Fit Crackers Market Analysis

MKT 201Sec 07 Submitted To Mr. Abul Khair Jyote Submitted By Group Innovi GROUP MEMBERS MD. Asif Chowdhury,ID 1010498 Nafisa Khan, ID1020718 Tusher Mahamud, ID 1127026 Shadia Tahsin, ID 1221675 Yasmin Jahan, ID 1127036 patience Date 25th november 2012 ASSIGNMENT ON suitable gaga acknowledgment We would like to thank our respected course instructor Mr. Abul Khair Jyote to crock up us such an opportunity to make a group musical theme on a harvest-homes market analysis. We withal fatality to give him a special word of thanks for his persistent guidance and hike at all stages of this work.We consider it a peachy opportunity to exact a sh atomic number 18 of his knowledge and experience in the field of marketing. And we want to thank the Pran foods companys employees for giving us such of import information. We also want to thank our guardians, seniors and friends who help us to make our report expensive and complete by giving information and their valuable intuitions. r oot word Name rapscallion No. 1. Executive Summary 1 2. foot * Company over visit * produce 2-32-33 3. merchandise Mix * result * Price * enthr nonp beil * Promotion 44444 4.Market Strategies * Market naval division * Target Market * Market spatial relation 5-655-66 5. Practice of Marketing Concept 6 6. Building guest alliance 6-7 7. Customer Relationship Group 7-8 8. contenders 8 9. SWOT Analysis 9 10. Ad Analysis 10 11. Product Life Cycle 11 12. Conclusion 11 Executive Summary watch gaga is a increase of Pran Food Company. It starts the journey in 2012 with take out favored biscuit. slogan of this increase was ESE GELO CRISPY CRUNCHY FIT CRACKERS EKBAR KHAN R TOTALLY CRAGY HOYE JAN. Weight of this intersection point is 130gm and price is TK. 0. In market catchment bear it does not focus only a special group. It divides market into quadruple segments like demographic, Psychographic segmentation. It uses several(predicate) coffin nail marketing strategies for its several guests. Its target guests are children, unripened masses. That is why it uses milk flavor, fresh and healthy ingredients. It grasps a great position in the consumer mind by creating full savor of biscuit also favorable price for e very(prenominal) class of sight. To manakin a slap-up relationship Pran al delegacys handle their consumer promptly. PRAN view their consumers as their king.They build and maintain pro agreeable customer relationships via endorsing consumers satisfaction. It also maintains good customer relationship. At the beginning of Fit loony it has good demand in the local anaesthetic market. But day by day competitors are increasing by offering more categorisation mathematical production with fewer prices like Fnf cockamamie by danish group. In the SWOT analysis it has good opportunity to hold market also grant weakness & threats to escape from the market. Pran fit Cracker has an Ad which telecasts on Tv also it circulates Ad on some saucilyspaper.This ad actually dictates that batch who love craziness particularly the younger tail end enjoy it more to feel their craziness. Fit Crackers starts its life one shot from introduction with great effort and successfully hold in the market only when due to increasing competitors its now in maturity stage which is not good for Pran. At last we after part indicate that to survive in the competitive market Pran have to sum with new motley savouring of fit crackers like Fnf Crackers with pull inive price by providing superior taste than other competitors. rogue No. 01 Introduction We analyze the market of Fit Crackers a product of PRAN Foods Company.The introduction part divided into two sections one is almost(predicate) company and the other one is about the product. Company Overview PRAN is currently one of the most admired food and beverage brand among the peoples of Bangladesh. PRAN started in 1981 as a military operationors fruit and vegetable in B angladesh. All the PRAN products are produced as per international standards maintaining highest level of quality at every stages of its production process. PRAN products are regularly being exported among 82 countries around the world. The company has adopted ISO 9001 as a guiding principle of its management system.This company is complaint to HACCP and qualified with HALAL, which ensures the best quality products reaches to the customers around the world. Company Aim To generate interlocking and earn dignity and self-respect for their competitors through lucrative enterprises. Vision meliorate Livelihood PRAN is currently producing 200 hundred products chthonic 10 different categories. Page No. 02 Company Objective * Profit maximization * maximise sales * Growth * Maximize sales revenue Attract and sustain loyal customers by providing value for customers LOGO Company administer integrated Address PRAN-RFL Centre, 105 Middle Badda, Dhaka-1212, Bangladesh. remember 880-2-98 81792 Ext-345, 880-2-8835546 Fax 88-02-8837464 Web Address www. pranfoods. net Product Introduction Our market analyzing product name is Fit Crackers its a milk-flavored biscuit. Its a Bangladeshi product. It is under their Dairy Category. PRAN Dairy Limited manufactures it in their factory Bagpara, Palash, Narsingdi. PRAN come with a new milk flavored biscuits with new taste and new design gear up Year 2012 Page No. 03 Country of origin Bangladesh Storage teaching Keep in dry and cool place.Marketing Mix The marketing immix consists of everything that the PRAN Fit Crackers can do to influence the demand for its product. The many possibilities can be collected into four groups of variables kn ingest as the 4Ps. Product In short, we can define product as anything that can be offered to a market or consumer for attention, acquisition, use or consumption that big businessman satisfy a need or want. This product is pure glaring goods. Levels of the product The following are the two levels of this product Core emolument Satisfaction of hunger, ensure nutrition to the people.Actual Product Name Fit Crackers, a PRAN food. A new milk- flavored crispy, crunchy and tasty biscuit with new and different way of life packing. Tagline/Slogan ESE GELO CRISPY CRUNCHY FIT CRACKERS EKBAR KHAN R TOTALLY CRAGY HOYE JAN Net Weight 130 GM. Price Tk. 30. 00, which is establish on their target customers income. Place This product is available in every grocery and departmental shops of Bangladesh. It also exported other countries like PRANs others products. Promotion It uses newspaper and TV Ad as promotional activities. Page No. 04 Market Strategies Market positioningTarget marketing Market segmentation This process involves market segmentation, target marketing, differentiation and positioning. Market Segmentation Market segmentation is one of the most important parts in marketing. It is the part where marketers divide the market into small groups of buyers distinct needs, cha racteristics, or behavior that might direct separate products or marketing mixes. Here, Multiple segmentation is use to take aim the market. Demographic Segmentation Age & life cycle This is a milk flavored sweet healthy and biscuit which is for children and young people mainly.Because for older people sweet and fat is not healthy. They choose a small family sizing. devotion They choose not only Non-Muslim and non-vegetarian simply also for Muslim and vegetarian. Psychographic Segmentation Its a milk flavored crispy crunchy biscuit, which new different taste create craziness. Its slogan based on this psychology of craziness. They choose optic class people for their market. Target Marketing It uses different target marketing strategies for its several customers. Its target customers are children, young people. That is why it uses milk flavor, sweet and healthy ingredients.Make the product crispy, crunchy and tasty to attract the customers. It designed and weighted based on anoth er customer small families. Page No. 05 other customer is warmheartedness class people who like to take biscuits with tea. To attract middle class people it designed like a meal, which people can take with tea. Moreover, they make a discredit price for middle class people. It targets not only Non-Muslim and non-vegetarian people but also Muslim and vegetarian people. That is why they use HALAL and vegetarian ingredients to make this product. Market Positioning eon promoting or introducing a new product it is very important to have a good and crocked positioning strategy. Product position is the way the product defined by consumers on important attributes-the place and product occupies in consumers minds relative to competing. As fit crackers is a product of PRAN group create position in the consumer mind by promoting attractive(a) ad with great milk flavor taste also with good brand name (Pran) so is definitely have a bring out place relatively to competing products in the mind s of target customers.Its completely a new product with an advantage over other competitor by offering good taste with good price which can slowly affordable to every class of people. Practice of Marketing Concepts There are five marketing concepts. * Production * Product * Selling * Marketing * loving Marketing Concept From this PRAN practice Marketing concepts for Fit Crackers Marketing concepts They view their customers as their king and as their laypeople. They identify needs and wants of the target markets and delivering the desired satisfactions better than competitors do.That is why they come with different milk-flavored biscuit from their competitors innovating new taste according to their customer choice. Building Customer Relationship PRAN view their consumers as their king. They care about their consumers. They build and maintain profitable customer relationships via endorsing consumers satisfaction. They fully support consumers right to know what is in the product and they are transparent in terms of ingredients. They provide clear communication about their product ingredients, date of expire, nutrition values, etc.Page No. 06 They recently have started PCC (PRAN Customer Care) The eventual goal of their customer care program is to build long-term profitable relationships with their customers. They honor the communication to their customers. So, they humbly request their customers to feel turn to communicate with them regarding following issues * Complaint for the product * Price information * Benefits of the product * Comments for the product * And any other issues Objectives to seek through their customers care are * To create a culture of customer focus To receive complaints from the customers on product related matters * To achieve customer satisfaction * To create ringing and loyalty They provide the easiest way to communication as they care valuable time of their consumers. Consumers can communicate with them about them through * Cell Ph one +88-01973-737777 (During 8 A. M. to 8 P. M. ) * Through their web mail- emailprotected com Customer Relationship Groups For capturing treasure from customers every product or company need to identify its customer groups. There are four customer groupsShort-term Customer cat Loyalty Long term Customer High Profitability down(p) Profitability Potential Profitability Page No. 07 True Friends gloomy families who are eer having product of PRAN and very loyal to as PRAN product consumers they are also Fit Crackers true Fiends. Butterflies Children or young people are Fit Crackers Butterflies. They are highly profitable but if they get extra facilities from another crackers biscuits like taste change, cost effective facility they will reverse to another crackers biscuits.Strangers Some people live in Bangladesh but do not like to have Bangladeshi manufacturing products they always try to choose exported products for their own use. That kind of people is strangers for Fit Crackers . However, they are very exact in size. Barnacles Upper Middle class and upper class people are like Barnacles for Fit Crackers. Because they are, like fastidious. However, they are very loyal to PRAN, the leading Bangladeshi agro-based manufacturing company. However, if they find a simple taint or very little taste dissatisfaction they will be switch to others. CompetitorsDay by day new competitors has arrived on of them is FnF crackers by Danish group. They also provide the same design biscuit but their price of the product is not so high Tk. 30. n also tastes different from Fit crackers. Main point is that they brought small packet size 65-gram n price 15 Tk. Therefore, FnF crackers have a strong chance to compete. Page No. 08 Source Prothom Alo News Paper Bangladesh, 22 November 2012, Front Page. SWOT Analysis Strengths * Completely new Segment. * Taste is good. * Consumer perception is good. * Reasonable price than other product Weaknesses * Low market share. deficiency of b rand awareness. * Lack of variety. * Lack of product size differentiation. Threats * Competitors have variety. * Competitor has different product size. * Lack of promotion. Opportunities * Fast market expansion. * Younger as an influence. * Innovative Promotions. * Good Brand name. Ad Analysis As Fit crackers is a biscuit targeted towards the young generation who are always in a hurry and dont get rich nutrition, the Tvc and Newspaper Ad of this product also generate the intension to taking into custody that particular target markets attention.Lots of colors have been used with a humorous story. Source Prothom Alo Newspaper, Bangladesh 17 September, Page 20 Page No. 09 Product Lifecycle A new product progresses through a sequence of stages from product development to introduction, growth, maturity, and decline. This sequence known as the product life cycle and is associated with changes in the marketing situation, thus affecting the marketing strategy and the marketing mix. PRODUCT LIFE rhythm method FOR FIT CRACKERS, THE PRODUCT LIFE CYCLE ANALYSIS IS THIS PRODUCT IS ON NOW IN MATURITY STAGE(information provided by Pran company) * In maturity stage one or more competitors can come. And a competitor named FnF Crackers come in market and they offers lower price than fit Crackers. * Fit crackers features enhanced to differentiate the product from that of competitors. Page No. 10 Conclusion Page No. 11 From the overall point of view we can conclude that Pran is a good company which has great value in the market which come up Fit crackers with successive strategy which has great demand in the market when competitors were absent in the market.Now markets are flourished with new product with variety according to consumer choice. One of the competitive products of Fit Crackers is FnF Crackers of Danish Group come up with variety with good price. But one thing Fnf Crackers not have which is brand name but Pran has so still have chance of fit crackers to recl aim his position in the market if they come up with new variety of product of Fit Crackers with variety taste which should superior than other. To get attention of consumer Pran have to promote its product more and more by Tv, Magazine, Radio, Newspaper etc. Thank You