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Gro Stop: Anti-Sprouting Market Strategy

The document outlines the steps in developing and launching a new product called Gro Stop, which is an anti-sprouting treatment for vegetables. It discusses collecting market data to analyze growth and competitors, assessing feasibility by checking yearly demand, specifying product features based on market demands, developing prototypes while considering switching costs, reviewing the design before further steps, market testing for efficiency, introducing the product where demand is highest, and following up to evaluate weaknesses, strengths, and next steps for gaining market share.

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Malik Muhammad Jamal
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6 views1 page

Gro Stop: Anti-Sprouting Market Strategy

The document outlines the steps in developing and launching a new product called Gro Stop, which is an anti-sprouting treatment for vegetables. It discusses collecting market data to analyze growth and competitors, assessing feasibility by checking yearly demand, specifying product features based on market demands, developing prototypes while considering switching costs, reviewing the design before further steps, market testing for efficiency, introducing the product where demand is highest, and following up to evaluate weaknesses, strengths, and next steps for gaining market share.

Uploaded by

Malik Muhammad Jamal
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Product Name: Gro Stop (Anti sprouting for vegetables)

Idea Generation:

Growth in the market is increasing year by year with increase in Population and to meet the demand of
food.

Collect data from last 5 years, to check the growth in market in real and to support the hypothesis. Data
will also help to check the competitors dealing with the product and their strategies.

Feasibility:

At this step, we will check the demand growth yearly for the product, the demand for the product allow
us to enter in the market and generate enough revenue for our firm.

Product specifications

We have to check specification of the product before investment, we also have to consider the market
demand specification which type of specification market favor, we may introduce new product with new
specifications to get more profit by showing innovation.

Prototype Development

We may generate more profit by using product with different specifications, but we must have to check
the customers changing costs, we have to provide product which have no switching cost, like Gro-Stop
will be used by the same machines and other specification which already installed.

Design Review

Design review is very important before switch to next step, in this step we have to check either the
product having possible positive outcomes or negative. Change the pervious steps according to need
before next.

Market Test

Market test also Knows as soft launching of product, to check the product efficiency in real sense before
lunching in whole market. This step allows us to check the specifications properly working or not. The
research done earlier having results as we analyze.

Product Introduction

Before introduction of the product, we have to check overall product demand area geographically and
design where we have to introduce first, where maximum other customers come to know about the
product.

Follow up evaluation

For proper lunching in coming years, this step having importance, this will help us to check the
weaknesses and strong points of the product. This will help to evaluate how we have to move forward
to get maximum shares from the market. What is customer behavior and all.

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