This report provides a complete brief about the marketing plan of Nutrisoy. It also present and future scenario of Nutrisoy in terms of marketing strategies applied and will be applied to promote Nutrisoy and achieve a good brand position among the target market. It has pointed out essential marketing strategies that are applied and will be efficient to apply for future sale and brand positioning.
It describes marketing strategies, marketing mix and all the promotional activities that is undertaken and will be undertaken. This report also provides forecasted sales for next three months and the procedures to achieve this target within a reasonable period.
Nutrisoy is prepared from soybeans that can replace animal proteins in individual diet. It contains 11vitamnins, 9minerals, lecithin and protein that are easily digestible, cholesterol free and lactose free. It is has natural ingredients and supports immunity system in body. It is packed in an international standard hygienic condition by UniMed and UniHealth Mfg.Ltd., one of the reputed pharmaceutical company in Bangladesh serving its customer for years. (Appendix I provides Nutrisoy product brief that explains all the details regarding Nutrisoy)
Now days in Bangladesh, majority of urban consumers are willing to pay more for healthy or healthier version of food. Many of them also state ‘Information about health and nutrition is too confusing’.
In Bangladesh, awareness among urban health conscious consumers about Soy foods as healthy and energy source increased dramatically. They gather information from Internet, relatives and peers living abroad and Word-of-Mouth. Health conscious people meticulously view the ‘Nutrition Facts Label’ of a food product to watch carbohydrate, fat, sodium or sugar intake.
There is no local authentic Soy product in the market. Few imported brands like Black & Gold, So Good, Good Hope, Soy Milk and Vita Milk are imported from Australia, South Africa and Thailand. M.R.P. of 1 litre pack of these products is ranged from Taka 140/- Taka 190/-. They are available in superstores like Nandan, Almas, Dhali, Dedar, Tropikana etc. located mainly in posh areas like Gulshan, Bannani and Dhanmondi. The only isolated Soy Protein product ‘Whey’ is imported from USA. 3kg pack is sold in Taka 5,000.00 at a store in Gulshan (Tropikana).
➢ SWOT Analyses
• Soy Protein isolate imported from world best source- Solae, USA. • Guaranteed high quality protein food of plant origin. • Pioneer in the Soybean origin health food segment.
• Considered as an excellent meat free alternative.
• Healthy protein supplement at an affordable price.
• Produced hygienically by a highly reputed pharmaceutical company practicing GMP.
• Inadequate awareness about Soy Protein as energy food. • Inadequate knowledge about plant origin protein quality. • Unscrupulous manufacturers of Soybean based products eroding consumer confident on local products.
• Nutrisoy can emerge as the only high quality authentic Soy Protein energy beverage. • Creating emotional bondage with health conscious population as first plant origin protein source and subsequent ‘Brand Loyalty’. • Easy access to virgin market
• Getting hold of larger market with variants for special segments of diabetic and heart patients and women.
• Indian origin Soy Protein products with competitive price tag. • Import of soy protein products by other sources.
➢ Porter’s five forces
Threat of substitutes
Soya bean products and supplement is a new concept in Bangladesh and it does not have many substitutes. Substitute of Nutrisoy can be other protein supplement products such as whey protein (milk protein) that is also a good supplement for daily diet. Inspite of such protein products threat of substitute for Nutrisoy is...