Marketing Plan for New Product

Name
Course
Institution
Date
Introduction
• The increasingly rising population of the UAE has increased
the demand for bottled water products.
• However, due to rising incidences of lifestyle diseases, people
have become even more conscious with their health needs.
• The current water products do not meet the health needs of
the health conscious populations, particularly targeting the
tourist segments of the population.
• This presentation explores the market trends and other factors
affecting the bottled water industry in order to give insights
into the introduction of new bottled water product called Dani
water for Josephson Water.
Market gap
The study reported that the tourism sector was
projected to increase by 2025 by 6.7%.
Companies in the sector design products for general
population, leaving out medical sector. Also, they do
not include nutrients as part of ingredients.
This does not fulfill the needs of the medical tourist
sector tourists, and general population who are more
aware nutritional needs for healthy living.
This creates a good opportunity for Josephson’s Dani
Water.
Filling the gap
• Josephson’s Dani water
is a bottled water
product designed to
satisfy healthy needs of
different market
segments—sick,
families, and
individuals.
Cont’d
• Josephson’s Dani Water.
• The product is differentiated
and unique compared to
competitors’.
• Our products have additional
nutritional ingredients
compared to competitors’.
• The product packaged in
reusable glass containers of
variable sizes for
convenience from as low as
250ml, 500ml, and in 1 liter
capacity.
Cont’d
• The product
packaged in reusable
glass containers of
variable sizes for
convenience from as
low as 250ml, 500ml,
and in 1 liter
capacity.
• The product will also
be purer.
External Environment
PESTEL analysis technique is used for analyzing our external
environment.
Political: Political interference in India and the entire
MENA region is limited; this is why the business
regulations in the sector are favorable for bottled
water manufacturing.
Economic: The economy of India is generally good,
with increasing demand for bottled water products.
Also, the UAE in general leads globally as tourist
destination, hence sustaining the economy.
Cont’d
Social: Demography or the general population of India is Ideal
for our product, given that it comprise of majorly the tourists,
the medical tourists. The population also understands value of
diet, thus increased demand for our product.
Technological: The technological advancement in the sector
still lags behind; our company uses AI enabled technology
hence increasing production to meet the growing demand.
Cont’d
Environmental: Out of about 9 million people in India, about 7
million are immigrants, and most of them are working mid and
high class.
This suggests higher GDP, and higher purchasing power for
consumers.
Legal: The legal system favors food products in the UAE. For
instance, the government provides incentives for food
processing and manufacturing sector in form of tax exemption
& Incentives.
This is an advantage for our firm at economical cost.
Target segments
• The main target segments are consumers in medical tourism
sector, the sick populations, the healthy individuals, sports
personalities, and families.
• The demand for our product will be higher because of
differentiated products with additional nutrients, reusable
water bottle, and relatively low prices at high consumer value.
Cont’d
• In our analysis, the target population composed of 32% of the
healthy population, 43% of the sick individuals, general
consumers at 22%, and tourists at 3%.
• The sick population needs additional nutrients required to
improve medical conditions.
• Increasing cases of lifestyle diseases has made more healthy
population, including tourists and sportsmen and families to
prioritize their diet, and thus demand for our product in the
segment will be higher.
Strengths Weaknesses

 Unique products  The innovation is easy to duplicate

 Low cost of production  Market uncertainty

 High tech production machinery  Small share of market

Threats Opportunities

 Entrant firms with new products  Increasing demand

 Uncertainty of future competitiveness
 High population
 Introduction of similar products as time
 Increasing awareness for healthy diet
passes
 
Marketing Mix
• Products:
• In order for our company to retain its market share, we will
focus on fulfilling the consumer needs. For instance, we will
add nutritional ingredients, something never tied by our
competitors; this will give use competitive advantage.
• Price
• For the process of our products to remain competitive, we
have customized the sizes of bottled for different market
segments. In order for the products to fetch high prices, we
will allow our pricing to be market-follower.
Cont’d
Distribution
Our company prefers direct distribution to the target
segments. This will allow us get first had feedback from
consumers on how to improve our products to satisfy their
needs.
Promotion
• Considering that a majority of our target consumers belong
high and mid class, we will partner with air travel companies
and international sporting corporations. This will increase
exposure of our brand and increase demand.
Implementation of the plan
Marketing Organization
We first reorganize our organizational structure as
follows to align with new goals;
Production department to oversee the production
operations and processes
sales and marketing department for promotion
decisions and strategies.
 research and development to manage research
activities to ensure efficiency of technology used.
finance department to manage financial operations
 transport and logistics department to manage
distribution to consumers.
 Activities, Responsibilities, and Timetables
 Date Activity

 On 1st Jan  Create the temporary project management position to lead the restructuring of

the organization and planning of the whole process.

 By 5th Jan  Create the position of research and development to advice on best designs to

determine operations process needs.

 By 30th Jan  establish a full functional organizational structure

 By 5th Feb  assign marketing department to conduct random survey of target segments
 Cont’d
 By 10th Feb  analyze the survey data

 By 15th Feb  make necessary adjustments

 By 20th Feb  design the operations process

 By 25th Feb  develop plan for making the new product

 By 30th Feb  implement the plan and design new product

 By 10th March  March match the different product with market segments and
asses satisfaction
Cont’d
 15th march  Evaluate the assessment

results

 By 30th march  reestablish the

organization’s objectives as

per the assessment results

Performance Standards & controls for finance
Comparative financial expenditure will be used
The total budget for implementation alongside
objectives will be presented. The cost of consumer
survey will be 60% of the yearly budget of promotion
for next year.
Budget breakdown including 20% for spending on
billing cycles, 50% on developing and implementing
new product, 30% on customer surveying consumer
market.
Offers will be determined on quarterly basis to evaluate
the profitability.
The expenses on developing the new product will be
spread over a period of two years, quarterly and
comparison made against total gross income for that
period.
Monitoring Procedures
For evaluating the implementation of the plan, project
management tools and relevant concepts are used to determine
necessary requirements, budget, finance, and human resources
needed.
Consistent comparative reporting on the achieved outcomes against
the established objectives on monthly basis for initial year, and on
quarterly basis years following implementation.
The members of the organization will each be mandated to track
necessary changes to modify the product.
Conclusion
The aim was to create a marketing plan for Josephson’s new water
product named Dani.
Considering the high competition in the market, the company must
prioritize marketing and promotion of its new product.
Josephson enjoys monopoly in the sector but new entrants are
expected, which will reduce its market share.
Therefore, the management should engage in continuous promotion,
and research and development to ensure no other company reduces
its market share.
References
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market segmentation or market mix?. Emerald Emerging Markets
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Khadra, W. M. (2020). Authenticity of bottled water chemical
composition inferred from brand labels: example of the Lebanese
market. Journal of Food Composition and Analysis, 93, 103609.
Yosri, S. (2021). Market Analysis: A study of the Gulf Cooperation
Council Members as target for FinContainer product.