NAME OF THE COURSE: INTERNATIONAL MARKETING
SUBJECT CODE: MKT 401
NAME OF THE INSTRUCTOR: ABUL KHAIR JYOTE
NAME OF THE GROUP: MUSTANG
DATE OF SUBMISSION: 01/11/2012
NAME OF THE GROUP MEMBER
NAME: ID: E-MAIL: NUMBER: ANAN ASHEQ AREFEEN 1020644 email@example.com 01719154064 MD. RIAZ SHOAIB 0910383 firstname.lastname@example.org 01673390837 FAHIM MUNTAQIM 0921111 fahim@email@example.com 01915483658 FAHAD HOSSAIN 0921338 firstname.lastname@example.org 01677676794 TAWSIF BIN MAKSUD 0910374 email@example.com 01671070843
White appliance is a foreign company and it’s trying to get in Bangladeshi market. In Bangladesh the average monthly income is about 500 dollar a month which is 35000 in Taka. So the income scale is medium. According to our survey we figured out that microwave oven is used by the people whose income scale is about 70000-80000 or higher in the month. If we consider the social class, we found the people from the higher and higher middle class are using the microwave oven and the rest of the people are comfortable with the gas stove. In Bangladesh, the market of microwave oven is not that good enough. Our company cannot sustain in this limited amount of market. The company actually wants a huge market to do business. In this case, we got only one option and that s to expand the usage of microwave oven in the country and to do so we need to target a new segment. We can’t just work on only two classes. Rather we need to concentrate on the middle class and upcoming middle class people.
To expand our market, we targeted the middle class and upcoming middle class families and to do so, we need to promote our product as a permanent need. For example, if we think of a house appliance, we always think about a tv, refrigerator, furniture etc. So we need to work in such a way that we can point that microwave oven is a must in a home appliance.
We have gone thru most of the middle class families recently to get their opinion and found that they can actually afford to buy a micro wave oven. The cost of a microwave oven is about 7000-10000taka but the problem is the usage cost. They say microwave oven consumes lot of electricity and it creates a huge electricity bills which sometime get beyond affordability. Even most people believe the oven make food tastes bad. Many of them don’t know how to use the microwave oven; even many of them misinterpret the microwave oven that it is a source of cooking food. Yes of course microwave oven is a cooking product but it is not suitable for our Bangladeshi food habit. We cannot cook our food in microwave as it is made on European context. It is very good for ready made food. Since, Bangladeshi people are not habituated in ready made foods; we can promote the oven as a source of freshen up the food by heating it.
So the factor that mostly will create problem interfering in Bangladeshi market is: 01. Huge amount of electricity consumption
02. People misinterpret the product
03. People think oven make food taste bad
The most important and common problem is the electricity consumption. Microwave really takes a huge quantity of electricity to operate. To sort out this problem we are concentrating on manufacturing as special kind of oven named the electric convection oven. In this oven it has a special device or an adaptor which make the oven consume less energy and heat the food like the typical microwave ovens. A table is given below
Appliance |Temperature |Time |Energy |Cost | |Electric Oven |350 |1 hour |2.0 kWh |11.2 | |Electric...