Market Analysis Of Butterfly

Print version essay is available for you! You can search Free Term Papers and College Essay Examples written by students!. Join Essays24.com and get instant access to Market Analysis Of Butterfly and over 30,000 other Papers and Essays Category: Business Autor: anton 06 May 2011 Words: 1269 | Pages: 6 1.1 Introduction Just only few years ago people of Bangladesh was not so familiar with the generator or even with the motorcycles. At that time to them these were luxurious product. But in the last few years the scenario has changed completely. Generator or motorcycle is no longer luxurious product to them. Rather than they treat these as their basic necessity. This change has encouraged companies to invest in making generators and motorcycles. But only production is not enough for the success of products. A well designed marketing strategy, strategic planning and effective implementation of strategies can ensure a healthy sales revenue and thus satisfactory market share. 1.2 Background of the company Butterfly marketing limited is a Bangladeshi company which started their journey in 1987 with only 3 showrooms. Since then their main focus was on product quality and after sales service. As because of this it is experiencing tremendous growth and now it has 128 showrooms in Bangladesh. Butterfly operates only in Bangladesh. It merged with LG and is selling Korean and Chinese products. Butterfly is currently selling TV, refrigerator, deep freeze, generator, IPS, motorcycle, vacuum cleaner, air purifier, dish washer etc. In most of their product they have achieved very competitive position. Butterfly is the market leader in the electronic goods like television, computer monitor, air conditioner, refrigerator etc. This means that they have created goodwill and brand value in consumers mind. Now their objective is to achieve success with their generator and motorcycle. Butterfly has 2 types of sales policy and these 2 are credit sales and cash sales. But it mainly focuses on the credit sales. It has divisional warehouse and from these warehouse it supplies product to different branches. Divisional warehouse make product of butterfly available and ensures low inventory and holding cost. 1.3 Rationale of the study

I am working in marketing department of Butterfly. This experience will help in my professional life if I chose my profession in the marketing department. My experience will help me to do work smoothly if I join in the marketing sector of any company. 1.4 Objective of the study 1.4.1 Broad Objective: Analyzing different aspects of market situation of the competitors of Butterfly regarding generator and motorcycle and finding out position of Butterfly compared to its competitors. 1.4.2 Specific Objective To find out what different models and types are available in the market of generator and motorcycle. To know market share of different companies. To identify potential market size. To know about the after sales service of the companies and to know how much they vary. To gather knowledge about the current scenario of generator and motorcycle market. To identify ways through which Butterfly can improve their market share or position in the market. 1.5 Scope of the report: Since the study will be conducted basis on Dhaka City in evaluating different aspects and criterias related with companies who sell generator and motorcycle, the scope of the Report will be limited within Bangladesh. 1.6 Strategy and Methodology 1.6.1 Area of investigation: For my project purpose, I have selected few companies within the Dhaka city. As it is tough for me due to time and resource constrains for me to collect the data from the entire Dhaka city in this short period., I have selected the following companies those are Rahimafrooz,Walton, Singer, Lifan for generator and Hero Honda, Yamaha, TVS Victor, Singer, Walton Lifan for motorcycle. Though its not appropriate to find out the practical sales and demand in those areas, but I have tried to find out relevant picture. 1.6.2 Techniques used to collect data: Face to face Interviewing officers, staffs and dealers will be performed regarding the quality, types, sales and service of the product.

 In-depth study of selected case. Sharing practical knowledge of officials. 1.6.3 Population: The Generators and Motor Cycle companies, considered as the population for conducting the report. The companies are as follows: Rahimafrooz, Walton, Lifan, Hero Honda, Yamaha, TVS Victor, Singer. 1.6.4 Sampling Unit: Generator and motorcycle segment of the companies will be considered as the sampling unit. 1.6.5 Sample Extent: Dhaka Metropolitan City. Different outlets of different locations of Dhaka city will be covered. 1.6.6 Sample Design: Simple Convenient Sampling will be used for this study as because of different constraints and barriers. 1.6.7 Sampling size: The population size for the study is large and as a result for that the determination of sample size will be based on time limitation and resource constraints Since the time duration is fixed 10 days for organization survey. 3 days are allocated to get the approval from these organizations to work with them to conduct the research study. With the rest 7 days I will cover 7 organizations. 2 employees will be interviewed of each company (2*7=14) and 3 middleman of each company will be interviewed (3*7=21). So the sample size is 35. 1.6.8 Selecting g the sample: Sample will be selected based on the goodwill of the companies. 1.7 Sources of Data Collection The sources of data or information are divided into two parts that are; primary and secondary sources. 1.7.1 Primary Data: In the primary source, data will be collected directly from interviewing the different peoples who may be dealers, branch managers, walk-in-customers and other related personnel. 1.7.2 Secondary Data: In the secondary source, I will use different brochures and journals. Our main source of Secondary Data will be the annual report and websites (The Internet). 1.8 Expected activity schedule: Activities for preparing this report are divided into five parts which will be completed one after another. Here we show the time we should be needed to complete this report.

Preparation & submission of proposal 3 days Development of questionnaire 5 days Taking schedules from companies for conducting survey 3 days Conducting Survey 7days Analyzing the data and preparation of the report. 7 days 1.9 Conceptual framework of the report My major is Finance & Accounting but I am working in marketing department. This experience will help in my professional life if I chose my profession as a marketer. But this experience will make me more resourceful as I will be able to combine my theoretical knowledge of Finance & Accounting and practical knowledge of marketing. 1.10 Potential problem statement Sales of motorcycles and generators are dependent on several variables. Effective uses of these variables ensure to obtain satisfactory market share. So potential problem statement of this study is to identify these factors or variables those directly affect the sales volume of generators and motorcycles of different companies and determines market share. 1.11 Visionary recommendations For profit maximization Butterfly should benchmark some factors that are directly associated with profit maximization and greater market share. At the same time they should pay attention more on their strength and find out ways so that these strengths can have positive impact on their sales and market share. 1.12 Conclusion Price reduction or emphasizing only on price is no more a concept to achieve a healthy market share position. It is now a Reality, to implement a dynamic system, embodying a set of superior mechanism. More than 20 companies are doing their marketing activities of generator and motorcycle over the years whereas Butterfly has just started marketing and selling of such products. So they have two ways to move their potential customers to actual customer. One way

can be diverting the existing users and another can be attracting that group of potential customers who have not served yet. Butterfly is the market leader in the electronic goods like television, computer monitor, air conditioner, refrigerator etc. This means that they have created goodwill and brand value in consumers mind. If these positive points they can highlight and use effectively then Butterfly can also experience success with their generator and motorcycle