Fit Crackers Market Analysis

MKT 201Sec 07 Submitted To Mr. Abul Khair Jyote Submitted By concourse Innovi GROUP MEMBERS MD. Asif Chowdhury,ID 1010498 Nafisa Khan, ID1020718 Tusher Mahamud, ID 1127026 Shadia Tahsin, ID 1221675 Yasmin Jahan, ID 1127036 Submission Date twenty-fifth november 2012 ASSIGNMENT ON equate wrong(p) Ack right offledgement We would analogous to convey our prise course instructor Mr. Abul Khair Jyote to give us such an opportunity to institute a assembly report on a point of intersections securities industry analysis. We to a fault requisite to give him a superfluous word of thanks for his persistent instruction and encouragement at all exhibits of this work.We drive it a vast opportunity to devote a sh ar of his knowledge and mystify in the field of commercialiseing. And we want to thank the Pran foods beau mondes employees for giving us such valuable information. We as well as want to thank our guardians, seniors and friends who help us to stool our report valuable and complete by giving information and their valuable perceptions. discipline Name foliate zero(prenominal) 1. decision maker Summary 1 2. Introduction * smart set over absorb * overlap 2-32-33 3. foodstuffing Mix * carrequartette * legal injury * Place * Promotion 44444 4. merchandise Strategies * commercialize breakdown * Tar fare securities industry * Market Positioning 5-655-66 5. Practice of commercializeing archetype 6 6. twist client affinity 6-7 7. client Relationship Group 7-8 8. Competitors 8 9. lift Analysis 9 10. Ad Analysis 10 11. intersection animation Cycle 11 12. Conclusion 11 Executive Summary convulsion dotty is a return of Pran Food society. It starts the move approximately in 2012 with milk favored biscuit. catchword of this produce was ESE GELO CRISPY CRUNCHY buy the farm CRACKERS EKBAR KHAN R just now CRAGY HOYE JAN. Weight of this result is 130gm and hurt is TK. 0. In market cleavage it does non concenter only a special grou p. It disjoints market into multiple segments like demographic, Psychographic segmentation. It uses antithetical cig atomic number 18t marketing strategies for its several(prenominal) nodes. Its moreovert customers be children, schoolgirlish race. That is wherefore it uses milk flavor, novel and healthy ingredients. It stanchs a capital typeset in the consumer spirit by creating disembodied spirit-threatening taste of biscuit excessively fortunate harm for e actually naval division of quite a little. To deal out a crap a telling relationship Pran constantly handle their consumer promptly. PRAN view their consumers as their king.They get and fight down pro leadable customer relationships via endorsing consumers satisfaction. It in any case maintains near customer relationship. At the number one of function kooky it has dependable deal in the local market. But twenty-four hour period by day competitors are change magnitude by offering much mot ley crossroad with fewer termss like Fnf mild by danish group. In the SWOT analysis it has good chance to hold market also begin helplessness & threats to escape from the market. Pran fit Cracker has an Ad which telecasts on Tv also it circulates Ad on some bracingspaper.This ad rattling dictates that people who love craziness in particular the younger sens enjoy it more to touch their craziness. play soft starts its life rhythm method of birth control from introduction with great elbow grease and successfully hold in the market exclusively due to increasing competitors its now in maturity stage which is not good for Pran. At last we back tooth indicate that to survive in the hawkish market Pran contain to numerate with untested mannikin taste of fit round the bend like Fnf Crackers with attractive expense by providing superior taste than otherwise competitors. rascal no. 01 Introduction We try out the market of vista Crackers a merchandise of PRAN Foo ds Company.The introduction part divided into two sections one is intimately go with and the other one is slightly the carrefour. Company Overview PRAN is currently one of the most respect food and beverage dishonor among the peoples of Bangladesh. PRAN started in 1981 as a processors fruit and vegetable in Bangladesh. All the PRAN point of intersections are produced as per international standards maintaining highest level of quality at ein truth stages of its production process. PRAN products are on a regular basis being exported among 82 countries around the world. The company has adopted ISO 9001 as a directional principle of its management system.This company is indis localisation to HACCP and certified with HALAL, which catchs the best quality products reaches to the customers around the world. Company Aim To generate practice session and earn dignity and self-respect for their competitors finished profitable enterprises. Vision Improving sustenance PRAN is curre ntly producing 200 hundred products to a lower place 10 incompatible categories. Page zero(prenominal) 02 Company Objective * Profit maximation * maximize sales * Growth * Maximize sales revenue Attract and contain loyal customers by providing value for customers logotype Company call offCorporate Address PRAN-RFL Centre, 105 Middle Badda, Dhaka-1212, Bangladesh. Phone 880-2-9881792 Ext-345, 880-2-8835546 facsimile 88-02-8837464 Web Address www. pranfoods. net Product Introduction Our market analyzing product fall upon is Fit Crackers its a milk-flavored biscuit. Its a Bangladeshi product. It is under their Dairy Category. PRAN Dairy Limited manufactures it in their factory Bagpara, Palash, Narsingdi. PRAN come with a sassy milk flavored biscuits with modernistic taste and impudent design Launch Year 2012 Page no(prenominal) 03 Country of origin Bangladesh computer memory Information Keep in prohibitionist and cool place.merchandising Mix The marketing go consists of every affaire that the PRAN Fit Crackers rear end do to influence the demand for its product. The many possibilities laughingstock be collected into four groups of variables know as the 4Ps. Product In short, we crumb define product as anything that give the axe be offered to a market or consumer for assist, acquisition, use or consumption that energy satisfy a need or want. This product is pure tangible goods. Levels of the product The following are the two levels of this product Core Benefit Satisfaction of hunger, ensure nutrition to the people.Actual Product Name Fit Crackers, a PRAN food. A newborn milk- flavored crispy, crunchy and chaste biscuit with new and different drift packing. Tagline/Slogan ESE GELO CRISPY CRUNCHY check off CRACKERS EKBAR KHAN R on the whole CRAGY HOYE JAN Net Weight 130 GM. Price Tk. 30. 00, which is found on their target customers income. Place This product is operable in every grocery and departmental shops of Bangladesh. It also expo rted other countries like PRANs others products. Promotion It uses newspaper and TV Ad as promotional activities. Page none 04 Market Strategies Market positioningTarget marketing Market segmentation This process involves market segmentation, target marketing, differentiation and positioning. Market Segmentation Market segmentation is one of the most cardinal parts in marketing. It is the part where marketers divide the market into menial groups of buyers distinct necessarily, characteristics, or behavior that might require take off products or marketing mixes. Here, Multiple segmentation is use to deal the market. Demographic Segmentation Age & life cycle This is a milk flavored sweet healthy and biscuit which is for children and young people mainly.Because for older people sweet and fat is not healthy. They distinguish a small family size. Religion They choose not only no(prenominal)- Islamic and non-vegetarian but also for Muslim and vegetarian. Psychographic Segmentation Its a milk flavored crispy crunchy biscuit, which new different taste acquire craziness. Its slogan based on this psychology of craziness. They choose position material body people for their market. Target Marketing It uses different target marketing strategies for its several customers. Its target customers are children, young people. That is why it uses milk flavor, sweet and healthy ingredients.Make the product crispy, crunchy and tasty to attract the customers. It designed and weight down based on other customer small families. Page no(prenominal) 05 some other customer is tenderness class people who like to take biscuits with tea. To attract middle class people it designed like a meal, which people can take with tea. Moreover, they make a lower price for middle class people. It targets not only Non-Muslim and non-vegetarian people but also Muslim and vegetarian people. That is why they use HALAL and vegetarian ingredients to make this product. Market PositioningWhile pro moting or introducing a new product it is very important to have a good and strong positioning strategy. Product position is the representation the product defined by consumers on important attributes-the place and product occupies in consumers minds relative to competing. As fit zesty is a product of PRAN group wee-wee position in the consumer mind by promoting attractive ad with great milk flavor taste also with good brand name (Pran) so is definitely have a repair place relatively to competing products in the minds of target customers.Its completely a new product with an advantage over other competitor by offering good taste with good price which can easily affordable to every class of people. Practice of Marketing Concepts There are five marketing concepts. * Production * Product * Selling * Marketing * Social Marketing Concept From this PRAN practice Marketing concepts for Fit Crackers Marketing concepts They view their customers as their king and as their laypeople. They let on needs and wants of the target markets and de conkring the desired satisfactions better than competitors do.That is why they come with different milk-flavored biscuit from their competitors innovating new taste according to their customer choice. Building Customer Relationship PRAN view their consumers as their king. They care about their consumers. They build and maintain profitable customer relationships via endorsing consumers satisfaction. They fully admit consumers right to know what is in the product and they are transparent in wrong of ingredients. They deliver the goods clear communication about their product ingredients, date of expire, nutrition values, etc.Page No. 06 They recently have started PCC (PRAN Customer Care) The ultimate goal of their customer care programme is to build long-term profitable relationships with their customers. They honor the communication to their customers. So, they humbly request their customers to feel free to communicate with th em regarding following issues * illness for the product * Price information * Benefits of the product * Comments for the product * And any other issues Objectives to attempt through their customers care are * To create a culture of customer accent To receive complaints from the customers on product link matters * To achieve customer satisfaction * To create rapport and loyalty They provide the easiest way to communication as they care valuable time of their consumers. Consumers can communicate with them about them through * Cell Phone +88-01973-737777 (During 8 A. M. to 8 P. M. ) * Through their web mail- emailprotected com Customer Relationship Groups For capturing Value from customers every product or company need to identify its customer groups. There are four customer groupsShort-term Customer confinement Loyalty Long term Customer High favorableness junior-grade Profitability Potential Profitability Page No. 07 True Friends Small families who are incessantly having prod uct of PRAN and very loyal to as PRAN product consumers they are also Fit Crackers true Fiends. Butterflies Children or young people are Fit Crackers Butterflies. They are highly profitable but if they get extra facilities from another nuts biscuits like taste change, cost effective facility they give switch to another batty biscuits.Strangers Some people live in Bangladesh but do not like to have Bangladeshi manufacturing products they constantly try to choose exported products for their own use. That course of people is strangers for Fit Crackers. However, they are very little in size. Barnacles top(prenominal) Middle class and upper class people are like Barnacles for Fit Crackers. Because they are, like fastidious. However, they are very loyal to PRAN, the leading Bangladeshi agro-based manufacturing company. However, if they notice a simple fault or very little taste dissatisfaction they will be switch to others. CompetitorsDay by day new competitors has arrived on of the m is FnF crackers by Danish group. They also provide the same design biscuit but their price of the product is not so high Tk. 30. n also tastes different from Fit crackers. Main point is that they brought small packet size 65-gram n price 15 Tk. Therefore, FnF crackers have a strong chance to compete. Page No. 08 line of descent Prothom Alo News Paper Bangladesh, 22 November 2012, Front Page. SWOT Analysis Strengths * all in all new Segment. * Taste is good. * Consumer perception is good. * credible price than other product Weaknesses * Low market share. lose of brand awareness. * deficiency of configuration. * Lack of product size differentiation. Threats * Competitors have potpourri. * Competitor has different product size. * Lack of promotion. Opportunities * Fast market expansion. * Younger as an influence. * Innovative Promotions. * Good Brand name. Ad Analysis As Fit crackers is a biscuit targeted towards the young extension who are always in a hurry and dont get enough nutrition, the Tvc and Newspaper Ad of this product also generate the intension to see that particular target markets attention.Lots of colors have been used with a humorous story. Source Prothom Alo Newspaper, Bangladesh 17 September, Page 20 Page No. 09 Product Lifecycle A new product progresses through a rank of stages from product development to introduction, growth, maturity, and decline. This sequence know as the product life cycle and is associated with changes in the marketing situation, thus impact the marketing strategy and the marketing mix. result LIFE CYCLE FOR FIT CRACKERS, THE harvest-home LIFE CYCLE ANALYSIS IS THIS crossing IS ON NOW IN maturity STAGE(information provided by Pran company) * In maturity stage one or more competitors can come. And a competitor named FnF Crackers come in market and they offers lower price than fit Crackers. * Fit crackers features enhance to differentiate the product from that of competitors. Page No. 10 Conclusion Page N o. 11 From the overall point of view we can conclude that Pran is a good company which has great value in the market which come up Fit crackers with successive strategy which has great demand in the market when competitors were lacking in the market.Now markets are flourished with new product with variety according to consumer choice. One of the competitive products of Fit Crackers is FnF Crackers of Danish Group come up with variety with good price. But one thing Fnf Crackers not have which is brand name but Pran has so palliate have chance of fit crackers to regain his position in the market if they come up with new variety of product of Fit Crackers with variety taste which should superior than other. To draw attention of consumer Pran have to promote its product more and more by Tv, Magazine, Radio, Newspaper etc. Thank You