Marketing of Spice Powder in Dhaka City

Topics: Spice, Ginger, Spices Pages: 13 (4042 words) Published: June 12, 2013
Marketing of Spice Powder in Dhaka City
A Case Study on Square Consumer Product Ltd.

Nasrin Shah Naaz
Senior Lecturer Faculty of Business and Economics Daffodil International University Prince Palaza (6th Floor), 4/2, Subahanbagh, Mirpur Road, Dhaka-1207. Cell: 01713493078 e-mail: nsngold@yahoo.com

Fariha Tasnim
Lecturer Faculty of Business and Economics Daffodil International University Prince Palaza (6th Floor), 4/2, Subahanbagh, Mirpur Road, Dhaka-1207. Cell: 01190186952 e-mail: tfariha@yahoo.com

Marketing of Spice Powder in Dhaka City
A Case Study on Square Consumer Product Ltd.
Abstract: The objective of this paper is to examine the marketing pattern of a leading powder spice ‘Radhuni’ offered by Square Consumer Products Ltd. (SCPL) in Dhaka city. The research focuses on procurement of raw materials, distribution channel, pricing, promotion activities and customer opinion regarding ‘Radhuni’ powder spices. The study revealed that SCPL market their product at premium price due to the quality features of ‘Radhuni’. 56 percent of consumers opined that Radhuni spices powders are very good in quality. The study suggests that SCPL should consider value based pricing instead of cost based pricing and SCPL should go for field survey to find out consumer’s opinion which in turn help them to maintain leadership position in spice powder market of Bangladesh.

Key Words: SCPL (Square Consumer Product Ltd.), ‘Radhuni’ spices powder, Consumers’ Opinion, Marketing Pattern and practice, Product quality. 1.0 Introduction The use of spices in cooking foods is a primitive event. Spices not only bring aroma and good taste to the cooked foods but also possess some food value. Bangladesh has a fertile land and favorable climate for the cultivation of chili, turmeric, cumin, onion, ginger and coriander. The area & production of spices during 2005-06 were about 1,43,764 hectare area & 3,15,830 metric tons respectively . Since Bangladesh has comparative advantage in agricultural activities, it can achieve economic prosperity through agri & agro business. Traditionally these crops are crushed to prepare grinded spices, but the complex socio-economic condition leads to the popularity of ready made spices. As the women of today are busy with their carriers, the demand of branded spices powder is increasing day by day. Recently availability of spice brands implies that market for spices product in Bangladesh is increasingly gaining momentum. Until recently no major research work has been done on the marketing practices of powder spice in Bangladesh. Before 2000, even there was no local brand of spice powder in the market that can satisfy the needs and wants of the consumers of Dhaka city. Square Consumer Products Ltd. (SCPL), a sister concern of Square Group, is one of the largest manufacturers and marketing concerns in the powder spice arena in Bangladesh. After finding the market demand of quality spices until 2001, SCPL started its challenging journey with branded turmeric powder under the brand name Radhuni. A prudent analysis of market opportunities, customers demand, and competition provoked SCPL to introduce new products under the same brand in the market for a phenomenon growth within a very short period. More importantly SCPL correctly identified that only a few number of packed spices powder were in the market which did not satisfy its customers because of poor quality. At that time SCPL came to market with a promise to deliver quality spice. Their spices powder is made from selected variety of crops & seeds. All essential oils of the spices are kept intact with the fully equipped German grinding technology. Actually, the value of spice increases due to the presence of aroma & the essential oil. It has been playing “market leader” role in producing & marketing of spice product in the whole Bangladesh.

2.0 Research Objectives
The primary objective of this study is to analyze the marketing practices and patterns of...

References: 1. Retrieved from: www.theepicentre.com 2. Crosby, M. R. (2008). "Senna," Microsoft® Encarta® Online Encyclopedia 2008. Retrieved from http://encarta.msn.com/encyclopedia_761561243/Senna.html
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