BUS 201: INTRODUCTION TO BUSINESS

Business Plan of

INNOVATIVE MINDS CONNECTING CUSTOMERS TO BRAND

Submitted by:

Name ID
Tareq Nur Al Chowdhury 2022732
Shahad Mostafa 1910789

Rafique Yeasdan Bhuiyan 1910451

Theophil Joy Dewri 2021782
Farzana Akter 2021788

Department of BBA
School of Business
Section: 07
Course Code: BUS201
Course Title: Summer-2020-BUS201-7

Submitted to:

Mr. Md. Awal Al Kabir

Lecturer (Adjunct Associate Professor)
School of Business and Entrepreneurship

Date of Submission: 05-10-2020

INNOVATIVE MINDS CONNECTING CUSTOMERS TO BRAND
 Executive Summary
Evergen is a digital agency based in Dhaka, Bangladesh. We believe in the mantra of
“Less is More”. We build leading brands in the digital universe. Provides creative
strategies with data, content and technology customized solutions including web
and mobile applications, conversational AI powered chatbots, screens in public
buses to sell ads, box creative marketing solutions to brands and so on. We
always seek to keep ourselves updated with the ever-changing digital world. Our key
strength is developing and deploying meaningful digital contents to engage with the
right audience.

Customer satisfaction is the main driving force for the advancement of Evergen.
Keeping customer priorities ahead of everything else, we design and develop the
solutions of their preference in reality. Our market is being consistently chased by
businesses with thoroughly digital-oriented mindsets. In such landscape, not being
digitally focused can create immense gaps between brand and customers.

We at Evergen we help reconnect with consumers through provision of relevant brand

insights and targeted digital outreach that all in one strive to help business thrive.
Evergen working towards leveraging brand equity with the most effective and efficient
solutions that are widely based on actionable insights and deeply nurtured brand
stories. Our team jointly crunches data and works on understanding business,
consumers and the overall business landscape only to find solutions that are not merely
reliable but also relevant to the evolving digital world.

It is a partnership business which will start its operation from October 2020. Its Head-
office will be positioned in Niketon. It has a long-term vision for delivering a bigger range
of quality digital services clients. Our Evergen digital agency is a startup company. We
are hopeful that we will be able to grab our targeted customers' attention and will be
able to become a successful company. Our Evergen will be go through a systematic
process for operational purpose. To run this whole operation process, we will consider
three aspects. First of all, we will find out the front stage and backstage operations
which are the part of general approach to the business. We will also determine the
geographic location of the business and the facilities and equipment need in our
business. Product’s development status and task, challenges and risks and intellectual
properties of the product. Management team and personal: The qualification of the
management team and their responsibilities. In financial projection. So, this company
shows a very promissory achievement in the future.
 Table of Contents
TOPICS PAGE NUMBERS

Company Background 1-2

Business Operation 1

Mission 2

Vision 2
Operating industry and legal
2
form
SWOT Analysis 3

PESTEL Analysis 4

Management Team 5-6

Organogram 5

Team 6

Products & service Description 7-10

Marketing Plan 11-13

Finance Plan 14-15

Conclusion 16

Referencing 16
 COMPANY BACKGROUND

Evergen will be formed in October 2020 by Five partners at Niketon, Dhaka. We

can say, we are the first mover in this service, though there are some similar
types of service provider existing in the market, but we are able to be
differentiating our self from themselves. We are presenting bundle of services in
a single package. In the following plan, we are attaching our marketing plan,
target market, operation process, financial analysis and a brief description about
our management, which will provide the crystal clear idea about our this unique
service.

BUSINESS OPERATION
Evergen is a capable of providing creative strategies with data, content and
technology customized solutions including web and mobile applications,
conversational AI powered chatbots, screens in public buses to sell ads, box
creative marketing solutions to brands and so on in Bangladesh. It is a
partnership business which will start its operation from October 2020. Our Head
office will be located in Niketon. It has a long-term vision for supplying a wide
range of quality full and professional digital solution for brands to connect and
communicate customers.

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MISSION
Our goal is to make strong Brand by helping them to communicate with customers in
effective manner. We are a band of tech passionate people who are continuously
seeking new ways to solve problems that matter. What motivates us is that we care
about perfection and that our team has the guts. We use information technology every
day to optimize lifestyles, businesses and way of thinking and our mission is to ensure
the highest utilization of it.

VISION
Our vision is to harness the full potential of engineering to establish an ever-growing
digital growth and strong branding for our clients. Our mission is to become the market
leader in next 10 years by serving clients.

OPERATING INDUSTRY
With brand management, our strategic planners will formulate your ideal digital strategy,
to position brand in the right way and reach out with the right contents to the right people
at the right time & place.

These days marketing is much more strategic as consumers are both willing and able to
access a broad spectrum of products in a short period. When it comes to B2C outreach,
while Evergen may still be responsible for branding and customer research, we are
more likely to take an active lead-generation approach than the traditional agency’s role
of developing a campaign.
With the Internet, because consumers are so much savvier these days, marketers have
to be too. And most people who are running their businesses don’t have time to learn or
keep up with everything that’s needed for an effective campaign.

LEGAL FORM
The “EVERGEN” will be a partnership form of entity. The Office of the entity will be at
Niketon.
 SWOT ANALYSIS
STRENGTHS WEAKNESSES

Knowledge of message and Costs of a full time dedicated

brand team

Superficial knowledge of online

Cost efficient
environment

Thorough understanding of
High risk
specific market and customers

Better Service -

OPPORTUNITIES THREATS

Possibility of huge market Future competitors

Subsidy Business Costs

Easy expansion Unfamiliarity with the activity of

the organization

Online expertise New technology, service and

idea

Specific knowledge and Changing customer attitudes

experience
 PESTEL ANALYSIS OF EVERGEN

TECHNOLOGICAL

T
*New/disruptive tech
*Device and platform
use
*New technical
POLITICAL
*Regulation of
competition
*Industry regulation engineering processes

P E
*Fiscal policy
ENVIRONMENTAL
*Sustainability
*Financial practices
*Ethical sourcing
ECONOMIC *Data handling and
*Consumer confidence user
*Interest rates
*Inflation

E L
privacy practices
ENVIRONMENTAL
*Employment law (e.g.
minimum wage, living
wage)
*Health and safety
SOCIAL regulations

S
*Changing *Environmental
demographics regulation
*Consumer trends
*Behavioural change
 MANAGEMENT TEAM
ORGANOGRAM
CORE TEAM MANAGEMENT

TAREQ NUR AL CHOWDHURY CEO

BBA in Marketing, IUB

SHAHAD MOSTAFA
DIGITAL MARKETING TEAM LEAD
Bsc in CSE, IUB

RAFIQUE YEASDAN BHUIYAN DIGITAL MARKETING MANAGER

Bsc in CSE, IUB

THEOPHIL JOY DEWRI DIGITAL CREATIVE MANAGER

Bsc in CSE, IUB

FARZANA AKTER
HR & ADMIN MANAGER
BBA in HRM, IUB
OUR SERVICE:

The world has expeditiously adapted to the use of internet. It has evolved as a huge
forum for interaction, trade, and communication irrespective of global boundaries. This
assessment will portray a clean overview about the digital strategies that are applied for
enhancing the business activities of the organizations. Dhaka city is a very busy place
for leaving. Nowadays, everyone is so busy that they don’t have enough time to go for
shopping and buy their necessities. Everyone has their own taste on products and to
buy them, they have to first see them and has to know what these products are capable
of and does this fulfil their needs. In this situation, here our company “Evergen” comes
and try to fulfil their wishes. We use digital tools for communicating value to our
customers. That means we create Advertisements of products and let people know
about it by sharing on social medias like Facebook, Instagram, YouTube, Snapchat and
so on. Our focus is on introducing the product to the consumers.
We also create graphical video advertisements to attract our consumers so that they
can learn about the product and feels free to buy them without any hesitation. For
creating videos, we have well experienced and professional people working with us. For
their work, people get attracted to that product and a feeling grows in the consumer to
buy that product.

We also have our own Chatbot (Chat Robot). In here, it interacts through instant
messaging, artificially replicating the patterns of human interactions. Short for Chat
Robot, a chatbot is simply a computer program that stimulates human conversations. It
happens via written messages or voice. It can answer questions formulated to it in
natural language and answer like a real person would. If a person wants to know about
any product, our chatbot can help them by giving the information. Consumer can also
order products from here; they just have to add the product in our chatbot and that’s it!
The product has been ordered. It is a very easy way for everyone to know and order
their desired product and time efficient. We also have graphical design experts and with
the help of them, we create very intelligent graphical video advertisements of products
of companies and share them into social medias. It helps people to know about the
product.
We also have a group of Marketing Consultancy. Every company needs to know how to
make their products known to the customer and what must be done to sell products
effectively. In this case, our Marketing Consultancy group members helps them by
sharing their strategies which is helpful to the company.

We also work on campaigns which is very helpful for the companies prominence as well
as to promote their product. In Dhaka city, majority of people uses local buses for
transportation. Dhaka city is a very busy city and traffic congestion issue is a big
problem here. So, people are more likely to take local buses more than their private
cars. So, we use this chance to promote companies’ product. We have a deal with 100
local buses,
and we use 20-inch LCD TV in where we showcase the product details and
advertisements. It helps people to know about those products. That is how we help
people by letting them know about the product, it is specialty and everything.
In this busy, industrious city, It is very hard for our consumer to go in market and see the
products by themselves because they don’t get enough time after their job or business
work. They don’t get any relaxing time. So, we took that responsibility to show them
what they need. It is our responsibility to show them every detail they need to know
about their desired products. We want to solve their problem by using this strategy. We
also get helps from the people who works with us and helps making interesting
advertisement posters and graphical video advertisements. They are well experienced
and makes adds professionally. So, we can guarantee to our company that failure is not
meant for us. Success is assured.
MARKETING PLAN:
Our company targets B2B Businesses, so our most prior target is to reach our target
customers by grabbing their attention.

Target Market
A marketing plan is an operational document that outlines EVERGEN will implement to
generate leads and reach its target market. Evergen will take target market strategy. In
target marketing strategy we want to attract the customer since our Chat Bot and
Advertisement in bus is a new product in the market. To attract the customer we will
introduce a trial plan. In trial plan we will offer in trial to customer to try the product and if
they like it then they will buy the product.

Pricing Strategy

When we set a price for a product, we need to know about the customer income and
also, competitors price. So, we need to fix the price of the product for the comfort of
customer. We can’t charge high price because customer prefer low price with good
quality. If the competitors charge low price, then we might lose customer so it will better
set price according to competitors price or less. If we charge low price, then we can get
customer and if they like the quality of the product then they will come again and again.
To set a price it is a big factor for the business because the business came to the
market for profit nobody want loss. Most of the business they use cost plus pricing
because when the customer buy the product they already make the profit. Because
when they set price along with profit the price of the product increases so then customer
can’t afford it. So the best option is competition pricing, the price set by competitors
because they know about customer preference along with they set price so if we set
price lower or less then we get customer.

Promotional Tools
To promote about our products through TVC, Newspaper, Magazine, Social media.
Since it’s our new product in the market we don’t want to make huge budget on TVC. To
promote our product through TVC it will cost higher we want to reduce cost if we spent
too much money on TVC then our expense will increase and if we can’t sell our product
then expense increases then sales and finally net loss. So it’s a first time so we need to
use money calmly. We don’t want to spent unnecessary things. We will spent when we
need. Since we want to reduce cost so we prefer newspaper, magazine, and social
media are best option to promote our product. Nowadays social media is best option to
promote because it will reach faster to the customer because everybody use Facebook,
YouTube. When customer sees about our product and they can know about the
description of the product. We interpret in a way so that customer can attract easily
towards our product.
Direct Marketing - In direct marketing company directly communicates with customers
by going to their offices. Our management team includes 5 members. 2 of our members
will go as representatives of our company to the offices. To make them aware about our
service, how we work, the facilities & benefits they are going to get and also about the
pricing. We will use digital devices to show our service. This direct marketing also is
known as “One to One Marketing.”

Freebie Marketing - 2 of our member will take part in direct marketing. Freebie
marketing is also one type of direct marketing. In this strategy, we will offer one free trial
of our service. So that, they can evaluate our performance and give us the next
contracts of their companies.

Word of mouth Marketing- Word of mouth marketing strategy keeps the most
significant impact on any kind of business. At the point when any service is good
enough then this information pass through person to person by oral communication.
Customers love to share to the world, the brands they adore. In this way, it is our
responsibility to serve our customers with the best service, which they deserve.

Seasonal Marketing - Seasonal offers offer an awesome approach to meet new

customers. In some cases, these offers can be real changes of climate and national
occasions. Such as- Eid-ulAdha, Eid-ul-Fitr, Puja etc. We will give various offers to our
consumers. Discounts, Raffle draw or Outdoor tour can be the main offer and prize for
our respected customers.

Social Media Marketing - Like online marketing, another new platform of marketing is
social media marketing. Social media sites like- Facebook & Twitter offer the open door
for startup businesses. So, we will open a Facebook page & Twitter account to
communicate with our customers.

Relationship Marketing - It is the most vital technique. Rather than trying to sell our
service outside we will concentrate on building associations with our customers. So that,
we can retain our existing customers for a long run. It will make the company sustain for
a long run. Along with this, we will also give lucrative offers for our new customers to
attract them.
Customer Relationship Management (CRM)

Customer Relationship Management (CRM) is a term that refers to practices,

procedures, and advances that organizations use to oversee and examine customer
connections and information all through the customer lifecycle, with the objective of
improving business associations with customers, helping in customer retention and
driving sales growth. CRM framework is essentially the contact points between the
customer and the organization. We will use company's website, telephone, live chat and
social media to communicate and maintain communication with our customers. It also
helps us find out the detail information of our customers' personal information, purchase
history, buying preferences and concerns. Which will help us to understand our
customers' personal traits and their demands.

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FINANCE PLAN

The main purpose of the business is making the profit. If we can't make any profit, there
is no point to do all this effort regarding marketing and management side. In order to
know the financial performance. We have made pro forma income statement. We have
to make the simulation for 2 years so that we can predict what will be the financial
performance of the business and this business will be attractive to the investor or not.

In our income statement, we can see that in the first years we are facing Tk. 65,613 loss
but as a start-up company, it is normal. But in the 2nd, we are focusing a good amount
of positive profit which is very good news for the company. We also calculated our
depreciation expensed and adjusted in our income statement to make it more realistic
but as a new company we do not necessarily have to do it.

Source of Finance
Short term of finance will be used as source of finance. As our company is a digital
marketing company our operation cost will be higher. This money will be provided Taka
50 Lacs from owners 10 lacs from each partner and 20 Lacs from friends and family.

Page | 14
 INCOME STATEMENTS
Year 1 Year 2
Revenues 3,575,000 5,587,800
Cost of sales 1,430,000 2,294,545
Gross profit 2,145,000 3,293,255

Marketing and Advertisement 30,000 39,000

Bank charges 40,496 52,645
Compensation & benefits 46,643 60,636
Insurance 34,000 44,200
Lease, facilities 366,000 475,800
Legal & professional 22,500 29,250
Licenses & fees 5,500 7,150
Maintenance 6,000 7,800
Miscellaneous 100,800 131,040
Office Payroll 322,700 419,510
Professionals 889,720 1,156,636
Manager 288,504 375,055
Utilities 14,200 18,460
Website Maintenance 10,800 14,040
Total operating expenses 2,177,863 2,831,222

EBIDTA -32,863 462,033

Depreciation 5,000 10,916
Operating profit/Loss -37,863 451,117
Interest expense 1,000 2,300
Earnings before taxes -38,863 448,817
Income taxes 25750 44,882
Net income/Loss -65,613 403,935
Conclusion
We are trying to solve the market problem by providing our Digital Marketing Service. In this
report, we are able to show how dedicated we are to do it. If we are able to do a very through
market research, implement our hypothesis and make our plan relisting, we are confident we can
grab the opportunity. We have provided a brief idea about our marketing strategy, operational
plan, management and conduct a financial analysis to make it more realistic.

Referencing
1) http://magnitodigital.com/services/

2) http://magnitodigital.com/about/

3) https://hypedhaka.com/digital-marketing-and-its-scope-in-bangladesh-2020/

4) https://adntel.com.bd/blog/digital-marketing-in-bangladesh/