Executive Summary
Executive Summary
Executive Summary
Purpose of this assignment is to start a new product planning of Dragon Fruit Juice. Dragon
Fruit Juice is a new brand for Bangladesh. This is the first effort in Bangladesh to market this
product.
Dragon Fruit Juice is a leading health juice provider, facing direct competition from other
bottled juice. It will position itself in the same category.
Dragon Fruit Juice is much more than just juice and refreshment. It works for more
responsible hydration. It is great-tasting, nutrient-packed, an enhanced juice with added
electrolytes. In addition to providing a perfect complement to everyones less-than-perfect
diet, each Dragon Fruit Juice variety has a unique combination of nutrients to deliver a
specific benefit to get you through your day.
Our marketing strategy will be the reasonable price and the availability of products in all the
convenience stores and intensive promotional measure to expand the market which will
facilitate the marketing of future products to a considerable extent. Many comparative brands
were very aggressive are spent huge amount in advertising during the last few year.
Now, there are huge competitors in the market. So, we have to use huge promotional
activities.
Well use different Medias to draw the attention of the consumer like:
Press Advertisement (News paper & Magazines)
Television Commercial (National & Cable TVs)
Radio Advertisement (Bangladesh Radio & Privet radio stations).
Outdoor Advertisement (Billboards, Pestering, Neon sign etc).
Mobile Campaign (Road shows).
Moving Advertisements (Advertisements on vehicles)
Public Relations (Sponsoring & arranging Spot games shows).
Sales Promotion (Sampling, Gift and scratch card offer) etc.
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Particularly we dont have close substitute but we have substitute who can be threat for us.
They can decrease our profit margin such as Pran, Acme and Shezan can be threat for us
because they are the market leaders they will try to defeat us .
4. Threat of buyers growing bargaining power:
When intense competition arises the buyer can gain power to choose the best one for him. He
can bargain any product and he can switch another product if our product cant give his
expectation.
5. Threat of suppliers growing bargaining power:
The suppliers can be threat sometimes. If competition is high the suppliers can use any brand
if they want because they have alternatives to choose them. Sometimes they can increase
product price.
2.4 Competition and Competitors Strength and Weakness:
2.4.1 Major industry players in Bangladesh
Here we are showing current situation of regular branded bottled juice which are very much
popular in Bangladesh. These are given in follower:
1.
2.
3.
4.
5.
6.
7.
To buy this type of product consumers often do a lot of brand switching .They may hold some
belief, they choose a brand of this type of product without much revaluation and revaluate
that product during consumption but next time the consumers may pick another brand
.Consumers do this type of behave, when they are offered lower prices, coupons, free samples
and advertising. This offering presents reasons for typing something new.
3.2 Participants:
Consumers will interested to purchase Dragon Fruit Juice who are
Aware for their health
In supper middle class and supper class
Highly educated
Economic situation are strong and good
Young generation and corporate people
15 to 65 ages people
3.3 Buyer motivation and expectation:
Staying outside from home, consumers may feel tired. At that time they want to buy juice or
water. Consumers have expectation when they buy juice or water. They may expect that the
juice will pure and available, the juice will be healthy; the bottle of the juice will be looking
good. If the product fulfilled their expectation, they will motive to that product.
Threat Analysis
SWOT analysis is a basic, straightforward model that provides direction and serves as a basis
for the development of marketing plans. The role of SWOT analysis is to take the information
from the environmental analysis and separate it into internal issues (strengths and
weaknesses) and external issues (opportunities and threats).
The SWOT analysis summarizes the external environmental factors as a list of opportunities
and threats.
4.1 Strength:
High Quality With affordable Price: The major strength of our product is high
quality product and maintain affordable price. Our products differ from other
company product because of high quality and affordable price; we always try to
add some value with the product.
Distribution channels: We select retailers and dealer to carry our product to the
shops. We also inquiry the previous performance of retailer and dealers. Our
company select short distribution process as a result, our maintain cost reduce and
profit can easily increase. We use our own transport.
4.2 Weaknesses
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Target market: Because our companys product and service are international
standard in terms of both quality and price. It is difficult for our company to go for
mass marketing.
Preservation: It is much more difficult for our company to preserve the mango
products. Because food is so perishable product and also the problem of
temperature.
4.3 Opportunities
New market: The main peruse to enter the new geographical area is to be generate
profit as well as increase our brand image
4.4 Threats:
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Competitors: When we lunch our product in a new market, there are available
competitors. It is important for us to differentiate our product from other
competitors.
Changing Buyers taste: Consumer tastes are always changeable because they
always find different features from the product. The demand of the buyers,
change day by day.
Objectives Analysis
1. Mission statement:
At all times we are dedicated to work in a quality environment. Working with quality people
and offering quality products, thus ensuring growth earnings to our staff, principles and our
customers.
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To establish Dragon Fruit Juice in Bangladesh as a healthy juice we are targeting young
generation, sports people, thrill seeking people and also for those adults for whom nutrition
became a necessity with a span of age or due to some illness. It is for the daily source of
energy for the people. Our mission is to build a good reputation for Dragon Fruit Juice in
quality and to become a successful company in Bangladesh.
2. Our vision:
We hope that our investment in people and technology will enable us to develop our business
into a Successful Enterprise. Knowledge of Customers and the market will allow us to
capitalize on product and development and to be more flexible and efficient. We believe that
integrity is the key to gain the respect of the employees, the colleagues and the consumers
throughout the industry. A strong base from which we can build our project into a successful
enterprise can only be built by the joint effort and the commitment of our customers,
distributers, suppliers and employees.
Quality means everything to our company and our quality assurance systems are designed to
ensure our products meet all safety regulations and quality standards.
3. Financial objectives:
4. Corporate objectives:
5. Marketing objectives:
Profitability
Entering into new market
Technology development
Competitive position and public and social responsibility
Employee development
Our Basic Business Philosophy is not only to sell the product and earn the revenue. At first
we want to spread the product in Bangladesh among all regions. We will create more
variation and make product quality better than the others.
Marketing Strategy
1. Product:
It is fully mixture of fruits and also mixture of nutrition. Product is the key element in the
marketing offering .Our marketing mix planning begins with formulating an offering that
brings value to the target market. This offering becomes the basis upon which the company
builds profitable relationship with customer.
Quality:
Quality is the important part of the product attributes. We always try to maintain better
quality than competitors do. We never use chemical into the fruits, and our product always
offer freshness. Here product quality means performance quality-freedom from defects and
consistency in delivering a target level of performance.
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Features:
Product can be offered with varying features. We create high quality product by adding
features. Features are competition tool for differentiating the companys product from
competitors product.
Another away to add consumers value is through distinctive product style and design. We
can improve our packaging design for capturing customers value.
Product strengths:
1. Unique Quality
2. Unique design
3. Taste different
4. Different flavor
5. Can fulfill thirst and give energy.
Product weaknesses:
1. Expansive than others
2. New brand
3. Trust worthy from customers.
1.1 Product development:
To build strong customer mind we think about product development. We can improve
our product quality to capture customer which can maximize our product profit. Product
modification can attract our customer sometimes well modify our product quality, design,
benefits for the customer.
1.2 Maintaining Quality:
Maintaining performance quality is critical but frequently a product that leaves the factory at
performance quality is damaged as it passes through the distribution chain. This is a special
problem for international marketing. We will definitely try to maintain the overall quality of
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our product Dragon Fruit Juice. As it is a fruit juice so we will give more importance to
maintain the percentage of the core ingredient of the drink and that is various fruits.
1.3 Adaptation:
Economic:
The less economically developed a market is, the greater degree of adaptation it needs.
Sometimes a product has to be changed according to the new market and this is called
adaptation. Adaptation can be made according to legal, economic, political, and technological
and climate fields. As Bangladesh is a monochromatic country, they like to do works on time.
So we have to be punctual at every step of our marketing.
Price:
Price of our product can be determined as far as the target market is concerned. As
Bangladesh is an economically rich country, so we can charge price concerning that factor.
We guess pricing adaptation will not be very much critical for Bangladeshs economy.
Climate:
Changes may also have to made according to the climate differences. According to
Bangladeshs climate we can serve it on plastic bottle or on canned tin. The preference can be
made by looking at the market condition of Bangladesh.
1.4 Product life cycle management (as in new country):
Development:
When we generate idea and develop a product with new brand name in new country,
profits are zero .The investment are high and risk also high. Thats why we need to conscious
from our development process.
Introduction:
The initial period of time our sales will grow up slowly and profit will come slowly.
Growth:
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In this stage our customer knows about our product and conscious about our product
quality than our sales will increase rapidly and profit margin will be high.
Maturity:
This period of time our product sale can be slowdown for because of competitors will
know about our strong point and weak point. This time our profit not increase against
competitors.
Decline:
When sales will fall consistently and our profits will drop than we think about shut
down our production. Weve to do more promotional activity to recover it. Weve to find new
extension.
1.5 Branding:
Branding is a very important part of any product, a product always known by its brand name,
image and quality. We have chosen this word Dragon because its the name of fruit and
make fresh juice.
There are typically four levels of meaning conveyed by a brand name. The following is an
analysis of what Dragon Fruit Juice brand names conveyBrand
Level
Attribute
Benefit
Value
Healthy life
2. Price:
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Pricing is one of the major issue which is a component of a full business plan. We selected
the price for our product Dragon Fruit Juice by considering various things like, price assigned
by their country will import whether consumer will purchase it, differentiating our product
from competitors, maintaining line with our marketing strategies and the product attributes
etc.
2.1 Pricing objectives:
One should select pricing objective keeping in mind about the business and financial goals.
As our mission is to be leader by providing worlds premier consumer product Dragon Fruit
Juice, our pricing objective is to increase market share and even maximum profit by charging
reasonable price than the competitors do.
2.2 Pricing Strategy:
Our company will follow the premium pricing strategy because our product Dragon Fruit
Juice is the premium product and we hope that it will be able to make a good position in our
consumers mind by divining its superior service and value. Premium pricing is the practice of
keeping the price of a product artificially high in order to encourage favorable perceptions
among buyers. It is intended to exploit the tendency for buyers to assignment expressive
items enjoy an exceptional reputation, are more reliable or desirable, or represent
expressional quality and distinction. As the features of our product matcher with this Strategy,
we decided that we will follow the premium pricing strategy.
Dragon Fruit Juice- (Mango)
Buy/Sell
Bottle of 250ml -
BDT
Bottle of 500ml -
BDT
Bottle of 1000ml -
BDT
25.00/Unit
3. Promotion:
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i.
Advertisement:
Newspaper:
One of the oldest and most effective media is newspaper, will call a newspaper media
conference where we will give a detailed idea of our company and our product and for what
reason we want to launch Dragon Fruit Juice in Bangladesh..
Radio:
Currently Radio as one of the most famous media all around the country, a huge number
of old, young generation are fan of it, we will advertise our product in radio too.
Television:
A large number of invest would go on this sector, a full 50 second length of TV
commercial will be made by some celebrities and it will be shown of all the television
channels.
Free samples:
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We will provide free samples of 250ml pack to different schools, college & universities,
shopping centers especially where the females are gathered. Like girls school, Ladies club,
school gates, girls colleges.
ii.
Sales promotion:
Electronic Promotion:
Website:
We will launch a full dynamic website where we will give a full information about our
company, about our companys mission, vision and objectives, our product range, our
standard quality rating certified by different organizations, our distribution channels, our sales
promotional activities, our new product launching section, feedback section, contact section.
4. Distribution:
4.1 Geographical Coverage:
Our geographic coverage will be in five huge warehouses, one in each division of
Bangladesh and then in future after establishing our product in these areas we will launch our
product in the rest of the cities of Bangladesh. The company does not use its own fleet of
transport for distributing its product. However, it has outsourced its distribution process to
various third party distributors. These distributors then supply the product all over
Bangladesh to a huge number of retailers.
4.2 Distribution Channel:
The companys distribution channel is not very difficult because of the nature of the product.
The company has the efficient distribution system that is earning a lot through mass sales.
4.2 Physical distribution and Logistics:
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In terms of distribution special focus would be given to the availability of product at Modern
Trade outlets, Big Grocery stores, and International Chain Accounts. Wholesale distribution
would be patchy. Convenience stores are another channel to be targeted for the availability.
Types of channels will be Direct like via sales force.
4.3 Electronic distribution:
Using the latest e-business technology, WEBSE E-Distribution provides our business with an
affordable, fully functional business application which meets your business demands and
achieves cost effectiveness. We are also using e-mail and SMSs to distribute our product.
5 Market Segmentation:
Our product is healthy and the price of the product is high. So we are segmenting the
consumer market by income level and education. We differentiate the segments according to
Socio Economic Cluster (SEC) i.e. education and Income. The Socio Economic cluster
divides the population in five segments starting from A to E. A categorizes the highly
educated and high income earners holders. B categorizes upper middle income and educated
slightly less than A category. C categorizes middle income and educated slightly less than B
category. D categorizes lower middle income and educated slightly less than C category. E
categorizes low income and very low level of literacy.
Income
A
High
B
Upper
Income
Middle
Income
Level
E
Low Income
Middle
Income
Educati
High
Income
Educated
on
Level of
Slightly
Slightly
Slightly
Level of
Educatio
Less than
Less than
Less than
Literacy
Cluster A
Cluster B
Cluster C
Educated
Educated
Very Low
Dragon Fruit Juice is healthy juice. This juice is containing some nutrition. So age is most
important to segmenting the market. We again differentiate the segments according to age.
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The Age Chart divides the population in eight divisions starting from 1 to 8. Less than 6 ages
stay division 1, 6 to 10 ages stay division 2, 11 to 14 ages stay division 3, 15 to 19 ages stay
division 4, 20 to 34 ages stay division 5, 35 to 50 ages stay division 6, 51 to 65 ages stay
division 7 and 65+ ages stay division 8. Weve targeted division 4-7.
6
Target Market:
The target consumers of Dragon Fruit Juice are people who want something healthier. Dragon
Fruit Juice is affordable and healthy. The people whose economic situations are strong and
who are aware about their health want to buy the product. Whose economic situations are
poor and who are illiterate they will not want to buy Dragon Fruit Juice. They have not
enough money. They are not aware about health. So the people of categories A, B and C can
buy this product. Other side Dragon Fruit Juice contains some vitamins and nutrition. This
water is helpful for the 15 to 65 ages people.
7 Marketing Research:
Our company wants to develop and introduce a new Product. So, we have gathered
information through in-depth interviews. We made a survey of the market to have a clear
idea about our market, our customer demand, needs and wants. This information helps us to
know about the current market and prospects of our new product.
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Action programs
Dragon Fruit Juice has decided to do some action programs to achieve their goals and to
recognize the product throughout the country. Here are some action program vitamin water
do through the whole year:
Project time
Project plan sheet
1. For the month of Our company has
January
arranged
Budget
promotion BDT 100000.00
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2. February
3. March
power.
At march we will do advertisement through BDT 100000.00
mass media for the reorganization of the
product. This work will be done by two types
of people, one is those who are related to the
media and the other is those who are related
to our company to handle this. Our company
decided that we will select 7 employees for
4. April
5. May
6. June
8. August
9. September
10. October
11. November
12. December
company.
One of the oldest and most effective ways is BDT 80000.00
announcing, where there is no TV or radio or
medias. It is very effective as we have seen
different product launching. This is the last
task of action programs. This will be done by
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Budgets
Income Statement
Particulars
Amount
Net sales
Cost of Goods Sold
Amount
$1000000.00
$500000.00
$500000.00
Gross Margin
Marketing Expenses
Sales expense
$120000.00
Promotion expenses
$100000.00
Freight
$90000.00
$229000.00
$100000.00
$110000.00
$210000.00
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Indirect overhead
$610000.00
Net Profit Before Income Tax
Balance Sheet
Particulars
Amount
Amount
Assets:
Cash
800000.00
Accounts Receivable
100000.00
Prepaid Insurance
Equipment
(-) Acc. Depreciation
30000.00
300000.00
150000.00
Total Asset
150000.00
1080000.00
100000.00
30000.00
150000.00
280000.00
Owners Equity
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Capital
800000.00
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Marketing Activity
Date of review
Monitoring
Review Outcomes
Method
Personal
Review outcomes :
Online advertising
communication
1. We found public
Mail-out
survey, public
Give way
opinion, collecting
were interested to
Media release
information from
Event
retailers and
Public relation
wholesalers.
give us our
Print advertising
demand pricing.
2. Sales or profits
figures are given
below
3. 20% repeat
customer we have
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found
4. 1000 customers
in a week.
Bibliography
1. http://www.everyculture.com/Cr-Ga/Bangladesh.html
2. http://Bangladesh.dk/
3. http://erhvervsstyrelsen.dk/file/6194/BusinessPlanTemplateUK2007.doc
4. http://www.startupoverseas.co.uk/expanding-a-business-inBangladesh/preparing-to-expand.html
5. http://Bangladesh.dk/en/practical-info/invest-in-Bangladesh/
6. http://www.euromonitor.com/fruit-vegetable-juice-inBangladesh/report
7. www.arla.se/vara-produkter/produktgrupper/juice/
8. http://www.rynkeby.dk/
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