Many industries contain one firm that is the acknowledge market leader. This firm has the large market share in the relevant market and usually leads the other firms in the price changes, new product introduction, distribution coverage and promotional intensity. Moreover, it acts like a benchmark in the competitive product market. Some well-known market leaders in Bangladesh are Bata (Sports, leisure and outdoor footwear), Coca-Cola (Soft drinks), Unilever (Toiletries, cosmetics), Pran (fruit and vegetable processor).
“PRAN” is currently the most well known household name among the millions of people in Bangladesh and abroad also. Since its inception in 1980, PRAN Group has grown up in stature and became the largest fruit and vegetable processor in Bangladesh. It also has the distinction of achieving prestigious certificate like ISO 9001:2000, and being the largest exporter of processed agro products with compliance of HALAL & HACCP to more than 70 countries from Bangladesh.
PRAN is the pioneer in Bangladesh to be involved in contract farming and procures raw material directly from the farmers and processes through state of the art machinery at our several factories into hygienically packed food and drinks products. The brand “PRAN” has established itself in every category of food and beverage industry and can boost a product range from Juices, Carbonated Drinks, Confectionery, Snacks, and Spices to even Dairy products.
Today, our consumers not only value “PRAN” for its authentic refreshing juice drinks products , but also for its mouth watering quality confectionery products with high visual appeal and exciting texture. We intend to expand our presence to every corner of the world and strive to make “PRAN” a truly international brand to be recognized globally.
TARGET MARKET OF PRAN:
Market segmentation of PRAN reveals the company’s market segment opportunities. The firm now must evaluate the various segments and decide how many and which segments it can serve best. We now focus on how Pran evaluate and select target segments.
• Evaluation of the Target Market:
In evaluating different market segments, Pran has emphasized on three factors: -Market size and growth
-Segment structural attractiveness
-Company objectives and resources.
Pran has collected and analyzed data on current segment sales, growth rates, and expected profitability for various segments. The largest, fastest growing segments are not always the most attractive ones for every company. Smaller companies may lack the skills and resources needed to serve the larger segments. Or they find these segments too competitive. Such Pran may target segments that are smaller and less attractive but that are potentially more profitable for them.
• Selection of Target Market:
After evaluating different segments, Pran has decided in which and how many segments they will target. They look broader segments of buyer where comprehensive variables are considered for an effective marketing like: Geographic, Demographic, Psychographic and behavioral pattern which can lead a firm’s mission become true. Such as country, city or metro size, density, climate, age, gender, family life cycle, income level, occupation, education, religion, race, generation, nationality, social class, lifestyle, personality, occasions, benefits, user status, user rates, loyalty status, attitude toward product. Bangladesh is a tropical country of fifteen cores people where majority of people are low income level. Pran has selected this group as a potential target market.
MARKETING MIX OF PRAN:
The business mission of Pran is defined as the corporate-wide expansion to increase production capacity across business lines to be undertaken by the PRAN during FY2009 –2011. PRAN is one of the leading branded food and beverage producers in Bangladesh. The company produces a wide range of products, which can be categorized into six broad...