Proposal for New Product

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BUS 498

Internship Report Proposal

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North South University

Prepared for:

Abdul Hannan Chowdhury

Dean, School of Business

North South University

Prepared by:

Shah Fahad Zaman

ID# 072 194 530

Topic

“New Product Development: Development of new product (Yogurt) of Rangpur Dairy and Food Products Limited.”

BACKGROUND & RATIONALE OF THE STUDY

Bangladesh is a densely populated developing country. As the country is mainly an agro-based one, the agro-based industrial development might be the better future of our economy.

But it is a matter of regret that at this advanced age of science and technology, Bangladesh cannot compete in the international market with its agro-based products mainly due to the lack of advancement in agriculture.   As a result, foreign agricultural commodities are playing a dominating role in our market. Consumers prefer to buy imported commodities at much higher prices because of various reasons.

As for the milk based products, there are only a very few companies who are fighting in the market with a limited number of items against a full range of foreign items.   These foreign items have various product features such as packaging, flavor, taste, quality, durability, etc. suited to meet different customer options. Consequently, the buying decision of the customers goes in favor of the foreign items even if they are charged much higher prices.

Rangpur Dairy & Food Products Limited, commonly known as RD Milk,. Manufacturing Ultra High Temperature or UHT Fresh milk, pasteurized and flavored milk, ghee, butter, milk candy and chocolate candy and milk products and marketing the same in Bangladesh. But still there are lots of products that can be introduced in Bangladesh market. The ability for the sector to grow and prosper is based on improvements in cost efficiency and quality control at each level. It is only through the introduction of technologies at each of these levels that will increase demand for dairy products. Apart from current product list RD has interest to invest on new processing technology for branded yogurt for local market by adding value to the raw materials and maximize profit.

RESEARCH OBJECTIVE

The overall objective of the study was: To understand the role of value added milk products play in people’s daily lives in order to develop strategies to increase milk consumption.

The specific objectives of the research were:

(a) To determine the milk consumers’ key lifestyle drivers, values, beliefs and attitudes. (b) To find out where and when dairy products are consumed most (c) To identify frequency of cheese and yogurt consumption

(d) To find out amount regularly consumed.
(e) To identify perception of cheese and yogurt among study target group (f) To identify key likes and dislikes of value added milk products. (g) To find out the brand awareness in dairy industry.

Methodology

Data will be collected from both primary and secondary sources. Primary data will be collected from Rangpur Dairy and Food Products Ltd’s head office and factory. It will be acquired from:

o Notes taken during the internship
o Survey questionnaire, containing 15 to 20 questions, around 30 to 50 samples will be collected. o Data collected through direct communication.

Secondary data will be acquired from:

o Published brochures,
o Annual reports
o Web sites of the company
o Relevant magazines, books, newspaper, journals etc,
o Monthly reports,
o Published documents,
o Office circular and
o Other published papers, documents & reports.

Data analysis:

To measure the actual condition I will use both qualitative and quantitative tools.

Limitations of the study

The first obstruct is time itself. Due to the time limitation, it is not possible to spend sufficient time for the study. It is very difficult...
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