Marketing Research & Innovative Product Launch in Indian Sanitation Industry
Project Report from the year 2014 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: B, University of Bedfordshire, course: MASTER OF BUSINESS ADMINISTRATION, language: English, abstract: This report on the topic of launch of Innovative Product within Indian Sanitation Industry. The scope of this report is broad. It has been discovered that innovation in marketing offering (products or services) managed to command top attention from the majority of CEOs. Innovation in product is considered as major opportunities for the purpose of making customers loyal to the specified brand. There is no doubt in saying that Indian Sanitation industry has been growing on consistent basis and also promising great potential for future prospect as well. By analysing, all forces of Porter Five Forces model, it has been inclined that Indian Sanitation industry is attractive and has potential for growth in the long term. It has been discovered with the help of PESTLE analysis that there are two aspects (Sociological & Environmental) that could pose threat to the Indian Sanitation industry while the other four aspects (Political, Economical, Technological and Legislative) would be seen as great opportunities for the Indian Sanitation industry. DG Corporation (Entrepreneur Business Idea) is Indian based company and is thinking of entering Indian Sanitation industry with its innovative product named as DG Solar Glass Sanitizer. The core objective of DG Corporation is to successfully execute the launching plan for its Solar Glass Sanitizer. The company's main competitive is that the company is going to successfully launch its innovative product. As the company's DG Solar Glass Sanitizer is based upon innovative idea so that the company is planning to adopt Differentiation strategy. For the targeting purpose, DG Corporation is considering strongly to target middle class and high class social classes of urban areas. In regard to Positioning, DG Corporation is aiming to position its Glass Sanitizer on Point of Difference basis. For the marketing mix strategies: the company has formulated four aspects (DG Solar Glass Sanitizer would use UV technology and boiling & steaming method for removing germs from the glasses, the skimming pricing structure would be adopted, the company would utilized all available promotion methods and for placement the company would make relationships with few wholesalers). It has been recommended that trend of launching innovative marketing offerings (products or services) has been getting prominent these days and also incorporates more potential for success within almost all industries.
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