Subject: Marketing Management
A Marketing Plan on
A product of Bombay Sweets & Co., Ltd.
Student ID: 5515140108
Prof. Dr. Jashim Khan
February 17th, 2013.
“BOMBAY SWEETS RING CHIPS”
Bangladesh not only has a rapidly growing economy, but is also one of the most densely populated countries in the world. The economic focus is turning from agriculture to industrial sectors, even though current economic conditions are not so good. Nevertheless, the snacks industries have great potential and opportunities for a bright future in the Bangladeshi market. All t ypes of snacks and chips are great favorites with people o f all ages, but especially with children, teenagers, and the 18 to 26-years-old generation. Snacks and chips are a kind of appetizer which people like to eat at break-time or between meals, wherever and whenever the opportunity arises. There are many international and local brands of chips all competing for this growing business market in Bangladesh. Consumers are therefore looking for a brand to purchase, whose products satisfy their tastes and preferences. The aim of this marketing plan is to develop the marketing strategies for the production of quality and healthy chips which will meet the demands of local consumers.
Bombay Sweets Ring Chips
Background of the company
Ring Chips is a product of Bombay Sweets and Company Limited (BSCL). The company is a name which has been associated by consumers for more than 5 decades with snack foods in Bangladesh and abroad. It made its modest start in 1948, gradually increasing its popularity amongst consumers by meeting their demands. Initially, BSCL served its customers through its own outlets, and within 20 years the company had established 28 such outlets throughout the country.
BSCL is historically and currently one of the most successful snacks companies in Bangladesh, with many kinds of snacks and chips. One of the company's most successful products has been RING CHIPS, the first chip introduced by Bombay Sweets in Bangladesh. Decades after its introduction, it continues its popularity, but at a decreased volume , due to rising competition in the chips market and changes in consumer tastes. In 2008, BSCL re-launched Ring Chips with slightly updated packaging design, but this has not been enough to reverse the decline in popularity. Therefore, BSCL needs to regain the lost popularity o f Ring Chips with re-branding and new commercial strategies.
Current Market Situation
Ring Chips is a known and liked product which has gradually faded from public memory, as it loses popularity and market -share, due to the many competitors in the market. The Ring Chips brand was already re-launched in 2008, but the re-launch was on a minor and insignificant scale. BSCL needs to renew public awareness through advertisement. Increased advertising through TV, radio, internet and newspaper are the primary channels for raising public awareness. Very few commercial advertisements for Ring Chips have appeared on television, and many people do not know that they are available at the market. As a result, Ring Chips are currently struggling to catch the consumers' attention. BSCL has created a page on Facebook, but even this has not been fully developed and is under-utilized.
The distribution of the product is very poor , with the result that many shops do not sell the product. Many retailers do not want to stock the product because o f its price being too low compared to competitors’ products. BSCL sells Ring Chips at Tk. 6, while other companies sell their chips at Tk.8-14. Therefore, improved distribution of the product should be sufficient to begin competing with other companies, and keeping the low price would add to their competitive advantage.
Bombay Sweets Ring Chips
The potential market for a product...