Fit Crackers Market Analysis

MKT 201Sec 07 Submitted To Mr. Abul Khair Jyote Submitted By Group Innovi base MEMBERS MD. Asif Chowdhury,ID 1010498 Nafisa Khan, ID1020718 Tusher Mahamud, ID 1127026 Shadia Tahsin, ID 1221675 Yasmin Jahan, ID 1127036 Submission Date 25th november 2012 ASSIGNMENT ON equal awry(p) Ac realizeledgement We would handle to thank our respected course instructor Mr. Abul Khair Jyote to wee-wee us such(prenominal) an chance to hurl a group study on a proceedss grocery store analysis. We also wish to give him a special word of thanks for his persistent steerage and encouragement at all set ups of this work.We consider it a great opportunity to consider a share of his knowledge and experience in the sports stadium of merchandiseing. And we want to thank the Pran foods companionships employees for giving us such precious information. We also want to thank our guardians, seniors and friends who help us to string our report valuable and complete by giving information and their valuable perceptions. Topic shit rogue none 1. Executive Summary 1 2. Introduction * ac confederation everyplace prognosis * crossing 2-32-33 3. grocerying concoction * Product * bell * Place * Promotion 44444 4.mart Strategies * Market breakdown * Target Market * Market Positioning 5-655-66 5. use of market Concept 6 6. mental synthesis guest Relationship 6-7 7. Customer Relationship Group 7-8 8. Competitors 8 9. SWOT digest 9 10. Ad abstract 10 11. Product Life unit of ammunition 11 12. Conclusion 11 Executive Summary salvo barmy is a convergence of Pran Food companionship. It starts the journey in 2012 with milk favor cooky. Slogan of this harvest-festival was ESE GELO CRISPY CRUNCHY FIT balmy EKBAR caravanserai R TOTALLY CRAGY HOYE JAN. Weight of this intersection point is 130gm and price is TK. 0. In grocery store segmentation it does non focus only a special group. It divides market into multiple segments like demographic, Psychographic segmen tation. It uses different point marketing strategies for its several nodes. Its prey customers are children, youthfulness plenty. That is why it uses milk touch sensation, sweet and healthy ingredients. It holds a great position in the consumer mind by creating true(p) stress of biscuit also favorable price for every(prenominal) class of concourse. To realise a skinny relationship Pran always handle their consumer promptly. PRAN view their consumers as their king.They conformation and maintain harvest-timeive customer relationships via endorsing consumers satisfaction. It also maintains good customer relationship. At the beginning of condition crackers it has good demand in the local market. But sidereal day by day competitors are change magnitude by offering more variety overlap with fewer prices like Fnf crackers by Danish group. In the SWOT analysis it has good chance to hold market also have weakness & deoxyadenosine monophosphate threats to escape from the m arket. Pran primed(p) Cracker has an Ad which telecasts on Tv also it circulates Ad on some unusedspaper.This ad actually dictates that people who chicane craziness especially the five-year-older can enjoy it more to sapidity their craziness. meet crazy starts its life history cycle from introduction with great driving and successfully hold in the market exclusively due to increase competitors its now in maturity stage which is not good for Pran. At last we can indicate that to survive in the warring market Pran have to pass off with rising variety sense of taste of fit crackers like Fnf awry(p) with draw and quarterive price by providing superior taste than new(prenominal) competitors. Page none 01 Introduction We analyze the market of capable Crackers a reaping of PRAN Foods Company.The introduction part divided into 2 sections one is active company and the new(prenominal) one is about the crop. Company Overview PRAN is currently one of the most admired foo d and beverage cross off among the peoples of Bangladesh. PRAN started in 1981 as a processors fruit and vegetable in Bangladesh. completely the PRAN fruits 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 certified with HALAL, which ensures the best quality products reaches to the customers around the world. Company intent To generate employment and earn dignity and self-respect for their competitors through profitable enterprises. Vision Improving Livelihood PRAN is currently producing 200 hundred products on a lower floor 10 different categories. Page No. 02 Company Objective * proceeds maximization * Maximize sales * Growth * Maximize sales receipts Attract and retain loyal customers by providing loo k upon for customers LOGO Company AddressCorporate Address PRAN-RFL Centre, 105 middle Badda, Dhaka-1212, Bangladesh. Phone 880-2-9881792 Ext-345, 880-2-8835546 facsimile machine 88-02-8837464 Web Address www. pranfoods. net Product Introduction Our market analyzing product name is capable Crackers its a milk-flavored biscuit. Its a East Pakistani product. It is under their Dairy Category. PRAN Dairy Limited manufactures it in their mill Bagpara, Palash, Narsingdi. PRAN come with a new milk flavored biscuits with new taste and new design Launch Year 2012 Page No. 03 Country of caudex Bangladesh Storage Information Keep in dry and cool place. trade Mix The marketing mix consists of everything that the PRAN Fit Crackers can do to solve the demand for its product. The many possibilities can be collected into quad groups of variables know 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 might satisfy a need or want. This product is pure tangible goods. Levels of the product The following are the two levels of this product Core Benefit Satisfaction of hunger, ensure nutrition to the people.Actual Product Name Fit Crackers, a PRAN food. A new milk- flavored crisp, crunchy and tasty biscuit with new and different style packing. Tagline/Slogan ESE GELO CRISPY CRUNCHY FIT CRACKERS EKBAR KHAN R TOTALLY CRAGY HOYE JAN Net Weight 130 GM. outlay Tk. 30. 00, which is based 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 spatial relationTarget marketing Market segmentation This process involves market segmentation, target marketing, differentiation and positioning. Market Segmentation Market segmentation is one of the most i mportant parts in marketing. It is the part where marketers divide the market into diminished groups of buyers distinct needs, characteristics, or carriage that might require separate products or marketing mixes. Here, Multiple segmentation is use to take up 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 size. Religion They choose not only Non-Muslim and non-vegetarian but 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 middle 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 h ealthy ingredients.Make the product crispy, crunchy and tasty to attract the customers. It designed and weighted based on another customer small families. Page No. 05 Another customer is middle 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 lower 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 PositioningWhile promoting or introducing a new product it is very important to have a good and strong 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 ad with great milk flavor taste also with good brand name (Pran) so is unquestionably have a better place relatively to competing products in the minds of target customers.Its completely a new product with an advantage over other competitor by offering good taste with good price which can easily affordable to every class of people. Practice of Marketing Concepts There are five marketing concepts. * Production * Product * Selling * Marketing * Social 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 de operatering 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 fear about their consumers. They build and maintain profitable customer relations hips via endorsing consumers satisfaction. They fully support consumers right to know what is in the product and they are transparent in terminuss of ingredients. They abide clear confabulation 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 free 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 research 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 rapport and loyalty They house the easiest way to communi cation as they care valuable time of their consumers. Consumers can communicate with them about them through * Cell Phone +88-01973-737777 (During 8 A. M. to 8 P. M. ) * Through their meshing mail- email&160protected com Customer Relationship Groups For capturing Value from customers every product or company need to identify its customer groups. There are four customer groupsShort-term Customer Project Loyalty Long term Customer High positivity Low Profitability Potential Profitability Page No. 07 True Friends Small families who are always 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 bare(a) facilities from another crackers biscuits like taste change, cost effective installation they will switch to another crackers biscuits.Strangers Some people live in Bangladesh but do not like to have Bangladeshi manufactur ing 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 precise 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 fault 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. of import 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. leave out of brand awareness. * leave out 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 discoloration name. Ad Analysis As Fit crackers is a biscuit targeted towards the young generation who are always in a cannonball along and dont get enough nutrition, the Tvc and Newspaper Ad of this product also generate the intension to grab that particular target markets attention.Lots of color 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 cognize a s the product life cycle and is associated with changes in the marketing situation, therefore affecting the marketing strategy and the marketing mix. PRODUCT LIFE beat 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 sequent 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 regain 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 draw attention of consumer Pran have to gain ground its product more and more by Tv, Magazine, Radio, Newspaper etc. give thanks You