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MINISTRY OF EDUCATION & TRAINING FACULTY OF ECONOMICS AND MANAGEMNET HOA SEN UNIVERSITY @ ? FINAL REPORT PRODUCT MANAGEMENT Project Name A New Product – Case For Teeth Group 03 Class 1108 2131 Subject[.]
HOA SEN UNIVERSITY MINISTRY OF EDUCATION & TRAINING FACULTY OF ECONOMICS AND MANAGEMNET HOA SEN UNIVERSITY @ ? FINAL REPORT PRODUCT MANAGEMENT Project Name: A New Product – Case For Teeth Group: 03 Class: 1108_2131 Subjects: Product management Lecturer: Phan Minh Tuấn [Semester 2131, December 2021] Group 03 HOA SEN UNIVERSITY MINISTRY OF EDUCATION & TRAINING FACULTY OF ECONOMICS AND MANAGEMNET HOA SEN UNIVERSITY @ ? FINAL REPORT PRODUCT MANAGEMENT Project Name: A New Product – Case For Teeth Group of students: Full name Khưu Hoàng Thanh Giàu Nguyễn Hoàng Hiệp Huỳnh Thiên Kim Lê Kiều Duyên Đặng Yến Như [Semester 2131, December 2021] Student ID 2196137 2190086 2196607 2191273 2197317 Group 03 HOA SEN UNIVERSITY ACKNOWLDGEMENTS Our team would like to thank Mr Phan Minh Tuan for imparting useful knowledge to us during the time of studying Product Management In the process of making the report, it is difficult for our team to avoid mistakes, and we hope you will forgive them At the same time, because our knowledge is still wide and our level is still limited, the report cannot avoid errors, we look forward to receiving your comments so that our team can learn more knowledge as well as improve the report better i HOA SEN UNIVERSITY COMMITMENT We hereby commit that the report is completely taken seriously by the team members The report is an independent research work of our team under the guidance of lecturer Phan Minh Tuan The information, data and reference images in the article are clearly and fully cited Our team takes full responsibility for this commitment ii HOA SEN UNIVERSITY CATEGOGY Acknowldgements i Commitment ii Categogy iii List of pictures -vi List of tables -vii PART I NEW PRODUCT CREATION -1 I.1 Idea generation: I.2 Evaluating the ideas -5 I.2.1 Idea formation process: -5 I.3 Choosing and ranking factors: -6 I.4 Type of new product: -8 PART II PRODUCT INNOVATION CHAPTER (PIC) -8 II.1 Background II.2 Focus -8 II.3 Goal and objective II.3.1 Objective: II.3.2 Goal: 10 II.4 Guidelines 10 II.4.1 Innovation: Launched for the first time in the market -10 II.4.2 Time -11 II.4.3 Copyright protection 11 PART III NEW PRODUCT PROCESS 11 III.1 Phase 1: Opportunity Identification and Selection 11 III.1.1 Idea -11 III.1.2 “Orthodontics” trend -11 III.1.3 Eating out habits 12 III.1.4 Dental hygiene needs 13 III.2 Phase 2: Concept Generation -13 III.2.1 Concept information process -13 III.2.2 Market research 17 III.2.3 Perceptual map -18 iii HOA SEN UNIVERSITY III.2.4 Judgment 25 III.3 Phase 3: Concept Evaluation -25 III.3.1 A.T.A.R model -25 III.3.2 Total cost to produce a unit -27 III.3.2.1 Cost-plus pricing -27 III.3.2.2 Value-based pricing -28 III.3.3 NPV (Concept 1): Patronus I with two “Smart”. 28 III.3.4 NPV (Concept 3): Case for comfort in movement. -30 III.3.5 NPV (Concept 4):Case can be used many times and has compact packaging. 32 III.3.6 House of quality 33 III.4 Phase 4: Development -35 III.4.1 Benefit -35 III.4.2 Chunks and functions 35 III.4.3 The detail of Case For Teeth -36 III.4.4 Components -37 III.4.5 Packaging form -38 III.4.6 Logo of Case For Teeth -38 III.5 Phase 5: Launching 38 MARKETING PLAN -38 A Situation analysis 39 Industry background 39 Company background 39 SWOT analysis 39 B Marketing objectives 40 C Marketing strategy -40 General marketing strategy 40 1.1 Segmentation and targeting -40 1.2 Brand differentiation strategy 41 1.3 Brand positioning strategy 42 Specific target market strategies 42 2.1 The product strategy -42 2.2 The pricing strategy -43 iv HOA SEN UNIVERSITY 2.3 Distribution strategy -43 2.4 Communication strategies 43 D Action program (Tactics) -44 Communication plan (IMC plan) -44 1.1.Media Objectives -44 1.2.Tools 44 1.3.Media plan from December to May, 2022. -46 Timeline 53 2.1.Overview of media plan from December to May 2023 -53 2.2.Overview of campain 54 E KPI -54 F Marketing budget 54 Chapter Intellectual Property Registration -55 References -viii Lecturer's comments -ix Work assigment and evaluation x v HOA SEN UNIVERSITY List of pictures Picture 1: Kind of our product in the market Picture 2: Perceptual map [Convenience and Novelty] 23 Picture 3: Perceptual map [Convenience - Dental hygience] -23 Picture 4: Perceptual map [Convenience - Safety] -23 Picture 5: Perceptual map [Novelty - Dental hygience] -24 Picture 6: Perceptual map [Novelty - Safety] -24 Picture 7: Perceptual map [Dental hygience - Safety] -24 Picture 8: Pakaging of Patronus I -38 Picture 9: Logo of Patronus I 38 Picture 10: Overview of media plan 53 Picture 11: Timeline of campain 54 vi HOA SEN UNIVERSITY LIST OF TABLES Table 1: V-R-I-N model -5 Table 2: Ranking factors -7 Table 3: Concept generation -13 Table 4: Market research result 17 Table 5: Comparision between our product and others company with important factors 18 Table 6: Comparision of our concepts to main competitors -21 Table 7: Note for perceptual map -22 Table 8: Result of the survey 50 respondents -26 Table 9: Cost-plus pricing 27 Table 10: Data for NPV - Concept (milion VNĐ) -29 Table 11: Data for NPV - Concept (milion VNĐ) -31 Table 12: Data for NPV - Concept (milion VNĐ) -32 Table 13: Note for House of quality 33 Table 14: House of quality -34 Table 15: Chunks and funtions of Patronus I 35 Table 16: Details of Patronus I 36 Table 17: Components of Patronus I -37 Table 18: SWOT analysis of Patronus I 39 Table 19: Media tools -44 Table 20: Marketing activities for Pre-launching -46 Table 21: Marketing activities for Launching -47 Table 22: Detail marketing tools and main media activities for Stage 50 Table 23:Detail marketing tools and main media activities for Stage -51 Table 24: Detail marketing tools and main media activities for Stage 52 Table 25: Estimated marketing budget for months -54 HOA SEN UNIVERSITY PART I NEW PRODUCT CREATION I.1 Idea generation: v Idea 1: Product: Yonola – Nutrition Breakfast Idea formation: Breakfast is very important, but most people ignore it Because they don't have time to prepare breakfast On the other hand, they eat very quickly and not ensure enough nutrients to provide energy The solution to the above problem is a breakfast product that combines Yogurt and Granola Breakfast is quick, convenient, and saves time A healthy breakfast enhances memory and concentration Contribute to building healthy habits Description: This product combines yogurt and granola, in product Yogurt is naturally fermented from fresh milk Granola is a blend of many healthy foods, no sugar that provides plenty of protein and fiber Delicious taste, light bar, no preservatives This product help to save time for breakfast and provide enough nutrients Supports digestion, lowers blood sugar and cholesterol Target customer: Products are aimed at customers who are students, office workers, customers with special diets They don't have much time for breakfast but still want to have a meal full of nutrients and provide enough energy. Distribution: Supermarket and convenience store v Idea 2: Product: Wireless charger for laptop Idea formation: Today, the number of people using the laptop to work and study is very much Carrying a laptop with a charging cord and always needing a seat with a power outlet can charge the battery easily However, it is always necessary to have an electrical outlet near the workplace/study as well as the charging cord causing entanglement and inconvenience, charging cord is not long enough to plug in the charger in some cases So to make it easier to use ...HOA SEN UNIVERSITY MINISTRY OF EDUCATION & TRAINING FACULTY OF ECONOMICS AND MANAGEMNET HOA SEN UNIVERSITY @ ? FINAL REPORT PRODUCT MANAGEMENT Project Name: A New Product – Case For Teeth. .. Product: Case for teeth Idea formation: I started braces from teeth in 2019 I always have a hard time cleaning my teeth when I have to go out to eat My family and friends are facing similar... sneakers Case for teeth After analyzing VRIN model, the ideas are selected as "Wireless charger for laptop" and "Case for teeth. " I.3 Choosing and ranking factors: Meet Demand (25%): Regardless