LAUNCHING A NEW PRODUCT

TechStone
A New Age of Enlightenment

Presented by:
Divyanshi Gupta
Reshma Mohan
Arooshi Bharadwaj
Navjot Kaur
Pragya Jaiswal

Presented to:
 Dr.Anureet
Kaur

INTRODUCTION

This report proposes to discuss the current marketing and operations

strategies utilised by the Techstone - in order to deliver sustainable
customer value to consumers within Indian market.
This sustainable customer value is delivered in an attempt to ensure
the safety of market share, and increase the profitability and revenue
of the existing organisation. This report will also investigate
Techstone’s ability to introduce a new product into the current
portfolio of products already being offered to the market of India, and
how the current business practices, and marketing strategies will best
suit the introduction of this new product, whilst still supporting the
existing product range.

Objectives

The overall objectives of this report are to:

 Conduct an evaluation of the existing market strategies
being undertaken by Techstone.
 Investigate the impact and mechanisms for introducing a
new product into the existing product portfolio, in order to
appeal to both new and current consumers.
 Explain how the various marketing and operational
strategies formulated by the organisation can work
together to ensure a successful introduction, planning,
implementation, and monitoring of the new product.
 Establish the extent to which both the existing marketing
and operational activities, and those proposed by the
 launch of the new product, will provide sustainable
customer value in the long term.

1. Techstone –
Techstone Lighting and Electronics is the leading provider of
lighting solutions and applications both for professional and consumer
markets, transforming how lighting is used to enhance the human
experience in the places where people live and work. Whether at
home, on the road, in the city, shopping, at work or at school, we are
creating lighting solutions that transform environments, create
experiences, and help shape identities.
TAGLINE- In a new age of enlightenment
The role technology plays in the brand, Techstone is Improved
communication (especially the Internet), increased globalization, and
rapid changes in technology have put tremendous pressure on
companies to get their product to market first. We offer the potential
of improving the success of new products in the market place
reducing significant waste.
TechStone is one of India’s fastest growing electrical companies
that believe.
LOGO- We grabs attention, makes a strong first impression, is the
foundation of our brand identity, is memorable, separates you from
the competition, fosters brand loyalty, and is expected by your
audience.
2.Philosophy
Mission
Our mission is to be one of the top electrical companies in
India, recognized for innovation, manufacturing
excellence, quality & customer centricity

Vision
To continuously harness the power of emerging
technologies to create innovative solutions that uniquely
satisfy existing or latent needs of our customers

Aim
Our aim is to become a worldwide known product in
technology. Our product involves a night lamp speaker
which can play audio, control your smart home, answer
questions and engage your favorite services to keep you
organized, informed, safe, connected and entertained.
3.Swot Analysis
Our Strenghts
• Well established and highly regarded in the electronics
market.
• Consumes low watt electricity.Saving of electricity is
beneficial for the environment.
• These products are easily available at break and motor
phase.
• Limited competitors in the market.It leads to more sell in
the market
Our Weakness
• Building new relations with suppliers.When sell increase
gradually the connection with supplier will increase.
• The target group can choose cheaper models if they
want.
• Low debt equity rating. Lower risk.
• High transportation cost.When brand create its goodwill
the company will able to setup warehouse in near by
areas, than it will lead to lower down the transportation
cost.
• Competitors can offer similar products easily.
 Our Opprtunities
• Having Easy access to view and read reviews for the
product helps give it publicity.
• Continued expansion for online sales
Ability to develop additional sales.
Example-On cartoon of the product scan code available
through which customer can review the product.On this
basis company will able to make changes according to
the customer demand.
Our Threats
• Other companies with similar or better products.
• Change in regulation can impact the business.
• Insurance cost are continuously increasing.
• Barriers in launching the product outside the boundaries.
 4.Market Analysis
 Target Market
 Competition
Market Analysis
It is a qualitative and quantitative assessment of a market. It
looks into the size of the market both in volume and value, the
various customer sector and buying patterns, the competition,
and buying market.
The way to do market analysis-
 Demographic and segmentation-
Customer, age, gender, education, etc.
 Target market
 Market need
 Competition
 Barriers to entry
 Regulation

• Target Market
In this market where group of people with some shared
characteristics that a company has identified as a potential
customer for its products. Identifying the target market
tells the decision-making process as a brand design,
packages, and markets its product. We provide new age to
the solution and make their life easier than before. It has
Bluetooth connectivity and powerful
 speaker. In this company provide 5 years guarantee and
life time warranty.

• Competition
Market analysis int complete without thinking
About the competition. Beyond knowing what other
business, you are competing with a good
competitive analysis will point out competitors’
weakness that you can take advantage. With this
knowledge you can differentiate yourself by
offering products and service that fill gaps that
competitors have not addressed.
 5.Marketing Mix
Product-
 LED Speaker Bulb
This led Bluetooth speaker light Music bulb is a Wireless
enabled, dual colour, energy-efficient smart LED
bulb which can be controlled through your smartphone
whether android and apple.
The many choices of a light bulb and a speaker with
universally standard E27 base. Clear, loud and even the
immersive sound with 360-degree coverage.
 LED Projector
Projectors mostly run with the three-light source of -
laser, LED and standard lamps. LED projectors are
considered to be more energy-efficient and long-lasting.
The LED projector is a suitable choice for home
entertainment and gaming. It should offer brightness up
to 1800 lumens to make.
 LED Speaker Fan
The LED fan is a ceiling fan fitted with an LED light in
the motor casing of the fan. LED lights are bright and
consume very less energy, and fans with LED lights are
energy efficient. Moreover, they look very classy and
elegant. Types of LED Ceiling Fans.
 Bluetooth Headphone
An amplifier and loudspeaker with Bluetooth wireless
connectivity that is paired (pre-associated) with one or
more smartphones, tablets, iPods or computers. ... It then
decompresses, decodes and amplifies the audio through
the built-in speakers. See Bluetooth audio and Bluetooth
pairing.
 LED Woofers
An LED light system connected to your speakers adds
visual flair. ... During stereo music playback, the two
audio channels activate different LEDs to create the
sensation of movement. The supplied wires on the LED
set connect directly to the speakers.
 Place
 Superstores
Superstores are very large supermarkets or shops selling
household goods and equipment. Superstores are usually
built outside city centres away from other shops. A
company decided to sell the product for both online and
offline mode.

 Shops
Our company choose to sell the products for the retail
store to sell may very well be the most difficult decision
that will need to make when starting a retail business.
The choices are limitless and the task may be
overwhelming at first. Not only should there will be a
demand for your products, but it must be profitable and
something you enjoy selling.

 Direct selling
Direct selling is a retail channel used by our brands and
smaller, entrepreneurial companies to market products
and services to consumers. Direct selling consultants
work on their own, but affiliate with a company that uses
the channel, retaining the freedom to run a business on
their own terms.

 Developed area
 The company need to work on the supplier chain on a
long-term basis sell the product. As it is company
responsibility to build long term relation with supplier
for long term purpose.
Price
 Competitive pricing
Competitive pricing is the process of selecting strategic price
points to best take advantage of a product or service-
based market relative to the competition. Competitive pricing
is generally used once a price for a product or service has
reached a level of equilibrium.
• Premium Pricing
Premium pricing (also called image pricing or
prestige pricing) is the practice of keeping the
price of one of the products or services artificially
high in order to encourage favourable perceptions
among buyers, based solely on the price.

Promotion

• Advertising
Our brand choose to advertise through all the
social media platforms. E.g. Instagram,Google
ads,Facebook,etc
• Sales Promotion
The company selected the strategy to sell the
product through various platform
Examples include contests, coupons, freebies,
loss leaders, point of purchase displays,
 premiums, prizes, product samples, and
rebates. Sales promotions can be directed at
either the customer, sales staff, or distribution
channel members (such as retailers).
• Public relation
Advertorials. ...
Social media. ...
Newsletters. ...
Brochures and catalogues. ...
Business events. ...
Speaking engagements. ...
Sponsorships or partnerships.

• Personal selling
 Personal selling is also known as face-to-face selling
in which one person who is the salesman tries to convince
the customer in buying a product. It is a promotional
method by which the salesperson uses his or her skills and
abilities in an attempt to make a sale.
• Direct Marketing

•
6.Value Proposition
 INNOVATION
Our dedicated R&D and design teams push the envelope
and develop cutting-edge products tailor-made for Indian
consumers.
 QUALITY
Manufacturing excellence is core to our DNA
 CUSTOMER CENTRICITY
Focused towards meeting and exceeding our customer
expectations.
 CARE
Shows respect and empathy for all while upholding the
organisation goals
Conclusion
Launching a new product is always challenge for a
company. To be successful, a company need to adopt
good market strategy and able to make up the value of
product in eyes of the customers.Keep on make changes
in the product according to the demand of the customers
will able to sustain in the market.Backup plan is also
necessary for the company for term basis.