Fit Crackers Market Analysis

MKT 201Sec: 07 Submitted To: Mr. Abul Khair Jyote Submitted By: Group “Innovi” GROUP MEMBERS MD. Asif Chowdhury,ID: 1010498 Nafisa Khan, ID:1020718 Tusher Mahamud, ID: 1127026 Shadia Tahsin, ID: 1221675 Yasmin Jahan, ID: 1127036 Submission Date: 25th november 2012 ASSIGNMENT ON: “Match Crackers” Acknowledgement: We wish to thank our revered course teacher Mr. Abul Khair Jyote to present us such a possibility to make a bunch report on a product’s market evaluation. We additionally wish to give him a particular phrase of thanks for his persistent steering and encouragement in any respect levels of this work. We take into account it an awesome alternative to have a share of his data and expertise within the discipline of promoting. And we wish to thank the Pran meals firm’s staff for giving us such invaluable info. We additionally wish to thank our guardians, seniors and buddies who assist us to make our report invaluable and full by giving info and their invaluable perceptions. Subject Title| Web page No. | 1. Govt Abstract| 1| 2. Introduction * Firm overview * Product| 2-32-33| three. Advertising Combine * Product * Worth * Place * Promotion| 44444| four. Market Methods * Market Segmentation * Goal Market * Market Positioning| 5-655-66| 5. Observe of Advertising Idea| 6| 6. Constructing Buyer Relationship| 6-7| 7. Buyer Relationship Group| 7-Eight| Eight. Opponents| Eight| 9. SWOT Evaluation| 9| 10. Advert Evaluation| 10| 11. Product Life Cycle| 11| 12. Conclusion| 11| Govt Abstract: Match Crackers is a product of Pran Meals Firm. It begins the journey in 2012 with milk favored biscuit. Slogan of this product was “ESE GELO CRISPY CRUNCHY FIT CRACKERS EKBAR KHAN R TOTALLY CRAGY HOYE JAN”. Weight of this product is 130gm and worth is TK. zero. In market segmentation it doesn't focus solely a particular group. It divides market into a number of segments like demographic, Psychographic segmentation. It makes use of totally different goal advertising methods for its a number of prospects. Its goal prospects are kids, younger folks. That's the reason it makes use of milk taste, candy and wholesome elements. It holds an awesome place within the client thoughts by creating good style of biscuit additionally favorable worth for each class of individuals. To construct a superb relationship Pran all the time deal with their client promptly. PRAN view their shoppers’ as their king. They construct and keep worthwhile buyer relationships through endorsing shoppers’ satisfaction. It additionally maintains good buyer relationship. Firstly of Match crackers it has good demand within the native market. However daily rivals are rising by providing extra selection product with fewer costs like Fnf crackers by Danish group. Within the SWOT evaluation it has good likelihood to carry market even have weak spot & threats to flee from the market. Pran match Cracker has an Advert which telecasts on Television additionally it circulates Advert on some newspaper. This advert really dictates that individuals who love craziness particularly the youthful can get pleasure from it extra to really feel their craziness. Match Crackers begins its life cycle from introduction with nice effort and efficiently maintain out there however because of rising rivals its now in maturity stage which isn't good for Pran. Eventually we will point out that to outlive within the aggressive market Pran have to come back with new selection style of match crackers like Fnf Crackers with enticing worth by offering superior style than different rivals. Web page No. 01 Introduction: We analyze the market of “Match Crackers” a product of PRAN Meals Firm. The introduction half divided into two sections one is about firm and the opposite one is in regards to the product. Firm Overview: “PRAN” is presently one of the crucial admired meals and beverage model among the many peoples of Bangladesh. PRAN began in 1981 as a processors fruit and vegetable in Bangladesh. All of the PRAN merchandise are produced as per worldwide requirements sustaining highest degree of high quality at each levels of its manufacturing course of. PRAN merchandise are often being exported amongst 82 nations world wide. The corporate has adopted ISO 9001 as a guideline of its administration system. This firm is criticism to HACCP and authorized with HALAL, which ensures the highest quality merchandise reaches to the shoppers world wide. Firm Intention: “To generate employment and earn dignity and self-respect for his or her rivals by worthwhile enterprises. ” Imaginative and prescient: “Bettering Livelihood” PRAN is presently producing 200 hundred merchandise underneath 10 totally different classes. Web page No. 02 Firm Goal * Revenue maximization * Maximize gross sales * Progress * Maximize gross sales income Appeal to and retain loyal prospects by offering worth for patrons LOGO Firm Handle: Company Handle: PRAN-RFL Centre, 105 Center Badda, Dhaka-1212, Bangladesh. Cellphone: 880-2-9881792 Ext-345, 880-2-8835546 Fax: 88-02-8837464 Internet Handle: www. pranfoods. web Product Introduction: Our market analyzing product title is “Match Crackers” it’s a milk-flavored biscuit. It’s a Bangladeshi product. It's underneath their Dairy Class. PRAN Dairy Restricted manufactures it of their manufacturing unit Bagpara, Palash, Narsingdi. PRAN include a brand new milk flavored biscuits with new style and new design Launch 12 months: 2012 Web page No. 03 Nation of origin: Bangladesh Storage Data: Hold in dry and funky place. Advertising Combine: The advertising combine consists of every thing that the PRAN Match Crackers can do to affect the demand for its product. The various potentialities could be collected into 4 teams of variables often called the 4Ps. Product: Briefly, we will outline product as something that may be provided to a market or client for consideration, acquisition, use or consumption that may fulfill a necessity or need. This product is pure tangible items. Ranges of the product: The next are the 2 ranges of this product: Core Profit: Satisfaction of starvation, guarantee vitamin to the folks. Precise Product Title: Match Crackers, a PRAN meals. A brand new milk- flavored crispy, crunchy and engaging biscuit with new and totally different model packing. Tagline/Slogan: “ESE GELO CRISPY CRUNCHY FIT CRACKERS EKBAR KHAN R TOTALLY CRAGY HOYE JAN” Internet Weight: 130 GM. Worth: Tk. 30. 00, which is predicated on their goal buyer’s earnings. Place: This product is on the market in each grocery and departmental outlets of Bangladesh. It additionally exported different nations like PRAN’s others merchandise. Promotion: It makes use of newspaper and TV Advert as promotional actions. Web page No. 04 Market Methods: Market positioning Goal advertising Market segmentation This course of entails market segmentation, goal advertising, differentiation and positioning. Market Segmentation: Market segmentation is likely one of the most necessary elements in advertising. It's the half the place entrepreneurs divide the market into small teams of consumers’ distinct wants, traits, or habits that may require separate merchandise or advertising mixes. Right here, A number of segmentation is use to decide on the market. Demographic Segmentation Age & life cycle: This can be a milk flavored candy wholesome and biscuit which is for youngsters and younger folks primarily. As a result of for older folks candy and fats shouldn't be wholesome. They select a small household measurement. Faith: They select not solely Non-Muslim and non-vegetarian but additionally for Muslim and vegetarian. Psychographic Segmentation: It’s a milk flavored crispy crunchy biscuit, which new totally different style create craziness. Its slogan based mostly on this psychology of craziness. They select center class folks for his or her market. Goal Advertising: It makes use of totally different goal advertising methods for its a number of prospects. Its goal prospects are kids, younger folks. That's the reason it makes use of milk taste, candy and wholesome elements. Make the product crispy, crunchy and engaging to draw the shoppers. It designed and weighted based mostly on one other buyer small households. Web page No. 05 One other buyer is center class individuals who prefer to take biscuits with tea. To draw center class folks it designed like a meal, which individuals can take with tea. Furthermore, they make a lower cost for center class folks. It targets not solely Non-Muslim and non-vegetarian folks but additionally Muslim and vegetarian folks. That's the reason they use HALAL and vegetarian elements to make this product. Market Positioning: Whereas selling or introducing a brand new product it is extremely necessary to have a superb and robust positioning technique. Product place is the way in which the product outlined by shoppers on necessary attributes-the place and product occupies in shoppers’ minds relative to competing. As match crackers is a product of PRAN group create place within the client thoughts by selling enticing advert with nice milk taste style additionally with good model title (Pran) so is unquestionably have a greater place comparatively to competing merchandise within the minds of goal prospects. It’s utterly a brand new product with a bonus over different competitor by providing good style with good worth which may simply reasonably priced to each class of individuals. Observe of Advertising Ideas: There are 5 advertising ideas. * Manufacturing * Product * Promoting * Advertising * Social Advertising Idea From this PRAN observe Advertising ideas for “Match Crackers” Advertising ideas: They view their prospects as their king and as their laypeople. They determine wants and needs of the goal markets and delivering the specified satisfactions higher than rivals do. That's the reason they arrive with totally different milk-flavored biscuit from their rivals innovating new style in response to their buyer alternative. Constructing Buyer Relationship: PRAN view their shoppers’ as their king. They care about their shoppers. They construct and keep worthwhile buyer relationships through endorsing shoppers’ satisfaction. They absolutely help shoppers’ proper to know what's within the product and they're clear by way of elements. They supply clear communication about their product elements, date of expire, vitamin values, and so on. Web page No. 06 They lately have began PCC (PRAN Buyer Care) The eventual aim of their buyer care program is to construct long-term worthwhile relationships with their prospects. They honor the communication to their prospects. So, they humbly request their prospects to be at liberty to speak with them concerning following points: * Grievance for the product * Worth info * Advantages of the product * Feedback for the product * And some other points Targets to hunt by their prospects’ care are: * To create a tradition of buyer focus To obtain complaints from the shoppers on product associated issues * To attain buyer satisfaction * To create rapport and loyalty They supply the simplest solution to communication as they care invaluable time of their shoppers. Customers can talk with them about them by: * Cell Cellphone: +88-01973-737777 (Throughout Eight A. M. to eight P. M. ) * By means of their net mail- [email protected] com Buyer Relationship Teams: For capturing Worth from prospects each product or firm must determine its buyer teams. There are 4 buyer teams: Brief-term Buyer Challenge Loyalty Lengthy –time period Buyer Excessive Profitability Low Profitability Potential Profitability Web page No. 07 True Pals; Small households who're all the time having product of PRAN and really loyal to as PRAN product shoppers they're additionally “Match Crackers” true Fiends. Butterflies: Youngsters or younger individuals are “Match Crackers” Butterflies. They're extremely worthwhile but when they get additional amenities from one other crackers biscuits like style change, value efficient facility they'll swap to a different crackers biscuits. Strangers: Some folks reside in Bangladesh however don't prefer to have Bangladeshi manufacturing merchandise they all the time attempt to decide on exported merchandise for their very own use. That type of folks is strangers for “Match Crackers”. Nonetheless, they're little or no in measurement. Barnacles: Higher Center class and higher class individuals are like Barnacles for “Match Crackers”. As a result of they're, like fastidious. Nonetheless, they're very loyal to PRAN, the main Bangladeshi agro-based manufacturing firm. Nonetheless, in the event that they discover a easy fault or little or no style dissatisfaction they are going to be swap to others. Opponents: Daily new rivals has arrived on of them is ‘FnF crackers’ by Danish group. In addition they present the identical design biscuit however their worth of the product shouldn't be so excessive Tk. 30. n additionally tastes totally different from Match crackers. Essential level is that they introduced small packet measurement 65-gram n worth 15 Tk. Subsequently, “FnF crackers” have a powerful likelihood to compete. Web page No. 08 Supply: Prothom Alo Information Paper Bangladesh, 22 November 2012, Entrance Web page. SWOT Evaluation: Strengths * Utterly new Section. * Style is sweet. * Client notion is sweet. * Cheap worth than different product| Weaknesses * Low market share. Lack of name consciousness. * Lack of selection. * Lack of product measurement differentiation. | Threats * Opponents have selection. * Competitor has totally different product measurement. * Lack of promotion. | Alternatives * Quick market growth. * Youthful as an affect. * Revolutionary Promotions. * Good Model title. | | | Advert Evaluation: As Match crackers is a biscuit focused in direction of the younger technology who're all the time in a rush and don’t get sufficient vitamin, the Tvc and Newspaper Advert of this product additionally generate the intension to seize that exact goal markets consideration. Numerous colours have been used with a humorous story. Supply: Prothom Alo Newspaper, Bangladesh 17 September, Web page 20 Web page No. 09 Product Lifecycle: A brand new product progresses by a sequence of levels from product improvement to introduction, development, maturity, and decline. This sequence often called the product life cycle and is related to adjustments within the advertising scenario, thus affecting the advertising technique and the advertising combine. PRODUCT LIFE CYCLE FOR FIT CRACKERS, THE PRODUCT LIFE CYCLE ANALYSIS IS: THIS PRODUCT IS ON NOW IN MATURITY STAGE(info offered by Pran firm) * In maturity stage a number of rivals can come. And a competitor named FnF Crackers are available market and so they presents lower cost than match Crackers. * Match crackers options enhanced to distinguish the product from that of rivals. Web page No. 10 Conclusion: Web page No. 11 From the general viewpoint we will conclude that Pran is an efficient firm which has nice worth out there which come up Match crackers with successive technique which has nice demand out there when rivals had been absent out there. Now markets are flourished with new product with selection in response to client alternative. One of many aggressive merchandise of Match Crackers is FnF Crackers of Danish Group give you selection with good worth. However one factor Fnf Crackers not have which is model title however Pran has so nonetheless have likelihood of match crackers to regain his place out there in the event that they give you new number of product of Match Crackers with selection style which ought to superior than different. To attract consideration of client Pran have to advertise its product increasingly more by Television, Journal, Radio, Newspaper and so on. Thank You
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