An Assignment

On
New Product
Executive Shoe

Submitted To:
Md. Abdullah Mafuz
Lecturer in Marketing
Department of Business Administration
Northern University, Bangladesh

Submitted By:
Dipock Mondal
Department of Business Administration
Northern University, Bangladesh

Date of Submission: 4th April 2010

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 ACKNOWLEDGEMENT

First of all we would like to be grateful to Allah and my parents and pay my
deepest respect Md.Abdullah Mafuz, Lecturer in Marketing, Department of Business
Administration, Northern University Bangladesh, due to her generous and friendly guidance.
The NORTHEN UNIVERSITY BANGLADESH help me to get the opportunity to do the
work in the New Product. We are also grateful to her for helping me to understand some
minute issues as well as those issues which we have failed to understand. we also would like
thanks my friends for giving me enormous help can not mention in this short extent.
.

Marketing Plan of Executive Shoe

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3.1 Introduction:
Bata is a new and starting up company which forms on 4 April in 2010 in Dhaka. Its
objectives are to provide world class and innovative Executive Shoe. This company is
preparing to launch Executive Shoe which is quite new and stylish product for all.

Shoe has gotten stylish overtime. People spend thousands of money for buying different
types of Shoe to make them beautiful and sophisticated. As thing get better with time,
people will move on from the good Executive Shoe
3.2 Objectives Of This Assignment:

The objectives of this assignment is to know how to started a new shoe and how to
captured the market shares. The implication of 4 p s of marketing. We also learned about
SWAT analysis of new shoe.

Market Summary:

Executive Shoe possesses good information about the market and knows a great deal about the
common attributes of the most customers. This information will be leveraged to better
understand what their specific needs and how Executive Shoe can better communicate with
them.

3.3. Market Demographics:

Geographic:
 Executive Shoe has no specific geographic target area in Bangladesh but we
prefer Executive. It would be very suitable for Executive classes of people.
People can use this shoe all the time.

Demographics:
 Male can use this shoe.
 People who are Executive are the vital users.
 People who are educated are major concerning customer.
 People who are involved in earning and lead a prosperous life also our
concerning customer.

Behavior Factor
 People who are very aristocratic and lead very luxurious life they usually
accept this product easily and old conventional people will take longer time to
accept this Shoe.

3.4. Market Needs:

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 People usually need shoe or similar type of chopple. Almost all people who profession is in office
in our country use Shoe. People are very much habituated to use Shoe. Most of the people
recommended are using first and foremost for better class shoe
Purpose of using shoe:

16%
Formility
5%
Comfortable
15% Luxury life lead
64%
Style

All the executive people of our country are very much conventional but our young
generations are different as they can cope with newly things much more easily. Some sorts of
people especially young generations are very much monotonous with using conventional Shoe. So
they are looking for something new and different. That’s why we believe that our would be the
most impressive want for this growing need.

3.5. Market Trends:

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 In our country people usually use Shoe for maintaining formality respondents replied
positively that they use shoe. However, among male who is not use shoe will use it

Influencing Factors in New shoe Purchase Decision:

While purchasing shoe respondents firstly look for brand and their percentage is 26.67%. Then,
secondly they prefer both antiseptic quality and for these the percentage is 23.33%. After that,
10.00% consumers seek for both price and ingredients. Again, 6.67% people search for both
availability and size Finally, only 3.33% people hunt for few other factors which are size,
advertisements, and shopkeeper’s opinion.
Different types of people use different types of shoe. People who are concerned with their
formality use high quality shoe.
Market segmentation:

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Executive Shoe is a new and uncommon shoe and its segmentation is different to other ordinary
shoe. Its segmentation bases on-
Gender (men & women)
Social class (Upper upper-Upper- Upper middle and Middle.)
Density (urban area)
Attitude toward product (positive, adaptable with new things.) and generation (young )

Our market segment is quite measureable because our main target customer is executive people
and its approximate size is 63.6% of total population

Our target segment is very accessible because we urban area is one of our target market. The
urban population which is 27% of total population

Our market segment is quite differentiable (Such as Men, Women) who have distinct
choices needs and characteristics.
In order to actionable our marketing program our market segment will help us. We can
introduce different marketing strategy and promotional strategy according to men and women
choice, preference and needs. So our market segment is measurable, accessible, actionable, and
differentiable.

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 SWOT ANALYSIS

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1. SWOT analysis

Strength of Executive Shoe :

Convenient in distribution
High quality leather.
Combination of different features
Comfortable to use
Affordable for all segments
Provide comfortable Size.

We assure shoe differentiation.

Weakness of Executive Shoe:

Production cost and price would be higher.

No brand awareness of this new product as a start up company.
Lack of depth industry experience and insight.

Opportunities of Executive Shoe:

New stylish and very much adaptable for the young generation.
There are no other manufacturers of such kind of shoe.
As the only manufacturer of this product we have an opportunity to capture the
greater market share.
Much different and distinctive than traditional shoe.
So it is a large market which creates a great opsportunity for us.

Threat of Executive Shoe:

Shoe market is the nearest competitor of us which possess the all market.
Our conventional people hardly take this shoe enthusiastically.
Possibility to come more competitors in this market.

Competition:
Competition is an important factor to consider before entering a business. Company
should have successfully competitive strategy to be able attract, retaiun and grow customer.
There are no other companies who produce such kind of shoe. But there are similar types of
shoe. At present our Apex is our main competitor. There are different types of shoe

Product Offering:

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 Executive Shoe has two criteria; one is for men and another is for women. It will provide
three category products, men, menthol, and normal. Executive Shoe especially for men has some
standard features:

 Richly Executive Shoe is made up by high quality leather.

 Feeling perfecting refreshed and recharged.
 Scents skin with distinctive musk arena.
 Provides a gently yet through comfortable.
 Provides convenient value sized for executive.
Marketing strategy:
The key to marketing strategy focusing on the stylish, broad minded, young and cautious of
their style, these types of users. Executive Shoe can cover the 50% of the shoe market because if
produce products toward those segment who want to see themselves as distinctive. It is able to
address different segments within the market although each segment is distinct in terms of its users
but it would be very much useful to different segment because of its comfortable, quality, long
term useable, reasonable price and its users get expression of sophistication.

Mission:
Executive Shoe mission is to attract and maintain customers by ensuring better quality and having
difference from the other shoe. We hope our product will exceed the expectation of the customers.

Marketing objectives:

Executive Shoe key marketing objectives are:

 Establish a strong brand image and consumer loyalty.
 Maintain positive strong growth in first years.
 Decrease consumer acquisition cost by almost 1.5% per year.
 Easiest and availability of the product to the target consumer.
 Create awareness about this uncommon shoe.

Financial objectives:
 Achieve breakeven within first year.
 Reduce production cost at every half yearly period steadily.
 Maintain a significant research and development budget for future development and
innovation of the shoe.
 After achieving breakeven increase profit margin by 1.5% per quarter through efficiency
and economy of scales gains.

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Target market:
After segmenting as class basis we target different social class in Bangladesh. We prefer people
who are living in the urban area of our country. Our targeted social classes are divided as upper-
upper, upper-lower, upper-middle and middle and executive. Among the people of these social
classes they want something new and sophisticated which would represent their choice and
personality. Moreover they want some variation in their daily life and want to use better something
which would represent their status and roles.

Young educated people are another preferable target market of us. They are becoming stylish &
want new & innovative things they are very much capable of adapting with the new invention.
Mean while as shoe very much comfortable to use and economical it would be the first choice of
those people who are fond of journey.

Positioning:
Positioning is one of the most important key to launch a product that means the distinctiveness
from any other product which possess in the customer mind. However Executive Shoe contains
lots of distinctive features from its competitor shoe.

Some distinctiveness are mentioned below-

 It is much more foaming than other traditional shoe.
 It has two criteria (men & women) which contains distinct features from others. But
other traditional shoe has no criteria like (men & women).
 Executive Shoe is normally suitable for all types of shoe.
 We use some distinct ingredients which are hardly used in our traditional shoe.

Executive Shoe is much more distinct, stylish and enjoyable so we will convey this message to our target
customer by various promotional activities. We would follow societal marketing concept for assuring
consumer satisfaction. More over we would maintain the Consumer Social Responsibilities (CSR) to create
brand awareness among the people.

If we can aware our customer about our products positive and distinct features we can create a
distinct position in our customer mind.

What is our market position:

Each company has its own particular position according to market share. Among four types of
market dominator our company product position is market leader. Because of is Executive Shoe
the pioneer of such kind of shoe. This shoe is totally new and no other company did not introduce
such kind of shoe in past. That’s why we will posses 100% market share of this product.

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Strategies:
Our core objective is to position Executive Shoe in the shoe market. Our strategies base on specific
area pricing, distribution, and marketing communication.

Product:

We are going to introduce Executive Shoe. For serving the market of we are introducing different
segment.

This Shoe has many value added features like-

* Convenient in distribution
Comfortable to use
* Affordable for all segments

Price:

Price is only one p among the 4p’s that generate some revenue for the company rest all incurred
some cost of the company.

As you know that there are several price based approaches are available that company should
follow---
*Firstly we consider our product cost.
*Then we analyze competitor’s price
*After all our price of Executive shoe is average to competitor price.

After complete analysis of all the cost which is incurred we set the standard price of the shoe
which is easily affordable for all segment like low class, middle class, and higher class people
easily purchase that shoe.

Promotion:

For the purpose of promoting Executive Shoe we use different sources like print media, Electronic
media and Internet.

Placement:
The shoe which we are going to be introduced is Executive shoe after deciding rest all three
marketing p’s now we are in a position to decide where the product is placed. The shoe should be
placed everywhere in the market. Company also targeted to capture the whole market by
comparative price. The product is placed in retail shops through different distributors. The shoe is
available in the market at fair price.

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Distribution: Initially we will use dealer to cover six divisions and distinct towns. We will use 2
depots in Dhaka and Rajshai .Our shoe will be delivered to the depot, and then distributed to the
dealers. We have 60 dealers in the whole market and more than 2000 sales representatives under
dealers around the country. By sales representatives we would give money to grocers, showrooms
or own sale center as they will be more active to make aware and convince the Shoe customer
about this shoe.
Marketing communication: By integrating all messages in all media, we will reinforce the
brand name, and the main points of product, especially our exclusive feature.

We will take some promotional activities- first of all we will give ads on TV channels; it is
the most interesting recreational media of our country. We will hold dramatic
advertisement on various satellite channels like NTV, RTV, ETV, BTV, ATN, etc. make
attraction to the people. We will sponsor popular drama, cinema to make awareness of the
consumer.
Secondly we will add the various popular daily newspapers like “PROTHOM
ALO”“JUGANTAR” “THE DAILY STAR” etc. Because most of educated and urban
people read this news papers.
Thirdly we would like to choice FM radio, which is growing popular recreational media in
our country. In the small period of time there comes some radio channel like “RADIO
TODAY” “ABC RADIO” RADIO FOORTI” etc. We will hold jingle types of
advertisement in the radio channels. Young generation is the most vital customer of our
product and the hear FM radio in their leisure time.
We will also add in periodical like different types of magazines. We will sponsor different
events and give wall and bill board advertisement in the important places to draw attention
of the people.
As a opinion leader we will use some reputed player and a reference group we can use our
Bangladesh cricket team.
Finally we will hold customer driven campaign in most of towns. Such as
Distribution of samples
Discount of coupons to customers in the retail stores
Prize through raffle draws
Free trials of new customers

Discount coupon will serve as marketing strategy to develop similar loyalty scheme in
order to indentify and stimulate brand awareness In the Bangladesh market.

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 Control:
The purpose of marketing plan of Executive Shoe is to serve as guideline for the
organization. We will measure our performance by controlling following areas:-
 Annual revenue
 Annual sales expense
 Customer satisfaction

Implementation:

We are planning tight control measure to closely monitor quality and customer satisfaction. This
will enable us to react very quickly in correcting any problem (if any deviation find) that may
occur.

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 Recommendation
And
Conclusion

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Conclusion:
As Executive Shoe is a new shoe in our country, so it has some lacking such as no popular brand
name, people are not accustomed with such kind of product etc. but we hope we can easily
overcome these lacking in our nearest future by providing better quality and creating strong brand
loyalty among the customer. We believe that our people will prefer the Executive Shoe then
traditional shoe after comparing the product benefits. Hopefully in near future our people will get
ride of that old Executive Shoe and get your self a Executive Shoe and change the way their shoe.

Recommendation:-

Although Executive Shoe richly distinctive from other shoe and it contains very good quality and
adaptable for the young generation but it has some lacking. So we provide some recommendation
to overcome those lacking.
 It’s a new shoe in our country market and has no brand popularity so we need to take lots
of promotional activities to create brand awareness among the people.
 Its price is much higher than other shoe. So we should reduce our production cost by
producing and selling larger scales.
 We give much priority to young generation but capturing the young generation we should
emphasizes on other people as well.
 We should provide more information about quality, feature and benefits to the target
customers.

Reference:
www.google.com
www.newproduct.cu.uk
www.p&g.com
Book, Marketing Management By katler & kellar
Internship Report
Sample Assignment by internet

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