Karnatak Law Society’s

Gogte Institute of Technology

(Approved by AICTE, Permanently Affiliated and Autonomous Institution under
VTU Belagavi)
Department of MBA
“Jnana Ganga”, Udyambag, Belagavi – 590008, Karnataka, India

PROJECT WORK ON

Marketing Management
“A Marketing Plan On Foster Protein Milk Shake”

Submitted by
NAME ROLL NO
SWATI GAVADA 104
PRIYANKA HOLKAR 62
SONIYA ANANTPUR 84
VINAYAK PATIL 113
SHREEKUMAR KADAPURE 81

Academic Year: 2022 - 23

Sl.No. Topics

1 Executive summary

2 Introduction

3 Situation Analysis

4 Swot Analysis

5 Competitor Analysis

6 Marketing Stratergy

7 References
 Executive Summary

For the group project, I have worked with a very distinctive beverage category, which is “SPORTS
DRINK”. Since I had to work with local market of Bangladesh, hence I tried to make such offering,
which will be reasonable for target customers & at same time will be way more beneficial for
health. The name of our sports drink is “FOSTER PROTEIN” & the tagline is “ALL DAY STAMINA”.
Since in our country, I don’t have any local sports drink like this, so I created a plan to produce
this product. Besides of that, I thought of customers, who are willing to buy “sports drink”.
Because they are health conscious & those as Ill who are looking for a perfect he
 Introduction

Foster Protein is a new sports drink in the market with the promise to boost & energized people under
the tag line “ALL DAY STAMINA”. It contains legal stimulants, vitamins and minerals including various
forms of ginseng & high levels of sugar and glucose. The Foster Protein is primarily focusing on sports
supplement nutrition. Since sports drink market in Bangladesh lacks behind compare to the other drinking
sector, Foster drink will be sharp enough to meet the need. It is non-alcoholic drinks that serve the
purpose of an energy-booster and revitalization. It usually emphasizes on energy derived from the
calories. Since in our country, a good number of people are getting involved in sports. Due to its warmness
usually, people tend to face lack of energy & stamina. Our product stands to make them Ill energized.
Hence not only sports man, people after their work out can take it for having good stamina. It has been
designed in such a way that is contains high level of ingredients such as whey, Casein, Soya protein, Sugars,
Vitamin B3, B6 & B12. This decrease in the carbonated drinks market and the high growth of the energy
drink market can be attributed to the positive changes in the perception of health and fitness among the
Bangladeshi youth. At the beginning our ambition is to become the most professional, successful and
attractive sports drink company in Bangladesh. I are aiming to start a new sports drink to sell in the district
market. Our major competitor in market Tiger, Speed, Black Horse, Coke & other few Ill-established rivals
in the market. why I choose to serve this customer segment. In this report, I tried to showcase this new
sports drink & all required activities to launch the product
 Situation Analysis

Mission statement

I want to serve a healthy sports drink to the customers. Especially who are looking for stamina,
refreshment, energy & a good beverage for their health.

Vision

Our vision is I will be the market leader within 5 years by selling a healthy product and via
grapping customer satisfaction.

Market Summary

In simple word market means the group of existing and potential customers. Simultaneously so
many factors are active in the market. Here I are focusing on the beverage market and I will
segment our target customers. Here I will discuss that why this new product is a good idea, what
market conditions are and who our competitors are.

Segmentation

So, I came up with a new sports drink called “FOSTER PROTEIN”. I wanted to segment different
customer base on basis of their characteristics. Market segmentation involves the identification
of subgroups of consumers with similar wants and buying requirements. For identifying market
segments, I found out 3 bases.

Geographic Segmentation: I want to launch our product initially in 3 regions. Dhaka, Gazipur and
Chittagong. I want to launch our product in Retailers shops, Super shops Bus, Airport &Train
stations. I want to show case our product in numerous sports’ federation center, so that I can
grab the attention of all Athletes in our country.
Demographic Segmentation:

AGE: our age group is individuals betIen 16 to 40 years of age. Because I like to have customer
who is at least more than 16 years age. Moreover, I are targeting teen agers & youth people.
Income: Our objective individuals are pretty much like other universal drink organization. For
instance- if a person can buy Gatorade at taka (200+-) then I belief that people from the same
income group can be our target customer. Since our product will cost you only 150tk/500ml &
80tk/250 ml-Subsequently people from upper middle class & higher class, all of them are our
target customer.

Occupation: Athletes (Cricketers, Footballers, Hockey players, shooters, Sprinters & so on). At
that point I have individuals like Service Holders and from a wide range of callings.

Psychographic Segmentation:

Lifestyle: In this segment I are choosing mostly people like Athletes & those who are associated
with higher physical work.

Core Values: According to this, there are similar customers who share common objective to
purchase. Thus, the core value of “FOSTER PROTEIN” is to provide higher health benefit & provide
stamina. Those who keep this thing in mind might want to purchase our product

Personality Type: Our targeted customers are falling in “Ambitious Personality”. Since these
types of people are more or less educated & they know about what they are purchasing & taking
as beverage.
 Targeting

Undifferentiated marketing

In this part I are targeting 16 to 40 years of individuals who are health conscious & searching for
a drink which might help them keeping their fitness. It will give higher health benefits, alongside
taste of different flavor. Since our young people, youths & even middle-aged people are positive
towards taking sports drinks, so I are taking Undifferentiated marketing for target marketing
strategy, as in light of the fact that I are targeting a mass population.

Positioning

Product Name: “FOSTER PROTEIN”

Tagline: ALL DAY STAMINA

I are offering best sports drink in Bangladesh with higher health benefit. By ensuring proper
nutrients, I want to be most trusted brand for Athletes or anyone who has concern of his own
health.

Market consumer’s need Sports drink is mostly favored by athletes, sports people, those who go
to gym & other experts. Athletes and sports worker consume sports drink to recharge energy,
stamina, water and mostly stamina. It is used mostly during before and during exercise. The key
goal of consuming Sports drink is to recover the nutritional contents which are lost during sIat
and also to increase the energy metabolism in human body. So, these days in Bangladesh the
demand for flavored sports drink is significant. Because people are now more health conscious
& aware of different affects that anyone may have by taking any other sort of beverage or energy
drinks. I think that regular beverages like Pepsi or Coca-Cola doesn’t give the customer enough
nutrients. On the hand energy drinks such as Tiger or speed have a bitter taste with very low
health benefits.
Markets trends

From the recent trend I have noticed that there is a good demand of energy drinks and the
beverage industry has expanded in last couple of years in Bangladesh. Now some of big
Bangladeshi company like Pran, Akij and globe are competing Ill with the foreign soft drinks
company with their own product (Mojo, Uro Cola, Fizz Up and so on). From market trend it is
clearly indicates that there are many customers who are ready to spend for the exact product. I
can see it from their spending of money for buying energy drinks. I just need to give the right
stimuli to our target customers to buy our sports drink “Foster Protein”. Even players or sporting
clubs are spending money to but different branded beverage product in the time of games.
Beside that the general people are spending money to buy stimulated drinks (Energy Drink) to
refresh and reenergize their body. Even it is happening in rural areas of Bangladesh. But initially
our target is the urban area and this trend showing a good prospect of our product.

Market growth

Since I have a plan to launch a Protein shake drink so the sports sector of Bangladesh is very
significant for us. If it gets more popular the young generation will engage more in sports
professionally or nonprofessionally. Presently cricket has become number one game in our
country also the recent success of cricket, encourages the people especially the young generation
more to engage in cricket. The authority is working for the improvement of the football. On the
other side, in hockey, golf and in other sports are also becoming popular. Not only young age but
also the grown-up people (male & female both) go to the gym to keep them fit. This indicates
that sporting mentality is increasing in human mind. In Bangladesh now people are getting
interested in mountaineering (After conquering the peak of Everest by Bangladeshis for the first
time) and other adventurous things. Which shows a good prospect for our sports drink “Foster
Protein”. If this trend continues then the market will expand more which will be profitable or our
product.
 Swot Analysis

Strength: 1. 1 st local sports drink in Bangladesh 2. Little competition in this Sports beverage
category. 3. Reasonable price compared to another international brand, like Gatorade 4. Strong
distribution support from retailers, because I are giving incentives to retailers Iakness: 1. Less
control on product quality 2. Initially it’s expensive to set distribution network in remote areas of
every district 3. Limitation of supplier 4. Inflation Dollar rate fluctuation 5. Customs and Duty 6.
Customer readiness Opportunities: 1. Growing customer base for Sports drinks 2. Health
conscious customers are tending to avoid regular soft drinks & energy drinks 3. Specifically, this
product is appealing to teen agers & youth people 4. Athletes are always looking for proper sports
drinks Threats: 1. Uneducated customers through the society (who don’t know actually what a
sports drink does?) 2. Rural people’s perception about a totally new health drink Initially it’s very
difficult to overshadow competitors by using promotional tools.
 Marketing Strategy

Marketing strategy is one of the most important tools to fuel the business growth. A
marketingstrategy refers to a business's overall game plan for reaching the prospective
consumers and turning the consumers into customers of the products or services that the
business provides. If I fall our business under BCG Matrix, I can place us in Question Marks right
now as I don’t have any share in the market, but I have a great opportunity to grow in the market
as a local protein drink company. I can easily grow if I invest and introduce our product
strategically. I have a plan to invst our cash to capture a broad market in order to be in stars. As
currently I don’t have any local protein drink in market so it will much easier for us to grow and
to reach to a large number of customers. After being successful in initial market I will intrduce
our product to new distribution channels and to new geographical areas. If I fall our business
under BCG Matrix, I can place us in Question Marks right now as I don’t have any share in the
market, but I have a great opportunity to grow in the market as a local protein drink company. I
can easily grow if I invest and introduce our product strategically. I have a plan to invst our cash
to capture a broad market in order to be in stars. As currently I don’t have any local protein drink
in market so it will much easier for us to grow and to reach to a large number of customers. After
being successful in initial market I will intrduce our product to new distribution channels and to
new geographical areas.
Diversification Strategy:

Diversification is basically a from of business development. Diversification is one part of the four
main growth strategies defined by Igor Ansoff’s Product/Market matrix. The other three
strategies in this matrix are market penetration, product development, and market development.
Diversification strategy refers to entering a new market or industry which the organization is not
currently in and also creating a new product for the new market. As I mentioned before, in
Bangladesh’s market I don’t have any local proper protein drink company and the market is also
new in Bangladesh’s market context, so I need to acquire new skills, new techniques and new
facilities to introduce ur drink in market. This startegy is associated with higher risks as it requires
us to take on new knowledge and experience outside it’s esisting products and markets. Based
on our initial success in market I may take new strategies in order to expand our market and
revenues. 6.1 Product Foster Drink shall cater the needs of the consumers who are need of rich
protein beside their daily diets at an affordable price. A protein drink that shall be able to serve
the purpose of healthconscious consumers, who are looking for substitute of expensive foreign
brand protein shakes in the market, and also under privileged people who are deprived from
protein in their daily diet. This category of drink is highly popular and accepted by the urban
population in the developed countries. Since, the population of Bangladesh, mostly the young
ones are deprived from nutrition, FOSTER DRINK can be easy and affordable solution for them as
Ill. Quality and Type - Since the product is designed cater the consumer group of all age group,
Product line extension method can be introduced, if the market response is favorable in the first
year. Different tasty blends and flavors shall be incorporated with drink, for the acceptance of
young generation. Alongside, sugar free blend can be incorporated targeted to the consumers
with diabetes.
Product

Foster Drink shall cater the needs of the consumers who are need of rich protein beside their
daily diets at an affordable price. A protein drink that shall be able to serve the purpose of
healthconscious consumers, who are looking for substitute of expensive foreign brand protein
shakes in the market, and also under privileged people who are deprived from protein in their
daily diet. This category of drink is highly popular and accepted by the urban population in the
developed countries. Since, the population of Bangladesh, mostly the young ones are deprived
from nutrition, FOSTER DRINK can be easy and affordable solution for them as Ill.

Quality and Type - Since the product is designed cater the consumer group of all age group,
Product line extension method can be introduced, if the market response is favorable in the first
year. Different tasty blends and flavors shall be incorporated with drink, for the acceptance of
young generation. Alongside, sugar free blend can be incorporated targeted to the consumers
with diabetes. Figure 3 Diversification Growth Strategy

Packaging - The product solution is being imported from china in powdered form, then it is mixed
into diluted solution and packaged into two sizes of container at our local plant. The drink shall
be marketed in tin can so that it is environmentally friendly and disposable in size 250ml and
500ml. The tin can is designed in such a manner that, customers if they don’t dispose the tin can,
they may wish to use the tin can as piggy bank for coin storage.

Brand - The brand identity shall be created in such a manner that gives sophistication to the
product, creating a Positive Brand Equity so that customers are willing to pay a little extra than
regular beverage drinks in the market.

Price

Value Based Pricing Strategy – Since our product is creating a positive value in the lives of
customer and addressing a need that no other product is, I wish to apply the value based pricing
strategy and charge unconventional than regular beverages in the market, but also keep it
comparatively lesser than indirect competitors like Gatorade, Pocara SIat etc. Also relevant
marketing promotions shall be conducted to establish a positive Brand Equity of the Foster Drink
with high cost associated to the promotion campaign. Hence a little higher price can be expected
Place

As the product is targeted to a niche customer, I are only placing the product at Dhaka, Gazipur
and Chittagong division in urban and sub urban areas only. The distribution channel is designed
as Factory – Distributor – Retailer. I will be selling only to local Distributors at bulk at cash prices
at the Dealer price (DP) in the PRICE section. The distributors shall ensure the placement of the
product in Mega Stores like Agora, Shopno and Meena Bazar. Also, in Mid-sized Department
stores and at neighborhood convenient stores. And exclusively in some restaurants in the form
of Shop in Shop. be charged by customers.

Promotion

I will use or create posters, banners, advertisements, TVCs, billboards to promote our products.
I will focus on digital marketing. To create awareness and increase our sales, I will use platforms
like Facebook, Instagram and our Ibsite. Not only do I have direct advertising in all our gyms and
sports zones (similar to BKSP) to increase sales volume in our target area only Promoting advice
and positive word of mouth plays a major role in increasing sales and earning more revenue in
today's world. I have a very secretive strategy to increase our sales and promote the Foster
protein sports drink in the market
References

Islam, M. M. (2014). Comparative Analysis of Global and Domestic Brands of Soft Drinks in
Bangladesh. Journal of Business Studies, XXXV