It will increase our brand building. As the entire margin we have to earn, so we can save our cost through our own distribution channel. Opportunity A opportunity in the type of distribution is that it can create awareness a associations with the customers, the can use their past experience as a cue for others. Threat If some competitors come to play and can make open a book like us because this business has large potential in market. Pricing Policies:While setting the prices trends of the industry, affordability of the customer and the competition will be taken under consideration. Opportunity/Threats Relating to Pricing As we are charging prices equal to or at some discount, so we have a potential to gain a handsome market share because we are providing unique facilities in terms of convenience, better purchasing environment and better study environment in which you will as at home.
Pricing Threats www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ As being in competitive environment so continuous development are necessary because we have a unique environment, not any technological edge so it is very easy to imitate, so new can competitor can come in a very few period and they try to compete with us in terms of price. Communication Strategies Sales Force Our sales force will comprise of fifteen sales persons. Ability and Training Our sales force will be trained for a week before launch and then performance evaluation parameters will be implemented. Advertisement Program Advertising will be through local electronic media (cable network) local news papers, banners, billboards. Appeals positioning Our communication program in terms of advertise will be based on the theme that their will be convenience, ideal environment for all. Advertisement expenditures will be allocated on yearly basis. Opportunities of Communication A better communication program can provide for better expansion of our business with in the city of Faisalabad along with all the Pakistan. Threats of Communication Communication will make other competitors i.e. all other book sellers aware, so they can cut their prices down. However exaggerations in communication can create disloyalty if they experience less in reality. Environmental Factors Economy Although the economy of Pakistan is at stake but being a book seller and study environment provider we are less threatened by this situation because we are providing books which are necessary for all. Economic Forecast Pakistans economy is suffering at a high level so there are enough chances of growth as Pakistans economy is growing however at a slower rate. As the www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ nature of our business shows, there will be high expectations of more membership at this location and more outlets in other big cities.
Political Situations We have a threat from the political situation a bit, In terms of import of foreign books however our other products i.e. books from level playgroup to graduation and facility of library cant be affected by political situation. Societal Concerns Our business will have high societal association because we are not going to provide some harmful but we are making you aware, knowledgeable so people will take us as their friends and this societal association can also affect political threats. Technological Influences Technology plays vital role in the growth of any business. We bring technology to serve our customers in our outlet. Corporate Objectives and Strategies Profitability/ ROI Sales revenue and cost reductions will be made up to extent where minimum ROI is 10%. Partnership Equity Corporate strategy will be to optimally utilize the equity of partners. Overall Corporate Mission Corporate mission will include expansion in outlets increase no of membership, new technological advancement in new services. Potential Marketing Opportunities In current situation our competitors are not using full marketing tactics they emphasis on products not customer care or customer relationship. They dont have any network with universities and colleges. And they are not using mkt promotional activities enhance their customers. These are our potential marketing opportunities for us. Marketing Need Objective. www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Final Year Project's is One place for all Engineering Projects, Presentation, seminar, summer training report and lot more. NOTE:-This work is copyright to its Authors. This is only for Educational Purpose.
www.final-yearprojects.co.cc | www.troubleshoot4free.com/fyp/ Our services objectives are directed towards market and community need satisfying. Following are our market need satisfying objectives. Providing books in all range and stationary all books from playgroup to master level and stationary at one place. Provide education concern material, computer research lab, cool and calm environment for study. Corporate Needs Satisfying Objectives Following corporate objective will be tried to get 40% market share in first year. One more outlet in city Faisalabad. Getting return on investment 20% at least to secure and give proper profit to partners on their investment. General Marketing Strategy Methods by which the organizations plans to achieve the objectives describe above. Following marketing strategies we are intended to employ. Positioning Strategy Our target market positioning will be convenience in getting and availability of books all range. So all our marketing campaign will be directed towards represent our positioning. How every positioning strategy will back up by the continuous monitoring and adjustment in the positioning. Service Differentiation Strategy Our services differentiation strategy will comprise of the customer care, ideal study environment in which books computers and all essentials will be there. LAUNCH After the preparation of all the resources and marketing plan, we are ready to launch our new book retail shop. Opening ceremony will be held on 1st April 2010.

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High Range Stationary Al-Fateh Stationers

Play Group Books

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