ASSIGNMENT ON

DEVELOPING STRATEGIES

Submitted to-
Suman Saha
Lecturer
Department of Marketing

Submitted by-
Tanzina Ashraf Eka
1510106

Date of submission- 5th December, 2020

MARKETING EXPANSION GRID

Marketing has the main responsibility for achieving profitable

growth for the company. Marketing needs to identify, evaluate,
and select market opportunities and establish strategies for
capturing them. One useful device for identifying growth
opportunities is the product/market expansion grid.

It shows four growth options for business formed by matching

up existing and new products and services with existing and new
markets, as shown in:

Selecting Brand Name :

ISHPAHANI

ISPAHANI has a long history of providing the highest quality

tea while serving the community at large. Their teas are known
and appreciated throughout Bangladesh. After so many years of
serving their customers, Ispahanis are still dedicated to ensuring
that the customer enjoys the best, freshest and finest tea.

The Ispahanis have been involved in business in South Asia

since 1820. Mirza Mohammed Ispahani established the Calcutta
office of M.M. Ispahani & Sons in 1900. In 1947 the corporate
Head Office was moved to Chittagong, where it stands today.
With corporate offices in Chittagong, Dhaka and Khulna and,
through its tea, textile, jute, property, poultry and shipping
divisions, the Group employs approximately 10,000 people.The
company has an unrivalled distribution network of over 517
sales centers under 25 Divisional offices in Chittagong, Dhaka,
Dhaka North, Dhaka West, Pabna, Habiganj, Bogra, Barisal,
Comilla, Khulna, Kushtia, Mymensingh, Rangpur, Dinajpur,
Sylhet, Dhaka South, Dhaka East, Kishorganj,Tangail,
Chittagong South, Chittagong North, Jessor, Rajshahi and
Faridpur. It also owns four of the finest tea gardens in
Bangladesh: Ghazipore, Mirzapore, Zareen and Neptune, all of
which are equipped with state-of-the-art tea manufacturing
machinery.

Recently there are several industries and organization that came

in broad daylight in competition with Ispahani group and its
products. The market is getting saturated. Competition is
breathing on the Ispahani group’s neck. The potential strong
competitors are Taaza Tea, Kazi & Kazi Tea, HRC Tea and
some more small organizations who are specialized in several
particular products that are produced and marketed by Ispahani
group. These competitors have proved them to be equal or in
some case superior in product quality and design along with
customer service and pricing to Ispahani group.

So, the group have to take certain decisions about some new and
some existing products to be marketed in theexisting and new
markets. They developed a worksheet based on market &
product situation.

Existing Product: Ispahani Mirzapore Best Leaf Tea

 Existing Market: Bangladesh (All the divisions and some
important urban areas)

New Products: Ispi Powder Drink, Ispahani Bakery Dry Cake

New Markets: China, India, Hong Kong, Canada, Uk, France

Exist
ing Existing New
Mar
ket
Market Penetration Product Development

Product: Ispahani Mirzapore Product: Ispi Powder Drink,

Best Tea Leaf
Market: Bangladesh (Cities and
sub-urban areas)
Strength: Product quality,
design
Weakness: Price, Advertising
Ispahani Bakery Dry Cake
Market: Bangladesh (Cities
and sub-urban areas)
Strength: Product quality,
design
Weakness: Price,
Advertising
New

Mark
et Market Development Diversification

Product: Ispahani Mirzapore Product: Ispi Powder Drink,

Best Tea Leaf Ispahani Bakery Dry Cake

Market: China, India, Hong

Market: Bangladesh (Cities
Kong, Canada, Uk, France
and sub-urban areas)

Strength: Product quality,

Strength: Product quality,
designs
designs

Weakness: Price,
Advertising
After analyzing all the factors along with strength and
weaknesses, the company can come to the following decisions:

Market Penetration:

The company can be able to maintain the market share of the

current product by generating more and more ideas for
advertising, sales promotions for the customers as well as for the
sales team.Bundle price is one of the major forces for increased
sales. So they can offer bundle packages of several products
along with a compact price to gain the sales increase.

Market Development:

The company can develop their brands through targeting the new
market customers like the rural areas and some more foreign
customers. Some more steps can be taken like new product
dimension and packaging, new

distribution channel, different pricing policies for different group

of customers.
Product Development:

As current products are already saturated in the market, the

company should go for new products. So, Ispahani group
decided to manufacture varied range of food products such as
Ispi Powder Drink, Ispahani Bakery Dry Cake, Toast etc.

Equipped with the most modern machinery, their food products

are hygienically weighed, packed and sealed in a fully
automated process which is supervised by a team of experts. As
the company will be manufacturing totally in Bangladesh, they
will be able to provide their products with less price to attract
other consumers and importers by advertising and contract.

Diversification:

As Ispahani will have some new products Ispi Powder Drink,

Ispahani Bakery Dry, they can go for diversification by
marketing these products to abroad for a potential customers.
For the powder drink, th company has a potential
customer/market segment like kids and youngsters in the
country. And for dry cakes, they have potential customers like
youngsters, adults as snacks.

For new products in Bangladesh, Ispahani group can merge and

acquisition the existing sellers and through there distribution
channel, the company can gain the sales.