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Marketing Plan of PiaSha Coconut Juice
1.0 Report Background
Marketing of any product is an art. In this current world marketing is stands with a very important role for lunching a new product. Marketing a product is becoming very difficult and definitely so tuft. Because in launching a product, first of all the main problem is the competitors of that particular product. If the functions of marketing are right than the product can be marketed successfully. In the current world 85% of new product failed to build its image. Because definitely there is some mistakes happened in the marketing process. So it is so difficult to identify the fault of launching a new product. If any company wants to survive, it has to differentiate with its product. If anybody failed to create any different with their product, that product will go in the dust box. The product should have value than it is easy to create the position in the customer mind. Because when the customer and the product understand their relation the equity can built automatically.
1.1 Proposed Product
I have selected a new juice as the new product line of Partex Beverage. The product is coconut juice. This drink is totally new for the customer or for the people in our country and even in various countries in the world. In the market we have many drinks like, Coca Cola, Pepsi, and Virgin cola, URO cola and so one. But coconut juice is a drink, which is produce and marketed in our country for the first time. I am trying to differentiate this product with the other and coconut juice is the most new concept for the customer. The drinks, which are available in the market is not the natural think. It is a hypothetical feeling as that food. The mango juice, which is available in the market, is just only the flavor. There is no relation with the juice and the real mango. So I create my product as different as other. In my product I have a driver value which is the originality of the coconut. Customer can get the original test and the flavor of the
PiaSha is a drink where customer can feel the originality and feel the nature. PiaSha can build the value proposition. 1.2 Category of the Product
Market Information: Industry Size Target Group : 8 cores : Rural people, middle class, student young people Buyer Consideration : New product, Price, Brand name Industry Information: Competitors Goal Strategy : Sezan, Acme, Arong, Pran. Starship,
: We want to achieve 40% market share. : Competitive price.
2.0 Company Background
In 1994, Mr. M. A. Hashem, Chairman of Partex Group visited an International Trade Exhibition in the US, where he happened to meet the executives of Royal Crown Cola Co. International. From then on he started conceptualizing the idea of “RC” beverage brand in Bangladesh. With international brand name recognition and quality he expected that it would gain acceptability in the Bangladesh market. When he returned, a wide range of marketing research was carried out by Partex as well as RC International. After positive results, in 1996, the Corporate Head and the Directors formed Partex Beverage Ltd. Mr. Rubel Aziz,
One of the pioneers of the concept of RC, was given the position of Managing Director. Funds worth Tk. 10 Crore were raised as part of Equity from the Group. Although registered as a Public Limited Company, no public offerings have been made as yet. The factory was setup in Rajendrapur, 40km away from Dhaka city. The company commenced commercial production on 6th October 1997, and RC was launched in Dhaka on 20th October 1997. This is the story of how Partex Beverage Limited became the sole official bottler of Royal Crown Cola Co. International. Now it has been almost 3 years since then, and a number of new products, in new and innovative packages have been introduced to the market. Partex Beverage has also introduced RC outside Dhaka into unexplored markets. We are proud to say that we have stuck to our mission and are now worth over Taka 80 crore (US$ 16 Million).
3.0 Current Market Situation
If we consider the current market then we find that beverage industry has a significant growth rate. So a lot of companies are coming here. But the others beverage companies are failed to target the right market and reach them. Sometimes they failed to give them the appropriate massage. So we have selected our target customer group and make our marketing strategy. Here we have discussed our target group and marketing plan. In the market the coconut juice is very new product. Particularly in our country we have lots of dirking juice and so one. But we do not have any juice like this. Though it is a very new drink but it has a big demand in the market. Because those drinks have no neutrality and all of them are made of different chimerical. Those drinks are made with chemical and the flavor of that particular food item. When the customer will get the knowledge about the coconut juice, which is cent percent natural and the juice contain the originality and the flavor; the customer will go for it. I believe in reality, and I want to serve the nation. We are spoiling our environment and we serve the nation almost the dusty thing. We do not have any right to do this ridicules thing with our people. That’s why I want to contribute myself as a responsible business man and do some thing good for this country.
3.1 Segmentation & Target Customer
The strategy of segmentation allows us to avoid head on competition in the market place by differentiating. Market segmentation is the first step in a marketing strategy. After segmenting the market into homogenous cluster, we must select one or more segment to target. To accomplish this, we must decide on a specific marketing mix. Our target markets are as follow: 1) Geographic Segmentation: We have selected rural area. All of we know that this type of people are huge number. If we able to reach this target group, then we will be able to make more profit. 2) Demographic Segmentation: We have selected 15-30 years of age people. This group is young and they purchase frequently. 3) Psychographic Segmentation: We have selected economy minded people. Bangladesh is developing country and maximum numbers of people are middle class. So market size is big.
3.2 Positioning Strategy
A positioning can built on meaningful difference, supported by appropriate strategy and implementation can help the company build competitive advantage. Using product differentiation, we are positioning the RC Coconut Juice positioning map is given in below:
Cola / Un cola
RC Cola Virgin Pepsi Coca Cola
RC Lemon Cloudy Lemon
3.3 Competitor Analysis
As others industries here are also a lot of competitors. We are coming with a new product, but other juice companies are also my competitors. They are also coming with juice product. But our main competitors are the coconut sellers who are huge in number. So we set the competitive price (13TK for 300 ml). We think that this price will make our product a good position in the market.
3.4 SWOT Analysis
SWOT is the combination of 4 key words, which constitutes the internal and external issues of a company, an SBS pr even an industry. The 4 key words are, S=Strength; W=Weakness; O=Opportunity; T=Threat. Strength: Strength refers to the competitive advantages and the other distinctive competencies that a company can exert in the market place. Weaknesses: Weakness is constraints that hinder movements in certain directions. Opportunities: A marketing opportunity is an area of buyer need in which a company can perform profitable. Threats: A threat is challenge posed by an unfavorable tend or development that would lead, in the absence of defensive marketing action, to deterioration in sales or profit.
3.4.1 Strengths PiaSha
can build on three important strengths. They are:
Brand Image: The name Partex Beverage itself the premier beverage brand image. It has been able to create enormous goodwill by its quality product all over Bangladesh. Innovative Product: There are lots of soft drinks and juice product like mango juice, oranges juice etc are available in Bangladesh. But no one is come out with Coconut juice. Since it is the first product in Bangladesh, it has much more probability to achieve success. Cost advantage: Already Partex Beverage provides various types of beverage product offerings to its customer and thus satisfies the needs of various customer segments. Therefore, as the organization has a lot of customers, its operational costs go down. Pricing: We do not take high price as other juices are taken in Bangladesh. We think that the price is quite reasonable to be succeeded.
Lack of Product Awareness: Though the product is new, it may fail to create the proper awareness towards the target customer. Availability of Coconut Juice: Bangladeshi climate is suitable for the coconut juice. So people can collect juice easily. So it is the weakness of our product to commercialize.
Growing number of customers: Seeing the current situation of the beverage industry and also the population boom, it can be depicted the Bangladesh needs more
PiaSha modernized and different types of product and this is therefore a big opportunity to enhance it’s sincere position in the consumers mind through increased number of quality product and different product. Increasing customer’s awareness: In the years the people are very much aware about their diet and drinks. They don’t like to take food and drinks from outside and open market. So it will create the advantage to provide the quality drinks.
Growing Number of Competitors: As there is a growth visible in the beverage industry, many multinational and national companies are entering in the market to serve the customers. To survive in the industry, Partex has to face the threats created by these new entrants. Downward Price Pressure: Increased competition and market-share strategies are perusing beverage companies to decrease their prices. So the profit margin is very low in here. Large number of indirect Competitor: In the coconut juice, there are lots of indirect competitor. Lots of coconut sellers are available all around Bangladesh. It is easy to collect coconut and its juice. So these coconut sellers are the main threats of PiaSha coconut juice.
Our objective is fully professionalized and we have the target to provide service in a familiar atmosphere and with greater warmth.
5.0 Marketing Strategy
5.1 Product Strategy
This Coconut Juice is actually the coconut water from young coconuts. It is very alkalinizing to the body because it is high in Potassium and contains other alkalinizing minerals like Calcium and Magnesium. This delicious juice is called Buko Juice in the Philippines and is excellent for replacing electrolytes or rejuvenating the body on a hot summer’s day. Please check out the instructions below to find out how to make coconut drinks with this water. Coconut Water Nutritional Facts
Coconut Water Nutritional Facts Serving Size 300 ml No. of servings per container Calories Total Fat Total Carbohydrates Sugar Potassium Sodium Calcium Protein Vitamin A Vitamin C Calcium Iron (7.45 oz) 1 79 0g 18g 16g 164mg 24mg 14mg 1g 0% 0% 0% 4%
5.1.1 Features of
To get the market I have to create differentiation within the product. If the product is different and if the product has the quality, the product will get the market. In the drinks category, my product is totally new and different. As my product is already different, so now I have to give the quality in to the product. I have some new feature for my product. Those features are as follows:
The coconut juice creates the newness in to the soft drinks and juice. The juice is from the coconut. After testing the juice in the laboratory the juice is launch in the market. So the chemical which are used with the juice is not harmful for health. The only purpose of this chemical is to create bubble in the juice and keep the fresh of 12 days.
the coconut juice is mixed with carbonated water. The juice gets a new flavor and the bubble with it. The carbonated water is no side effect and it is no more harmful for the body. The water just creates some bubble and it looks nice and it is testy to drink.
PiaSha provide an extra pack with the juice bottle. Every body wants to
make some different in to their life. And even in their appearance they want some change. They want to make difference with their food, clothing, and life style. The extra pack will provide some capsule to the customer. The customer can make the juice colorful and they can make more bubble in to their juice. It is a different way to fell their drinks.
PiaSha is mixed with a chemical, which will protect the juice from
bacteria, and keep the juice as same as it was in the coconut for 12 days. The chemical is very costly and it is only used in the food item.
5.2 Pricing Strategy
Though the juice is an innovation item, but it should go for price penetration pricing. The product gets the novelty and it has the quality. So the product will demand more in the customer. As there are no direct competitors, the customer will come closer to the brand and they willingly buy the product, as the juice provide some more ingredient and some other extra features with the drink, it is usual to on going cola pricing price. The cost of manufacture, the transport cost and the distribution cost is reasonable; the price should not be more than any other juice in the market. The price will determine according to the following formula:
Cost + profit = Price
As the cost of production is high, so to earn profit, the price will be higher. The price of the juice is selected as 13Tk per bottle.
5.3 Distribution Strategy
The distribution of the juice is bit different. Because of the low cost of the machine of the plant, every district I usually set up a factory of it. It will raise the speed of distribution. The coconut water is perishable, that’s why the factory set up is need. The water is fine while the water in to the coconut but when the pulled out, the water need to distribute. In the district town I have more than 15 agents to distribute the product. Every morning the product is provided to the agent by van from the factory, and the agent provide the product to the shop within 2 hours. That’s why the juice pack can save 11 days of life. Within 11 days it will remain fresh. The product will go out side the country by cargo plane with pharmaceutical item. The distribution of this product will make within a day in anywhere. The navy people are demanding for this juice. The juice is distributed in to them by cargo van within a single day.
PiaSha Within the Dhaka city the 20 agents create their own zone according to the area. And they are very efficient to distribute the product on time, because timing is very important for the distribution of this juice. In Comillah, Chandpur and Barishal my product has the biggest factory. The product which are available within Dhaka city, those are usually came from Gajipur and Comillah. The products which are produced in Chandpur, those are providing in Chittagong. The products are also providing in to kuakhata from Barishal.
5.4 Marketing Communication Strategy
This is the most important part of marketing a product. The customer knows a product by Promotion. So if Promotions have a lacking the product will not get the market. There is various ways of doing Promotion. As my product is new and novelty, I will go for certain communication, and those are as follows: Publicity/ Public Relation TV ads
Print media (news paper) Radio Billboard & poster Event management Spoke person
Our target is to promote our product by achieving each step. First of all we are trying to get the awareness in the customer mind. Then we provide the usefulness and the advantage of this product. We associated this product with the people through different event and sponsorship. I think it will make different my product with others juice product.
Purchase Conviction Preference 12
PiaSha Liking Knowledge Awareness Figure: Different Stages of Promotion
5.4.1 Media Planning
Mont h Media PR TV ADD Print Media Radio BTL Total Jan Feb Mar ch Apr il 5% Ma y Jun e July Aug Sep Oct Nov Dec
30% 30% 30% 30% 30% 30% 15% 15% 15% 10% 10% 10% 15% 15% 15% 100 % 100 % 100 %
10% 10% 5%
10% 10% 10% 10%
30% 30% 30% 30% 30% 30% 30% 30% 30% 40% 40% 40% 40% 40% 40% 40% 40% 40% 15% 10% 10% 15% 15% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 100 % 100 % 100 % 100 % 100 % 100 % 100 % 100 % 100 %
Publicity is the most important Promotion for the novelty product. Publicity usually used for novelty product. So I am given extra intention to the publicity for my novelty 13
PiaSha product. I will arrange some agents how will get the responsibility to give the knowledge to the public individually. They will make a relation with the public, and they pull the customer to buy the product. They will also announce in their own area about the new product for customer knowledge. They will work for build the public relation and the public knowledge. In most of the area the customer will convinced by the agent.
I will go for TV adds after the publicity, because now a days TV is belongs to every house in this country, even in the rural area also. So by watching television people will know about this product and they will feel the interest about this product. In the urban area, the people have the consistency to watching the television and they watch the TV regularly. So from the TV they will know this new product. The urban people have different necessity to watching television based on their age. Those who are belongs to child they are usually watch the cartoons, and those who are adult they will go for different purpose. So the add will take place according to the need of the customer. The adds should take place in the middle or just before the channel news, then the people who are middle aged they can watch the add and understand about the new product. If the add is given middle of any serial or movie the female can get the message. And for the child and the male the add should given during any cricket game or within any cartoons.
Print media: (news paper)
Newspaper is also very important way to communicate with the people. Newspaper usually contains the important news of the country or the world for the reader, and if the ads express its image properly the reader will go to watch and read the ads at least once. So it is important to look after the place, where the add usually posted. Even now a days the newspapers are going to abroad, it is usual the foreign readers will also fell interest about it.
Billboard & poster:
PiaSha The person who is very busy with his or her work, they don’t have any time to watch the TV or read the newspaper ads. So for them the billboard and posters are appropriate. They can watch the billboard and the posters through the window of the car or somewhere else. They do not need more than 10 second to watch the ads. The billboard and the posters are also for the people who don’t have any television and cannot read newspaper regularly. They can understand about the product that the product is very new and it’s a natural thing to have. When the brand is going to build its image and the brand equity, the secondary brand association is play a important role. So it is very important to look after the secondary brand association. A product can build secondary brand association with using the name of the own company, also by using the name of the country where the product is produced. Some times the product can use a spoke person to build the value of the product. According to build my product I have selected the following secondary brand association to build my product equity. I think these two is the best feat for my product.
As my product is new and I have to build the equity of my brand, I have to spend money for the show up of my product. That’s why I have selected event management. By going event like, concert in some renowned place of all the cities of this country, it can be helpful to create an image to the market.
I am also inviting a spoke person as my brand ambassador, who will usually try to build my brand awareness to the customer. The spoke person or the brand ambassador for is Api Karim and Jahid Hassan. They will do this work for my brad for next one year.
That was the whole project paper of my coconut drink. all the elements are build in this project, and I think the value.
PiaSha can create its brand equity by building its
6.0 Action Program
will be introduced in June. Following are summarizes of the action programs I will use to achieve our objectives. These marketing program are divided May-June: a) In the first steps we will develop our sales team according to the target customers. b) We will give special incentive to middleman. c) We will give some sample to student at some different university campus. d) We are going to massive promotional activities like Trade Promotion, Advertising, and Discount etc. e) We will sponsor the popular TV program on BTV to reach the mass people.
July-October: a) Promotional activities are continuing. b) We will arrange concert on university campus. c) We will sponsor on TV program for teen age group. November-February: a) We will give some campaign on the usefulness of coconut juice. b) Promotional activities are continuing. March-May: a) b) c) d) We will review the plan is action or not. We will reduce the as on television. We will give merchandising plan for retail outlets. We will make CP program.
7.0 Financial Projection
Here is our budget for the entire communication strategy. New TVC Making E-media Print media Sampling Billboard Branding Event Total 600,000 2800,000 950,000 80,000 500,000 455,000 180,000 5565,000