A new product proposal is a plan which highlights the features of a new product to be launched by a company. New products or updated versions of products are frequently released by companies in order to satisfy consumers and keep their stronghold in the market. By making introductions of new products, the company can stay ahead of its rivals and give consumers a greater choice of opting for the latest offering. Since it is a new product, the clients must be made aware of the characteristics or unique selling point (USP) of the product. They must also be informed how the new product will add to the profits of their company.

Sample New Product Proposal:

Name of company: New Age ACs

Address: 92 Rockford, Iowa

Proposal prepared on: December 21, 2011

Proposal prepared by: Jared Manners

Sales Manager, New Age ACs

Proposal submitted on: December 27, 2011

Proposal name: Introduction of new range of ACs – the Comfort series

Product description: The product a wide range of designs with attractive exteriors and both remote controlled and automatic sensors which adjust the temperature of the room according to your preferred settings

Purpose: The purpose of this proposal is highlight the features of the product and make a plan for its launch

Target market segment: Middle to upper middle class

Competitors: There are no similar products in the national market yet

Other details: A multimedia ad campaign will be launched and press conference will be called to make people aware of the product

Estimated cost of the project: $100,000

Proposal signed and approved by: Gary Jones

Marketing Head, New Age ACs