New Product

Company Overview

United Breweries Limited (UBL) – has assumed undisputed market leadership with a national market share in excess of 50%. Through a process of aggressive acquisition and market penetration, The UB Group today controls 60% of the total manufacturing capacity for Beer in India. The flagship brand, Kingfisher is now sold in over 52 countries worldwide having received many accolades for its quality.

Macro-Environmental Analysis

Political Factors

The political forces affect the beer industry to a large extent.

The rates of the beer in various parts of the country are affected by the taxes and duties applied by the Govt. The political forces also affect the pricing of the beer by lowering the duties or deregulating the distribution channel. This leads to lower margins for the distribution channel partners. But, as 75% of the Indian market is covered by two players, there hasn’t been a reduction in the margins of the manufacturers. The taxation policies also affect the consumption patterns. Economic Factors India is home to nearly one-sixth of the global population and is one of the most attractive consumer markets in the world today.

The total worth of Indian Beer Market is Rs 750 crore. This market is expected to expand by 39% by 2010. The beer consumption has been growing at a CAGR of 7% over last nine years. India provides attractive profit margins due to the consolidated nature of the industry. Various research studies have shown that a rise in the income levels has a direct positive effect on beer consumption. The National Council for Applied Economic Research (NCAER) projects India’s ‘very rich’, ‘consuming’ and ‘climbers’ classes to grow at a CAGR of 15 per cent, 10 per cent and 2 per cent respectively.

Thus, India gives ample opportunities for the UB Group to grow.

Social Factors

A deep-seated traditional social aversion to alcohol consumption has been a traditional feature of the Indian society. However, as urban consumers become more exposed to western lifestyles, through overseas travel and the media, their attitude towards alcohol is relaxing. Social habits are undergoing a transformation as mixed drinks are becoming more popular. The greatest evidence of this trend is the increase in beer consumption among women.

More and more women are consuming beer – the penetration in metropolitan areas is almost twice as high as the penetration in other large cities – implying that the greater tolerance towards alcohol consumption in metropolitan areas facilitates the consumption of beer. With increasing urbanisation, this acceptance is only going to rise. As a consequence of the high birth rates prevalent until the 1990s, a large proportion of the Indian population is in the age group of 20-34 years. This age group is the most appropriate target for beer marketers. This population trend will give a further boost to the growth of beer consumption in India.

Technological Beer industry is not technology specific. As the UB group is one of the oldest players in the market, they have achieved economies of scale. Thus, technological factor is not of great importance for the beer market.

Analysis Porter’s Five Forces Model

Threat of new Entrants – Low

In India, beer industry is growing with 11% CAGR making it attractive for new players. Strong brands like Kingfisher and Hayward’s which are already established and have strong brand recall will make it tough for new entrants and they are expected to struggle to expand their consumer base as they try to penetrate the beer market in India.

Foreign brewers have been eyeing the Indian market for some years now since India is widely acknowledged to be the last untapped big growth market. Several international brewers have built brand associations and are marketing their brands aggressively through various point-of- sale promotions throughout their distribution networks. But with strong players in the market any new entrant will face problems of:

• Economies of scale – For example benefit associated with bulk purchases and sales – create high barriers to the national and global markets
• Cost of entry – For example investment in technology, costs associated with sales
• Distribution channel For example ease of access for competitors
• Government Legislations -Introduction of new laws might weaken have adverse effects
• Differentiation – For example certain brands that cannot be copied
• Supplier power – Possibility of forward integration by supplier

Bargaining power of suppliers – Low

Due to increasing costs of raw material and decreasing cost of barley suppliers, bargaining power of suppliers was high but by doing backward integration, done by acquiring Maltex Malsters Ltd. and shifting their production of beer on malt the company has achieved a hold on its raw material and considerably reduced supplier strength and dependency. Company has also entered into collaboration with Government of Punjab and Haryana for supply of its raw material.

Bargaining power of buyers – Moderate

This factor measures the extent to which customers are successful in forcing prices down, or securing high quality or more service at the same price. Customers tend to be powerful when the quantities they purchase form a large portion of the seller’s total sales.

Buyers do have a very clear understanding about the quality and as there are very few players in the market the customer cannot influence the price in any significant way. But while this is true a decline in consumable income shifts consumer preferences away from premium brands to lower-priced brands since the switching costs is low. Due to this the bargaining power of buyer tends to increase.

Threat of substitutes – Moderate

India is predominantly a spirits market and beer has traditionally been a minority preference for those who consume beverage alcohol.

Therefore substitutes are the biggest threat as preference for beer among alcohol beverage drinkers is less but also the low penetration in beer consumption in comparison to international levels offers the potential for substantial and sustainable growth in demand for beer in India for years to come.

Rivalry amongst Competitors – Low to Moderate

Rivalry is the means through which competitors fight for position by using tactics such as price, competition, advertisement battles, and new product introduction, to lower the profits of competitors in the industry.

As stated above CAGR of 11% is expected for beer in the next 5 years due to which many MNCs are eyeing the Indian market. Currently the major rivals for Kingfisher Premium are Budweiser, Carlsberg, Foster and Tiger and for Kingfisher Strong it’s Hayward 2000, Hayward 5000, Palone. SABMiller who came to India by acquiring small breweries and has made its hold as best-selling strong beer brand but still Kingfisher has managed to remain the largest-selling strong beer brand with 29% market share. There are also some small local players hat are in the market but are not much of a threat to Kingfisher.

Strategic Fit of Mist With United Breweries Group

The UB Group (United Breweries Group) is a multi-faceted conglomerate with business interests in Beverage Alcohol, Pharmaceuticals, Media, International Trading, Aviation, Fertilizer, Research & Development, and Infrastructure Development with a major focus on the brewery (beer) and alcoholic beverages industry most of which is marketed under the Kingfisher brand. UB Group is already planning to venture into the mineral water segment via the Kingfisher Himalayan Water Brand.

Thus strategically thinking Mist will be a perfect fit in the UB Group’s expansion plans. In fact introduction of a soft drink will make UB Group present in all versions of drinks and will be a wonderful way to reach out to customers who admire the Kingfisher brand but do not consume alcoholic beverages. Launching Mist will be a form of line extension and will help it respond to customer’s needs favorably. If we see the attributes of Mist, i. e. adventure, energy, fun and the “Hat Ke” attitude; it is very much in sync with the existing brand image of UB Group.

Mist being a soft drink, it is very necessary to ensure proper distribution of the product. This is where UB Group can use its core competency of having a strong distribution network and bank upon its reputation regarding the stringent quality control measures it follows. Also if we look at the soft drink market, the only direct competitor of Mist is Mountain Dew and the market for soft drinks providing the set of benefits as Mist is in a growth stage. That makes it a perfect moment to introduce a drink like Mist under the Kingfisher brand name.

Considering the sync between Mist attributes and Kingfisher’s brand image, we can also use the events held by the UB Group like the Derby, Kingfisher Calendar, IPL matches , functions like the Incredible India Party held last year at Cannes and the TV channel NDTV Good Times to increase awareness about Mist. It can make use of the cricket and Bollywood stars already associated with Kingfisher brand to endorse the product and help build a strong connect with its loyal customers. Added to that serving Mist in the Kingfisher Airlines will be a reat way of making future customers try out the drink.

Product Introduction

Mist is a soft drink that is being launched by UB group under Kingfisher brand. It is a citrus flavoured drink and unlike other soft drinks, it is more carbonated and has high levels of caffeine.

Marketing Strategy Segmentation

Demographic Segmentation

1. Age

A consumer needs and wants change with age. Hence this segmentation is important for this product. On the basis of age, we can divide the population into the following categories

• 6-25 years
• Teenagers
• 25 years and above

2. Gender

This is an important segmentation since both genders behave and respond differently to same situations.

3. Geographic Segmentation

This segment primarily refers to the location of the segments. For our product there will be three segments.

• Urban
• Semi-Urban
• Rural

4 Psychographic Segmentation

Here different groups are identified on the basis of personality traits, lifestyle or values. The following segments can be formed:

• Excitement, Adventure seeking, Risk lovers
• Health Conscious
• Rebellious
• Fashsionable and stylish

For our product, we can begin with demographic segmentation. These segments would be further divided using psychographic segmentation. The product is soft drink, but we will not go in for mass marketing and rather target based on psychographic segmentation. The target would also be different from those of already existing soft drinks.

Targeting

Evaluating the above segments on the parameters like Measurable, Substantial, Accessible, Differentiable and Actionable, the target segment for MIST would be: Individuals (both genders) in age range 15-29 in urban areas (this is because the promotional activities would be focused on urban areas only).

Based on market research data, we decided to target people who embrace excitement, adventure and fun. Reasons for choosing this target segment are:

• Our market research showed us that there were primarily five different target groups in the market. There was considerable presence of other soft drinks in the other target groups.
• Also in urban areas there are very few individuals in the age group 15-29 years who have not heard of Kingfisher; hence this would be our target age group.

This segment in India is substantial and would be profitable.

Kingfisher already has large distribution networks for selling its other products in urban areas. Hence there would be little cost of adding distribution channels.

It is also easier to involve people from the aforementioned age group in various promotional activities and also they are easily accessible through internet. So it would be easier reaching across to them.

Positioning

• Salient Attributes
• Offer from the Kingfisher brand
• Higher price for perception of premium quality and difference
• Available only in stylised cans
• Invigorating effect due to higher caffeine
• Tingling taste and flavor
• Selective availability in retail outlets, pubs, clubs, discos and other socializing places
• Values
• Adventure Seeking
• Thrill
• Different from competition
• Aspiration for youngsters to be associated with Kingfisher brand.

Competition

Mountain Dew

As compared to Mountain Dew, we will position MIST as an exclusive brand and it will only be available through selective outlets.

We are going for value-based offering that is premium in nature due to higher quality and reflects the values of aspiration for Kingfisher.

Coke and Pepsi

Both Coke and Pepsi are brands that differentiate themselves on the basis on the endorsements eg. Pepsi targets the youth market through endorsements from young celebrities. Price is not a discriminating factor between these two. We shall charge a higher price as compared to Coke and Pepsi and put forth quality as a prime concern while manufacturing MIST.

This should help us differentiating from Coke and Pepsi since they have had troubles in the past regarding their quality.

Marketing Mix

Product

• Functional
• Great taste
• Invigorating effect due to higher caffeine
• Available in Stylised cans

Pricing

Competitor based pricing

The price of a can of Mountain Dew and other soft drinks is Rs. 20. We may choose to price it higher than this since we are not going in for mass marketing but rather selecting a specific target segment.

Cost Based pricing

Cost Based pricing is integral to establish the lowest point of a new product’s price range.

By accurately analyzing cost per unit and taking into account a margin that corresponds to the lowest satisfactory return on investment, companies can define a new product’s floor price. If the market cannot support this price, then the company must reconsider if the product is feasible. If we take the major cost components as manufacturing, advertising and distribution we can come to a rough estimate of the variable cost of Mist. This will not include the costs associated with machinery installation, R & D of the product and other associated capital expenses. This shall be collected through contribution per can.

• Using estimates for the major variable cost components we take:
• Advertising Cost per can – Rs. 8 – 10
• Manufacturing Cost per can – Rs. 4-5
• Administrative Costs and other overheads per can – Rs. 2-3
• Distribution Costs – estimated to be Rs. 1 per level

Therefore the total cost of producing one can comes out approximately to be Rs. 17-19.

Value Based Pricing

While some benefits have values that can be readily quantified, others such as brand reputation and premium are more difficult to measure and must be probed using market research. Since we are positioning Mist as a premium brand it should be priced higher than its direct competitor (in this case Mountain Dew) in order for the target group to it as a premium brand. Since a can of a cola costs Rs. 0 then we will price it at Rs. 24 (we are trying simultaneously to take advantage of bundles of five pricing and have the customers perceive it as a premium brand). As shown by the market research, customers are willing to pay more for a product like Mist. Moreover, considering the aspiration value of the product and the parent company, we have decided to follow value based pricing.

Promotion

According to the positioning of the Mist, a promotional campaign will be designed to create awareness and pull in the market. AIDA model will be followed for the promotional campaign. The steps taken in each stage will make consumers to “Think, feel and do”.

What is Marketing : The word Marketing in narrow sense is used as the sum up of selling process. Now a days marketing is considered as managing profitable customer relationships. Hence, we define marketing as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Here the figure

1. 1 presents a simple five step model of the marketing process. In the first four steps companies work to understand consumers, create customer value and build strong customer relationships.

In the final step companies reach the reward of creating superior customer value. By creating value for customers , they in turn capture value from customers in the form of sales, profits, and long term customer equity. In the face of today’s changing business , to success , this expand model of marketing is very much helpful. All steps of this marketing process is important. As a first step, marketers need to understand customers needs and wants and the market place within which they operate.

Once its fully understood , consumers and marketplace, Marketing management design a customer driven marketing strategy. In the next steps, marketers construct a marketing program that actually deliver superior value through building profitable customer relationships by capturing value from customers. Here we will focus on customer driven marketing strategy of launching a product or service.

Customer – driven marketing strategy and marketing management orientations that guide marketing strategy: To design a winning marketing strategy , the company must first decide who it will serve.

It does this by dividing the market into segments of customers(market segmentation) and selecting which segments it will cultivate(target marketing). Next , the company must decide how it will serve targeted customers(how it will differentiate and position itself in the marketplace). Marketing management wants to design strategies that will build profitable relationships with target consumers. There are five alternative concepts under which organizations design and carry out their marketing strategies. These are :-

Production concept:

• Product concept
• Selling concept
• Marketing concept
• Social marketing concept roduction concept

The philosophy that consumers will favor products that are available and highly affordable, and that management should therefore focus on improving production and distribution efficiency product concept: The idea that C’l will favor products that offer the most quality, performance and features, and that the organisation should therefore, devote its energy to making continuous produce improve merits selling concept: The idea that consumers will not buy enough of the organisation’s products unless the organisation undertakes large-scale selling and promotion effort arketing concept .The marketing management philosophy which holds that achieving organizational goals depends on determining the needs and wants qf target markets and delivering the desired satisfactions more effectively and efficiently than competitors do. societal marketing concept: The idea that the organization should determine the need, want and interests of target markets and deliver the desired satisfactions more effectively and efficiently than competitors in a ay that maintains or improves the consumer’s and society’s well-being.

There is no hard and fast rule to strictly follow any particular concept. These concept are followed by different companies as their convenience as their business mission. This may vary for different companies beside some companies may follow the combination of these orientation. Marketing mix The set of controllabletactic-id marketing tools- product, price, place and promotion – that tlivfirm blends to producethe response it wants in che target market ‘functional chewing and bubble gums’

Product

Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want. It includes physical objects, persons organizations and ideas, price. The amount of money charged for a product or service, or the sum of the values that consumers exchange for the benefits of having or using the product or service. place. All the company activities make the product or service available to target customers. promotion Activities that communicate the product or service and its ‘merits to target customers a persuade them to buy.

SWOT Analysis

The SWOT analysis section draws from the market audit. It is a brief list of the critical success factors in the market, and rates strengths and weaknesses against the competition. The SWOT analysis should include costs and other non marketing variables. The outstanding opportunities and threats should he given. If plans depend upon assumptions about the market, the economy or the competition. SWOT analysis draws the critical strengths, weaknesses, opportunities and threats (SWOT) from the strategic audit.

The audit contains a wealth of data of differing importance and reliability. SWOT analysis distils these data to show the critical items from the internal and external audit. The number of items is small for forceful communications, and they show where a business should focus its attention. The STP Process The growing use of the STP process has occurred as a direct result of the prevalence of mature markets, the greater diversity in customer needs, and the ability to reach specialized or niche segments.

As such marketers are increasingly segmenting markets and identifying attractive segments (i. e. who to focus on and why? ), in order to identify new product opportunities, develop suitable positioning and communications strategies (i. e. what message to communicate), and effectively allocate resources to key marketing activities (i. e. how much should we spend and where? ). Organizations will often commission segmentation research when they want to re-scope their marketing strategy, investigate a declining brand, launch a new product, or restructure their pricing policy.

Organizations operating in highly dynamic environments seek to conduct segmentation research at regular intervals, to keep in touch with changes in the marketplace. STP refers to the three activities segmentation, targeting, and positioning Key benefits of the STP process include:

• Enhancing a company’s competitive position by providing direction and focus for marketing strategies such as targeted advertising, new product development, and brand differentiation. For example, Coca-Cola identified through market research that its Diet Coke brand (also marketed as Coca-Cola Lite) was egarded as ‘girly’ and ‘feminine’ by male consumers. As a direct result the company developed a new product, branded Coke Zero, which is targeted at the health-conscious male segment of the soft drinks market.
• Examining and identifying growth opportunities in the market through the identification of new customers, growth segments, or new product uses. For example Arm & Hammer was able to attract new customers when existing consumers identified new uses for their baking soda (Christensen, Cook, and Hall, 2005).

Lucozade also changed the positioning and targeting from its original marketing strategy positioned for sick children and rebranded to target athletes as an energy drink.

• More effective and efficient matching of company resources to targeted market segments promises the greatest return on marketing investment (ROMI).

For example, financial institutions like HSBC and Barclays and large retailing multinationals such as Tesco and ASDA Wal-Mart are utilizing data-informed segmentation strategies to effectively target direct marketing messages and rewards to customers they have classified as offering long-term value to the company, i. . they are profitable customers. Market Create values for customers and build customer relationship An expanded model of the marketing process Marketing Strategy Target consumers are at the centre of the marketing strategy. The company identifies the total market, divides it into smaller segments, selects the most promising segments and focuses on serving them. It designs a marketing mix using mechanisms under its control: product, price, place and promotion.

The company engages in marketing analysis, planning, implementation and control to find the best marketing mix and to take action. The company uses these activities to enable it to watch and adapt to the marketing environment. We will now look briefly at e;ieh factor in the marketing process and say where it is developed elsewhere in this book. The Concept of Market Segmentation Market segmentation is the division of a market into different groups of customers with distinctly similar needs and product/service requirements.

Or to put it another way, market segmentation is the division of a mass market into identifiable and distinct groups or segments, each of which have common characteristics and needs and display similar responses to marketing actions. Market segmentation was first defined as ‘a condition of growth when core markets have already been developed on a generalised basis to the point where additional promotional expenditures are yielding diminishing returns’ (Smith, 1956). There is now widespread agreement that they form an important foundation for successful marketing strategies and activities (Wind, 1978; Hooley and Saunders, 1993).

The purpose of market segmentation is to leverage scarce resources; in other words, to ensure that the elements of the marketing mix, price, distribution, products and promotion, are designed to meet particular needs of different customer groups. Since companies have finite resources it is not possible to produce all possible products for all the people, all of the time. The best that can be aimed for is to provide selected offerings for selected groups of people, most of the time.

This process allows organizations to focus on specific customers’ needs, in the most efficient and effective way. As Beane and Ennis (1987) eloquently commented, ‘a company with limited resources needs to pick only the best opportunities to pursue’. The market segmentation concept is related to product differentiation. If you aim at different market segments, you might adapt different variations of your offering to satisfy those segments, and equally if you adapt different versions of your offering, this may appeal to different market segments.

Since there is less competition, your approach is less likely to be copied and so either approach will do. Market consists of buyers and buyers differ in one or more ways. They may differ in their wants ,resources, locations, buying attitudes and buying practices. Through market segmentation , companies divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products services that match their unique needs.

In this section we discuss four important segmentation topics: segmenting consumer markets, segmenting business markets, segmenting international markets, and requirements for effective segmentation. Segmenting Consumer Markets There is no single way to segment a market. A marketer has to try different segmentation variables, alone and in combination, to find the best way to view the market structures.

By going after segments instead of the whole market, companies can deliver the just the right value proposition to each segment served and capture more value in return. Requirements for Effective Segmentation: Clearly, there are many ways to segment a market, but not all segmentations are effective. For example, buyers of table salt could be divided into blond and brunette customers. Target Markets The second important part of the STP process is to determine which, if any, of the segments uncovered should be targeted and made the focus of a comprehensive marketing programme. Ultimately, managerial discretion and judgement determines which markets are selected and exploited and which others are ignored.

Kotler (1984) suggested that in order for market segmentation to be effective, all segments must be: • Distinct—is each segment clearly different from other segments? If so, different marketing mixes, to use the traditional approach to marketing, will be necessary.

Accessible—can buyers be reached through appropriate promotional programmes and distribution channels? • Measurable—is the segment easy to identify and measure?

Profitable—is the segment sufficiently large to provide a stream of constant future revenues and profits? This approach to the evaluation of market segments is often referred to by the DAMP acronym, making it easier to remember.

Another approach to evaluating market segments uses a rating approach for different segment attractiveness factors, such as market growth, segment profitability, segment size, competitive intensity within the segment, and the cyclical nature of the industry (e. g. whether or not the business is seasonal, e. g. retailing, or dependent on government political cycles as some large-scale defence contracts are). Each of these segment attractiveness factors is rated on a scale of 0–10 and loosely categorized in the high, medium, or low columns, based on either set criteria, or subjective criteria, dependent on the availability of market and customer data and the approach adopted by the managers undertaking the segmentation programme. [pic] ? Six steps in market segmentation, targeting and positioning

Differentiation & Positioning Strategies Marketers can follow several positioning . strategies. These strategies use associations to change consumers’ perception of products. Product attrilmtes position many technical products. The positioning of Ericssons EH237 mobile phone is its Low weight and number $ features, while much of BMW’s advertising promotes individual technical items- like fresh air filters. In the exclusive watch market Breitling. Baume & Mercier and Audemars Piguet’s positioning are on their mechanical movements. Some of their designs leave the mechanisms exposed and one ad argues ‘Since 1735 there has never been a quartz Rlanepain. And there never will be. ‘

The benefits they offer or the needs they fill position many products – Crest toothpaste reduces cavities. Aim tastes good and Macleans Sensitive relieves the pain of sensitive teeth. In the confectionery industry, Italian Gaci and Ferrero Rocher are gifts, while Mars and Snickers bars satisfy hunger. Huhtamaki is Finland’s largest industrial company but LEAF, its confectionery division, is only ten in size worldwide. It developed competitive advantage Marketing Services to remain flexible has also led to firms hiring services that provide use without ownership. Finally, an increasing number of firms are keen to focus on their core competences.

They are beginning to contract out non-core activities, such as warehousing and transportation, thus stimulating the growth of specialist business service organizations. All these developments have, in turn, led to a growing interest in the special problems of marketing services. Brand Positioning: Marketers need to position their brands clearly in target customers minds. They can position brands at any of three levels. Branding poses challenging decision. *Sample of marketing strategy of stock market consulting firm Finance Hauler Lead life less tension Our company is an service providing company. The goal of our company is to provide service , provide information about stock market in exchange of a particular fee. Ours is an unique company, so far.

We are targeting specific segments in the consumers and business markets, taking the opportunity of current situation of stock market. The primary objective is to serve in Rajshahi, shaheb bazaar, then it will be scattered in the whole country, where broker houses stands. In business there is a chance of loss and also profit, we will try to make profit from the first year. Question may arise why this type of consultancy firm? The answer is the present condition of stock market. The main reason behind this is lack of proper knowledge about stock market. Investors doesnt know where to invest and when to invest. Our duty is to make him clear. As Bangladesh is a capital deficiency country, so the capital we have need to invest properly.

As we are the student of Finance & Banking , our duty is to analyze the stock market, that’s why we have planned to open such type of firm. At present some brokerage house & ICB some provide information to their investors un officially. These informations are not so profitable. But there is no specialized firm who provide proper information about stock market, that’s why we intended to open such a consulting firm. By describing the targeted segments in detail, it can be said that our firm will satisfy the customers need, want, and their demand , as we have planned to scatter it in the every city of Bangladesh. Bangladesh is a capital defficiency country.

As peoples save less consumption more , so we need to invest the savings into right sector, We will provide information to invest in the profitable sector. So at a time the economy of Bangladesh will be increased. The standard of living of common people will be raised. The growth and development of our country will be accelerated. As we will open a firm we need specialised employees by recruiting whom we will help them to lead a better life. Features of our service : A product or service need three characteristics 1. Unique 2. Price 3. Availability According to these characteristics our service or product is perfect. Its unique.

By our effort and efficiency it will be available in the whole country after a year or two year, As it is a era of globalization , anyone can get our service by using internet or telephone service from anywhere. We will take a minimum fee for registration and membership which will be easy to pay by the clients. Marketing planning aims and objectives Behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lie the “corporate mission,” which in turn provides the context for these corporate objectives. In a sales-oriented organization, the marketing planning function designs incentive pay plans to not only motivate and reward frontline staff fairly but also to align marketing activities with corporate mission.

This “corporate mission” can be thought of as a definition of what the organization is, of what it does: “Our business is …”. This definition should not be too narrow, or it will constrict the development of the organization; a too rigorous concentration on the view that “We are in the business of making meat-scales,” as IBM was during the early 1900s, might have limited its subsequent development into other areas. On the other hand, it should not be too wide or it will become meaningless; “We want to make a profit” is not too helpful in developing specific plans. Abell suggested that the definition should cover three dimensions: “customer groups” to be served, “customer needs” to be served, and “technologies” to be used.

Thus, the definition of IBM’s “corporate mission” in the 1940s might well have been: “We are in the business of handling accounting information [customer need] for the larger US organizations [customer group] by means of punched cards [technology]. ” Perhaps the most important factor in successful marketing is the “corporate vision. ” Surprisingly, it is largely neglected by marketing textbooks, although not by the popular exponents of corporate strategy – indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their “Superordinate Goals. ” “In Search of Excellence” said: “Nothing drives progress like the imagination. The idea precedes the deed. If the organization in general, and its chief executive in particular, has a strong vision of where its future lies, then there is a good chance that the organization will achieve a strong position in its markets (and attain that future). This will be not least because its strategies will be consistent and will be supported by its staff at all levels. In this context, all of IBM’s marketing activities were underpinned by its philosophy of “customer service,” a vision originally promoted by the charismatic Watson dynasty. The emphasis at this stage is on obtaining a complete and accurate picture.

Needs and corresponding features/benefits of Finance Hauler :

• Targeted segment
• Customer need
• Corresponding feature
• Professionals
• Time saving and Holiday scheme

Usually professionals are busy so they need time less consuming scheme and information, (consumer market) and in holiday they will get informations. . Students have less money so they need fast moving but less price share information, as | |Students |. Seminar and money saving |they know less they will get free seminar discussion. |(consumer market) |scheme . Lazy money investment scheme . They need to secure their retirement pension money, from which they will get fast profit Retired person | |and stable market. |(consumer market) . Special scheme . Women are totally unaware about stock market but they can make a great contribution in Women country economy by investing their small savings into stock market.

We have a special | |(consumer market) | |scheme and care for women. | Competitive review: As our firm is new and unique, so far no competitor in our sector. This type of business is unavailable in our country. At future there may be competitor but now no one. Distribution review : Distribution review needs distribution channels for a product. As our service is unique so there is no better distribution channel. We have to advertise through television , radio , news paper etc. And most importantly through brokerage house. We will distribute handbills and posters.

SWOT analysis: Strengths :

• Our strengths depends on the followings
• Innovative service
• Security

Pricing Weakness :

Weakness are internal elements that may interfere with the company’s ability to achieve its objectives. The weakness of our firm is only the brand awareness.

Opportunities :

• Increased public demand
• Lower technology cost.

Threats :

At present no competitor so far but near future there may be competitor then there will rise our threat.

Short run objectives :

• First we will open our firm in Rajshahi to provide service.
• Try to increase member
• Profit maximization

Long run objectives :

• Scatter our services all over the country
• Wealth maximization Issues : In relation to the service launch; issue is the ability to establish a well regarded brand name linked to a meaningful positioning.

We must invest heavily in marketing to create a memorable and distinctive brand image projecting innovation, quality and value. Marketing Research & Development: In this segment how marketing research will be used to support development, implementation and evaluation of strategies and action programs. As our service on stock market, we mainly focus on capital market, economic conditions, performance of companies’ research & development. Action programs: Action programs should be coordinated with the resources and activities of other services. The first action is to know about the capital market to the people. Then make a positive concept about stock market and how to gain in the market in short run and long run. Budgets:

Budgets serve two main purposes: one is to project profitability and another to help managers plan for expenditures ,scheduling and operations related to each action program. In our services We need a flat for our office purchasing furniture, equipments and other elements.

Controls:

Controls help management assess results after the plan is implemented identify any problems or performance variations and initiate corrective action. We are developing contingency plans to address fast-moving, new technology and new competition.  Build profitable relationships and create customer delight Construct an integrated marketing program that delivers superior value Design a customer-driven marketing strategy

Understand the market place and customer needs and wants Customer relationship management: build strong relationships with chosen customers Product and service design: build strong brands Select customers to serve market segmentation and targeting Research customers and the marketplace Pricing: create real value Manage marketing information and customer data Decide on a value proposition: differentiation and positioning Customer relationship management build strong relationships with chosen customers Distribution: manage demand and supply chains Partner relationship management: build strong relationships with marketing partners Promotion: communicate the value proposition

Main competitors (mobile phone manufacturers) also their largest buyers Does not offer its own SO SOOT Analysts: (count’) Opportunities Growing demand of smart phones from India Increasing mobile advertising industry Demand of quality products from Samsung Obtaining patents through acquisitions Threats Rapid technological transformation Decrease of smart phone price Breached patents Price wars Objectives: 1. Increase Smartened Sales Volume: Increase 35% sales volume during the next year in India market.

As the Indian mobile phone market still not saturated, and the rapid growth in smartened user ratio. With the aid of our action programs, help our company to explore the new entertainment related market; we are targeting a 35% sales volume increase during the next year in India market. 2. Increase Smartened Market Share: Increase 10% market share during the next year in India market. Even Samsung already having leading market share in India (32%, almost one out of three smart market share by put in more resource in sale promotion. . Introduce new product: Samsung Galaxy Core E This product line captures the entry to low-end smartened market, which does not focus on the high end features. At the same time, promotions about the bundled entertainment feature and content also create an advantage over other smart phones. 4) Increase Customer Retention and Satisfaction Increasing customer retention and satisfaction is very important in creative long term repeat purchase customers.

By increase showroom & service centre and improve service quality (for example faster average service time, free gift or replacement unit when service level can not meet). Marketing Strategy: For the market segmentation of Samsung – As a globalization drive its operations in India since 1995. They provide of Consumer Electronics, IT and Telecoms products in India market. While it is the largest mobile handset brand in India, it leads in the smart phone segment in India. When Samsung entered India, it realized that Indian consumers were not familiar with the company.

So, in order to establish itself in the Indian consumers ‘mind, Samsung launched corporate advertisements highlighting its technologically superior goods. Samsung divides the market into different groups based on variables such as age, gender, income, occupation, education, religion, social class, lifestyle and nationality n India. Know the consumer needs and buying behaviors even though they are in different personality traits, knowledge, attitudes, loyalty status and responses to a product. A business cannot be successful unless it creates prosperity and opportunity for others.

Therefore, SAMSUNG is dedicated to being a socially and environmentally responsible corporate citizen in every community where they operate around the globe. For the market targeting – Samsung smartened are much different than regular feature phones. These phones are built on mobile operating system based on regarded the whole market with one offer to focuses on common needs rather than what’s different. Which is involves tailoring brands and promotion to the needs and wants of local customer groups.

With the changes happening all over the world changes in a mobile phone is must. The world is moving fast and so has technology to. The invention of a smartened is the best thing that could have been done to human kind. Smartness India market is huge. All over people will using this. For the differentiation and positioning – Its product range covered all the categories in the consumer electronics and home appliances. The wide product range of Samsung was one of main reasons for its success in the Indian market. Samsung significant role in Samsung success.

When iPhone was introduced in 2007 it created waves in the mobile industry. It was the first smart phone which exceptional design and amazing features. Many features became industry standard which can now be found in the new generation of phones manufactured by HTC, Nokia, BlackBerry etc.

Some of the product trends started by Apple are multi-touch screen, sleek design, full operating system and a real web browser, touch QWERTY keyboard, touch scrolling, etc.

In most countries Apple sold a locked iPhone with a 2 year contract. For example in US, UK and many other countries Apple had a deal with single telecom operator. This meant that customers could not use iPhone on any other network than the specified network. But soon customers found their way out to unlock iPhone and use it on any other network. This resulted in iPhone to penetrate many countries where iPhone was not launched formally like India, Pakistan, Bangladesh, etc.

Apple under the shrewd leadership of Steve Jobs was able to capture a significant share in the market. Overall, over 10 million iPhones have been sold. In US, Apple has the second highest market share in the smart phone category. The success of iPhone can be attributed to the extreme innovation at Apple research and the clever marketing techniques used. By keeping an independent services contract with Telecom companies Apple was able to make huge profits even after iPhone was sold. Telecom companies like AT&T pay Apple huge amount of money for exclusive right to provide services on iPhone.

Most products have a limited lifep. New products must, therefore, be developed keeping cost in mind. Innovation and change are good but managing costs and ensuring payback are equally important. A product development strategy may be appropriate if he firm’s strength’s are related to its specific customers rather than to the specific product itself. Similar to the case of new market development new product development carries more risk that simply attempting to increase market share.

The final strategy that a business can use to achieve growth is diversification which is the strategy of pursuing new markets with new products. Diversification can be classified as horizontal, vertical and conglomerate. Horizontal diversification refers to the development of activities which are complementary to or competitive with the organisation’s existing activities. It is often difficult to distinguish between horizontal diversification and market penetration because classification depends on how narrowly product boundaries are drawn.

Nestle’s take-over of Rowntree Mackintosh in 1988 is an example of horizontal diversification. Nestle is one of the world’s largest food companies, but it’s share of the chocolate confectionery market only amounted to some 35t in 1987. Rowntree held around 26 percent and had a particularly strong range of products such as KitKat. Nestle’s acquisition enhanced it’s UK market position and reduced it’s reliance on sales of solid chocolate bars, demand for which is growing more slowly than demand for chocolate coated products such as Mars Bars. Nestle’s acquisition could be viewed either as horizontal diversification into a broader range of confectionery products or increased penetration of the UK confectionery market depending on where the industry boundary is drawn.

Vertical integration refers to the development of activities which involve the preceding or succeeding stages in the organisation’s production process. Backward or upstream vertical integration takes place when the organisation engages in an activity related to the proceeding stage in it’s production process. Forward or downstream vertical integration takes place when the organisation engages in an activity related to a succeeding stage its production process. Obvious examples of vertical diversification include the brewers’ control of public houses and the oil industry’s combination of exploration, refining and distribution.

Conglomerate diversification refers to the situation where at face value the new activity of the organisation seems to bear little or no relation to it’s existing products or markets. For example, Hanson Trust’s interests include engineering, batteries, building products and cigarettes. Diversification is the most risky of the four growth strategies since it requires both product and Market development and may be outside the core competences of the firm. In fact, this quadrant of the matrix has been referred to by some as the ‘suicide cell’. However, diversification may be a reasonable choice if the high risk is compensated by the chance of a high rate of return. Other advantages of diversification include the potential to gain a foothold in an attractive industry and the reduction of overall business portfolio risk.

The challenge of any new product is whether the market is ready to accept them. Through the formation and encouragement of trends, there are products that have successfully encouraged consumer patronage, thus, the product life cycle takes off at an impressive rate. When it comes to a product life cycle, as can be seen in the final stage, there are products that go through the final stage of decline whereas the others, after a period of maturity, continue to grow and develop thereby establishing further successes.

This is why not all products, despite its initial success in the market are able to hang on; this is because new products will keep on entering the market thereby displacing the ones that seem dated based on the times (Yamada, et al. , 2002). The conceptualization of any product starts with the identification of the core benefit; this determines what the customer is really buying, hence, the product is founded on the identified customer need. From this, the identified core benefit is translated into an actual product.

After the basic product is made, the expected product is formed. From the expected product comes the augmented product; afterwards, the potential product takes the development to the finish line such as, for example, including radio features, GPS and WAP. Hence, a product develops based on these levels (Yamada, et al. , 2002). When it comes to the adoption and the diffusion of new products, these levels of product development takes more turns.

This time, the product is expected to “revolutionize”, and this can be done through the diffusion approach of innovation “which is communicated through certain channels over time among the members of the social system” (Rogers, 1976). Innovation therefore plays an important role in the marketing of a new product especially as to how companies are able to market it. A new product’s successful diffusion is therefore based on how the product is differentiated from the other products that are available especially as to how this product is able to present or provide functions that have an appeal to the consumers.

One of the important aspects of diffusion, as mentioned by Rogers (1976), is time which reflects how the consumers may perceive certain products. In the aspect of technology where consumers are constantly faced with new innovations, the success of a new product relies on how its innovation is relevant to the needs of the current market. An example is how portable MP3 players have become successful in the past years, especially with the iPod products.

Prior to the iPod, portable players include the Walkman, the portable CD player, and the midi-player; the midi-player, albeit innovative in some ways and can be regarded as almost similar in concept as the portable MP3s, did not garner enough success to stay in the market. However, the iPod would become a tremendous success as it would redefine portable music players, and from there, other companies have followed suit and started to compete with the iPod.

However, innovation is not enough in the adoption and the diffusion of new products; trends apparently play an important role. The emergence of trends take effect through information, involvement and knowledge, which can be done through communication, publicity, advertisement, tie-up with the media, and sample offerings, among others (Yamada, et al. , 2002). From this, the marketing aspect plays a critical role among new products especially as these products are just about to enter a market that is already steeped in competition.

The strategy therefore lies in the successful and smart approaches as to how to put a product “out there’ not only through its merit but also the amount of buzz it gets in the society, especially in the media. Conclusion Marketing can be considered to make up a significant bulk of any company because this is how any firm is able to perform successfully in the market and in the industry. By means of understanding marketing, companies are able to identify its strengths and weaknesses thereby addressing the processes and defining its strategies that can contribute to its organizational and product success.

Hence, the main point of marketing is competitiveness, both in terms of its market advantage and its impact to the many functional competencies of any organization.

References

Baines, P. & Chansarkar. B. 2002. Introducing Marketing Research. John Wiley & Sons, New York. Hills, G. 1994. Marketing and Entrepreneurship: Research Ideas and Opportunities. Quorum Books, Westport, CT. Iacobuccid, D. 2001. ‘Introduction’. In. D. Iacobuccid, ed. Kellogg on Marketing, Wiley, New York.

Generation: Bangladesh having monsoon weather most of the time our climate Is hot and burning. So the use of lotion In that climate Is quite Irrelevant. In winter the skin looses the smoothness thus It Is mandatory to use body lotion. But if we try It In summer then it will be a disaster because of sunburn the skin will become dark and shady. But it is necessary to keep the moisture of body in summer also but due to sunburn we can’t do it. Togged rid of this problem, Advanced Chemicals Limited (ACE) introduces the body cooling lotion will moisture the body and also keep the skin safe room sunburn.

Body cooling lotion uses menthol which keeps the whole body cool and gives energy to the working people to work under heat. Besides that, who are beauty conscious can get the fresh look and moisture skin by using this body cooling lotion. And the most Important thing body cooling lotion also deals with physical side like by using this lotion people can get rid from the problem of sweating dehydration, Itching, and allergy. 3. Core Values The human core or internal body temperature is normally maintained to quite close tolerances regardless of weather, clothing, bathing, or cosmetics on the skin .

Body lolling lotion temporarily affects the temperature of the skin, especially the outermost layer of epidermis. In general, this lotion will balance the temperature by acting as a blanket and possibly by blocking perspiration, which cools the skin. Under conditions of sickness or injury, there may be a malfunction of the body’s temperature control system. Like other lotions body cooling lotion is not only responsible for body moisture but also has a twist of menthol which will create a cool refreshing feeling all day long which secure them from sweating and dehydration and Instantly refreshes skin, leaving It feeling fresh and clean.

Sun blocks never provide superior protection from the sun. Because we are always reluctant to use lotion in summer because using lotion can dark our skin so body cooling lotion act as a crucial part in summer . People need to feel fresh and calm in this weather. For this reason a perfect cooling body lotion is needed for both man and woman. Besides that body cooling lotion is waterproof, sweat proof and water resistant. The other core values are no harmful chemicals, no allergy, no side effects, and superior quality. 4.

Situation Analysis l) Market situation: ACE Is one of the leading antiseptic and personal care product manufacturing many in Bangladesh. As Sac’s products are perceived very positively by customers, is body lotion. In the present market, Square does not have any body cooling lotion. Square only have “cool” body spray which will keep the body cold with the distinctive and masculine fragrance. Moreover, cool is segmented only for male users. So, there will be huge market for female body cooling lotion. On the other side, another competitor Milliner is doing monopolistic and exclusive business in the body lotion market.

Because mostly available body lotion manufactured by Milliner “Baseline”, Dove” and “Fair and Lovely-body lotion” in the local market. It has been identified that, few years back ACE has been launched soap under both of the segment which are health soap and beauty soap. But they were unable to capture the maximum market share than other companies in both of the segment. The reason was that, they were incapable to compete with the dominant brand Lug under beauty soap category and with Delete and Lifebuoy under health soap category. Furthermore, they were incapable because of their inconsistency in distribution and lack of product uniqueness.

That is why, the company has come up with a new idea and they want to munch a new kind of body cooling lotion which will contain both antiseptic quality and beauty care quality. It) Demographic: Consumer needs and wants change with age. Although every class of people are concerned about their skin but young people are more concerned about their skin and beauty. So sometimes it’s very crucial for them to use a comfortable product which can protect their skin, increase moisture, and protect sunburn. Body cooling lotion is the perfect solution for them.

Dividing a market in different groups based on sex, has long been common for many products like cosmetics. According to gender it s more important to use separate lotion. Body cooling lotion is not same for the male and female. So according to gender body cooling lotion should be used. Another important factor under demographic is age. Product can also differ according to age. A baby cannot use the same lotion which a young and adult people use. So body cooling lotion can also differ according to age. Another factor is personality and life cycle. According to life cycle body cooling lotion is used for those people who are working class.

All day they are staying in outside and to feel fresh with addition skin moisture they need to use the body cooling lotion. Another thing is personality. Classy people always skin conscious, body conscious and they want to see themselves in fresh look. So body cooling lotion is highly acceptable for them. Ill) Geographic: The elements of defining the relevant geographic market include the nature and characteristics of the concerned products, the existence of entry barriers, consumer preferences, and differences among the market shares of undertakings in the neighboring geographic areas.

A company’s product can extend their name based on customer preferences. If the customer accepts the body cooling lotion, then they can expand their market worldwide. Under geographical segment the ingredient of the product should be safe, customer should highly prefer body cooling lotion and as a result the exit barrier will be low. ‘v) Behavior factors: social factors, personal factors and psychological factors. Cultural factors are coming from the different components related to culture or cultural environment from which the consumer belongs. According to culture body cooling lotion can be acceptable.

White collar people who spend their majority of time in work can have the problem of sweating, dehydration, for that reason body cooling lotion is mandatory. From young to adult, male and female every class of people can use body cooling lotion. And now a days women are also participating to work in outside, so according to the scenario the majority portion of people are working in outside by facing sunburn, sweating problem. Thus body cooling lotion can act as a prominent part. Social factors are among the factors influencing consumer behavior significantly.

They fall into three categories: reference groups, family and social roles and status. More generally, reference groups are defined as those that provide to the individual some points of comparison more or less direct about his behavior, lifestyle, desires or habits. If the consumer show positive behavior, interested to use the body cooling lotion and after using they are use to with it then it is highly acceptable. The family is maybe the most influencing factor for an individual. It forms an environment of colonization in which an individual will evolve, shape his personality, and acquire values.

If the family persons are interested to use this lotion then it is highly acceptable. The position of an individual within his family, his work, his country club, his group of friends, etc. All this can be defined in terms of role and social status. After family friends are interested to use it then it can extend their market. Decisions and buying behavior are obviously also influenced by the characteristics of each consumer. A consumer does not buy the same products or services at 20 or 70 years. His lifestyle, values, environment, activities, hobbies and consumer habits evolve throughout his life.

So according to consider those requirements it is a challenge for the body cooling lotion whether it is accepted or not. The purchasing power of an individual will have, of course, a decisive influence on his behavior and archiving decisions based on his income and his capital. As body cooling lotion is affordable so every class of people can buy this product. Motivation and perception are most important. If people hear positive word from their friends and family about the lotion then they will highly motivated and perceive in a good way.

Then after using the product if they get the positive result then their belief and attitude will be positive and they will buy more which will increase the profitability of the product. 5. Product Offering: In order to establish and run a successful business the company need to properly fine what it is that are offering to the customers. Whether the company offer a product, a service or both, it is imperative to proper define what it is the company do in order to reach the right target audience at the right price.

Body cooling lotion offers the customer fresh feeling; get rid from sweating and dehydration, instant moisturizer effect, assures smooth and silky soft skin, making the skin look younger, brighter, soft and fresh, sunscreen and ultraviolet rays protection, relieve pain & fatigue the body, to order, remove winds and slimming the body benefits, relieve says without affecting balance of skin, protects collagen tissue and also prevents the occurrence of free radicals and resulting old skin view, availability in different colors to suit every skin tone suitability for all types of skin delicate fragrance smooth texture softens skin naturally ideal for : treating dry skin making a base before applying make-up removing makeup effectively treating sunburns. This lotion penetrates deep into the skin and restores the moisture content and the menthol that are using in the lotion feel the consumer cool in outside also which reduce the warm which reduces inching and allergy. Competitor Analysis: Peoples are getting more concern with their skin, beauty and comfort day by day. Now, everyone wants to keep themselves organized and beautiful from their affordability. Hence, with the increasing demand many companies are there to serve the needs in a good manner to satisfy or hold customers. So, when it comes to beauty products there is not only one competitor. There is no product in the market which serves similar values to the customers. The constant growth in the temperature and the intolerable heat in the summer will make this product a buy-buy one. It will outperform, out maneuver and outcast competitors from similar sector.

The product will keep its long lasting brand equity and through perpetual innovation it will hold it;s success. Primarily the target market is the urban areas of Bangladesh but eventually it will become a global brand. The target of the brand would be value innovation. Though we have different features but for same product line our Many competitors are there in lotion industry for our ACE Body Cooling Lotion, they are: Square Toiletries Limited: Square Toiletries is one of the largest companies in Toiletries Industry of Bangladesh. They got a good amount of share in this industry. Though, it does not have any body cooling lotion but they have already touched the concept by introducing Cool body spray and it also have a winter based body lotion.

Cool Body Spray: Square only have “cool” body spray which will keep the body cool with the distinctive and masculine fragrance. Moreover, cool is segmented only for male users. So, there will be huge market for female body cooling lotion. Besides that, it does not have any moisturizing features with itself. So, we can have both male and female potentials for our Cooling Body Lotion. Cool Body spray has deodorant features that is already exist in our Cooling Body Lotion. So, in many cases we are ahead enough to compete with Square Cool Body Spray. Merit Revive Moisturizing Lotion: Merit Revive Moisturizing Lotion is especially suited for winter months when skin starts wilting due to lack of moisture.

As our market segment is different so it will not be a threat for us. Milliner Bangladesh: We must agree that Milliner is doing monopolistic and exclusive business in the body lotion market. Because mostly available body lotion manufactured by Milliner “Baseline”, “Dove” and “Fair and Lovely-body lotion” in the local market. Baseline Body Lotion: has gained the significant market share in lotion industry. It has several kinds of lotion to meet customer demand. Baseline Cocoa Radiant Baseline All Moisturizing Gel Baseline Essential Healing Lotion Among them Baseline All Moisturizing Gel is designed for Summer and it gives cooling and relief after sunburn. It is a great competitor for us.

Fair & lovely Body promises to lighten dark skin and also qualified other features of a lotion. ACE Body Cooling Lotion will not lighten the dark skin as it is not fairness lotion. In summer cost of the people look for some sort of cool environment and comfortable feeling. So, our product will serve their purpose to good extend. Dove is currently offering three kind of body lotion. Essential Nourishment Go Fresh Nourishment Indulgent Nourishment Dove Body Lotion: Dove brought a solution that keeps skin refreshed and nourished all day. It leaves skin thoroughly nourished and revalidated from morning to night and also leaves skin extra soft, extra smooth and extra beautiful.

Among these three Go Fresh Nourishment is especially for Summer and it is a competition for us. However, s initially our target is rural people and Dove Go Fresh Nourishment is not that much available in rural area so it is a good point for us. Besides that, with nourishing and moisturizing we also provide the cooling feature. 7. SOOT Analysts: A SOOT analysis is a method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a business or project. A SOOT analysis of the business environment can be performed by organizing the environmental factors as follows: The firm’s internal attributes can be classed as strengths and weakness. The external environment presents opportunities and threats.

Strengths: Strong brand recognition and high market share. Unique cooling features that is highly demanded among customers. Strong source of collecting raw materials. Have their own superstore for placing the body cooling lotion in the different outlets of SWAP’S. Competitive price. Product for both male and female users. Weakness: It is a new product in the market, so people will feel hesitated to use it. The rate of acceptance will be less. There will be low sales at the beginning with negative profits. The R&D department has to be strong enough to challenge the existing competitors. Opportunity: Participation within steadily growing industry.

Ability to decrease the fixed costs as a percentage of an individual sale as volume increase. Approaching rural market Threats: Direct competition in the body lotion market from other brands Convince rural customer is a bit tough compare to urban customer 8. Marketing Objectives: Marketing objectives is what we want to achieve through our marketing activities. Different businesses establish different marketing objectives depending on their our Body Cooling Lotion we have found out the following objectives- Marketing Objectives: 1. Achieve 70% product awareness among the target audience within the first six of operation. 2. Maintain a gross margin of 35% each month. 3. Steadily increase market share every quarter. 4.

Develop brand awareness and acceptance, quantifies by a decrease in customer acquisition costs. Financial Objectives: 1. Increase the profit margin by 0. 5% a quarter. 2. Attain constant annual growth of revenue in each year of operation. 3. Develop efficiencies in the delivery of the service through advanced training and workflow analysis. 9. Neurotransmitters The single objective is to position cooling Lotion as the premier source for sweat free LOL and moisturizer body. The marketing strategy will seek to first develop brand equity, increase customer awareness and build the customer base, establish connections with target markets and work towards building customer loyalty and referrals. Mission Sac’s cooling lotion has a mission to create high quality skin care products satisfying needs for their target consumers in summer and to be the leading skin care product distributor and manufacturer in cosmetic industry for summer. 0 Corporate values The brand determined to continue being creative and innovative, to aim for product excellence to meet the demanding standards of quality products and safety at all the times. Customer focus is to understand, listening and giving people what they need and serve the beauty and well-being of our consumers in all cultures throughout the world. 0 Brand promise The brand promises to protect the consumer’s skin from the harmful effects of the sun light. It also promises to make you feel cool during the hot summer days. It will take care of your skin and make you feel free to go outside even in the hot days.

The brand also promises to give your body a soothing fragrance. 0 Blue Ocean Strategy The product will create a completely new category where the body lotion will make the user feel cool, refreshed, protected from OUR rays and the sun, and will make the user smell better. The product will add value to the customer because s/he can enjoy the utilities of body lotion, deodorant, sun protection cream and talcum powder in a single product. The cost of consumption will be less and customers will enjoy a quality product at value pricing. This novelty product will create a wow factor. Its SSP 40 will protect the skin from UP rays and other harmful effects of the scorching sunlight.

It will control the melanin which would refrain the person from getting dark skin (skin burning). There will be a range of options from which the consumer can choose the desired fragrance lotion. The presence of menthol will create a cool and refreshing feeling but the all the product will not be of menthol flavored. The lotion will be dermatological beneficial for the user as well. It will protect the skin from harmful dusts and pollutions. Departure will utilize the four action framework it the following way. 0 The Competitive Edge There are no products in the market which serves similar values to the customers. The constant growth in temperature and the intolerable heat in the summer will make this product a buy-buy one.

It will outperform, out maneuver and outcast competitors from similar sector. The product will create long lasting brand equity and through perpetual innovation it will grow as a successful brand. Primarily the target market is the urban areas of Bangladesh but eventually it will become a global brand. The target of the brand would be value innovation. Figure depicting the value innovation is given- Figure: Depicting the value innovation of product 0 Target markets Primary market for the product is middle to upper class working and non-working adult male and female living especially in Dacha. The customers are expected to be that group of people who are concerned about their skin care, outlooks and appearances.

Our secondary target consumers are middle to upper class adult male and female living outside of Dacha. 0 HSRP (holistic selling proposition) proposition) we will follow the Holistic Selling Proposition or commonly known as the HSRP. Under this selling proposition all the internal and external factors will be taken under consideration for the positioning, pricing, promoting and placing. The main idea of doing such is to create a AD (5 dimensional) Brand or the Sonogram to have the clear idea about the brand. The dimensions are the sensory stimuli of human being. The AD model for this specific products as follows: Figure: AD Model of a new product The diagram shows that the smell is the most important sensory dimension of the lotion.

The touch or sensation feeling is nest to it. The sight or appearance of the lotion is also very important. Taste and sound is irrelevant in case of body lotion. Marketing mix Product: ACE is planning to launch their body cooling lotion for young consumers of Bangladesh between the age of 15 to 30, to tackle the skin problems and help to feel fresh and dehydrated during day time. Price: The launch price for the product will be ranging from the competitors pricing strategies. The price should not be higher or lower than the other competitor’s products. Considering the production, advertising and other related variable and fixed cost ACE will set an affordable price to the customers.

Place- Our Brand initially plans to have products displayed at various departmental stores, beauty salons, super malls and retailer shops inside and outside of Dacha. It ill also to display at leading pharmacies. As these outlets and location are in ideal spots which will help target potential customers for skin care product. Promotion- We are planning to communicate with our target customers initially through grand launching program with the help of a PR firm so that we get the best attention of all kind of media. After the launching event, we will go for 360 degree media communication with the help of print media, broadcast media, outdoor media, interactive media (internet).

We are going to advertise in those national Bangle and Daily newspapers which have high circulations. For magazine ad, we will choose local fashion and beauty magazine. We will advertise in broadcast media with the association of beauty and lifestyles shows. There will be billboards, banners, x- promotional campaign. We will use internet pop-ups as well. Advertising Exhibitions Press / Magazines Internet Pop-ups Beauty Shows Hoardings / Signboards Advertisements in local radios and local channels Advertisements in local newspapers and papers in various 0 Markets Advertisements in local fashion and beauty magazines Out-door advertising using posters, billboards, neon signs at beauty spas, bridge manners, lamp posts Internet pop-ups etc.

Public Relation 0 Sponsoring beauty shows 0 Free make over 0 Target publications 0 Offering free makeovers at beauty shows or outlets 0 At least one success story quarterly in a local beauty magazine to attract the market image and informing readers about new launches if any. Direct Mail & SMS 0 SMS messages 0 Develop mailing list with help of Universities and Colleges 0 SMS messages to be sent to all potential customers with the help of telephone operators. 0 A new attractive brochure should be designed to be mailed to target eligible clients. Sales promotion Special pricing at the time of launch 0 Brochure to be displayed at various Spa’s and saloons 0 Attractive prices at the time of launch to attract target customers. 3% discount on makeover at saloons tied up Product Design: For Male Consumers Cycle: For Female Consumers Product Life Sac’s new product cooling body lotion SPLASH will in the introduction stage of product life cycle. It takes time for a new product to survive in the market place competing with other products of competitors. Being in the introduction stage of product life cycle ACE must need to follow the given strategies: a. Inform potential customers bout the product b. Introduce product trials c. Secure distribution in retail outlets Distribution: The new product body cooling lotion can be distributed to the designated dealers of pharmacies and beauty saloon in big cities like Dacha, Chitchatting, Sylphs etc. 14.

Integrated Marketing Communication Strategy Integrated Marketing Communication (MIMIC) is the application consistent brand messaging across both traditional Andean-traditional marketing channels and using differentiation’s methods to reinforce each other. The deregulated be to successfully accomplish MIMIC to create thematic brand equity. The core concept of MIMIC is to cerebrated equity through achieving ROI. The first step is to create core value and then communicate the value throughway’s stories, which the customers have never seen forerunner heard before. Theater three tools of communication. 1. Above the line (TTL) 2. Below the line (BTL) 3.

New format The story around the brand promise For the brand communication a unique story would be made portraying the middle class and upper middle class of the society. For a better connection real life real people will be interviewed across the urban areas. Their perils in the hot summer ND how they suffer will be the basis of our story. We will make the electronic media advertises with these typical citizen. The brand ambassadors of our brand will be all the hard working people out there. We will of course relate their experience with the offerings of our Brand. We will show how the hot summer dilemmas of the people will be solved if they use our brand.