Origin of the Report
As we are doing Marketing Management, our course instructor Prof. Dr. Mijanur Rahman has instructed us to prepare a paper on the product plan.
• To get a clear concept how to make the product plan • To acquire knowledge how to make mission, vision, marketing mix etc.
1. We did not collect the current information related with our product. 2. We had to give lot of times to collect information about competitors, market situation because enough information not available.
• Internet: www.google.com , www.wekipidia .com, Source: thedailystar.net
• Other: Collected information from marketing report, magazines, running newspaper.
1:00 CURRENT MARKET SITUATION
Today the chips market is dominated by Potato Crackers, Mr. Twist, Meridian, Cheese Ball, Lay’s, Sun Chips and other chips. We find out that, there is no high quality chip which is suitable for children health. But we found much normal category chips. Our product quality is more high comparative to the other competitors, because our main ingredients is Mushroom which is totally new flavor and taste and also work against for the cancer. So it’s a big gap that we find out. Our new chips has been received a new market challenge to cope with them. At the very beginning, our sale will be low, profit will also be little. We hope that we will be able to get the first mover advantage, because there is no such product especially for children health.
1. Market Description:
We know, the market means potential customers of a product or service. Bangladesh is a highly populated country. The birth rate is very high .As a result the children rate is also very high. We are not producing our product not only for children but also for teenagers, young generation. So our total target market is very large. Market demands of market will also increasing as much we can position in our customers mind.
(All this figure are estimated depending on class and age to have an idea about demand on chips on this variables) This is our target market. We want to target children as well as young people of middle and higher class of people. We are not eliminating lower class people but first we want to create demand for our product then we will try to reduce our product price and serve to all class of people.
2. Product review:
The product quality is more high comparative to the other competitors, because our main ingredients is Mushroom which is totally new flavor and taste and also work against for the cancer. It is suitable for children health. It is highly reached by Protein-15.53%, Fat-20%,Saturated fat-1.42%, Carbohidrated-2.45%, Sugar-2.40%, Energy-100gm, Colastrol-0%, Sodiam-.64%, which is very much essential for specially kids and young age people.
Price levels are set for launching our product for our targeted customers.
We want to produce 960000 of products in our first step of production. Depending on increasing demand rate, we will increase our production rate over a month. Every year, we will increase our 10% of production. We will observe the sales and satisfaction levels of our customers through our sales representatives.
Our Product will sale only in Urban and town side areas of Bangladesh, that’s why we are not distributing and sales product in rural areas because our price level is bit high. After increasing our product demand and sales, we will try to reduce our cost of production. As a result, we reduce our product price and distributed in rural areas in Bangladesh.
5. Gross margin:
We have a great competition in our market.1st year; we want to create huge demand by good quality advertisement and promotional activities to create position in our customers mind. As a result, we expected low gross margin for 1st year, it will...