Pran Objectives

Topics: Marketing, Marketing plan, Product management Pages: 6 (1855 words) Published: April 14, 2013
(Financial & Marketing Objective)
6.1 Financial Objectives
Pran management wants each business unit to deliver a good financial performance. The product manager sets the following financial objectives: • Earn an annual rate of return on investment over the next 5 years of 3 percent after taxes • Produce net profits of Tk.50,00,000 in 2009.

6.2 Marketing Objectives
In this section of the plan, marketing objectives must convert the financial objectives into marketing objectives. We want to earn Tk.50,00,000 profits and its target margin is 10 percent on sales, then it must set a goal of Tk.5,00,00,000 of sales revenue. We set an average price tk.15 for 200ml and Tk.35 for 500ml. The company expects the total sales of Chocolate Milk are 20,00,000 units of 200ml and 5,72,000 units of 500ml pack that include 6,86,000 liters of prepared milk. For achieving this market share, the will have to set certain goals for consumer awareness, distribution coverage, and so on. (Marketing Strategy for “Pran Chocolate Milk”)

7.1 Market Segment:
The market has been segmented on the basis of geographic and demographic factors. People who live in the Dhaka city, aged 6 to 25 years and high income generated, do not prefer normal milk are our primary segmentation for “Pran Chocolate Milk”. It is an effective segmentation; because it is accessible, substantial, and actionable. 7.2 Target Market:

In evaluating different market segments, we set our target market as 6 to 25 years old people who live in Dhaka city considering the selective specialization. 7.3 Market Positioning:
The product strategy is also based on quality. In this case, we have positioned our product as full cream HALAL Proved milk with Strawberry and Vanilla flavor that can differentiate it from the competitors’ products. 7.4 Product line:

a. Pran Strawberry Chocolate Milk
b. Pran Vanilla Chocolate Milk
7.5 Quantity:
We have planned to launch Chocolate Milk in 200ml and 500ml pack for both Strawberry and Vanilla Chocolate Milk. 7.6 Price of the product:
We set the price for our valued consumers for 200 ml @ tk.15 & 500 ml @ tk. 35. 7.7 Distribution Outlets:
To distribute our new product to consumers, we will emphasize on Retail stores and super shops, and even the grocery shops as well which are already involved in selling our existing products and also allow new one in which frozen foods storage equipments are available. 7.8 Service:

Basically, Pran Chocolate Milk is a packaging and instantly useable frozen food; we will provide our product in time to the sellers so that consumer can get it timely. We will open complain box in where consumer will put their complains and suggestions that will be helpful to the company for further improvement of the product. 7.9 Sales Promotion:

Sales promotion consists of short term incentives to encourage the purchase or the sales of a product or service. Now, Sales promotion offers reason to buy product or service. The main objective of this Sales promotion is to increase short term sales or help to build long term market share. We will use this Sales promotion strategy in the following cases: 1. When inside the company, product manager faces greater pressures to increase the current sales, and Sales promotion is viewed as an effective short term sales tool. 2. When externally, the company will face more competition, we will use Sales promotion to differentiate our offer from the competitors. 3. When advertising efficiency will decline because of rising cost, media clutter, and legal restraints. 7.9.1 Sales promotion tools

We will use the best one among the following Sales promotion tools. Coupon
Coupon is certificate that gives the buyers a saving when they purchase specified product. Rebates
Cash refund offers or rebates are like coupons except that the price reduction occurs after the purchase. Consumer will show the proof of purchase and get the refund part of the purchase price. Price pack...
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