A Term Paper On Markting plan

Submitted To: Mrs. Nazia Nabi Lecturer,School of Business, UITS.

Submitted by:
Shakerul Tazu Md Eamin Zabed Farhana Yeasmin Lopa Subrata Kumar Singha

Date of submission: 19/12/2010

1.0 EXECUTIVE SUMMERY
BASALT is a fashion house producing fashion wears for Bangladeshi Market. The company has newly entered in the market to offer Bangladeshi fashion new and innovative dresses and accessories for men and women. To meet that mission the cost of the product may become very high comparison to other competitors but BASALT is offering the same price level with a very high quality warm weather effective product which is not being offered by the other existing companies in Bangladeshi Market. Our additional product fashion accessories are also very innovative and affordable. The company’s marketing objective is to offer the consumers fashionable dresses compatible with the Bangladeshi weather and achieve first year’s market share of 5 percent and sales of 200,000 units. BASALT has several powerful strengths on which to build but our major weakness is lack of Brand awareness and image to consumers. The major opportunity is growing demand for weather effective fashionable wear for both men and women in the corporate and regular users. We also face the threat of ever greater competition and down ward pressure on pricing. Although strong competition with the established competitors, we can offer the consumers more value and unique technological benefit that will help us to gain the market share and high brand image to the consumer for the next generation fashion wears. We are offering high quality, special benefits and affordable price that will give us the most significant place in the market. Almost all the strong points of the competitors can be meet up with the strategies of our company. BASALT will establish a well regarded brand name link to meaningful positioning. We will have to invest heavily in marketing to create a memorable and distinctive brand image projecting innovation, quality and value. We also must measure awareness and response so we can adjust our marketing efforts if necessary. Our consumer market is middle-middle to upper-upper income Professional, Students, youths, and Trendy Users who are basically fashion lovers and comfort seekers. Using product differentiation, we are positioning our product as the most versatile, convenient, unique, comfortable, elegant, and elite and value added style for personal, occasional and professional use. Consumers will remember our brand whenever they think of comfortable but very elegantly fashionable outfits specially made for him or her in purpose in the life. Total first year revenue for the BASALT Fashion House is projected at 200,000,000 BDT, with an average whole sale of 1000 BDT per unit variable cost per unit 300 BDT sales volume of 200,000 units. Break even calculations

Other early warning signals that will be monitored for signs of deviation from the plan include monthly sales and monthly expenses. We are planning tight control measures to closely monitor quality and customer service satisfaction. .indicate that BASALT will become profitable after the sales volume exceeds 42857 units. This will enable us to react very quickly in correcting any problems that may occur.

Our financial objectives are to achieve first year’s revenue of 200.000 BDT and to meet the break even in the first year. To meet that mission the cost of the product may become very high comparison to other competitors but BASALT is offering the same price level . Next year.0 PURPOSE AND MISSION OF BASALT’S MARKETING PLAN BASALT is a fashion house producing fashion wears for Bangladeshi Market.000. PURPOSE: The company’s marketing objective is to offer the consumers fashionable dresses compatible with the Bangladeshi weather and achieve first year’s market share of 5 percent and sales of 200. BASALT is committed to offer the high value to the consumer by serving the market with wears that are suitable for weather of Bangladesh.000 units.000 sales unit with 300. MISSION: To offer Bangladeshi consumers fashionable and weather effective wears with high quality and in affordable price and take the market leader position in next five years.000.000 BDT. The house will conduct researches on market and consumer demand in Bangladesh and will outsource the product manufactured from china. As we want to provide the high quality products in a convenient cost for the customers. we want achieve 2% profit from the 300.2.000 BDT and 600. The company has newly entered in the market to offer Bangladeshi fashion new and innovative dresses and accessories for men and women. technological benefits of outsourcing from China will be suitable to meet up the demand at a low cost with high technological and cost minimizing benefit.

. Our additional product fashion accessories are also very innovative and affordable.with a very high quality warm weather effective product which is not being offered by the other existing companies in Bangladeshi Market.

buttons and lining which make them feel unique. stylish but weather suitable and comfortable outfit in any season. Table 3. STUDENTS and TRENDY USERS market for the first year. their needs and its corresponding features or benefits offered by BASALT: Table 3.1 Targeted Segments Customer Needs Corresponding Features/Benefits • Fashionable Party and festive dress Sophisticated and elegant cutting Soft fabrics and clean lining Cool and comfortable shape for flexibility Designed on occasional & regular use Formal but trendy outfits Effective in warm weather Straighten Fabric that need no iron Sophisticated and elegant cutting Semi formal shape for regular usage Effective in warm weather Casual & Semi formal style for regular usage Comfortable for regular use Youths • Fashionable Dress • and Accessories on • occasional basis • • • Flexible & • Comfortable Formal Stylish Outfit • • • Comfortable Regular • Usable Casual Dresses • Professiona ls Students .1 shows the targeted segments. regular trend update. pure fabrics and well quality swing. BASALT targeted YOUTHS.0 SITUATIONAL ANALYSIS 3. PROFESSIONALS.1 Market Summary BASALT‘s market consists of consumers who need convenient stores.3.

stones and lining Fashion lovers exclusive collections .Trendy Users • • Latest Trendy Stylish • Dresses with Fashion • Accessories • Trendy and Elegant Cutting Stylish & Trendy formal and casual Fashion Accessories Unique color. metals.

3. That will bring us the opportunity to take the market leadership in the next generation fashion wear market. 3. warm weather lasts for almost 8 months.BASALT’s consumers can choose all the products on occasional basis or for the specific benefits. 2. We also face the threat of ever greater competition and down ward pressure on pricing. Weather Effective and Fashionable Products: BASALT is the first company in BD who produces weather effective comfortable fashionable wears for the warm weather. For this reason the clothes have to be cool in high humidity and straighten fabricating which needs low rate of iron. STRENGTHS: 1. The features or benefits provided are less or more provided by the competitors but they will find it hard to compete with us because we are providing more value than competitors at the convenient prices. We call our products nest generation fashion wears because it is provided with weather suitability and highly comfortable. Based on this factor the price would be very high but we are . In Bangladesh. Our price levels are little bit high to ensure the consumers that the quality is high. Even the shape and cuts of the dresses are very well though and systematically designed which ensures the minimum joints and lining edges. The major opportunity is growing demand for weather effective fashionable wear for both men and women in the corporate and regular users. BASALT will be already catching their segmented markets in the first year. Before the competitor hit this quality and product features (competitive advantage). The products are designed to ensure saggy-proof which caused by contentious sweating.2 SWOT Analysis BASALT has several powerful strengths on which to build but our major weakness is lack of Brand awareness and image to consumers. Pricing: The technology and the product features we are using require very high pricing. Innovative and Unique Technology: We use most innovative technology to fabricate and design the dresses as well as to manufacture those by out sourcing from china and USA. This is the strongest competitive advantage of our house. That decreases the jolliness and softness of the fabric. Using these technologies is very rare in Bangladesh used by other competitors in the exiting market.

the consumers seeks for more comfortable fashion wears. 2. That will result in reducing the costs and increasing more quality to offer. Lack of Brand Awareness and Image: BASALT has not yet established the brand and image in the market where other competitors like Westeks and CatsEye is already very strong brands in the Bangladeshi market. Growing Demand: The major opportunity is growing demand for weather effective fashionable wear for both men and women in the corporate and regular users in Bangladesh. Lack of indigenous fashion trend in the products: We used the stylish western and semi western (Bangladeshi Local – and Western Fashion Mixed Fusion) trends in our product design. OPPORTUNITY: 1. THREATS: . Diversified Trends Need of Consumers: Consumers are more aware and thoughtful now in Bangladesh that gives us the opportunity to offer more high quality products in suitable price level. Even the price is little bit high comparison to other competitors in Bangladesh to create the image of high quality and higher value. Better Development in Fashion Technology: Technologies in this field are being developed very faster to make the dresses more comfortable and weather effective as well as more lasting. WEAKNESS: 1. Diversification in fashion trends and quality is more risk free for now in Bangladesh. In the first year and second year we cannot hit this segment but it consists of a large number of consumers.offering minimum price relative to the product features. As the weather is getting extremely hot or cold in the respective seasons. 3. Aarong (except Aarong’s Taga) or DesiDos (Alliance of 10 Indigenous Fashion House) are proving pure indigenous Bengali fashion outfits to the consumers. 2. where BanglarMela.

given the lower margins in the fashion wear market. Ecstasy has effective distribution system and high brand image. They are really successful to provide trends in the market. CatsEye Have very high brand image and the advantage of being pioneering in the outsourced dresses but their product variation and uniqueness is low. 3. Trends Uniqueness and product design rotation is their main feature in the market. shape and outlets that consumers find it more affordable and valuable. Still our objective of seeking a 2% profit on the second year is realistic. But all the features of BASALT offered to the market is very profitable that we need to communicate those very effective that other cannot even think to reach there. They can easily adopt this features and technologies in their production strategy. . Downward Pressure on Pricing: Increased competition and market share strategies are pushing fashion wears prices down. Ecstasy Ecstasy has variety and creativeness in color. 2. They have a large variety and unique designs in the product and outlets as well. Our key competitors are: Westeks Westeks is providing high quality of fashion products with western and trendy dresses using outsourced technologies for manufacturing. Increased Competition: More companies are entering in the Bangladeshi fashion wear market. Competition from high quality and technology bases production for comfort and flexibility to use the products are also some key factors in this market.3 Competition Analysis Increased entry of established and new fashion houses in the market has pressured industry participants to continually add features and cut prices.1. design.

Capri and Tops for Women • Informal stylish Cuts and decorated Linings • Elegance in texture and fitting • Stylish and highly fashionable in occasional use • Strengthen Fabrics that need less iron and do not get saggy in rough use • Variation in edging and cut edges that differs from existing fashion Accessories . Blazer. Taga is one of the pioneer Ladies’ Western Fashion Brand of Aarong which offers very high fashionable Bangla-western fusion dresses for women in Bangladesh. Polo shirts. Trousers and Windy for Men • Jeans. special benefits and affordable price that will give us the most significant place in the market. Trousers. Pants. We are offering high quality. Almost all the strong points of the competitors can be meet up with the strategies of our company. Jeans.Aarong They are very diversified in the dress design and very indigenous in the trends to the consumers. Polo shirts.4 Product Offering: BASALT product offers the following standard features: Formals Dresses • Pants. Formal Polo Shirts. T-shirts. Blazers and Blouses (Tops) for Women • Formal Cuts and Linings • Elegant color and texture • Stylish and highly fashionable • Low use of outer faced swings and threads • Strengthen Fabrics that need less iron and do not get saggy in rough use • Variation in edging and cut edges that differs from existing fashion • Light weight and comfortable for the shaping and swing Casuals Dresses • T-shirts. Despite strong competition with the established competitors. 3. Kamij. Have strong brand image and diversified outlets with variety of accessories and dresses. Coats and Ties for Men • Shalware. Shirts. Trousers. Shirts. we can offer the consumers more value and unique technological benefit that will help us to gain the market share and high brand image to the consumer for the next generation fashion wears.

• • • Metal. hand parse. belts. wood ornament and leather money bags. bracelets. Cap etc Light weight and exclusive shapes Stylish and highly fashionable in occasional use . Tie. chain.

Our own branded outlet will place all the products we offer in the market.5 Distribution: BASALT branded product will be distributed through a network of selected store and BASALT Branded outlets. Outlets and Selected stores are: BASALT Branded Outlets: We will use our own establishments and rented outlet in the main cities of Bangladesh. Franchise Outlets: We franchise some of the company to use our logo and marketing strategy for selling our brand product in the selective distribution stores all over the country.3. .

000 units.4. We also targeted those who are very stylish and elegant in choice in the dresses. Second year Objective: We want achieve 2% profit from the 300. color. They like to use unique dresses in benefit. fabric and features. First Year Objective: Our first year objective is to gain first year’s market share of 5 percent and sales of 200. Our targeted segments can be described by age.1 Marketing Strategy Objective: We have set an aggressive but achievable objectives for the first and second years of market entry. We also must measure awareness and response so we can adjust our marketing efforts if necessary. We will have to invest heavily in marketing to create a memorable and distinctive brand image projecting innovation.000 sales units with 300. youths. quality. Our target is to achieve first year’s revenue of 200. quality and value.000. and Trendy Users who are basically fashion lovers and comfort seekers. Students. • Our consumer market is middle-middle to upper-upper income Professional.000 BDT. That gain 10 percent market share.2 Target Market: Our marketing strategy is based on a positioning of product differentiation. usage status income that are: Segments Youths Age Usage Status 16-35 Occasional / Celebration/Regular and • • . We will have to determine whether we have to create a new brand name and image or on go with this existing name instead of using the mother brand name BASALT. An important objective will be to establish a well regarded brand name link to meaningful positioning.0 4.000 BDT and 600. 4.000. The name BASALT is the name of the core group of the company that is launching the new product in the market.000 BDT and to meet the break even in the first year.

Outlets and Selected stores are: . wood ornament and leather money bags.4 Strategies: Marketing strategies need to broken down into strategies in specific areas of 7Ps. elegant. Pants. occasional and professional use. Distributions BASALT branded product will be distributed through a network of selected store and Branded outlets. and elite and value added style for personal. The price level of the products will vary from 500-20. Trousers and Windy for Men Jeans. Jeans. Blazers and Blouses (Tops) for Women Casuals Dresses T-shirts. bracelets. Polo shirts. Even the price is little bit high comparison to other competitors in Bangladesh to create the image of high quality and higher value. comfortable. Polo shirts. Based on this factor the price would be very high but we are offering minimum price relative to the product features. Coats and Ties for Men Shalware. chain. hand parse. belts. Consumers will remember our brand whenever they think of comfortable but very elegantly fashionable outfits specially made for him or her in purpose in the life.Professionals Students Trendy Users 4. Tie. Formal Polo Shirts. unique. Trousers. Shirts.000 which is 2% extensive than other competitor but comparison to the quality it is affordable. Product Formals Dresses Pants. Trousers. Kamij. Capri and Tops for Women Accessories Metal. we are positioning our product as the most versatile. Blazer. Cap Pricing The technology and the product features we are using require very high pricing. 4.3 Positioning: Formal User 16-28 Celebration/Regular User 20-45 Personal Fashion 25-50 Using product differentiation. convenient. Shirts. T-shirts.

. the agency will also coordinate public relations efforts to build the brand and support the differentiation massage. we will offer as a limited time seasonal price reduction as special offers. Franchise Outlets: We franchise some of the company to use our logo and marketing strategy for selling our brand product in the selective distribution stores all over the country. To attract market attention and encourage purchasing.BASALT Branded Outlets: We will use our own establishments and rented outlet in the main cities of Bangladesh. The agency will appear on a pulsing basis to maintain brand awareness and communicate various differentiation massages. Thereafter. Research about media consumption patterns will help our advertising agency choose appropriate media and timing to reach prospects before and during product introduction. We will cover the placement system through company’s van and other distribution systems and vehicles. advertising will appear on a pulsing basis to maintain brand awareness and communicate various differentiation messages. BASALT will reinforce the brand name and the main points of product differentiation. especially our especially our exclusive feature. Until the brand has been established our communications will encourage purchases through channel partners rather than from our Web site. Marketing Communication By integrating all messages in all media. They will be trained to handle customers and behave in a very effective and unique style corresponding to our brand image. Our own branded outlet will place all the products we offer in the market. The communication tools will be: Bill boards Website Magazine & Paper Ads Cosponsoring Fashion Events FM Radio Neon Signs People Sales person and associates will be provided with the outlet uniforms that will bring our brand messages.

.Physical Environment Our branded outlets will be decorated according to our brand and the whole environment of the outlets will give the customers a very special moment to visit them. Physical environment will reflect our value and quality to the consumers.

6 Marketing Research Using research. 4. Finally we will use customer satisfaction studies to judge market reaction.Fall: BASALT will initiate 70% trade sales promotion in the summer to fall season for the products of warm weather. we will indentify specific features and benefits our target market segments value. Brand awareness research will help us determine the effectiveness and efficiency of our messages and media.5 Marketing Mix: Spring: We will initiate 30% trade sales promotion in the spring season for the products of cold weather. Summer . Feedback from market tests. We are also measuring and analyzing customers attitudes towards competing brands and products. Accessories department do not have any variation on the seasonal basis. . and focus groups will help us develop the BASALT Brand Products.4. Various outlet will be decorated under the hot weather seasonal environment and sales force will effort to sale up to 70% sales units allocated for the first year in this term. Various outlet will be decorated under the hot weather seasonal environment and sales force will effort to sale up to 30% sales allocated for the first year in second term. surveys.

1 Break Even Analysis Total first year revenue for the BASALT Fashion House is projected at 200.000 1000 -.000 BDT. Based on this assumption Break even calculation is: 30. variable cost of $300 per unit and estimated first year fixed costs of 30.000 50.40. Break even calculations indicate that BASALT will become profitable after the sales volume exceeds 42857 units.5.000.000 80.80.000.000.000 units.000 BDT 1.2 Marketing Budget 2010-2011 11. Our braek even analysis assumes per unit whole sale revenue of $300 per unit.00. with an average whole sale of 1000 BDT per unit variable cost per unit 300 BDT sales volume of 200.000 Marketing expense budget Web site Advertisement Printed materials Sales force Total Sales and Marketing expenses .12.000 44.000 BDT.300 = BDT 42857 5.0 Financial Analysis 5.00.

2 Marketing Organization: Shakerul Tazu will be responsible for the BASALTs chief marketing officer marketing activities. 6.0 Implementation & Controls 6. The graph below shows the marketing organization: Shakerul Tazu Chief Marketing Officer Md Eamin Zabed Sales Manager Subrata Kumar Singha Advertising Manger Farhana Yeasmin Lopa Promotion Manager .1 Implementation: We are planning tight control measures to closely monitor quality and customer service satisfaction.6. Other early warning signals that will be monitored for signs of deviation from the plan include monthly sales and monthly expenses. This will enable us to react very quickly in correcting any problems that may occur.

Marketing Management. School of Business. by Phillip Kotler & Kevin Lane Keller 2.References 1. Faculty. “How to write Marketing . Plan” Ms Nazia Nabi.

.Appendix Content 1. Developing 20 MCQ for gathering information.

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