This assignment aims to provide

a clear perspective on the

PRAN-RFL group. It is one of
the
largest conglomerates of our
country. It was established in
1981 and is the largest
agribusiness in
Bangladesh and has pioneered it
by providing farmers with
guaranteed prices. PRAN Foods
is a
subsidiary of PRAN-RFL
group. In addition, the major
strengths of PRAN in
Bangladesh are
experience, large economy,
greater sources of finance
greater control over sources
of raw
materials, risk-pooling, huge
distribution network,
conforming to standards,
economies of scale,
creating potential market in the
new world. As it is a vast
merged company, we have
only
focused on the PRAN Rice
Bran Oil, which is under
PRAN food and beverages
category.
PRAN’s target customer is
medium to high income
groups. . In this report, we
provide an
overview and background of
PRAN-RFL group, we discuss
the current marketing situation
of
PRAN Rice Bran Oil. Our new
product, “PRAN Rice Bran Oil
Non-Stick Cooking Spray”,
aims
to target consumers who are
concerned about their fitness,
health and disease issues along
with
convenience while cooking. Our
objective in this report is to
introduce our PRAN Rice Bran
Oil
Non-Stick Cooking Spray,
which is currently not in the
marke
Department of Marketing MBA (Evening) Program

University of Dhaka

Assignment

Marketing plan for PRAN Rice Bran Oil

Course Title: Marketing Management

Course Code: MKT-521

Submitted To

Prof. Dr. Mijanur Rahman

Professor, Department of Marketing

Faculty of Business Studies

Submitted By

Abida Sultana Muna

ID: 41942050

Date of Submission: 30 Mar’22

Table of content
SL NO Topics Page No
01 Executive Summary 01
02 Introduction 02
03 Current market situation 02-04
04 Market Segmentation 04-06
05 Target market 06
06 Competitive research 07
07 SWOT analysis 07-09
08 Sales objectives 09-12
08 Price objectives 12
09 Conclusion 12
 Executive Summary
This report aims to provide a clear perspective on the PRAN-RFL group. It is one of the largest
conglomerates of our country. It was established in 1981 and is the largest agribusiness in
Bangladesh and has pioneered it by providing farmers with guaranteed prices. PRAN Foods is a
subsidiary of PRAN-RFL group. In addition, the major strengths of PRAN in Bangladesh are
experience, large economy, greater sources of finance greater control over sources
of raw materials, risk-pooling, huge distribution network, conforming to standards, economies
of scale, creating potential market in the new world. As it is a vast merged company, I have
only focused on the PRAN Rice Bran Oil, which is under PRAN food and beverages
category. PRAN’s target customer is medium to high income groups. In this report, I have
provided an overview and background of PRAN-RFL group; I have discussed the current
marketing situation, market segmentation, competitive research, SWOT analysis, objectives of
PRAN Rice Bran Oil. “PRAN Rice Bran Oil”, aims to target consumers who are concerned about
their fitness, health and disease issues along with convenience while cooking.

1
PRAN stands for Program for
Rural Advancement Nationally.
The establishment of PRAN was
based on the idea of providing
products that enhance health,
nutrition, and well-being of
society.
Through its journey, it has
contributed to increased rural
livelihood in its domestic
country,
improvement in the standard of
living, a boost of the national

2
foreign reserve and highly
focused
on employment of the people.
PRAN is keenly aware of its
responsibility towards the
country
and this apprehension is
reflected in its activities. PRAN
Food’s principal source of raw
food
material is contract farming. It
actively contributes perform an
economic improvement of rural

3
livelihood by employing
generation and overall
improvement of the
condition of the rural
localities. Growers are
provided with the best
quality inputs (seeds,
fertilizers, pesticides),
improved and advanced
cultivation techniques, access
to finance, crop insurance,
advanced
storage and collection system
and access to the international
4
market for their products. As
well as
providing necessary
workshops on how to run
the activities. PRAN believes
in providing
benefits that are sustainable in
the long-run. The provision of
tools, knowledge, and finance
nurture self-sufficiency. Also,
PRAN supports the farmers
working by providing them
with

5
financial assistance on every
level.
PRAN contributes to
government expenditure in
education, infrastructure
development, public
employment generation and
cash transfer under safety nets.
It is also one of the largest
corporate
taxpayers in the country. PRAN
is an organization that has
performed excellently not only
on a
6
domestic level but on a global
level as well. As an
environment friendly
organization, PRAN has
set an industry-wide
benchmark in its home
country by continuously
contributing to the
economy.
Company Background
[Isaba Ali, 1910836]
PRAN stands for Program for
Rural Advancement Nationally.
The establishment of PRAN was
7
based on the idea of providing
products that enhance health,
nutrition, and well-being of
society.
Through its journey, it has
contributed to increased rural
livelihood in its domestic
country,
improvement in the standard of
living, a boost of the national
foreign reserve and highly
focused
on employment of the people.
PRAN is keenly aware of its
8
responsibility towards the
country
and this apprehension is
reflected in its activities. PRAN
Food’s principal source of raw
food
material is contract farming. It
actively contributes perform an
economic improvement of rural
livelihood by employing
generation and overall
improvement of the
condition of the rural

9
localities. Growers are
provided with the best
quality inputs (seeds,
fertilizers, pesticides),
improved and advanced
cultivation techniques, access
to finance, crop insurance,
advanced
storage and collection system
and access to the international
market for their products. As
well as
providing necessary
workshops on how to run
10
the activities. PRAN believes
in providing
benefits that are sustainable in
the long-run. The provision of
tools, knowledge, and finance
nurture self-sufficiency. Also,
PRAN supports the farmers
working by providing them
with
financial assistance on every
level.
PRAN contributes to
government expenditure in

11
education, infrastructure
development, public
employment generation and
cash transfer under safety nets.
It is also one of the largest
corporate
taxpayers in the country. PRAN
is an organization that has
performed excellently not only
on a
domestic level but on a global
level as well. As an
environment friendly
organization, PRAN has
12
set an industry-wide
benchmark in its home
country by continuously
contributing to the
economy.
Introduction
Company Background

PRAN stands for Program for Rural Advancement Nationally. The establishment of PRAN was
based on the idea of providing products that enhance health, nutrition, and well-being of
society. Through its journey, it has contributed to increased rural livelihood in its domestic
country, improvement in the standard of living, a boost of the national foreign reserve and
highly focused on employment of the people. PRAN is keenly aware of its responsibility towards
the country and this apprehension is reflected in its activities. PRAN Food’s principal source of
raw food material is contract farming. It actively contributes perform an economic
improvement of rural livelihood by employing generation and overall improvement of
the condition of the rural localities. Growers are provided with the best quality
inputs (seeds, fertilizers, pesticides),improved and advanced cultivation techniques,
access to finance, crop insurance, advanced storage and collection system and access to
the international market for their products. As well as providing necessary workshops on
how to run the activities. PRAN believes in providing benefits that are sustainable in
the long-run. The provision of tools, knowledge, and finance nurture self-sufficiency. Also,
PRAN supports the farmers working by providing them with financial assistance on every
level. PRAN contributes to government expenditure in education, infrastructure development,
public employment generation and cash transfer under safety nets. It is also one of the largest
corporate taxpayers in the country. PRAN is an organization that has performed excellently not
only on domestic level but on a global level as well. As an environment friendly organization,
PRAN has set an industry-wide benchmark in its home country by continuously
contributing to the economy.

13
Vision

Improving livelihood.

Mission

Poverty & hunger are curses. Our aim is to generate employment and earn dignity & self-
respect for our compatriots through profitable enterprises.

urrent Market Situation

[Abida Islam, 1911227]
In this section of the report, we
will discuss the current market
situation of PRAN Rice Bran oil
with the help of a quick
assessment of the 4Ps analysis,
the market it targets (target
marketing)
and the competitive review to
help get a clearer and broader
14
picture of the brand itself, what
it is
and how it operate
Current Market Situation
In this section of the report, I will discuss the current market situation of PRAN Rice Bran oil
with the help of a quick assessment of the 4Ps analysis, the market it targets and the
competitive review to help get a clearer and broader picture of the brand itself, what it is and
how it operates.

4Ps Analysis
1. Product:
A product is something a
company sells, tangible or
intangible; it is something
which will
persuade and compel customers
to make a purchase through its
unique packaging and the image
15
it creates. PRAN produces
Rice Bran oil which falls
under the culinary category of
PRAN
Foods, where the principal
source of raw food material is
contract farming. PRAN Rice
Bran Oil
is an oil used for cooking, and
is renowned for being
extremely beneficial for your
health,
ensuring good quality while
also adding a mild flavor to
your favorite dishes.
16
4Ps Analysis:
1. Product:

A product is something a company sells, tangible or intangible; it is something which will

persuade and compel customers to make a purchase through its unique packaging and the
image it creates. PRAN produces Rice Bran oil which falls under the culinary category of
PRAN Foods, where the principal source of raw food material is contract farming. PRAN Rice
Bran Oil is oil used for cooking, and is renowned for being extremely beneficial for your health,
ensuring good quality while also adding a mild flavor to your favorite dishes.

. Price
Price is the value measured in
money term in the part of the
transaction between two parties
where the buyer has to give
something up (the price) to gain
17
something offered by the other
party
or seller. PRAN Rice Bran Oil
is new in the market and
although its brand goodwill is
high, the
oil is still not commonly used or
acknowledged in Bangladesh.
Hence, setting a price at high
level will not help PRAN to sell
its Rice Bran Oil. Hence, PRAN
follows a competitive pricing
strategy where the price is set at
the same level as the competitor
or anywhere near it. It is
18
currently available in three sizes
1 liter, 2 liter and 5 liters where
5-liter costs BDT 700. This
2. Price:

Price is the value measured in money term in the part of the transaction between two parties
where the buyer has to give something up (the price) to gain something offered by the other
party or seller. PRAN Rice Bran Oil is new in the market and although its brand goodwill is high,
the oil is still not commonly used or acknowledged in Bangladesh. Hence, setting a price at high
level will not help PRAN to sell its Rice Bran Oil. Hence, PRAN follows a competitive pricing
strategy where the price is set at the same level as the competitor or anywhere near it. It is
currently available in three sizes 1 liter, 2 liter and 5 liters where 5-liter costs BDT 700. This
avoids pricing competitions; however, PRAN must come up with other ways of competing and
promoting their Rice Bran Oil.

3. Place and Distribution

PRAN Rice Bran Oil can be
currently found selling on the
shelves of retail stores in areas
like
Gulshan, Banani and
Dhanmondi. It can also can be

19
found selling online making it
convenient
for both the buyer and seller. As
these areas are usually highly
health conscious and take into
considerations the daily intake
factors to remain healthy the
right customers are always
attracted.
Moreover, the convenience of
having everything being
available online in the dynamic
world of
today makes it even easier for
customers living in other areas
20
access the products. On coming
to
its distribution strategies,
PRAN-RFL group has
chosen to distribute PRAN
Rice Bran oil
through its current circulation
channel and for this, their goal
is to supply in the perfect spot
in
the ideal time.
3. Place and Distribution
PRAN Rice Bran Oil can be
currently found selling on the

21
shelves of retail stores in areas
like
Gulshan, Banani and
Dhanmondi. It can also can be
found selling online making it
convenient
for both the buyer and seller. As
these areas are usually highly
health conscious and take into
considerations the daily intake
factors to remain healthy the
right customers are always
attracted.
Moreover, the convenience of
having everything being
22
available online in the dynamic
world of
today makes it even easier for
customers living in other areas
access the products. On coming
to
its distribution strategies,
PRAN-RFL group has
chosen to distribute PRAN
Rice Bran oil
through its current circulation
channel and for this, their goal
is to supply in the perfect spot
in
the ideal time.
3. Place and Distribution

23
PRAN Rice Bran Oil can be currently found selling on the shelves of retail stores in areas like
Gulshan, Banani and Dhanmondi. It can also be found selling online making it convenient for
both the buyer and seller. As these areas are usually highly health conscious and take into
considerations the daily intake factors to remain healthy the right customers are always
attracted. Moreover, the convenience of having everything being available online in the
dynamic world of today makes it even easier for customers living in other areas access the
products. On coming to its distribution strategies, PRAN-RFL group has chosen to
distribute PRAN Rice Bran oil through its current circulation channel and for this, their goal
is to supply in the perfect spot in the ideal time.

4. Promotion
It is impossible for any
company to thrive, let alone
survive without any form of
promotion
being done, in fact it is
considered to be one of the most
important aspects of any
organization to
keep its portfolio going. PRAN
believes in heavy usage of
24
advertising through usage of
various
social media like Facebook and
Instagram as well as going for
rigorous advertising in
television
and full-length advertisements
posted on national newspapers.
4. Promotion

It is impossible for any company to thrive, let alone survive without any form of promotion
being done; in fact it is considered to be one of the most important aspects of any organization
to keep its portfolio going. PRAN believes in heavy usage of advertising through usage of
various social media like Facebook and Instagram as well as going for rigorous advertising in
television and full-length advertisements posted on national newspapers. This will help PRAN
attract and capture the right customers; i.e, social media will attract the younger audience who
are conscious about their weight for which the oil helps with boosted metabolism, middle aged
ladies and women raising families are most likely to get notified through television medium
constantly and this helps them think of a healthier lifestyle for their families and hence
influence them to make purchase. Thus, PRAN has managed to not only keep a strong
reputation, but have been able to effectively communicate and engage with its customers as
well.

25
Segmentation
[Maliha Mahjabin, 1910417]
According to World Health Organization (WHO), Cardiovascular diseases
(CVDs) are the
leading cause of death worldwide, taking an approximate of 17.9
million lives per year.
According to another report, the prevalence rate increased from 8.2% to 10.9%
from 1990 to
2017 for fatty liver diseases. The main cause for fatty liver diseases is eating
excessive calories
than recommended which promotes buildup of fat in the liver. It is reported that the
overall
prevalence of Non-alcoholic fatty liver disease (NAFLD) in Asia is now
approximated to be
29.6%. This percentage might have surpassed the percentage in Western
populations.
As mentioned earlier, oil contains a lot of calories, it is needed to
use it consciously. For
Bangladesh there are no local brands who make cooking sprays containing low
calorie, easy
usage and most of them are likely to be imported at a high price. Therefore, we
have decided to
segment our product based around availability, affordability and health
consciousness among our
target audience.
Geographic Segmentation:
Urban
Demographic Segmentation:

26
Age: 24-65+
Gender: All
Income: Upper Middle Class and Upper Class
Occupation: Job Holders, Homemakers, Businessmen/women, Gym
Instructors, Doctors,
Retirees
Psychographic Segmentation:
Market Segmentation
According to World Health Organization (WHO), Cardiovascular diseases (CVDs) are
the leading cause of death worldwide, taking an approximate of 17.9 million lives
per year. According to another report, the prevalence rate increased from 8.2% to 10.9% from
1990 to 2017 for fatty liver diseases. The main cause for fatty liver diseases is eating excessive
calories than recommended which promotes buildup of fat in the liver. It is reported that the
overall prevalence of Non-alcoholic fatty liver disease (NAFLD) in Asia is now approximated to
be29.6%. This percentage might have surpassed the percentage in Western populations. As
mentioned earlier, oil contains a lot of calories; it is needed to use it
consciously. Market segmentation of Pran rice bran oil based around availability, affordability
and health consciousness among the target audience-

Geographic Segmentation:

Urban

Demographic Segmentation:

27
Age: 24-65+

Gender: All

Income: Upper Middle Class and Upper Class

Occupation: Job Holders, Homemakers, Businessmen/women, Gym Instructors, Doctors,

Retirees

Psychographic Segmentation:

Personality Traits: Aware and

Health conscious
Lifestyles: Healthy, Active
Values: Quality, Brand statu
Personality Traits: Aware and
Health conscious
Lifestyles: Healthy, Active
Values: Quality, Brand statu
Personality Traits: Aware and Health conscious

Lifestyles: Healthy, Active

Values: Quality, Brand status

Behavioral Segmentation:
28
Purchasing Habits: People who
buy convenience products on a
regular basis
Spending Habits: People who
spend on healthy and quality
items, people who want to
maintain
fitness
Benefits Sought: Nutrition and
health benefits, lowering calorie
consumption, reducing
excessive
oil consumptio
Behavioral Segmentation:

Purchasing Habits: People who buy convenience products on a regular basis

Spending Habits: People who spend on healthy and quality items, people who want to maintain
fitness

29
Benefits Sought: Nutrition and health benefits, lowering calorie consumption, reducing
excessive oil consumption

Target market refers to a group

of potential customers to whom
a company wants to sell its
products and services. PRAN
Rice Bran oil targets all age
groups who are health
conscious, like
to maintain themselves and
remain healthy in general as
well as the patients who suffer
from
problems relating to cholesterol,
heart problems as well as the

30
human skin. PRAN Rice Bran
oil
understands the sentiments
behind these customers and
hence has a solution to all their
problems
through PRAN Rice Bran oil
itself. It is for the people who
are constantly trying to upgrade
themselves in terms of not only
health but also a balanced
lifestyle as well.
Target market
Target market refers to a group of potential customers to whom a company wants to sell its
products and services. PRAN Rice Bran oil targets all age groups who are health conscious, like
to maintain them and remain healthy in general as well as the patients who suffer from
problems relating to cholesterol, heart problems as well as the human skin. PRAN Rice Bran oil
understands the sentiments behind these customers and hence has a solution to all their
problems through PRAN Rice Bran oil itself. It is for the people who are constantly trying to
upgrade themselves in terms of not only health but also a balanced lifestyle as well.

31
PRAN Rice Bran Oil targets the
audience belonging to the upper
and middle class whereby 20%
of the country’s population live
in urban areas or in large cities
and consume 11.2kgs of edible
Rice Bran Oil per year. PRAN
Rice Bran Oil focuses on urban
population because of its high-
quality product and benefits
which strengthens the brand
32
image and ensures a high brand
equity
which makes the customers
keep coming back for more.
PRAN Rice Bran Oil targets the audience belonging to the upper and middle class whereby 20%
of the country’s population live in urban areas or in large cities and consume 11.2kgs of edible
Rice Bran Oil per year. PRAN Rice Bran Oil focuses on urban population because of its high-
quality product and benefits which strengthen the brand image and ensures a high brand
equity which makes the customers keep coming back for more.

Competitive Review
[Hridyta Alam, 1921393]
Rice Bran Oil is an incredible
source of the vitamins,
minerals, amino acids, essential
fatty acids
and antioxidant nutrients that
help fight disease and promote
good health. Rice Bran Oil is
33
superior salad, cooking, and
frying oil which leaves no
lingering after taste. The high
smoke
point prevents fatty acid
breakdown at high
temperatures. Its light viscosity,
allows less oil to be
absorbed in cooking, reducing
overall calories. It mixes better
in salad dressings and improves
the taste of baked goods,
providing cholesterol reduction,
nutritional and anti-oxidant
value.
34
Competitive analysis or
competitive research is a field
of strategies research that
specializes in
the collection and review of
information about rival firms.
The competition of PRAN Rice
Bran
Oil among its rivalries is pretty
high because Pran has been in
the market for a long period of
time. It has many competitors
like Fortune, Rupchanda, ACI,
IFAD and so many others in the
market.
35
‘Fortune’, brand was launched
in Bangladesh back in 2014 and
within a short time it became
popular in Bangladesh as well.
A revolution in the world of
cooking oils, rice bran oil is
naturally
enriched with multiple
nutrients that transform into
health benefits for every
member in the
family Fortune Fortified Edible
rice bran oil is a physically
refined rice bran oil with
numerous
36
benefits, having a high smoke
point makes the oil a
wholesome oil. Fortune is
leading the market
of rice bran oil in Bangladesh
though it is not a Bangladeshi
brand. Fortune is maintaining a
remarkable market share.
‘ACI’ brand is taking third
stage of market share in our
country and they are
maintaining their
form for a while. ‘Rupchanda’
brand is taking the fourth stage

37
of the market share in our
country
and they are not maintaining
their market so well. Their
market share is in a fluctuating
position.
Other company like Fresh,
IFAD, Meizan, King’s Olivolia
etc. currently taking over rest of
the
market share.
Competitive research
Rice Bran Oil is an incredible source of the vitamins, minerals, amino acids; essential fatty acids
and antioxidant nutrients that help fight disease and promote good health. Rice Bran Oil is
superior salad, cooking, and frying oil which leaves no lingering after taste. The high smoke
point prevents fatty acid breakdown at high temperatures. Its light viscosity, allows less oil to
be absorbed in cooking, reducing overall calories. It mixes better in salad dressings and
improves the taste of baked goods, providing cholesterol reduction, nutritional and anti-oxidant
value. Competitive analysis or competitive research is a field of strategies research that
specializes in the collection and review of information about rival firms. The competition of
38
PRAN Rice Bran Oil among its rivalries is pretty high because Pran has been in the market for a
long period of time. It has many competitors like Fortune, Rupchanda, ACI, IFAD and so many
others in the market. ‘Fortune’, brand was launched in Bangladesh back in 2014 and within a
short time it became popular in Bangladesh as well. A revolution in the world of cooking oils,
rice bran oil is naturally enriched with multiple nutrients that transform into health benefits for
every member in the family Fortune Fortified Edible rice bran oil is physically refined rice bran
oil with numerous benefits, having a high smoke point makes the oil a wholesome oil. Fortune
is leading the market of rice bran oil in Bangladesh though it is not a Bangladeshi brand.
Fortune is maintaining are mark able market share. ‘ACI’ brand is taking third stage of market
share in our country and they are maintaining their form for a while. ‘Rupchanda’ brand is
taking the fourth stage of the market share in our country and they are not maintaining their
market so well. Their market share is in a fluctuating position. Other company like Fresh, IFAD,
Meizan, King’s Olivolia etc. currently taking over rest of the market share.

PROJECT
Share
Fortune
SWOT Analysis
SWOT analysis is a useful
technique for understanding
your strengths and weakness,
and for

39
identifying both the
opportunities open to company
and the threats the company
face. What
makes SWOT particularly
powerful is that, with a little
thought, it can help a company
uncover
opportunities that a company
are well placed to exploit. And
by understanding the
weaknesses of
company, company can
manage and eliminate

40
threats that would otherwise
catch company
unawares.
SWOT Analysis
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis is a useful
technique for understanding your strengths and weakness, and for identifying both the
opportunities open to company and the threats the company face. What makes SWOT
particularly powerful is that, with a little thought, it can help a company uncover opportunities
that a company are well placed to exploit. And by understanding the weaknesses of company,
company can manage and eliminate threats that would otherwise catch company
unawares.

Strength
 Brand reputation value
 PRAN is one of the leading
food producers and exporters of
Bangladesh. PRAN

41
products are well known and
well consumed in Bangladesh.
It is one of the largest
conglomerates in Bangladesh,
exporting to 40 countries.
 It has strong research and
development capabilities that
are growing
 Good for health, helps
lower blood sugar levels and
improve insulin resistance
 People who are health
conscious prefer rice bran
oil as it is a healthier option
than
42
Soybean oils, it has antioxidant
and anti-inflammatory effects.
 Existing competitors of
PRAN lack the high-tech
machineries and their benefits
that
 PRAN exploits. PRAN
continues to upgrade their
machineries in comparison
to
competitors, which benefits
them with efficiency and
gives them a competitive
advantage. This improves
PRAN’s chances of success
Strengths

43
 Brand reputation value
 PRAN is one of the leading food producers and exporters of Bangladesh. PRAN products
are well known and well consumed in Bangladesh. It is one of the largest conglomerates
in Bangladesh, exporting to 40 countries.
 It has strong research and development capabilities that are growing
 Good for health, helps lower blood sugar levels and improve insulin resistance
 People who are health conscious prefer rice bran oil as it is a healthier option
than Soybean oils, it has antioxidant and anti-inflammatory effects.
 Existing competitors of PRAN lack the high-tech machineries and their benefits that
PRAN exploits. PRAN continues to upgrade their machineries in comparison to
competitors, which benefits them with efficiency and gives them a
competitive advantage. This improves PRAN’s chances of success.

Weakness
 Price is high compared


to other competitors
 Our quality of bottles is


made of high-quality plastics

which eventually increases
the
price
 Limited impact on


newly introduced products as

44
 it has lack of recognition,
which could
lead to lower-than-expected
profits. It may also result in a
short life cycle of a
Product.
 The large size of the


company and workforce may

result in management
inefficiency.
 Too many levels of


reporting in the
organizational structure
Weakness

 Price is high compared to other competitors

 The quality of bottles is made of high-quality plastics which eventually increases the
price
 Limited impact on newly introduced products as it has lack of recognition, which could
lead to lower-than-expected profits. It may also result in a short life cycle of a Product.
45
  The large size of the company and workforce may result in management inefficiency.

Opportunities
 The rural and local


markets need to be
tapped and make sure the
provision of the
products within time.
 Most of the people


living in remote areas, must

be given priorities and the
supply of rice
bran oil to general Groups
should be increased
Opportunities

 The rural and local markets need to be tapped and make sure the provision of the
products within time.
 Most of the people living in remote areas, must be given priorities and the supply of rice
bran oil to general Groups should be increased

46
 It needs to have consistent
and effective coordination
between the manufacturing
plants
and the local market to
provide the quality product.
  PRAN currently has a
strong brand image in
Bangladesh and neighboring
countries such
as India. It has the
opportunity to expand its
brand image to other
countries.

47
  Existing competitors of
PRAN lack the high-tech
machineries and their
benefits that
PRAN exploits. PRAN
continues to upgrade their
machineries in comparison to
competitors, which benefits
them with efficiency and
gives them a competitive
advantage. This improves
PRAN’s chances of success.
  Bangladesh is known as
the country of six seasons. It

48
 has an ideal weather for
agriculture
and hence, the cultivation
of fruits and vegetables
which results in abundant
raw
materials for the company.
 PRAN has an upper


hand in coordinating
effectively with
manufacturing plants and
local markets
 It needs to have consistent and effective coordination between the manufacturing
plants and the local market to provide the quality product.
 PRAN currently has a strong brand image in Bangladesh and neighboring countries such
as India. It has the opportunity to expand its brand image to other countries.
 Existing competitors of PRAN lack the high-tech machineries and their benefits that
PRAN exploits. PRAN continues to upgrade their machineries in comparison to
competitors, which benefits them with efficiency and gives them a competitive
advantage. This improves PRAN’s chances of success.

49
 Bangladesh is known as the country of six seasons. It has an ideal weather for
agriculture and hence, the cultivation of fruits and vegetables which results
in abundant raw materials for the company.
 PRAN has an upper hand in coordinating effectively with manufacturing plants and local
markets.

Threat
 Various other


companies are present in

market.
 The competitors offer


good quality products and

PRAN needs to maintain the
quality of
its products to govern over
the market.
 Other brands can


reduce the prices of their

50
 products and PRAN needs to
maintain good
rates of their products.
  High competition in
local markets from
competitors such as
Rupchanda which is a
famous brand for oil and can
be found mostly in all
households of Bangladesh,
Fresh,
ACI Nutrilife, Square,
Pusti etc. Many more
companies such
Bashundhara Group,
51
Meghna Group and Akij
Group are just stepping into
the market.
  Competitors may copy
products, introducing similar
flavors or types of products.
  There is pressure to
keep prices low relative to
competitors. Primary
ingredient of rice
bran oil is outer bran or husk
of rice grains so the process
in making this oil is a bit
costly

52
 therefore the cost may pass
down to its consumers.
 Economical instability


currently ongoing due to

COVID-19 pandemic
Threat

 Various other companies are present in market.

 The competitors offer good quality products and PRAN needs to maintain the quality of
its products to govern over the market.
 Other brands can reduce the prices of their products and PRAN needs to maintain good
rates of their products.
 High competition in local markets from competitors such as Rupchanda which is a
famous brand for oil and can be found mostly in all households of Bangladesh, Fresh,
ACI Nutrilife, Square, Pusti etc.
 There is pressure to keep prices low relative to competitors. Primary ingredient of rice
bran oil is outer bran or husk of rice grains so the process in making this oil is a bit costly
therefore the cost may pass down to its consumers.
 Economical instability currently ongoing due to COVID-19 pandemic.

Sales objectives

Rice bran oil is also an excellent

source of poly- and mono-
unsaturated fats (the “good
fats”).
53
Studies have shown that
consuming these unsaturated
fats can improve blood
cholesterol levels,
which can decrease your risk of
heart disease and type 2
diabetes. From a marketing
point of
view, the biggest lesson learned
is that there’s a huge gap in the
idea and innovation part of
PRAN Rice Bran Oil.
Every business has to make
profit to survive in the

54
competing market but there is
something
much more important than that
and many companies and their
marketing team fail to realize
this,
and that is brand name and
loyalty.
The main target is to become a
reliable name in the respected
fields. Profit will come
eventually
but more important is creating
our brand image and customer

55
loyalty. This will help us in
selling
more and always having an
ensured amount of sales.
Our plan is to increase our
market shares which are
currently at 5% to 10% within
this year. To
do this, we are planning on
diversifying our product line
5% more every year. This will
ensure a
big portion of the market. In
marketing, there is a saying,

56
“customers are king” so
customer
satisfaction is one of our top
priorities.
Despite having similar prices
with our competitors, PRAN
Rice Bran Oil lacks to attract
loyal
consumers. The problem
lies within the low existing
brand image amongst the
not loyal
consumers, since oil is a
convenience product, therefore

57
most of the consumers will
exhibit the
‘habitual buying behavior’,
which indicates they will
purchase the product that they
are very
used to.
Based on the issues we have
determined 4 objectives that
will be fitting for PRAN Rice
Bran Oil
in the long-run, these include:
 Building Brand Image
 Increase Brand Awareness
 Increase sales
58
 Increase market shar
Rice bran oil is also an excellent source of poly- and mono-unsaturated fats (the “good
fats”).Studies have shown that consuming these unsaturated fats can improve blood
cholesterol levels, which can decrease your risk of heart disease and type 2 diabetes. From a
marketing point of view, the biggest lesson learned is that there’s a huge gap in the idea and
innovation part of PRAN Rice Bran Oil. Every business has to make profit to survive in the
competing market but there is something much more important than that and many companies
and their marketing team fails to realize this, and that is brand name and loyalty. The main
target is to become a reliable name in the respected fields. Profit will come eventually but more
important is creating our brand image and customer loyalty. This will help us in selling more
and always having an ensured amount of sales. Pran’s plan is to increase our market shares
which are currently at 5% to 10% within this year. To do this, they are planning on diversifying
their product line 5% more every year. This will ensure a big portion of the market. In
marketing, there is a saying, “customers are king” so customer satisfaction is one of our top
priorities. Despite having similar prices with our competitors, PRAN Rice Bran Oil lacks to attract
loyal consumers. The problem lies within the low existing brand image amongst the
not loyal consumers, since oil is a convenience product, therefore most of the consumers will
exhibit the ‘habitual buying behavior’, which indicates they will purchase the product that they
are very used to. Based on the issues we have determined 4 objectives that will be fitting for
PRAN Rice Bran Oil in the long-run, these include:

 Building Brand Image

 Increase Brand Awareness
 Increase sales
 Increase market share

 RAN Rice Bran Oil is

already an established brand
that needs no introduction. It
has been a
59
 house hold name for more
than decades. To launch our
new product, our primary
objective is to
 acquire the capability an
established named with
accurate positioning.
 Our plus point is we don’t
need to invest heavily for
marketing this product as we
all know
 PRAN is already an
established brand across the
country but we have to keep
that in mind and
60
 must be cautious so that
our marketing efforts become
fruitful.
 Printed advertising
 Newspapers have always
been a great tool for any
product advertisement. It can
still be a good
 option to promote our
product in this modern/ high-
tech period.
 Television advertising
 Huge number of people
watch TV in a regular basis.

61
 And to advertise a good,
memorable and
 informative commercial
of our product can
highly increase its
awareness.
 Social media advertising
 In Facebook, Instagram,
Twitter, YouTube etc.
social media platform,
our popping up
 commercials and ads might
be a bit irritating but there is
also a high chance of getting
noticed by
62
 the spectators.
 Remarketing Campaigns
 This is a pro strategy for
boosting that good brand
awareness. Why?
Remarketing involves
 showing ads to users who
visited our site, but left
before converting.
Remarketing ads are placed
 all across the web on sites
our customers visit. Soon
they’ll be seeing our business
everywhere –

63
  on their favorite blogs,
while shopping online, etc.
This gives the impression that
our company is
 much larger (and has a
much bigger ad budget) than
it really is. And it's a great
way to increase
 your conversion rate

Building Brand Image

PRAN Rice Bran Oil is already an established brand that needs no introduction. It has been a
house hold name for more than decades. To launch our new product, our primary objective is
to acquire the capability an established named with accurate positioning. The plus point is
PRAN doesn’t need to invest heavily for marketing this product as PRAN is already an
established brand across the country but PRAN has to keep that in mind and must be cautious
so that the marketing efforts become fruitful.

Increase Brand Awareness

Printed advertising

Newspapers have always been a great tool for any product advertisement. It can still be a good
option to promote our product in this modern/ high-tech period.

64
Television advertising

Huge numbers of people watch TV in a regular basis. And to advertise a good, memorable and
informative commercial of the product can highly increase its awareness.

Social media advertising

In Facebook, Instagram, Twitter, YouTube etc social media platform, the popping up
commercials and ads might be a bit irritating but there is also a high chance of getting noticed
by the spectators.

Remarketing Campaigns

This is a pro strategy for boosting that good brand awareness. Remarketing involves showing
ads to users who visited the website, but left before converting. Remarketing ads are placed all
across the web on sites where customers visit. Soon they’ll be seeing the business everywhere
–on their favorite blogs, while shopping online, etc. This gives the impression that the company
is much larger (and has a much bigger ad budget) than it really is. And it's a great way to
increase the conversion rate.

Sponsoring

Another way to is to sponsor for

shows, games, cultural events to
boost the brand awareness. As
it is a new product in a more
compact packaging and has lots
of health benefits people who
are
65
more concerned about their
health and want to stay fit will
get more drawn to it
Another way to is to sponsor for shows, games, cultural events to boost the brand awareness.
As it is a new product in a more compact packaging and have lots of health benefits people who
are more concerned about their health and want to stay fit will get more drawn to it.

Increase Sales
PRAN current customers are
one of the best resources for
increased revenue. It is much
easier to
sell a client who is already
familiar with our product,
the quality of our product,
and are
comfortable using it. We
believe, if we can build a
66
relationship with our target
customers, and if
they consider our product as a
reliable product, then those
customers will recommend
others to
use our product.
We think our current customers
are a great asset in providing us
with client referrals. If we know
that a client is satisfied and
happy with our products, we
will ask the satisfied customers
for

67
testimonials and then use those
on our website and in sales
emails or newsletters.
We can offer our customers a
monthly pack with up-to 35
taka saving which can turn
many
customers interest towards our
product. Offering our
customers, a bit more in product
amount in
comparison to our competitor
brands.
Increase Sales

PRAN current customers are one of the best resources for increased revenue. It is much easier
to sell a client who is already familiar with PRAN product, the quality of product, and
are comfortable using it. PRAN believe, if they can build a relationship with their target
customers, and if customers consider their product as a reliable product, then those customers
will recommend others to use PRAN product. PRAN think their current customers are a great
68
asset in providing them with client referrals. If PRAN knows that a client is satisfied and happy
with their products, it will ask the satisfied customers for testimonials and then use those on its
website and in sales emails or newsletters. PRAN can offer their customers a monthly pack with
up-to 35 taka saving which can turn many customers interest towards their product. Offering
customers, a bit more in product amount in comparison to competitor brands.

Increase Market Share

Applying for a referral program
Increase Market Share

Applying for a referral program

It takes a lot of time and effort

to acquire new customers,
which is one reason why so
many B2B
businesses rely on referral
programs. In a banking study,
referrals were 18 percent more
likely to

69
stay with the company and
generated 16 percent more in
profits.
By getting these kinds of
benefits, our product can
increase market share.
More engagement with
customers
Numerous studies show the
correlation between customer
engagement and customer
loyalty. It is
one of the reasons social media
has evolved from an auxiliary

70
channel to a standard tool in
most
marketing programs.
PRAN has to figure out how to
increase market share online
and increase engagement which
will
helps us to maintain our current
share and turn more new
customers into loyal buyers.
Stay ahead of our competitors
Some of the largest companies
in the world achieved their
current positions because they
offered
71
something bigger or better than
the competitors. In this case it’s
clear that the slow and steady
never wins the race. So, we
have to pitch our offerings as
fast as we can before any of our
competitors.
Develop a unique brand
position
Unique products and services
are only the first steps. It also
requires the marketing team to
create
a distinct look, tone of voice
and brand personality—as well
72
as a plan to communicate our
new
position at every opportunity.
PRAN will consider these steps
and hope to gain a great market
share percentage for the long
run. The company has potential
to introduce high quality
cooking
oil at cheaper prices relative to
foreign products for people who
go through health issues such as
low-cholesterol oils e.g., Saffola
active oils which contains

73
Omega 3, Oryzanol and
Vitamin E.
Oils loaded with Omega 3 fatty
acids, can be termed as the
promoter of healthy hearts, is
perfect
for people who lead or want to
lead an active and healthy
lifestyle. No need to pour the oil
in
another container because of the
old bulky gallons as we are
introducing smart spray bottles
for

74
easy use and so that people
consume an appropriate amount
of oil.
It takes a lot of time and effort to acquire new customers, which is one reason why so many
B2B businesses rely on referral programs. In a banking study, referrals were 18 percent more
likely to stay with the company and generated 16 percent more in profits. By getting these
kinds of benefits, PRAN product can increase market share.

More engagement with customers

Numerous studies show the correlation between customer engagement and customer loyalty.
It is one of the reasons social media has evolved from an auxiliary channel to a standard tool in
most marketing programs. PRAN has to figure out how to increase market share online and
increase engagement which will helps them to maintain their current share and turn more new
customers into loyal buyers.

Stay ahead of our competitors

Some of the largest companies in the world achieved their current positions because they
offered something bigger or better than the competitors. In this case it’s clear that the slow and
steady never wins the race. So, PRAN has to pitch their offerings as fast as it can before any of
their competitors.

Develop unique brand position

Unique products and services are only the first steps. It also requires the marketing team to
create a distinct look, tone of voice and brand personality—as well as a plan to communicate
new position at every opportunity. PRAN will consider these steps and hope to gain a great
market share percentage for the long run. The company has potential to introduce high quality
cooking oil at cheaper prices relative to foreign products for people who go through health
issues such as low-cholesterol oils e.g., Saffola active oils which contains Omega 3 and Vitamin
E. Oils loaded with Omega 3 fatty acids, can be termed as the promoter of healthy hearts, is
perfect for people who lead or want to lead an active and healthy lifestyle.

75
Oil is a mandatory item in our
daily lives in order to cook food
in every household. There are
different brands and categories
of oils in our country. But there
are not much national brands
that
carries low cholesterol oils in
our country and specially in a
more compact packaging, so the
market is quite empty in this
sector. There are some other
foreign brand’s cooking oils
that are

76
now available in certain super
shops but they are mostly too
expensive to consume on a
daily
basis for a middle class or lower
middle-class segment. The
foreign cooking oils products
are
highly costly due to the import
taxes placed on them. We want
to capture this gap in the market
and introduce our new
product which is both
cholesterol-free and
reasonable in price for
77
everyone to consume. Since
there is little to no
competition in this sector,
and this is an
extremely healthy product
which will attract the health-
conscious people and gym-
freaks, it is
bound to make profit.
Pricing Objective
Oil is a mandatory item in our daily lives in order to cook food in every household. There are
different brands and categories of oils in our country. But there are not much national brands
that carry low cholesterol oils in our country and especially in a more compact packaging. There
are some other foreign brand’s cooking oils that are now available in certain super shops but
they are mostly too expensive to consume on a daily basis for a middle class or lower middle-
class segment. The foreign cooking oils products are highly costly due to the import taxes
placed on them. PRAN wants to capture this gap in the market and introduces new product
which is both cholesterol-free and reasonable in price compare to foreign brands to
consume. Since this is an extremely healthy product which will attract the health-conscious
people and gym-freaks, it is bound to make profit.

Conclusion
78
[Maliha Mahjabin, 1910417]
In the end, we can conclude by
saying that in the market place
of PRAN must look forward to
increasing the market share
of PRAN Rice Bran Oil
by implementing accurate
marketing
strategies. We have reached the
conclusion that if PRAN
successfully launches the new
Rice
Bran Oil Cooking Spray, it
could reap many benefits. This

79
is an untapped market with
huge
reach and potential. If PRAN
introduces this new version of
cookies in their product line, it
would benefit the vast amount
of people who have
cardiovascular diseases, fatty
liver issues,
people in fitness industry and
people who are health
conscious. A local brand has yet
to produce
non-stick cooking spray
products. PRAN should take the
80
opportunity and capture the
market and
enjoy first-movers benefits by
gaining a competitive advantage
which is attaining a strong
brand
image and customer loyalties
before other competitors jump
on the bandwagon. PRAN
should
promote its product in various
ways, such as social marketing
and awareness campaigns. Our
main aim is to make the
Bangladeshi people aware of
81
maintaining fitness and promote
healthy
lifestyle, along with combatting
certain health issues
Conclusion
In the end, I can conclude by saying that in the market place of PRAN must look forward to
increasing the market share of PRAN Rice Bran Oil by implementing accurate
marketing strategies. PRAN Rice Bran Oil would benefit the vast amount of people who
have cardiovascular diseases, fatty liver issues, and people in fitness industry and people who
are health conscious. PRAN should take the opportunity and capture the market and enjoy the
benefits by gaining a competitive advantage which is attaining a strong brand image and
customer loyalties .PRAN should promote its product in various ways, such as social marketing
and awareness campaigns. PRAN main aim is to make the Bangladeshi people aware of
maintaining fitness and promote healthy lifestyle, along with combating certain health issues.

82