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    Marketing 4P Assignment: by Group 2

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    Wasp_007_007
    This document provides details on 5 product ideas from a marketing group at IIT Bombay. The products include: 1) A multipurpose window panel that acts as a curtain and whiteboard. 2) An artistic daily planner diary. 3) An eye mask with a cooling pad insert. 4) A multipurpose board combining a whiteboard, memo board, and notice board. 5) A door holder to prevent door-related injuries. For each product, the group outlines the customer needs, proposed products, target markets, and pricing strategies with modest profit margins between 10-20%.

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    Marketing 4P Assignment: by Group 2

    Uploaded by

    Wasp_007_007
    41 views6 pages
    This document provides details on 5 product ideas from a marketing group at IIT Bombay. The products include: 1) A multipurpose window panel that acts as a curtain and whiteboard. 2) An artistic daily planner diary. 3) An eye mask with a cooling pad insert. 4) A multipurpose board combining a whiteboard, memo board, and notice board. 5) A door holder to prevent door-related injuries. For each product, the group outlines the customer needs, proposed products, target markets, and pricing strategies with modest profit margins between 10-20%.

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    4P ASSIGNMENT.docx

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    This document provides details on 5 product ideas from a marketing group at IIT Bombay. The products include: 1) A multipurpose window panel that acts as a curtain and whiteboard. 2) An artistic daily planner diary. 3) An eye mask with a cooling pad insert. 4) A multipurpose board combining a whiteboard, memo board, and notice board. 5) A door holder to prevent door-related injuries. For each product, the group outlines the customer needs, proposed products, target markets, and pricing strategies with modest profit margins between 10-20%.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    41 views6 pages

    Marketing 4P Assignment: by Group 2

    Uploaded by

    Wasp_007_007
    This document provides details on 5 product ideas from a marketing group at IIT Bombay. The products include: 1) A multipurpose window panel that acts as a curtain and whiteboard. 2) An artistic daily planner diary. 3) An eye mask with a cooling pad insert. 4) A multipurpose board combining a whiteboard, memo board, and notice board. 5) A door holder to prevent door-related injuries. For each product, the group outlines the customer needs, proposed products, target markets, and pricing strategies with modest profit margins between 10-20%.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 6

    Marketing 4P Assignment

    By Group 2

    Name Roll Number


    SHUBHAM KAPOOR 189278051
    DANISH KUMAR 189278041
    AMRINDER SINGH 189278077
    SATABADI ROY 189278032
    HARSHAL SUTARIYA 189278067
    SUNILKUMAR SHINGALA 189278034
    1. MULTIPURPOSE WINDOW PANEL
    Need:

     Prevents penetration of sunlight thus keeping the room cool


     Prevent dust from getting into room
     Prevent onlookers
     Low cost White board

    Product
    We are making cost effective multipurpose curtain by using material that can be used as a
    white board. We can use this as curtain with additional benefit of customised it as a drawing
    board or as a daily planner.
    Material used:

     Flex as curtain cloth


     Stick: either cardboard or wooden
     Glue
     String
     Cardboard as a small panel
    Customer Value Hierarchy:
    Core benefit – Shielding the room from sunlight
    Expected benefits – Cost effective and easy installable Window panel with minimalistic
    design
    Augmented Benefits – White Board- Can be used as daily planner
    Market Size:
    In all hostel, all room have two windows which required two curtain.
    Assumption: Average number of students in one room- > 2
    Number of hostel in IIT Bombay -> 18
    Total number of rooms in Hostel 15 IIT Bombay: 480 (approx.)
    Total number of curtain requirement in hostel-15 = 1000 Nos
    Total number of curtain required in IIT Bombay = (1000 * 18) = 18000

    PRICE
    Since our target market is mostly IITB students, the pricing should be such that our target
    segment should be able to afford the product offering.
    Also we are expecting that product will be bought repeatedly by same customer once
    product has been utilized fully. So we will keep a very modest 10% margin on the product
    while selling the product.

    2. DAILY PLANNER- ARTISTIC DIARY

    Need:

     To organize daily schedule and effective planning for future activities

    Product
    We are making effective daily planner that can cater need of daily to do list, schedule, goals,
    motivations, special events, and special space for creative writing g or doodling.

     Spiral bounded one-month diary


     Size: A5 for easy carrying
     Multi-colour paper
    Customer Value Hierarchy:
    Core benefit – Diary
    Expected benefits – Colourful and artistic design
    Augmented Benefits – All in one with specified organised activities spaces

    PRICE
    Since our target market is mostly IITB students, the pricing should be such that our target
    segment should be able to afford the product offering.
    Also we are expecting that product will be bought repeatedly by same customer once
    product has been utilized fully. So we will keep a very modest 20% margin on the product
    while selling the product.
    3. EYE-MASK WITH COOLING PAD
    Need:

     In sharing hostel room, it is always difficult to sleep when roommate is doing his
    work with light on
     It is difficult to sleep in afternoon due to light
     After excess reading and sleep deprivation you need some eye soothing
    Product
    We are making an eye mask with cooling pad in which we can put cold water or Ice and use
    it for soothing eyes.

    Material used:
    Eye mask – Silk and Cotton
    Cooling pad – Rubber bag with polyester packaging

    Customer Value Hierarchy:


    Core benefit – Prevent the light during sleep
    Expected benefits – Give eyes soothing effects

    PRICE
    Since our target market right now is mostly IITB students, the pricing should be such that
    our target segment should be able to afford the product offering.
    Also we are expecting that product will be bought repeatedly by same customer once
    product has been utilized fully. So we will keep a very modest 15% margin on the product
    while selling the product.
    4. MULTIPURPOSE BOARD
    Need:
    In Small hostel room of IIT Bombay it required to judiciously use space for board or
    organizers.

    Product
    We are making combination of three mostly used board by students in to one board to give
    them choice to take only one board to do all the things.
    We are combining:
    White Board – for writing
    Memo Board-for sticky notes
    Notice Board- for putting bulletins and articles

    Customer Value Hierarchy:


    Core benefit: All in one Board for all needs
    Expected benefit – Optimization of room space
    Price:
    Since our target market is mostly IITB students, the pricing should be such that our target
    segment should be able to afford the product offering.
    Also we are expecting that product will be bought repeatedly by same customer once
    product has been utilized fully. So we will keep a very modest 20% margin on the product
    while selling the product.
    5. DOOR HOLDER
    Need:

     To hold the door at slight margin before closing to prevent injury to child

    Product
    We are making a door holder that hold just before the closing so that if someone has fingers
    on it does not cause any injuries
    Material used:

     Plastic, wood and rubber


    Customer Value Hierarchy:
    Core benefit – hold the door
    Expected benefits –prevent injuries

    PRICE
    We are taking 10% profit margin for this product.

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