HRM-506: Marketing Management (Section 2)

Marketing Plan

Submitted to: Dr. Imranul Hoque

Submitted by:
Antara Haque
ID: 1930973

Submission Date: 5th December, 2022

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Letter of Transmittal
Date:05-12-2022
Dr. Imranul Hoque
Subject: Submission of Marketing Plan.
Dear Sir,

We have been asked to submit a report on a marketing plan. I am very grateful to you that you
have given such an assignment that has increased my awareness and experience. From this
assignment, I got experience and knowledge, that will help us to implement in real life
situation. I am happy that I am able to submit this report within given timeframe and I hope
that you would appreciate the way I have analyzed it as I have put my best effort in it. Thank
you.
Sincerely,
Antara Haque
ID: 1930973

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ACKNOWLEDGEMENT

First I am very grateful and thankful to the Almighty Allah. For the completion of this report
searching for websites, articles and related documents were required. However, it was our
instructor, Dr. Imranul Hoque, who played the important role by giving me an insight about
the knowledge required for completing this report. I express my profound indebtedness and
gratitude to him, for his valuable advice that helped immensely in preparing this report. I am
also thankful to my fellow classmates who helped me while preparing this report.

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 Contents
Executive Summary ................................................................................................................................ 5
Company Overview ................................................................................................................................ 6
Product Description ................................................................................................................................ 6
Industry Background ............................................................................................................................... 7
Positive & Negative Factors of Environment ......................................................................................... 7
General Market Segmentation ................................................................................................................ 9
Consumer Characteristics ....................................................................................................................... 9
Behavioral Impacts ................................................................................................................................. 9
Market Size ............................................................................................................................................. 9
Market trends .......................................................................................................................................... 9
Competitor Analysis ............................................................................................................................. 10
Market Positioning ................................................................................................................................ 10
Company’s Current Situation ............................................................................................................... 10
Marketing Plan ...................................................................................................................................... 11
Target Market.................................................................................................................................... 11
Promotion Strategy ........................................................................................................................... 11
The Distribution Channel to be used: ............................................................................................... 11
Sales Strategy: ................................................................................................................................... 11
Operational Plan.................................................................................................................................... 11
Facilities ............................................................................................................................................ 11
Production Planning and Process ...................................................................................................... 12
Inventory Management ..................................................................................................................... 12
Distribution and Order Fulfillment ................................................................................................... 12
Financial Control .............................................................................................................................. 13
Financial Plan........................................................................................................................................ 13
Conclusion ............................................................................................................................................ 14
Reference .............................................................................................................................................. 15

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 Executive Summary

This report contains marking plan of a business of manufacturing sugar free chocolates. The
name of our company is “Antara Sugar Free Chocolates”. The name itself shows that we are
focusing on the people having diabetes or are on a diet.

As we know, the number of diabetic patients are already in high and it is increasing day by day.
So they are avoiding sweet related items as chocolates. Our concern is to solve the problem
and also to make it sure that they don’t get any health issues. Our target market will be Dhaka
initially. The customers whom our product will be supplied are retailers and wholesalers.

We are going to be the first Sugar Free chocolate making company in Bangladesh, which is
our competitive advantage to dominate the market. The core competencies on which our
company would be competing are taste and quality of our chocolates.

People are way more conscious about their health than ever before. Our chocolate is suitable
for those on a sugar-controlled diet. They would like to choose our product above any other
existing ones as we are assuring the best quality without compromising with the taste.
The Required Money to start our business is 7500000 BDT. We are planning to get a loan of
5000000 BDT from the Standard Chartered Bank and the rest, we are planning to get from our
investors.

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 Company Overview
Business Type: Manufacturing
Objectives:
1. To manufacture and provide the customers with the quality products to the best
interest of the customers.
2. To create price competitive products as part of the effect to increase the world
access to high quality chocolates.
3. To ensure a hygienic & clean working environment as to continue to produce Safe
& Tasty Products
4. Companies Core Competency
• Taste
• Health issue
• Quality

Product Description
Features-
 Sugar free
 Dark chocolate
 The chocolate contains Maltitol which is used in lieu of sugar and doesn’t do any
harm to health.
 High in anti-oxidants.
 Cocoa contains flavones, a type of flavonoid that is only found in cocoa and
chocolate.
 The high magnesium content of chocolate is beneficial for the cardiovascular
system and hypertension.

Logo- The Company Sign:

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Our product’s specification is it will provide the same taste that a dark chocolate provides
without doing any harm to the health. There is no other company in BD at present who are
providing the same facilities in a reasonable price. It will be our competitive advantages.

Industry Background

Name of Company: ANTARA SUGAR FREE CHOCOLATES

Manufacturing Plant: Gazipur, Dhaka.
Office of Company: Mostijheel C/A.
Year of Establishment: 2022

We will be entering in an industry where we are going to be the first Sugar Free chocolate
making company in Bangladesh. This is a huge advantage to dominate the market once
customers start to like our product. As we are making the product mainly for the health
conscious people so this is going to grab the attention of the chocolates loving people.

The chocolate industry has proven both resilient during the recession and innovative to meet
changing consumer tastes and criteria. Growth will remain strong as chocolate gains in
popularity in new markets and the global economy powers ahead. Healthier varieties are
gaining market share and discerning consumers are willing to pay a premium for ethical
production, but through it all, chocolate demand continues to grow.

Positive & Negative Factors of Environment

Economic Environment: Bangladesh economy was on an increasing trend till 2019 which is
8.15%. However, in 2020 it decreased by 3.51% as the pandemic hit. As on 2022, GDP has
roughly increased by 5.47%. GDP at current market price is close to USD 460 bn. Bangladesh
economy has been more resilient than ever and still recovering the brunt of pandemic taken
place in 2020. Since 2021, the country is somewhat stable so is the economic condition.

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Inflation heading towards right direction
Inflation is heading towards the right direction set by the Bangladesh Bank. In last monetary
policy Bangladesh Bank has set inflation target to 5.30% and in the month of September ’22 it
was 9.10% and in the month of October it was 8.91% (point to point basis) Inflation decreased
in both Food and Nonfood index.

As our economic conditions improving the sales are likely to increase as well.

Demographic Environment: The demographic environment is one of the elements of the

marketing environment and includes such important aspects as population size, growth rates
and target population for effective marketing. Our target market is the 7 million people who
are diabetic across the country which is a large number of customers.
On the other hand, a study shows, 79% of consumers look for good value when choosing
chocolate, although 70% also want a name brand. As a newly formed chocolate company we
will have to struggle at first to get popularity.
Social and Cultural Environment: The interesting thing in this segment is that almost
everybody likes chocolates in every society or culture. Here are some factors which effect
social and cultural environment –
*Demographic Factor.
*Taste & Preference
*Family
*Occasions
*Income & lifestyle
*Health & Safety Factor.
Political Environment: Since the budget is decontrolled, no political effects are envisaged.

Technological Environment: Here, technology may not be a source of competitive advantage

if competitors exploit it too. But we will have to reinforce technology to international levels to
make our product high grade.

Competitive Environment: Pran and Kishwan are the players in the chocolate industry of our
country. They have a very good brand name while we are a new chocolate making company.
But unlike Pran and Kishwan we are making sugar free chocolates. Bangladesh still imports

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sugar free chocolate brands such as amul, diablo etc. from abroad. Which is a complete
advantage to take place in this market.

General Market Segmentation

We have decided to segment our market into two main parts:

1. Diabetic adults (20-75 years)

2. Generally health conscious adults

Consumer Characteristics
Despite common perception, children consume less than their “Fair Share” of chocolates.
Adults in Dhaka are the primary consumers of chocolate, accounting for 81% of eatings. Dhaka
is also the consumer capital and where health awareness is most prevalent among adults due to
higher level of education. We also have plans to gradually expand to supply our product to the
rest of the major cities.

Behavioral Impacts
Global diabetic food market is expected to grow significantly over the forecast period owing
to the rising diabetic population along with rising health consciousness among consumers.
Increasing use of artificial sweeteners including acesulfame potassium, aspartame and neo-
tame as a substitute of sugar is expected to positively impact the market growth. Growing
awareness over diabetes coupled with preventive measures taken by consumers is anticipated
to spur the market growth. Hectic lifestyle and rising demand for junk food is leading to
diabetes which is anticipated to fuel the demand for diabetic food over the next seven years.
Furthermore, growing consumer preference for low calorie foods is expected to boost the
market growth over the forecast period. In addition, easy availability of diabetic food in
convenience stores, specialized health food stores, hyper markets and super markets is
expected to fuel market growth owing to high penetration in the market over the next seven
years.

Market Size
The total market size of our product is currently estimated at 7 million people who are currently
diabetic across the country but our target market is the 1.6 millions of diabetic patients of
Dhaka.

Market trends
The 45+ Group which is more prone to diabetes and increasingly wanting to live a healthy
lifestyle has the highest level of per capita consumption and this trend is increasing.

It has been stated that there is no way this category is not going to grow, given the current
demographic trends of baby boomers aging and caring more about their health, along with the
increase in diabetes. Indeed, diabetics have always been, and are still, the natural target of this
category, but especially now that there are, unfortunately, more of them. The occurrence of
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new cases of Type 2 diabetes has doubled over the past three decades, according to a recent
health report.
But when targeting this confectionery category to consumers, there is also very much a
mainstream angle to serve — namely, the Dhaka city dwellers who are just dieting and/or
concerned about their weight, as well as those who are limiting sugar intake for health reasons
and/or seeking out “better-for-you” snacks and treats.

Competitor Analysis

Company Product
Pran Diabetic Orange Jelly
Kishwan Sugar-free Cookies

Market Shares
Pran and Kishwan are the only competitors so far in this market not covering a lot of shares.
Our intention is to have most of the market shares for this particular product by 2027.

Market Positioning
Taste: Antara Sugar Free Chocolates aims to draw customers based on not just its health
values but also its superiority of taste over other competitors. Special blends of fruits and
sugar-free organic cocoa will linger in the mouths of anyone who buys it and will encourage
them to come back for more.

Packaging: Attractive and minimalistic yet elegant packaging methods will be implemented
to catch the customers eye.

Awareness: Also various promotional adverts will be used to draw customers into living a
healthier and carb-free diet which our product aims to deliver.

Company’s Current Situation

Strength
We seek to produce high quality products at competitive price using modern technology to
provide high satisfaction to the consumers and to assure their proper health. Though we are
going to provide chocolate for diabetic patient, every person with health conscious mind can
assume the chocolate as we are assuring them the best quality and taste of real chocolates
without any calories.
Weakness
 Huge startup costs.
 To keep price of the produce low, as it is a price sensitive market.
 We are providing our product only in Dhaka.
 The people of lower income will think twice to buy our products.

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Opportunity
 As there is no other chocolate making company in Bangladesh, this situation will act as an
opportunity in our business.
 Other foreign products that are available in the market at present would cost much more
than our product.
Threats
 Huge Startup costs.
 To produce chocolates, we have to import the ingredient “Cocoa”. We have to get all kind
of legal papers which going to be create difficulties.
 In the meantime, if any other company would start their business of their own-that can
create a threat for us too.

Marketing Plan
Target Market
The errand market is untapped and has a large customer base. The target market for our product
will be basically the people who maintain a healthy diet and also for the ones suffering from
Diabetics.
Promotion Strategy
This is the most crucial part of the marketing initiatives that would be completely liable for
creating & capturing our market. We would go for several media to reach our targeted market
through promotion. The major media would be Flyers, Radio, Billboards, and Local
Newspapers.

Moreover, a special promotional pack of 20gms will be distributed throughout different places
along with the purchase of Grocery worth TK 500 or above. On the other hand, campaigns
around the city at various places and events will also spread the word.

The Distribution Channel to be used:

For the distribution & placement of our chocolate, we shall use the push and pull strategies.
We will only supply the product to our authorized distributors in convenience and departmental
stores. For ex:(Agora, Shwapno, Almas, Needs, Nearby Convenient Stores).
Sales Strategy:
The product will be sold through sales representatives of the above-mentioned authorized
distributors. Alongside, in effect of promotions there will be stalls set up every month as a part
of campaign in different places such as Malls, Universities, Fairs, Etc. Also, the products will
be sold to the wholesalers depending on the quantity of the order.

Operational Plan
Facilities
* 24 Hour Access
* Caretaker

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 * CCTV
* Centre Manager
* Cycle Racks
* Loading Bays
* Parking
* Recycling Facilities
* Showers
* Staffed Reception
Production Planning and Process
Our product will be manufactured by Full Automatic Chocolate Production Line (QH200),
with this system, baking the molds, depositing, forming etc. series procedures can be achieved

automatically. It’s available to depositing all shape of chocolate. Since our product are plain,
this machine is appropriate.

This machine can produce 100-300 kg chocolates per hour. It can produce chocolates in
different shape. It can help to reduce cost of chocolates mold.

This production capacity is fully automated as mentioned above, so the need of personnel is
comparative less than other semi-automatic machine.

Inventory Management
The basic raw materials required for making sugar free chocolates are-

Hydrogenated Starch Hydrolysate, Lactitol, Maltitol, Cocoa Butter(low fat cocoa), Butter,
Chocolate, Peanut Butter, Palm Kernal Oil, Wheat, Pecans, Cashews, Vegetable Oil, Malt,
Sodium, Natural & Artificial Flavors.

Suppliers Cocoa butter- Sandpiper Trading

Ltd.
Address- Dhaka,House # 496 Road # 9 Dohs Baridhara Dhaka– 1209

Vegetable oil, Palm Kernal oil- Dhaka Vegetable Oil Industries Ltd.
Address- House # 89, Road # 6/C, Old DOHS
Milk powders, Wheat, Butter- SAMICO INTERNATIONAL
Address- 48/A-B,Purana Paltan (5th flr),Dhaka-1000
Maltitol- Akhil Healthcare (P) Ltd
Address- 205-206, B.B.C. Tower, Opposite World Trade Centre, Sayajigunj, Vadodara
- 390005, Gujarat, India.

Distribution and Order Fulfillment

Our chocolates will be supplied directly. We will supply our chocolates directly to interested
retailers and wholesalers inside of Dhaka City. To address the issue of product stability we

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would suggest to install VISI coolers at several outlets of them. We will supply our products
monthly basis according to the need of the buyers.

Financial Control
Regular basis- small size(50grm)- 100pc (100/-) =10000/

medium size(100grm)- 100pc (180/-) =18000/-

small size(200grm)- 100pc (350/-) =35000/-
Total Income= 63000/- (approx.)
Monthly Income= 63000*30=1890000/- (approx.)
Total Monthly Expenses (Labors costs, bills, other payments like import bills,
Ingredients costs etc.) = 1200000/-
Profit= (1890000-1200000) =690000/- (appx)

Financial Plan
Required money to start the business- 7500000 BDT (approx.)
Source of Funding-
* Loan from Standard Chartered Bank- 5000000 BDT
* Investors- The Rest
Money usage plan-
Mechinaries-4500000/-
Monthly Expenses- 1200000/-
Importing Products and license collecting- 1000000/-
Others-800000/-
Total= 7500000/Insurance Facilities
Bangladesh General Insurance Company, the first leading private company has ensured us
the security of our company. They are ready to cover our money problem or in any
accidental situations.
Planned Profit
Monthly income-1890000/Monthly Expenses-
1200000/Total=690000/- (approx.)
(Details are available in Financial Control)

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 Conclusion
The company's management is confident that The Company can achieve its aggressive sales
forecasts in 2027 respectively. In addition, The Company’s management has carefully
considered its market, potential customer base, and its ability to grow its sales average to
capture market share in the industry. The Company has the potential to become a highly
regarded resource in local markets. Due to the company's aggressive marketing strategy,
establishment of the company as a "unique" entity in its industry, careful development of its
products coupled with strategic partnerships with some of the industry's leaders, and the
company's profitable revenue model, The Company has the potential to provide lucrative
returns to potential investors.

For The Company to achieve status as an industry leader, it must secure initial capital. This
capital will be used for start-up costs, to establish a reputable storefront, and to further develop
the business, business infrastructure, internal systems, product development, and extensive
marketing and geographic positioning. Providing that the company is able to acquire its
funding requirements, The Company will be able to achieve operational success for many years
to come.

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 Reference
[Link], Linda. (2004). Anatomy of a Business Plan: A Stepby-Step Guide to Building a
Business and Securing Your Company’s Future (6th Edition). Page 20. Dearborn Trade:
Chicago, USA.
[Link] Business Notes business plan outline for small business start-up
[Link] University profitable business plan
[Link] of Louisiana, USA government agency operational plan
[Link] government project management knowledge base government project plan
6. Boston College, Carroll School of Management, Business Plan Project.

7. [Link]
8. [Link]

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