Marketing Plan for Bat for New Chewing Gum Essay Example
Executive Summary:
British American tobacco Bangladesh is planning to extend its famous brand 555 in chewing gum market. This chewing gum is very unique in terms of its ingredients and till now no other competitors have come up with such idea. We are targeting smokers as our target market since the chewing gum is specially made to remove the after taste and smell from smoking cigarettes. This 555 chewing gum is a sugar free and Aspartame (toxic sweetener) free strong mint gum with an essence of Apple that provides long lasting fresh breath.
The primary marketing objectives of this plan for the first year are to achieve 6 percent of the Bangladesh market share and unit sales of 850,000. The primary financial objectives are to achieve first year sales revenue of taka 8.5 million by selling 850,000 units which will keep first year losses around 0.5 million and then try to make profit as early as possible in the second year.
Current Market Situation:
BAT has founded that the mint flavored chewing gum market in Bangladesh is mostly served by international manufacturer like Hershey’s, Wrigley’s and Perfetti Van Melle USA Inc. But still these manufacturers have not come with such idea of not using aspartame as a sweetener in their product. But since all these products have gained some popularity, the competition is high. The estimated size of the market is tk. 2 billion with a growth rate of 25% expected within the next four years. So BAT must carefully target specific market segment.
Market Description:
The market of the 555 chewing gum consists of consumers who smoke and want to get rid of the bad smell that come from their mouth after smoking. Only one segment is being targeted during the first year.
The purchaser of this chewing gum will get only one flavor at the initial stage. Increased competition has resulted in lower price and lower profit margin. Lower price is helping the sales of chewing gum in the lower end
British American tobacco Bangladesh is planning to extend its famous brand 555 in chewing gum market. This chewing gum is very unique in terms of its ingredients and till now no other competitors have come up with such idea. We are targeting smokers as our target market since the chewing gum is specially made to remove the after taste and smell from smoking cigarettes. This 555 chewing gum is a sugar free and Aspartame (toxic sweetener) free strong mint gum with an essence of Apple that provides long lasting fresh breath.
The primary marketing objectives of this plan for the first year are to achieve 6 percent of the Bangladesh market share and unit sales of 850,000. The primary financial objectives are to achieve first year sales revenue of taka 8.5 million by selling 850,000 units which will keep first year losses around 0.5 million and then try to make profit as early as possible in the second year.
Current Market Situation:
BAT has founded that the mint flavored chewing gum market in Bangladesh is mostly served by international manufacturer like Hershey’s, Wrigley’s and Perfetti Van Melle USA Inc. But still these manufacturers have not come with such idea of not using aspartame as a sweetener in their product. But since all these products have gained some popularity, the competition is high. The estimated size of the market is tk. 2 billion with a growth rate of 25% expected within the next four years. So BAT must carefully target specific market segment.
Market Description:
The market of the 555 chewing gum consists of consumers who smoke and want to get rid of the bad smell that come from their mouth after smoking. Only one segment is being targeted during the first year.
The purchaser of this chewing gum will get only one flavor at the initial stage. Increased competition has resulted in lower price and lower profit margin. Lower price is helping the sales of chewing gum in the lower end