D: Review of Literature NPD Concept of New Product development Whenever a new product is brought out by a new company several

things are kept in mind. The product is created and sold by the company to the people or customers keeping in mind their needs i.e. what the customers desire is. The company sells the product with the main aim to get the companys name in the selling place for the product. The company also needs that the product which is sold is unique and another company on the other side will not get a chance to get the people who are buying from the company. The product is created by the company so that the name of the product and the company remains in the selling place and also to make sure that another company does not get a chance to take its position. This is taken care by developing a new product that has its own identity and feature that is not available in other products that is available in the market.

Importance of New Product Development The Product is given due importance while production so that people will support the company by buying the product which in turn will help in the development of the company and also to make sure that the product name remains in the memories of the people and they dont go for another choice of product in the selling place. Different means are taken by the company for reaching the product to the people. The main idea is to make the people happy and all their needs are met through the new product that has been launched in the market and also to sell same product to different people around the world. Stages of developing new product Development of a New Product is not a single step process. Different stages are followed in the process of New Product Development and these stages are essential for the success of the product The whole process is divided into eight stages. These eight steps are idea generation, idea screening, concept development and testing, market strategy and development, business analysis, product development, test marketing and lastly commercialization 1. Idea generation For the production and sale of a product a company will need some ideas, so the first step is collection of ideas. Ideas are collected from different sources and different people of the company. All the ideas are collected, including ideas related to products not useful for people are collected. Since consumers are the one who are going to use the product, Ideas are also collected from the consumers of the product also. This is a long process. These ideas that they get from different sources are collected and grouped together to make a product that is useful for the people.

2. Idea Screening Large number of ideas will be there after the first step. Since only few ideas are required the next step is screening of the ideas. The feasibility of the product from the collected ideas is confirmed by discussing the ideas with other people of the company itself. A survey about how many consumers will be there for the product is taken and based on that the good and the bad among the ideas are classified. Points are allotted for ideas based on the number of consumers. Based on these points idea is taken. An idea with large number of points is given more importance and other ideas are removed.

3. Concept development and testing In the third step the idea is checked from all aspects by the company i.e. if the idea is a good one, also that the idea is something that the company can hold. Company makes sure that the product can be made from the idea that has been selected, and also checks that the product is as desired by the consumers. After the third step the company will be sure that the product is a possible thing or not and then they can go to the fourth step. This step will almost bring to an end to the creation of the product. 4. Marketing Strategy and Development In the fourth step the company will analyze all the ways in which the product that has been created from the ideas by the company can reach out to the people. The company will check which class of consumers will go for the product and also if the product that has been made for the people will work out or not. This is an important step because this will provide the step for the fifth stage. This is the stage through which the availability of the product can be informed to the people. 5. Business Analysis In this step the Business aspect of the product is taken into consideration. The company assures that people will buy the product once it is brought out in the market. Also the company checks how the business of the company will be affected from the profit or loss of the product. They also check at what price tag must the product be sold keeping in mind the class of consumers who are attracted to the product the most. There are many such sub-steps in this stage. Also the good and bad sides of the product are given a look into by the company in this stage. This stage will confirm the need for the next step and also the company can go in different direction from this stage and decide if any change in the product plan has to be brought or not. 6. Product Development In this stage the development of the product is done. Several precautions are taken so as to reduce the bad aspects of the product and more of the good aspects are seen, so that a consumer will

always go for the companys product. Quality of the product is given prime importance and changes are brought about in the product. This is an important step in the whole process because if this step is not carried out then the whole process and effort put by the company till now will go in vain. 7. Test Marketing This is the seventh stage in the process. Prior to this stage few samples of the product is developed .These samples are then distributed among several consumers for usage for few days. After a few days feedback is taken about the product from these consumers who were given the product. These feedbacks are taken into consideration and modification is brought about in the product according to the feedback. Its not necessary that all the feedbacks are taken care; sometimes few feedbacks are taken into consideration for the manufacture of another product in the future. 8. Commercialization This is the final step in the whole process of development of a new product. In this stage several steps are taken for the commercial advertising of the product that has been developed. If company does not give prime importance to this stage people will not come to know about the product and all their efforts will go in vain. The company considers options through which the company can reach out to the people directly for the publicity of the product. This is the main stage through which people will come to know that the company is bringing out the product for the people. All the selling of the product depends on how well the company succeeds in this stage.

Conclusion These stages are the few things that a company should follow for a successful development of a product.

Methods of New Product Development There are four methods that a company can use for development of a new product .these methods are Innovation, Modification/Alteration, Addition of New Feature, Introducing existing product in new market. Innovation: This is the first method of development of the product. In this the product is made from scratch. It is made sure that such a product has not been brought out in the market by any other company and people are seeing such a product for first time. In this all the innovative skill of the company is used to the maximum. Modification/Alteration: This is the second way company can develop a new product. In this method a product that is developed by the company and not that famous in the market is taken

and the reasons due to which the product is not famous among the people is found out and modifications are brought out in the product, so that people will start buying the product. Addition of New Feature: This is a third method of development of new product. This method resembles to the second method, but unlike the second method it is not necessary that the product is not famous. According to the growing need of the consumers modifications such as new technologies are added to an existing product. Introducing Existing product in New Market: This is the fourth method that company can adopt for development of new product. In this method a product of a company that is famous in one market is taken and introduced in another market, within different type of people.

D. Review of Literature of NPD: Concept of New product development: The product development is a very risky aspect of the company. The company should have to know about the science of the market for this process. The substitutes existing in the market may cause the entry of the product. So through a deep analyze of the market helps to make new strategies for the product development. This is also a challenge to the branded company. Because they want to keep, their position in the market. If the new product is a fail it may reflects in the marketing position. There should be high risk existing in the market at the time of the new product development. The company first know the requirements needed for the customers. From the, arket the business will get the expectations and the needs of the customer. The company should have the complete deep knowledge of the dynamic market and the new technologies adapted by the other competitors. After knowing the complete structure of the market the organization will produce the product and deliver it into the market. After the product deliver to the market the company will have the entire attention towards the new product for getting about the result of the new product development. The live updates from the market help to know the acceptability of the products and if changes required that may be reflect in the next production serious. The company is egger to know the feedback from the customer for better improvement in the next time. Importance of new product development: The new product development has equal importance to the existing business and the new business. These are the some importance of the new product development: The competitors always gazing at the other companies so when the company introducing a new product which is not in the market the competitors also trying to

implement it. But it may take some years. The company will get the time to expend the new product. When the new product is implemented if it is success it will affect the reputation of the company for new idea. In the long run the customers expectation and taste will vary. That time the company wants to make changes. The product will not have any substitutes. So it may lead to raise the demand of the customers in the market. When the company have getting the competitors in future it may a sprit to make innovations in the products.

Stages of developing new product: From the above passages we get the complete idea regarding the new product development and its importance. There is pre defined step is having for the new product development strategy. These are the steps which help to frame the new product. By keeping each stage in seriously will lead the product in a successful manner.

Stage 1: Idea generation: The idea generation is the first step following in the time of new product generation. Here the company is searching for the ideas from the alternatives. Choosing the idea from different option is a big task and the idea should lead a good promotion. So the idea can generate from the various sources. The following are the sources: a) Within the company i.e. employees: The employers will know the complete picture of the products, because they are spending more time with the production. So they have some idea of the products and its limitations. So they can share the new idea towards the products. The company should keep attention to know the facts from the employers. Their feedbacks will be a valid suggestion b) Customers: The next factor is the customers. The good ideas can get from the customers. Because they are users of the products. The company is mainly aiming at the customer satisfaction. So when the company get their expectation directly from the customer is great opportunity to understand them. And the company can frame the product according to their wishes. c) Competitors: The other factor is the competitors. The competitor always has a gaze in the related products in the market. The new technologies and idea can obtain from the other product to apply it in our product. The different product using the different technologies, so we can gather it in our product for better usability.

d) Distributors, suppliers and others: The distributers and the suppliers can provide new idea about the product. They are dealing more number of products in same series of different companies. So they can deliver the idea to the company about the customers taste and expectation of the product. And also provide why the other product having the high sales rather than our product. Sage 2: Idea screening: After the company collect the idea from the above sources the next steps occur that is idea screening. From the above sources the company will get more idea of the new product and the futures required for the product. So in this step the group of people thoroughly study the all feedback gets from the different sources. The company will gives importance to the each feedback collected. Accept most powerful response which is applicable for the new product developments. They will reject the ideas which are not acceptable for the product. But the rejection will after the deep study. All the possibilities of the product will discuss here. The company will listen all the response and take only few among these. Stage 3: Concept development and testing: Each company mainly focusing the profit. So when the product is developed they should have the movement in the market. Then only the company can get the desired targets. The concept is mainly based on the customers expectation. And the targets only focusing the customers, so we can directly ask the customers to be the concept is acceptable to the consumers. Based on the clarification we can frame the concept and will apply to the products. So the concept development is the stage to understand the idea taken by the company is feasible to the audience.

Stage 4: Marketing strategy and development: In this stage the development of the product is take place. After concept development the product is connecting with the market. The marketing strategy will prepared for the product and the features required for the marketing mix will determined from here. The target of the product will discuss here, it may be the sales based of the profit based. This is one of the important stages in the new product development. Stage 5: Business analysis: The next step is the business analyses. This stage gives importance to the cash flows and the product life cycle. The business is dynamic in time to time, so if the market is feasible only the product can stand for a long time. So the company has to analyze the market regularly for make the products position in constant. Stage 6: Product development:

The next stage in connection with the NDP is the product development. Here a set of protocol is delivering. In the initial stage the product will producing in the small quantity. Because the customers will not have the awareness of the new product. So the company cant predict the sales of the product in the initial stage. If the product is not acceptable by the customers it will be huge loss to the company. So the companies produce it as a sampling to test the future production rates and the acceptability of the product. Stage 7: test marketing: After the product development the next stage is the test marketing. The product is launched to the market, and it will be in continues observation to know its results. The company is also eager to watch the result of the product. Through the continues monitoring they can know the changes needed for the product and the strategies can apply for the product. The right marketing mix can apply by its results.

Stage 8: commercialization: The final stage is the commercialization. After the entire above test is completed the product is launched to the market for the marketing. Here the company will apply the new strategies fining in the tine of the marketing analyzes. Here the finished product is launched. The company can determine the level of the market and the regions where the product is reach.

CONCLUSION: The new product development is very important aspects. The above passages are giving the complete information about the new product development. Through the all eight steps a company can develop new product to the market.

Methods of new product development:

The following are the methods for the new product development: Modification/Alteration: It tells about the changes happening for existing product. The company will apply some new features to make changes in its features. Innovation: The innovation means that there will not be same products in the market yet. The product will entirely new one and the market also new one. Addition of new feature:

This is the will already in the market but have some additional features. But the additional features are enough to consider as new one. Introducing existing product in new market: When the product is introduced in the new market also considered as the new product. It is new for the market.

A.Helping stick Introduction of the product The product whichi would like to introduce in the market is the helping stick which can guide and support to the blind.it is evident that the handicapped people in general hesitate to take help from others.the help from others do affect their ego.normally they prefers to do their work independent doing all their works by themselves.keeping all these in mind I would like to manufacture this helping stick.it is conveinient for the blind people to carry a stick along with them since it helps in identifying the hindrences or the obstacles on their way.it can also help them in identifying the direction where they want to go using the stick.it gives them a matter of proud to meet their destination without the help of others. The software that asks for the post codes of two addresses the person needs to reach will be attached to the helping stick.the post code or address will be asked by the stick while they press a button.writing on it is of no use.there is no difficulties at all for the person using it because the stick is able to catch the voice commnd.the person speaks about the address or the post code of the place where he intends to reach.the software attached to the stick having alocal map will capture the route and will surely help him to find out his way while walking.thusthis stick will prove to be a great support nd easy guide for the blinds to meet their destination. The software companies which already possess facilities like this can come forward to manufacture the helping stick.for bringing out a product like this I have selected Nokia since it is one of the reputed companies it is not at all a problem for nokia to develop this product since they already have systems that shows directions.it is just like one receives the name of the area where he satnds at a point of time on his mobile. Introduction of the company

the company with a high reputation have a history of more than 100 years to talk about. the company began to function in the year 1865.it witnessed a continuous development form there .Nokia corporation was formed in 1967 formally merging Nokia ab, Finnish rubber works and Finnish cable works and later was coined as the Nokia corporation. it is possible to get mobiles,internet and pcswith invisible services integrated which can be used by them as a device along with the experiencing the poer of merging up of too many technologies. More than individual performances the company believes in togetherness.holding firmly in the idea of connecting peoplethe company aims at viewing the world to be a better one. To reach this vision the company plans to take lead in solutions which is provide by the Nokia.large scale working and the high reach are the two merits which are very competitive.apart from these they also have the advantage of smart services,integration of their perception the user experiences without any defects.it is not a far reaching ambition to become the top most mobile solutions since they are striving very hard for that. From the last few years they have taken some steps with regard to this process.the companys commitment towards their visions is very much evident and keep on trying to make it a fruitful one..they decide to expnd its service sector in the year 2007-08.they mainly intends to do as much as service possible.towards this their first step was to improve the structure capabilities.this also helps them work on the reorganization so as to bring different services.

In 2009 they took a strategy to work like change seekers in the best service providers.their aims and goals were specified clearly.they also give clear idea of four business strategic business objectives.guide lines to meet the goals were also being given to them. Towards the end it became possible for them to come up with solutionunits and they too built solutions and oprations mode. In 2010 the company focused on the strategy of developing fine tuning execution areas.the first aim is to put into action the plan and also finding out and settling the serious factors of success which is important to the strategy delivery of the company. The quality and speed are given most importance.more concern is given to arears which require high focus. The company has achieved graet fame for all its inventions these many years and its journey to successis continuos.their vision to begin new as aservice centre will no more remain as dreamsince they work continuously towards it.this result in a new and different product in the centre of different product.the resulted product adds to the gloryof the company towards attainment of their objectives of bringing people closer as the developed product places them highly responsible ones for the society.

B. The reason for developing the product;

Whenever I watch the blind people who walks on roads it is found that they are in need of others help to find out areas and directions in the map where they want to go but it is a fact they dislikes others help. they keep themselves away from seeking others helping hands but they will quietly wait for someone who will come and help them. they need help not only once but many times in a single journey. its in this case they are in need of this product. they can walk independently and also can feel more confident. the availability of this product imparts happiness to them and never allows them to ask for directions anymore to others. they can be independent by themselves to reach wherever they intends. Nokia will manufacture this software which needs to be connected to the walking sticks of the blinds its not at all a burden for the company since the technology is already available and the market of the product will be particular.Net provides us with many a countries and cities mapping systems. Only what is needed is to make specific. To limit huge information the chip contains map only for the local city. It is to be advantage of Nokia that they will not have to spend extra efforts and money in bringing up the systems. Aim of the research: The research aims at finding the feasibility, profitability, cost and other intangible factors along with creating market value for the product. Objective of the research: The helping stick should have found its place in the market many years ago. For normal people many things are available in the market but the handicapped seemed to be often neglected by the business world. In this world of technological progress these people should also find their firm holds in the society. many new products can be brought out to the market by the business men inorder to help these neglected portion of the people. along with gaining profits they can also feel proud by making them independent. the blinds can be made more confident and independent without seeking help from others. The new products should take the form of a chip having a clip. using these clips it can be connected to the walking stick of the blind. it is also usefull for some people

in their old age where there is a chance to forget many of the roads and areas. So old people can also consider using this product for their benefits. the objective of this product is surely to achieve profit by a product which never requires a new technology to be created but just needs changes in what already exists.

C.Analysis of market structure the analysis of market structure is based on the proters five forces. this analysis determines the external environment prevailing in the industry. it is being evaluated along with finding out the places which affects the company. According to porters five forces ,each and every industry is affected by five forces.it is always better to consider these forces first before starting the new business venture or bringing out some new products to the market . 1. The bargaining power of the suppliers If the product to be marketed intends for small group then there is no more scope for the power of suppliers to bargain.it is because of the less amount of product to be brought from them. The differentiation of cost , availability of suppliers in the industry , procurement cost and possibility to element suppliers are the things of concern to the suppliers analysis. 2. The bargaining power of customers If the number of customers is low in the industry then the customers are really great in the market. The customers can bargain and make a best benefit on price if some kind of goods are being brought out by different companies. If the company cannot be benefited from the industry, there will be only low profits and will have to work on that. 3. Entry barriers The cost benefits are high for many companies that works on the basis of large scale economies. they earn the same amount of profits by reducing the prices or by maintaining the similar prices offered by the other companies and also makes the entry of other launches of some other companies tough in

the industry. it seems quite hard for a small company to step to a new market where large companies have already made a large and grant entry. 4. Threat of substitution There will be products having similar functions but there will be product from different areas. these are the substitutes and it can not be of a low price as it affects the prestige of the organization. these substitutes will also make it tough for the company to reach the market. 5. no of competitors in the market this world of competiton needs one to follow the daily progresses. when a product is to be sold an essential factor to be taken into concern is the number of competitors that comes on the way in the market. less competition limits the expense on the product to be marketed whereas its increase means more strategies required to catch the attention of the customers should be adopted. To analyse the market research of this product all the elements monitored earlier are to be taken care of; 1. bargaining quality of the suppliers For the bringing of the helping sticks , a software that looks like a little mobile phone is to be produced and it should also have a charger. it can be charged as we do with the mobile phone. It is not at all a burden for Nokia for producing suppliers since the company has hold for more than years and also lot of suppliers waits to work hard for the company. 2. the bargaining quality of the customers Customers are essential elements in this product as their number is limited the product should be brought out and properly made available to the needed people without the difficulties and channels. The important field where it can be made available is the eye hospitals. it is not at all a loss of cost for the company since nothing more is spend for the extra research and manufacture and so the price offered can be affordable for the customers . it will bring the customers more close to the company and this era demands it highly 3. entry barrier The thought of other companies can be forgotten if the company can provide the product with a low price .the low price along with the availability of limited scope for the market prevent other companies to make its entry to the

field. thus it is comfortable for the company to come front with low cost with nominal gains. 4. substitution threat Threats from similar products can arise since many a mobile companies can directly provide the same quality in the mobiles alone instead of the sticks. now the threat of substitute is not there but it can be expected in the future. what should be done to overcome this is bringing the product as early as possible so that there arises no difficulty to the company. And it must have gained a name in the market by that period 5.Number of competitors in the market. By this time the competitors are very common for Nokia but for many of them reliability is a question it is not easy to think about and believe in any other name instead of Nokia for the development of the new product in the market. It will be tough for the competitors to duplicate it and bring it in the market provided by Nokia can develop it as early as possible and make it easy to get for the needed ones in the market. the market structure analysis reminds that the market for the new product is less but it will definitely be an added colour to the prestige of the company. They too need no extra research and complications and thus the product can be brought out effortlessly. the external environment never frightens the company and it is clear from the market structure analysis.

A: Name of the Product: Calories Calculator Nowadays life has become so busy that people rarely find time for taking care of their health. People cant find time for eating, drinking or sleeping properly. This has led to many diseases in the community like diabetes, blood pressure and obesity which will cause many heart problems. People are also much tensed because of their work and many other reason in the present time. They dont actually get time for a hygienic diet that is required for their long life, so often they go for many of the junk foods. This makes them fat. Also people dont find time for doing some workout. The main thing that they worry about is earning which results in all this. Sometimes because of work they will not be able to have food in a timely manner, all these small reasons will lead to dangerous diseases.

But from a few years people have started to become conscious about their health to some extent. Studies have proved that people are becoming calories conscious. Calories conscious means intake of calories has reduced so that more exercise need not be done. That means more time need not be spending on activities such as exercises and be relaxed. Now People can become calories conscious only if they know the correct food to take that is to know how much of calorie is present in each food that they take. There are several calculations that can be done to find out the calorie in the food, but all these are quantitative and one cannot always weigh the food and find out the calorie before they consume the food. I am developing a product to make this procedure easy. The name of the product is Calorie Calculator. It is a small microwave like machine that has laser lights inside it.If a person wants to have a food ,first they will keep the food inside the calculator that will inform them the calories present in the food and the person can take actions accordingly. Calories Calculator is a machine that can be commonly used in places like hospitals, homes, hostels etc. and it will also help a person to be health conscious because every time food is checked using the calories calculator, the person can decide whether to have the food or not or how much of it should he/she have depending on the calories shown. Introduction to Company: As the product that I am developing is related to fitness, I have selected a company that is a fitness background company. The name of the company is Jerai Fitness Private Ltd .It was established about ten years ago, but this does not mean it is an experience lacking company. The company has gained a lot of knowledge in these ten years and they are always looking forward for new innovative ideas. The goal of the company is to design, manufacture the worlds best fitness and weight lost equipment in the world. Many of their equipment were tested by the body builders of Mr. Universe in the year 2003. The company has arranged a team of fitness experts for this whole purpose. These people are well known in the profession what they do. They are from various fields like engineering, computer aided design, manufacturing, sales and distribution. Their can do attitude and workmanship have helped the company to create the best product in shape, art, design and technology. Calories Calculator will be made under this expertise control in the company. This is a kind of product that company has always been seeking for and will surely help the company to make a prominent place in the industry as well as in the market. The company has always brought out the best quality, safest, durable, most easily functioned and economical exercise machine in the market for the benefits of health conscious people.it is the first company to manufacture the most effective weight reduction and multi station exercise equipment in the industry. The company is still working on developing better equipment which will further help the common citizen. The success of Jerai Fitness Ltd. Lies in the strongly bonded relationship between the company and fitness centers, health centers, wellness centers, sports authorities, corporate fitness centers, military etc. The company mainly concentrates on what the main need of the consumer is and how it can be met and also how new technology can be used for the good health achievement .With this main aim in mind, Company develops new products and sells them in the market. From what I have studied about the company, the main motto of the company is customer satisfaction which is earned through the highest quality health equipment that they introduce in the market. Further details of the company can be obtained from the link provided below http://www.jeraifitness.com B. I am developing this product because

Good health is the main reason for which I am developing this product .In the busy life people often neglect the food habits and more often adapt themselves to junk food without even considering the amount of calories present in these foods. Many of the common diseases seen in the city areas like blood pressure, heart attack, diabetes etc. often are the results of not having a balanced diet. This product will come handy in this place because using this we can decide whether to have a food or not depending on the calories present in the food. Earlier the diseases mentioned above were found only in old age people but now days it is common even among the middle age people. People often take precautions only after they see the result that is, if they see that they have become fat then only they will adopt measures such as controlling food and others, so if a machine like this will display the amount of calories present then obviously people will take measures so they can avoid many such diseases. In the present time there are home devices to check pressure, sugar of our body but we dont have a product that will measure the calories in our body, this is the place where the product will come handy. As we always say prevention is better than cure, it is better that we know the food that we eat earlier than after we eat it.Usage of this product is also as easy as eating the food, just keep the food inside and the machine itself will alert you in case the calories is high. Such a facility is new in the market and will surely take a good position in the world of fitness. This product will also help a person to categorize food into different groups and decide which kind of food to eat. Each calorie that is shown is also recorded for future purposes by the product. The need of such a product is inevitable in the present time. Aim of the project: The aim of the project is to develop a product calorie calculator that will measure the calories in daily usage products and also that will make the user aware about their food habits. Objective of the project: The idea of Calorie meter is heard from a long time but the practical application of it for the regular customers is a totally new concept. I am sure that this product can be made possible by considering the following points 1. The product must be portable, so the design must be in a way that it is light weight and occupies less space. 2. A proper plate for the placement of the food should be there and also the display should be clear and readable. 3. The accuracy of the measurement should be of high precision. 4. The main class of consumers that we are focusing is the middle class people so the price of the product must be affordable for common people. We hope government will help us regarding this issue. 5. The display should be clear and readable. C: Market Structure Analysis The product that is developed should be introduced in a market that is well known to us. So this step is essential for the development of the new product. Therefore Market Structure Analysis is important for the development of the product. Porters five forces: According to porter there are five main forces that will affect the market as well as the industry. These five forces have been explained by him as follows.

Power to suppliers: The product that is developed cannot reach the market directly; it reaches the market through the suppliers. They are an important link between the product and the people. Depending on the number of suppliers or buyers of the product, the business is affected in many ways. If the number of suppliers is more in the market then the chances of buying of product will be more but the bargaining chances are more by the buyers and less by the suppliers but if the number of suppliers in the market is less for a particular product then suppliers get a chance to sell the product at a higher price. Thus less suppliers or less goods to be purchased from them will increase their bargaining price. Barriers to entry: New companies always have to face many difficulties while entering a new market, often the old existing companies that provide products regarding the same concept does not easily allow the new companies to enter a market where their base is strong because this might affect their profit. One thing advised for a new company if they want to enter a new market is that their product should have some competitive advantage over other products in the market. Substitution Theory: There are chances that products that do the same function as our product may come to the market. This will affect the business of our company adversely. Therefore the company has to continuously do some research on the new facilities that it can add to the present product so that a new product does not get a chance to overpower the companys product in the market. Buyers power to bargain: If the bargaining ability of the buyer increases in a market, then it means that either the number of consumers for the product is less or there is a large variety of same product in the market so the consumer has a wide variety to choose from. Degree of existing competition: Competition is something that a company has to face while in a market. The market conditions are tough so in order for the company to survive their product must be of high quality and should be very useful for the people. The company should also see that they should not loose hold on the market The above mentioned analysis was conducted on the product that I am going to develop; these were the findings from the analysis. Power of suppliers: The power of suppliers can be more in this case as the market which we are planning is not that big as the people who are conscious about the calories is less. But the company still can bargain with the suppliers putting up the point of future expectations. Power of buyers: The product is not a product of daily use, so proper marketing strategies should be used so that the necessity of the product can be well explained to the people and so that they will buy the product or else the whole product will be a waste. Existing competition: The competition that the company will be facing will also be less as the product is a new concept and the market that we are focusing is small. As the company has good marketing people so the sale of product will not be a problem.

New entry: There are chances of new entries after noticing the growth of the product as the product is a totally new concept and very useful. But we can take care of them by large scale production. Substitution Effect: There is no such product at present in the market so no case of substitute product will be there at present, but there are chances that other substitutes might come in future. But by the time the company would have earned goodwill of the people .But still as a precaution the company should try to integrate new technologies to the product and make some modifications to the design.

E: Research Methodology in marketing new product A product will become successful in the market only if it has the full support of the people. So the manager of a company needs complete information about the market in order to gain the support of the people for the new product. The choice of every person is different so a product that is released should be up to the expectation of all these people. So if we decide a standard for the product by ourselves that is not enough. So necessary information is to be gained from researches. Marketing Researches will give the exact idea on the basis of which manager takes the perfect decisions. Marketing research is a systematic process which is used to solve various marketing problems. Marketing Research strategy comprises of various steps like defining problem, research ,designing, identifying data types and sources, data collections forms and questionnaires are designed, sample planning and size, gathering information, analysis and interpretation of data and then final reporting There are various methods of research to be conducted in the market 1. 2. 3. 4. 5. 6. 7. 8. Exploratory Research Descriptive Research Casual Research Relational Research Deductive Research Inductive Research Philosophical Research Historical Research

Calorie Calculator is a totally new concept that will be introduced in the market and is sure to be a hit. There is no other competent in this field in the market. So it is necessary that the expectations of the

people are known and how much they are ready to pay for such a product should also be known. Also an approximate idea about the cost and maintenance of the product must also be known. So for all this a market survey is to be carried out with different groups of people. So the methods that will go with my job is Descriptive Research. So by this research I will have an idea about the demand of the product when released and also will have an idea how successful the product will be. Different method for collecting data: Data can be collected and analyzed in three methods 1. Survey: Here interaction is done directly with the people. Answer for the question that is given to them is recorded. Based on these answers decision is made. This is a lengthy procedure and large population has to be covered before a proper decision is made. 2. Case study: Here the product is studied in detail from all aspects .Based on this detailed study decisions and proper strategies are taken. 3. Experiments: Here several practical tests are carried out on the product in the laboratories. The results from these tests are used for developing new theories and decisions. For market research the method used is normally survey as the product is to be sold to the people and only from this method we will come to know if the product will be accepted by the people or not. Here many results are taken into consideration so not one but many ideas are taken and so this will help the company to gain profit from the product. Different sources and tools are used for the collection of the data and for understanding the market, several surveys have to be conducted. There are different sources for collection of data, these are 1. Primary data Here the data logs collected from the people or customers are used for making decisions. The data is acquired using some surveys. These are the direct ideas of the customers. This is very necessary in the case of Calorie Calculator as this is a new concept. By using this method we can collect most of the relevant data required for the development of our product. 2. Secondary data This type of data collection source is less expensive but is very risky. The base for this source is the primary source itself. This source is easy to collect data from. The data that is collected from this source should be used only if the authenticity of this source is available.

Type of data: Qualitative and Quantitative data

The data which includes descriptive type of questions is the Qualitative data and the data where statistical studies are involved is Quantitative type of data. Data Collection Tools: The data can be collected in many ways 1. Questionnaire In this, previously prepared question set is given to a set or relevant people for answering. This is a primary method of collection of data. There is no need for a direct communication with the people in this method. But the chances of getting accurate answers are less in this method.Inorder to get accurate answers it is better that this is conducted on a relevant group. To get more accurate answers, it is better to ask yes or no or give multiple choice questions. 2. Observation Here a direct interaction with the audience is done and major emphasis is given in studying the behavior of the target audience. 3. Interviews This is a direct communicative method with the people. Here interaction is done with the people person by person and a set of questions previously prepared are asked. Analysis is done on the basis of answers that they provide. The questions can be changed according to the interviewees answers. This is the most time consuming and expensive method.

For F. Meaning and definition of project:

This project is defined for to make awareness of the people about their food habits without a doctor. This will helpful to each family who are conscious about the health. The calories calculator is differ from the design, size, nature and also price. According to the persons health condition the company supposed to frame different in nature. And it is also considering the age group also. So the main concept is to know the calories having in the food chart prescribed in the health aspects. But it is different from the each person and the price.

Meaning and definition of Project life cycle:

Each product is having a life cycle to reach in the finished good stage. The life cycle is starting from the raw materials or the decision of the product development. The product life cycle contains steps involved to reach its targets. From the binging itself the company have the attention in the development. Then only the last stage can get with more efficiency. Each step is connected with the next and the previous steps. By finishing each step another steps comes out. This is a serious of activities one another. The next step is waiting to get the result of the previous one. By combining all the steps we can get a product. The product life cycle having a pre defined serious of steps. The description of the steps is below.

Concept and Initiation stage: the first step in the project life cycle is the development of the project. Here the company searching for the idea and the acceptability of the idea in the product and from the customer side.

Design and development: this is the second step of the product development. It helps to do the real implement of the product.

Implementation or construction: this is happen after the implementation of design and the development. In this step the project will lead according to the schedule.

Commission and handover: in this stage the group will hand over the project that is responsible. The authority will accept the project and they will check whether the product can meet the requirements. This is the last stage of the product development cycle. The finished good will get in this stage.

The product development is a important aspect in the business while they are going to release a new product in the market. The business should follow the stages for getting the final output. The product may require improvement in the future. It will cover so many mile stones.

The following are the miles stones i will need to cover for the efficient production.

CALORIES CALCULATOR

The milestones achieved will helps to understand the peoples for their works and the responsibilities. Researchers and the persons involved in the business will get a clear picture of the production development cycle.

G. Analysis of resources required for developing new project:

Stage 1: Idea generation: in this stage it will involve creating the idea which is suitable for the product. The company will gather the efficient idea from different sources. The source may be the customers, suppliers or from the physician etc from who are have good knowledge in the medical or health fields. The calorie calculator helps to avoid the monthly check up with the doctor to now the health.

Stage 2: Screening the Idea: this is the next idea followed by the first stage. Here the company will scan the idea which is collected from the various resources. The essential idea will select the company and other will reject after the deep study. This step consist high efficiency because this is helps to construct the actual product. This may a schedule for the production of the new product. The all requirements of the company will decide here.

Stage 3: Concept development and testing: in this stage the concept will develop. If any changes needed in the idea that we had decide in the above steps can change here. The space of the product in the market and its development is decided here. The product will compare with the idea and the decisions. The actual concept is derived from here.

Stage 4: Marketing Strategy and development: here the marketing strategy will decide. What are the measures taken for the product for the existence in the market? To create a space in the market among the competitive environment is tough matter. Here the preparations of the marketing strategies are take place.

Stage 5: Business analysis: in this step the company analyze the business on the particular products. The sales and the promotion cost and the customers rate will analyze in this step. The better analyzing make the product to be in the market for a long time.

Stage 6: Product development: the product will start to develop in this stage. When the company can achieve the target it helps to know the requirements needed for the product development. Up to this stage the company is supposed to keep improvement.

Stage 7: Test marketing: in the market testing the company will decide which market is searching for this product. Where from the product can easily move. These are the things will test through this stage.

Stage 8: Commercialisation: this is the last stage of the production development. From here the product can launch in to the market if it pass all the above steps successfully. From this stage the product will not provide any problem because the company has give equal importance to each step. So here all the above steps result will reflect here.

Product life cycle:

Name:

Rahul

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Milestones to be achieved Idea generation

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Week2

Week3

Week4

Week5

Week6

Idea screening

Concept and development

strategy

marketing Strategy

business development

Product development

Test Marketing

Commercialization

G. Analysis of resources required for developing new project:

When a business wants to frame a project, the company should seek some required resources from the outside. Here it is the resources need for the project development and the applicability towards the product. Here below are some resources:

Financial resources: Finance is the pillar for every aspect. It helps to realise the planning. Without the economical aspect a company cant exists for a long time. The arrangement of the funds has great extended in the business. The company can collect the finance thorough selling shares, raising funds, mutual funds etc. The company can collect the huge amount of the finance if the company have high brand image in the market. The business has to purchase machineries, land, new building etc. These all things require the high amount of the finance. The business can collect these requirements anywhere from the market who were it provide in low cost.

Tangible Resources: The next resources required for the business is the tangible resources. The resources may be in tangible and in tangible. The intangible resources are no in physically. We can notify it in a single glance. It may the good consist the company, or the brand image of the company and the reputation holding in the market. But the tangible resources are the physical resources that can notify easily in the business. The tangible resource is in the sense the assets holding in the business. It may the machineries, the land building consist for the company the other assets like computers, tools etc. The tangible resources are the asset to the company. The business can get its benefit in the long run. The company did not bother about these resources for a long time. It will provide the services in long run more than five years. So finance spends for the tangible resources have a great blessing to the company. Human resources: The human resources are the other aspect the company want to achieve. A business having huge number of man powers in the different fields. The business can grow with the help of this man power. The man power including the mangers, researchers, the workers, and other persons who are involving in the business. So the business should know their needs and requirements while working, this is a big asset of the company. So

they want to protect the workers in the company. Through tem the business can achieve high targets of production. The business supposed to know the workers satisfaction and provide relaxation of the working condition. The business wants to motivate them to work hard and it should provide some additional befits like bonus, rewards for the efficient workers. It may lead them to work hard for the company.

Training and development resources:

This tanning is essential for every new comer in the business. The new commuter does not have any experience in the related fields. So the company should provide efficient training for them to grow up. Through the better training they can get the entire picture of the company and their products. So they can work as an experienced person in the initial stage its self. The training require some financial aspect, sometimes the company think it may the loss to the company, but in the further result it will reflect as positive. Through the training the company can reach in the high production and profitable in the further time. Marketing Resources: After the production the product will reach the market for the promotion. So the company want to know about the marketing situations in advance to make changes in the promotion techniques and the requirements needed for the product. The marketing resources help to sale the product in the competitive market, along with the substitute. The make place in the market for the new product is a risky task for each company. So the marketing resources help to make the advertisement for the product. The promotion techniques depend upon the behaviour of the product and the markets behaviour also.

Information Resources:

The information plays an important role i the market. The company want to collect the complete details of the market and the competitive products. The business should provide connect with the various departments and the suppliers. They should fix information channel for the good communication among the business. The exchange of the upcoming ideas and facts all over the company helps to know the entire picture to the mangers and the customers. The company should keep a communication channel from the customers also get the feedbacks. These are feedbacks from the different sources helps to make improvement in the next product series. So that the information

resources is very essential for each company to responds of the products for making new changes in the products.

H. Source of these resources:

Our company have high reputation in the market and it consist a good brand image. So the collecting of the resources may be an easy task from the public. Here is some points denotes the sources of the resource and its availability.

The new technologies can buy from the different markets. Through the reputation the company can gets these are in easy way. The company can raise funds from the public. This is a profit oriented company so the public have no fear about the status of the company. They are waiting for to get shares of the company. Our company will collect the finance through these ways. The company can consult the bank also for the finance if it is not sufficient from the public. The company can make new strategies to produce the goods in the lower cost and they can sell it within the fewer prices to the market. This will helps to attract more customers. Our company having sound manpower requirements. So they does not want bothered about the human resources.

I.

Analysis of resources required for developing new project: The following are the resources required for the analysing of the projects.

Financial resources: This is the one of most important aspect for developing a product. The fianc is the pillar for each business. According to the availability of the finance the business can deliver more products in to the market and make change of the existing product. We are going to produce the calories calculator. This is a entirely new idea in the business. So the product need some research and new technologies, etc, these are will seek huge amount of the finance. But in future the company can cover these expenses through profitability of the product.

General market analysis:

There are some marketing analyzing techniques are having in the business. The main market analyze methods are STP analyze and the PESTEL analyse. The detailed description of these analyzes are below.

A).PESTEL ANALYZES

The pestel stands of political, economical, social, technological, environment and legal factors. These all factors will affect the business directly or indirectly in the market. Because of this the business should know the relationship of the factors along with the company. The political factor will affect the business in directly according to changes of their policies. Each political party having different rules and the taxation this will affect the business. The economical is the other factor. The changes in the transaction rate of the difference in the money values affect the business. Social factor is the next factor which affects the business. The social factor involves the customer satisfaction and the believes, region everything includes. Technological changes have a great influence in the business. Each times each business searching for new technology. So the technology is keeping changing every time. The company supposed to adopt it. Environmental changes are the next aspect. This may be outside of the business, even though it will directly affect the business. Legal also affect the business directly. The changes in the trade policy in different counties are the main problem. The detailed discussion of the pestel analyzes are below;

Political factors:

The political changes in the each country will affect the business indirectly. Each political group follow different policy in their ruling period. So according to these changes the company supposed to make more changes in the companys policy. The taxation policy is depending on the political parties and the price of the goods also affects the political changes. Sometimes the parties will adapt new employment policy to protect the urban peoples. So directly or indirectly these all will affect the business.

Economic factors:

The economical factors are the next aspect in the marketing analyse. The changes in the currency rates will cause the business to exports the products in to different countries. Some currency have low transaction rate when comparing of the developed countries. So the company has to tolerate these all conditions. The standard of life of the different people is in balancing when the price of the goods is goes up ward. Some urban people are having no much more economical factors to buy the product. So the company should consider all the people while fixing the price or the particular good.

Social factors:

The product is mainly targets to the customers. So the company have to satisfy the requirements of the customers. The company should consider the age group of the products and their tastes and the preference of the customers. The company have to focus on the customers behaviour and according to the customers the products design and features will change.

Technological factors:

Now a days, the customers having the complete knowledge of the different types of the technologies. They can desired what all are the technologies needed for their products. So they are choosing the products according to the new technology that is not providing by the other companies. The company should search for new technologies an idea. Through the adapting of new technologies to the product will support good promotion of the goods. The technologies can follow up from different countries and it will get from the deep analyzing of the market and other competitive products.

Environmental factors:

The environment tells about the external factors which affect the business. Some factors are beyond the control of the business. We cant control the factors but it will affect the transaction of the business procedure. Each country has different laws and regulation so the company supposed to follow the law even though it will provide sufficient benefit to the business. The business wants to frame the factors according to the law. These are the things considered by the environment factors. The company should give consideration to the society also, the business want to keep the healthy and safety towards the society and to the geographical area also.

Legal factors:

Each country has different legal policies. So when the company is exporting goods to different countries it will affect the business transaction. And also when the company want to import the material from different countries also may a problem of the legal changes. The trading policy and export-import clearance will affect the company. Sometimes some countries are restricted the international trade or for some particular products. These all are beyond the control of the company. In this situation the company has to take better solution to be constant in the market. The custom duties and the carriage clearance everything comes under the legal factors.

B). STP analysis This is mainly considered the life style of the people. It may different from each age groups and the location.

Ansoff matrix

Ansoff is given these classifications, from the above matrix tells the organizations to take a decision about whether they want be continue in the marketing and is the new product will sufficient for the business. They help to fix the condition of the business whether the company wants to terminate the process in the existing product in the existing market or existing product in the new market. The company will take the decision of the marketing of the product and the capital required for the business and the investment and the availability of the resources the response from the market etc. The company should have the clear picture of the market and the position of the company and their competitors existing in the market. Jerai Fitness Private Ltd has to choose another product in the same serious o sustain in the market with their calories calculator. The company should keep working towards the product for more innovations and for new technologies.

Product Development

Here the company is going to implement a new product that helps to make the awareness of the fitness of the health. The product will tell us how much calories are holding in the food and it will calculate the lack of calories in the food. They human are in the busy schedule they dont have enough time to spend more time with their food habits. They prefer the fast food by the time consuming and easy to get from the market. So in future it will affect the health of the people and they become sick in the youth itself. The nutrias needed for the health should know from the doctors its self. We want to spend more money in this way. But a calories calculator helps to know the history of the food we have eaten. According to the conclusion we can make changes in the food habits and we can know the things that should include in the food. So we can enjoy the food without any fear. This will make the society in aware of the health. And it may be a great revolution of the health strategy of the country.

Differentiation strategy:

Every one is doing the business, but to make difference from the rest is an art of business. So the business wants to discover more strategies to be different in the market. By applying the different strategies to the price, product, place promotion, design etc we can achieve the profit in the market. There is a generic strategy of differentiation is derived by the Michanel Porter for make the business different by adding several features to make changes in the quality, price, availability etc. The customers are also searching a different product from the market within their budget. The porters five force helps to make a revolution in the market. The business should be the customer oriented, they should ensure the customer satisfaction and the services providing by the company should sufficient for the society. There is several factors influence the porters factors. There will be some barriers of the entry in the market due to the new ideas of the product. The customers are not aware of the product in early. So the barrier will push the company to launch in the market. Our company having good brand image, so it may not be a reason to enter in to the market. The suppliers power is the other factor which affect by the company. The bargaining power of the supplier makes a reason to decrease the price of the product. If the product has more substitutes the suppliers will bargain to the company. But in this case no need to resist the bargaining as a new product which has no substitute in the market. The buyers force is the very particular in the promotion time. If the products have more competitors the customers may ready to buy other products if our features are not sufficient for the customer. But in the case of the new

product there are no competitors. So we will get some advantages to fix the independent price level for the product.

Marketing mix

The marketing mix consists of the price, place, product and the promotion, this helps to make marketing strategies. The company can meet all the requirements of the customers through it. So the detailed discussion of the marketing mix is here;

Product:

The business is waiting to get a new product that is satisfied to the customer. Here the product is the calorie mater, this helps to know the history of the product we have. As we prefer the fast food we are fail to know about the harmful things contain in the food. We are gives more importance to the taste rather than the benefits from the food. Here is the calories calculator that tells how much calories is having in the food we had eaten. Through this we can calculate how much nutrients contain in our food habits without the help of the doctor. It will be like a micro wave oven but having some laser lights inside it and also having a screen out side. When a person ready to eat anything, the food can keep in the container on the plate of the calories calculator and it will calculate the calories consist in the food.

Price: The product is acceptable to every human kind. Any special categorization is having the product for its use. So the company want to focus of every peoples standard of living and the sound of the economic back ground. The fast food makes a person fatter and it will harmful for their health. Too maintain the health the people are spending more time with the exercise and for gym. In this way people spend more time and money in the busy routines. So these all requirements will meet the price of the product. If it is a bit costly, it will reduce the money spend for the body maintenance. Another advantage is it will be protective to the whole family for a long period. It product have high efficiency thats why it require little costly. But more reliable and it will protect the whole family. According to the demand of the product the price will goes up.

 Place: As per the efficient uses it is acceptable to each country. Because, health is the main problem for each human beings. But in the acceptability of the company is in India, so the company will give more importance to India. But in the future plans the company makes more production for international trade also. The product will pass to the whole sellers, distributers and other dealers having high efficiency in promotion of the goods. The Jerai Fitness Private Ltd provides the products in each corner of the country where from the customers can easily buying.

Promotion:

The promotion plays an important role in the market. As a new product the awareness of the product will helps for the more sales of the product. So the company want to spend more amounts in the product. The company can chose a good TV channel or a news paper for the advertisement. The power of the advertisement helps to influence the people is they are supposed to use it. Because the health is the main problem for each human and they spend more money to the doctors for the health problems. The most of the health problems are depend on the food habits of the human. The company can deliver the advertisement in a sequential manner or only a particular time. The advertisement may be at the weekends and end of the month etc. If the company ready to spend more money for the advertisement they can deliver the advertisement between the crickets and other popular TV shows. The company also choose the still advertisement like the banner. The company can set a advertisement agency for good promotion of the product.

K. finding s and recommendations: the following are some of the finding and its recommendations from the above research:

The product having big budget and the company hoping good result from the product. So they want to keep changing the features of the product according to the acceptability and feedback from the customers. The innovations and additional features are required for the product as per changes in the technologies. The company is focusing the international dealer for the product. If any substitute comes out our company can get the result of the more experience. The product has no more competitors in the market so the company will get its benefits also. The company can make a place before enter a new competitor to the market.

 The promotion of the product is very big. So the company focused in the marketing efforts and for to make the society aware of the health and health issues.

my research purpose I will be using Questionnaire as the tool to collect data. This method is preferred because the answers will be very specific. This method will be easier for analysis purpose also.