New products are the lifeblood of any company, fueling its survival and growth in the long run. But the development and introduction of new products that will ultimately be profitable is fraught with the risks of heavy up-front expenditures and uncertain future payoffs. A daunting combination of stagnating sales in mature markets, rising costs, and a focus on short term earnings leaves management in a very uneasy position.
We…show more content… Reason behind choosing this idea:
As new product development is costly and risky, our product will be an improvement and revision of existing product. That’s why we are devoting into face wash to Facial Cleansing Category. That is a new product or product feature that provides improved performance. Basically facial wash products are sold on liquid form in our country and they are contained in tube or plastic bottle. Our idea is to improve the face wash product to facial cleanser. We will differentiate it by improved performance and obviously ‘Ease of Use’. This will be handy especially for the people who are in rush, who are busy and who often forget to remove makeup!
We well be introducing the facial cleanser category by offering consumers a softer, stronger and more soothing facial cleanser that delivers the customers superior value in terms of product performance. Facial Cleanser will leave your skin soft and smooth and it is
100% oil and alcohol free. This advancement in tissue technology will be notable in the category and only offered by us.
Concept Development
It is important to differentiate between a product idea and a product concept. An attractive idea must be developed into a product concept. From these ideas we have to create 'product concepts'. These describe the product benefits and how they will meet the consumer needs. Several concepts were written in
