New Product Development

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Sometimes the youth people feel guilt when they hardly need to present anything visual in an instant conversation or interview. This types of situation makes them upset as well as angry also. This attitude can hamper a bad affect on their career.

This product is for those people who can buy it in a cheap rate.

IDEA

After thinking about this problem we find out that, they will get extra benefit if they have a mini projector system. This mini projector idea generated us to produce this product.

Idea Generation:

After getting the idea we decided to make a meeting with all our members for generate the idea. In this meeting we told everyone to give their own opinion about this idea to how we can make it or about its features. After a long conversation we got some opinion and they are given below,

• Attach mini projector in pen drive.

• Make an operating system for pen drive mini projector.

• Copy the ipod operating system for this.

• Attach micro-sd card reader or bluetooth system on it.

Idea formation:

To make our product more acceptable we decided to make it as like a USB pen drive with its own operating system. For make a mouse control system we added a HDMI output.

Market segmentation

Four basic factors that affect market segmentation are:

Clear identification of the segment.

Measurability of its effective size.

Its accessibility through promotional efforts, and

Its appropriateness to the policies and resources of the company.

Our market segmentation

We mainly focused in specific market segmentations such as small businesses, families, younger customers, and consumers in search of media communication via pictures and messaging. We also target the student, businessman who worked at outside and the people who searching job.

Product:

The name of our product is iPen. This is a new invention of Friends & Company....