Pran
Executive Summary
The objective of this study is to find out the marketing strategies of Pran launching an instant soup. We collected data, analyzed those data and got information and knowledge about the current market of Bangladeshi soup, currently Bangladeshi soup market is being dominated by two big brands. However these two brands are targeting the market broadly in an undifferentiated marketing strategy, therefore it will be wiser for Pran to target the market as far market segmentation. The marketing strategy of this brands have left a market gap, Pran can look into this gap and target this customers. Pran needs to position the marketing strategies in a way that the targeting customers find Pran Tastee Instant Soup better then the market offering. Pran needs to fix the locus of the product offer in the mind of target customer. In order to do so Pran needs to focus on marketing mix to get the right strategies for the right stage of product life cycle. Creating a superior Product taste, cheap priced, easy and quick to make, basically, a fun product that tastes great, comes cheap and can be made in 2 minutes. Pran has got a super distribution network therefore it will not be hard for Pran to supply its products right to the consumers. Pran prefers the indirect channel of distribution where there are two or more intermediaries, which has a strong relationship with the customers, so this will help Pran deliver a strong value for its instant soup. Initially pricing will be a vital factor as Bangladeshi markets are very sensitive to price, therefore it will be best to use penetration pricing at the launch and as the product gets more market share increase the price to maximize the profit. Pran needs to spend a lot of marketing budget on promotion especially during the initial stages of product life cycle. The major objective of the promotion will be to make customers familiar with the product and enhance their knowledge.
Table of Contents Name of The Topics |
The objective of this study is to find out the marketing strategies of Pran launching an instant soup. We collected data, analyzed those data and got information and knowledge about the current market of Bangladeshi soup, currently Bangladeshi soup market is being dominated by two big brands. However these two brands are targeting the market broadly in an undifferentiated marketing strategy, therefore it will be wiser for Pran to target the market as far market segmentation. The marketing strategy of this brands have left a market gap, Pran can look into this gap and target this customers. Pran needs to position the marketing strategies in a way that the targeting customers find Pran Tastee Instant Soup better then the market offering. Pran needs to fix the locus of the product offer in the mind of target customer. In order to do so Pran needs to focus on marketing mix to get the right strategies for the right stage of product life cycle. Creating a superior Product taste, cheap priced, easy and quick to make, basically, a fun product that tastes great, comes cheap and can be made in 2 minutes. Pran has got a super distribution network therefore it will not be hard for Pran to supply its products right to the consumers. Pran prefers the indirect channel of distribution where there are two or more intermediaries, which has a strong relationship with the customers, so this will help Pran deliver a strong value for its instant soup. Initially pricing will be a vital factor as Bangladeshi markets are very sensitive to price, therefore it will be best to use penetration pricing at the launch and as the product gets more market share increase the price to maximize the profit. Pran needs to spend a lot of marketing budget on promotion especially during the initial stages of product life cycle. The major objective of the promotion will be to make customers familiar with the product and enhance their knowledge.
Table of Contents Name of The Topics |