Final reportproduct managementproject name a new product – case for teeth

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 HOA SEN UNIVERSITY [Semester 2131, December 2021] MINISTRY OF EDUCATION & TRAINING FACULTY OF ECONOMICS AND MANAGEMNET HOA SEN UNIVERSITY Group 03 Lecturer: Phan Minh Tuấn HOA SEN UNIVERSITY [Semester 2131, December 2021] MINISTRY OF EDUCATION & TRAINING Group 03 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 Student ID 2196137 2190086 2196607 2191273 2197317 HOA SEN UNIVERSITY [Semester 2131, December 2021] Group 03 ACKNOWLDGEMENTS Our team would like to thank Mr Phan Minh Tuan for imparting useful knowledge to us during the time of studying Product Management I th f ki th t it i diffi lt f t t id it k d Đặng Yến Như 2197317 HOA SEN UNIVERSITY [Semester 2131, December 2021] ACKNOWLDGEMENTS Group 03 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 HOA SEN UNIVERSITY i 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 HOA SEN UNIVERSITY i 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 HOA SEN UNIVERSITY ii CATEGOGY Acknowldgements i Commitment ii Categogy iii HOA SEN UNIVERSITY ii CATEGOGY Acknowldgements i Commitment ii Categogy iii List of pictures -vi List of tables -vii PART I NEW PRODUCT CREATION 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: PART II PRODUCT INNOVATION CHAPTER (PIC) 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 HOA SEN UNIVERSITY iii 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 Cost plus pricing 27 III.2.2 Market research 17 III.2.3 Perceptual map -18 HOA SEN UNIVERSITY iii 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 HOA SEN UNIVERSITY iv 2.3 Distribution strategy -43 2.4 Communication strategies 43 D Action program (Tactics) -44 Communication plan (IMC plan) -44 1 Media Objectives 44 2.1 The product strategy -42 2.2 The pricing strategy 43 HOA SEN UNIVERSITY iv 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 HOA SEN UNIVERSITY v 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 HOA SEN UNIVERSITY v 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 HOA SEN UNIVERSITY vi LIST OF TABLES Table 1: V-R-I-N model Table 2: Ranking factors -7 Table 3: Concept generation -13 HOA SEN UNIVERSITY vi LIST OF TABLES Table 1: V-R-I-N model 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: 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 your laptop anywhere without a power outlet and save space, a wireless charger will help you solve these problems  Discription: Wireless charger will help you not have to carry around a bunch of cumbersome wires like before The wireless charger can be placed in many p p Corporate advertising  Cooperation with dental clinics or hospitals HOA SEN UNIVERSITY 45 1.3 Media plan from December 2022 to May 2023 Phase 1: Pre-launching: Catch Attention ● Duration: early December to the end of December, 2022 ● Key message: “Convenience life goes hand in hand with dental health” (Vietnamese: Cuộc sống tiện ích đơi sức khỏe miệng) ● Main activities: Table 20: Marketing activities for Pre-launching Digital Marketing Owner Media Set up and complete the content on social media channels such as fanpage, website to post information about product descriptions, prices, uses, buying way, Facebook, youtube: ● Video about product introduction ● Video on how to use the product Poster frame Create videos promoting Case For Teeth products running on LCD screens in elevators (hospitals, shopping malls, dental clinic) Paid Media Google Ads/Search to increase traffic website Youtube Ads/Nonskipable in Stream to increase brand awareness Sales promotion Pre-order Allows customers to pre-order products and receive a 10% discount HOA SEN UNIVERSITY 46 PR Editorial Create convenient and novel oral hygiene habits, raise articles awareness about oral health protection behaviors Pre-order Allows customers to pre-order products and receive a 10% discount HOA SEN UNIVERSITY 46 PR Editorial Create convenient and novel oral hygiene habits, raise articles awareness about oral health protection behaviors Transmitted information through newspapers, and emagazines Earned  Get a certain number of orders from Pre-order activity  Capture customers' attention  Recognizing the value and benefits that Case For Teeth brings  Create expectations and excitement in customers who want to experience the product  Increase brand awareness  Increase traffic on website and social media platforms Phase 2: Launching: Inspising through Case For Teeth ● Duration: early of January 2023 to end of February 2023 ● Key message: “Take care of oral health, Improve the quality of life” (Vietnamese: Chăm sóc sức khỏe miệng, Nâng cao chất lượng sống) ● Main activities: Table 21: Marketing activities for Launching Interactive Media - Digital Media Owner Media Plan regular posts on Fanpage, blog, vlog, Post various content: posts, images, videos, minigames, Facebook, Website: - Posts about calls to action or inspires about the protection of oral health HOA SEN UNIVERSITY 47 - Product review posts - Short clip, customer’s feedback image - Minigames or giveaway Posts about calls to action or inspires about the protection of oral health HOA SEN UNIVERSITY 47 - Product review posts - Short clip, customer’s feedback image - Minigames or giveaway Youtube: upload videos with in-depth content, longer duration - Comparison video between Case For Teeth and other products - Video tutorial for effective oral care Paid Media Youtube ads, Google ads to increase conversions PR Influencer Contact to promote products on “Cuoi” youtube channel The minimum time for the product to appear on the video is minutes Video content is consistent with the product's message: convenient, modern, oral health protection The video needs to introduce the product, clearly its uses and benefits Sales promotion POSM Brochure: put it at the reception desks in pharmacies or dental clinics Poster: put it on elevator doors, commercial centers, hospitals, dental clinics Sales promotion Website or medical facilities: officially open for sale with HOA SEN UNIVERSITY 48 special offers for the first 50 customers Earned  Building trust and bring value to customers => get interaction from them Website or medical facilities: officially open for sale with Sales promotion HOA SEN UNIVERSITY 48 special offers for the first 50 customers  Building trust and bring value to customers => get Earned interaction from them  Increase brand awareness  Expand the target customer Phase 3: Campaign: “Patronus for convenient and modern lifestyle” (Vietnamese: Patronus cho lối sống tiện ích đại) Duration: early of March to end of May 2023 Y Stage 1: [Raise awareness]: Improve oral health, Improve quality of life ● Main idea: Help customers realize the importance of proper oral care Using the right and safe products will have a big impact on oral care Take care of your oral health and help improve your quality of life ● Main activities: Organize a seminar/Talk Show to share the status and problems of Vietnamese oral health along with introducing and getting product orders Detail: Speakers: ● Master - Doctor Nguyễn Văn Đẩu: Head of Oral Maxillofacial and Plastic Surgery Nhi Dong 1’s Hospital ● Master - Doctor Lê Tấn Hùng: Head of plastic surgery Ho Chi Minh City Dental Hospital Organization form: due to the impact of Covid-19, the talk show will be held online through the Google Meet platform and will be live streaming through the following media channels: Facebook and Youtube Contents of the talk show: ● Share the current realities of people's oral health status and the status of dental treatment cases reported in 2020 HOA SEN UNIVERSITY 49 ● Share the harmful effects of common dental hygiene tools ● Share ways to take care of your teeth and maintain proper hygiene ● At the end of the talkshow, Case For Teeth products will be mentioned: information, usage, benefits, and making offers when ordering products ● Share the current realities of people's oral health status and the status of dental treatment cases reported in 2020 HOA SEN UNIVERSITY 49 ● Share the harmful effects of common dental hygiene tools ● Share ways to take care of your teeth and maintain proper hygiene ● At the end of the talkshow, Case For Teeth products will be mentioned: information, usage, benefits, and making offers when ordering products in the talk show The main sponsor of the Talk Show: our company Table 22: Detail marketing tools and main media activities for Stage Digital Media Owner media Website, Facebook, Youtube: ● Live broadcast of Talk Show on fanpage and youtube channel ● Record and re-upload conference video with main content, necessary and relevant segments Then update to the media channels Sales promotion Sales Popularizing the offer purchase program - 5% discount for customers who order right in the talkshow Advice and guidance on how to order products PR Activities Editorial articles Push articles on popular and reputable newspapers about seminars and products ( Sức khỏe & Đời sống) Earned  Customers have an awareness of oral health and products  Increasing demand for Case For Teeth HOA SEN UNIVERSITY 50  Promote the product widely and sell a certain amount of products Y Stage 2: [Change behavior]: Generation looking for convenience (Vietnamese: Thế ế products  Increasing demand for Case For Teeth HOA SEN UNIVERSITY 50  Promote the product widely and sell a certain amount of products Y Stage 2: [Change behavior]: Generation looking for convenience (Vietnamese: Thế hệ tìm kiếm tiện ích) ● Main idea: o Giving customers a new look at oral hygiene products, not only toothpicks, brushes, but also Case for teeth o Help customers realize the value of convenience, safety, and uniqueness that products bring to create demand for products Change habits in daily life  Main activities: Focus on interactive media activitie Table 23:Detail marketing tools and main media activities for Stage Digital Media Owner Media Website, Facebook, Youtube: ● Post contents about the utility of the product ● Upload videos about product utilities on platforms ● Create activities for customers to interact with us Paid Media Google Ads, Youtube Ads PR Activities Editorial articles Book articles conveying the above message through the emagazine Sức Khoẻ & Đời Sống Earned  Customers feel the utility of the product Change daily habits, regularly use the product Y Stage 3: Call to action HOA SEN UNIVERSITY 51  Main idea: Promote products - stimulate demand, push sales conversions  Main activities: Donate to Operation Smile Fund with the commitment that each product sold will be deducted 2% of each product sold The activity starts from the time of debut in December 2022 to the end of the campaign (3/2023) g y p Y Stage 3: Call to action HOA SEN UNIVERSITY 51  Main idea: Promote products - stimulate demand, push sales conversions  Main activities: Donate to Operation Smile Fund with the commitment that each product sold will be deducted 2% of each product sold The activity starts from the time of debut in December 2022 to the end of the campaign (3/2023) The number of donations will be statistically and continuously updated on our website Table 24: Detail marketing tools and main media activities for Stage Digital Media Owner Media Website, Facebook, Youtube: ● Posting about fund-building activities on social media platforms ● Share videos and content of activities Paid media Pay for advertising fees PR Activities Editorial articles Book articles conveying the meaning of the campaign through the e-magazine Suc Khoe & Doi Song Earned ● Promote sales ● Build a support fund ● Add value to the brand HOA SEN UNIVERSITY 52 Timeline 2.1 Overview of media plan from December to May 2023 HOA SEN UNIVERSITY 52 Timeline 2.1 Overview of media plan from December to May 2023 Picture 10: Overview of media plan 2.2 Overview of campain Picture 11: Timeline of campain E KPI  Attracted about 30,000 followers on Facebook in months HOA SEN UNIVERSITY 53  Reach 5,000 subscribers to youtube channel  Reach 50,000 visits to the website  Reaching a total of 500,000 views for youtube videos and facebook watch  Reached 10 million to contribute to “Operation Smile” smile surgery fund E KPI  Attracted about 30,000 followers on Facebook in months HOA SEN UNIVERSITY 53  Reach 5,000 subscribers to youtube channel  Reach 50,000 visits to the website  Reaching a total of 500,000 views for youtube videos and facebook watch  Reached 10 million to contribute to “Operation Smile” smile surgery fund F MARKETING BUDGET (for the first six months of launching the product) Table 25: Estimated marketing budget for months Sections Video media Cost Note 35.000.000  Video introduction and user manual product  Video comparing the difference between Case for Teeth and other teeth cleaning products  Video on how to properly care for oral health Advertising 25.000.000 Total cost Digital 40.000.000 Google ads; youtube ads, SEO Booking 50.000.000 E-magazine: Sức khoẻ & Đời sống arcticles Newspaper: Thanh Niên Influencer 30.000.000 Youtuber PR 50.000.000 Talkshow Total ~230.000.000 (VNĐ) CHAPTER INTELLECTUAL PROPERTY REGISTRATION Intellectual property (or intellectual property) is a concept that refers to the creation of thinking in a broad sense: inventions, literary and artistic works, symbols, names, images and settings succession is used in commerce Intellectual property involves HOA SEN UNIVERSITY 54 forms of information and knowledge, which can be expressed in tangible objects while being duplicated into countless copies anywhere on the world Slight Intellectual property kind: According to Luat-So-huu-tri-tue-2005-50-2005QH11-7022 thinking in a broad sense: inventions, literary and artistic works, symbols, names, images and settings succession is used in commerce Intellectual property involves HOA SEN UNIVERSITY 54 forms of information and knowledge, which can be expressed in tangible objects while being duplicated into countless copies anywhere on the world Slight Intellectual property kind: According to Luat-So-huu-tri-tue-2005-50-2005QH11-7022 Patents are protected under the following conditions:  New: product is the first new in the market  Creative: Solve problems with the different way  Practicality in life: Product can help people solve normal problem in life HOA SEN UNIVERSITY 55 REFERENCES Nhiên Thị Nguyễn (2019) “Việt Nam có 90% người có bệnh miệng”, Ministry of health portain (MOH), < https://bom.so/AhFhAy>, access 23/11/2021 L Vâ (2020) “Sứ kh ẻ ă iệ ủ dâ TP HCM ế tố liê HOA SEN UNIVERSITY 55 REFERENCES Nhiên Thị Nguyễn (2019) “Việt Nam có 90% người có bệnh miệng”, Ministry of health portain (MOH), < https://bom.so/AhFhAy>, access 23/11/2021 Lam Vân (2020) “Sức khoẻ miệng cư dân TP.HCM yếu tố liên quan”, CESTI, < https://bom.so/4OACVn>, access 23/11/2021 Top10hcm (2021) “Dân số TPHCM năm 2021 bao nhiêu?”, Top10hcm, < https://bom.so/7KGnfzqP1bcpiX>, access 23/11/2021 (2021) “So Sánh Lãi Suất Vay Ngân Hàng Cập Nhật Mới Nhất 08/2021”, Timovn, < https://timo.vn/blogs/so-sanh-lai-suat-vay-ngan-hang-cap-nhat-moi-nhat/amp/>, access 30/11/2021 HOA SEN UNIVERSITY LECTURER'S COMMENTS _ _ _ HOA SEN UNIVERSITY LECTURER'S COMMENTS _ _ _ _ _ _ _ _ _ _ _ _ _ _ HOA SEN UNIVERSITY WORK ASSIGMENT AND EVALUATION Full Name Student ID Work Assigment Discribtion Evaluatio n …/100% HOA SEN UNIVERSITY WORK ASSIGMENT AND EVALUATION Full Name Student ID Work Assigment Discribtion Evaluatio n …/100% Khưu Hoàng Thanh Giàu 2196137  Part  Part  Synthesize  Edit Content; powerpoint & present 100% Synthesize and edit report Nguyễn Hoàng Hiệp 2190086  Part (phase 1; phase 2) Content; powerpoint & present 100% Huỳnh Thiên Kim 2196607  Part (phase 3; phase 4) Content; powerpoint & present 100% Lê Kiều Duyên 2191273  Part (phase 5: A+B+C) Content; powerpoint & present 100% Đặng Yến Như 2197317  Part (Phase 5: D+E+F) Content; powerpoint & present 100%  Chapter HOA SEN UNIVERSITY HOA SEN UNIVERSITY HOA SEN UNIVERSITY HOA SEN UNIVERSITY