New Product Development Strategy: a Case of Credit Card VisaGold "iGlobe.ru-HomeCredit"
Student: Khokhlenko Sergej
Supervisor: Natalya Porotnikova
Faculty: Faculty of Management
Educational Programme: Bachelor
Year of Graduation: 2014
<pre><strong>New Product Development Strategy: a Case of Credit Card VisaGold "iGlobe.ru-HomeCredit"</strong></pre><p>The basic theoretical and practical aspects related to the development of a marketing plan are considered in this paper.</p><p>The prerequisites for investigating this problem were caused by the modern conditions of creating and launching new products to the markets for conquering or saving the market share, high risks of withdrawing, the difficulty of forecasting and assessment of possible consequences or unexpected results due to uncontrollable external factors and internal factors, which are difficult to provide, as well as a high degree of consumers’ interest in getting the best product.</p><p>The object of the research is the market of credit bank cards in Russia.</p><p>The subject of the research is new product development strategy of HomeCredit.</p><p>The objective of the research is the developing a marketing plan for a credit card for 2015.</p><p>In order to achieve this goal the following problems were solved: the concept of strategy was studied, the credit card market was analyzed, the research was conducted, significant characteristics of the product were revealed, a significant segment of the market was distinguished, a marketing mix was developed, the budget was defined, economic efficiency of the strategy was estimated, the key factors of success/failure were determined, a marketing mix for 2015(17) in consideration of its launching experience and recommendations was developed.</p><p>The work consists of an introduction, three chapters and a conclusion. The introduction outlines the relevance of the subject-matter chosen, the object and the subject of the research, the objective and a number of tasks, which should be solved in the course of the topic analysis.</p><p>In the first chapter the marketing plan itself, its essence and its structure are considered. Then the expedient need for a marketing plan is explained. In addition, a planning in a more general form as a management function is presented in the first chapter. Besides the concepts “marketing planning” and “marketing research” in the theoretical aspect with the main emphasis on the research function are analyzed.</p><p>The second chapter is devoted to the analysis of current situation in the credit card market. This chapter presents the analysis of the market dynamics and comparison of credit product with the main competitors’ products.</p><p>The third chapter is devoted to the strategy development. It describes a study conducted by the bank before the creation of the product. In the first paragraph the objectives and the tasks of the research are described, the plan is developed, the study for identifying the most significant characteristics of the product is conducted and the analysis of the results for further development of marketing strategies for creating and launching a new product on the market is presented. Besides the segmentation is made, the marketing mix is developed, the budget is determined, the cost-effectiveness is estimated and the marketing mix for 2015-17 in consideration of recommendations and launching experience of the product in the first quarter of 2014 was developed. At the end of the chapter the control technique within the organization is described.</p><p>In conclusion the research results are described and besides some guidance in connection with the marketing policy of the bank are given for improving the situation with selling credit cards.</p><p>During research some textbooks and articles on the topic were used. Analysis of extensive marketing research material of banks allowed to analyse the situation in its contemporary aspect. For the description and explanation of the theoretical aspects some textbooks and books on marketing were used. In the practical part principally all articles and news were taken from the Internet. In our opinion, the articles allowed to consider the problem in a modern line that provides an invaluable contribution to the study of this issue today.</p><p> </p>
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