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A term Paper

On

Marketing plan

1.0 EXECUTIVE SUMMERY


RKK is a fashion house producing fashion wears for Bangladeshi Market. The
company has newly entered in the market to offer Bangladeshi fashion new
and innovative dresses and accessories for men and women. To meet that
mission the cost of the product may become very high comparison to other
competitors but RKK is offering the same price level with a very high quality
warm weather effective product which is not being offered by the other
existing companies in Bangladeshi Market. Our additional product fashion
accessories are also very innovative and affordable. The companys
marketing objective is to offer the consumers fashionable dresses compatible
with the Bangladeshi weather and achieve first years market share of 5
percent and sales of 200,000 units. RKK has several powerful strengths on
which to build but our major weakness is lack of Brand awareness and image
to consumers. The major opportunity is growing demand for weather
effective fashionable wear for both men and women in the corporate and
regular users. We also face the threat of ever greater competition and down
ward pressure on pricing. Although strong competition with the established
competitors, we can offer the consumers more value and unique
technological benefit that will help us to gain the market share and high
brand image to the consumer for the next generation fashion wears. We are
offering high quality, special benefits and affordable price that will give us
the most significant place in the market. Almost all the strong points of the
competitors can be meeting up with the strategies of our company.
RKK will establish a well regarded brand name link to meaningful positioning.
We will have to invest heavily in marketing to create a memorable and
distinctive brand image projecting innovation, quality and value. We also
must measure awareness and response so we can adjust our marketing
efforts if necessary. Our consumer market is middle-middle to upper-upper
income Professional, Students, youths, and Trendy Users who are basically
fashion lovers and comfort seekers.
Using product differentiation, we are positioning our product as the most
versatile, convenient, unique, comfortable, elegant, and elite and value
added style for personal, occasional and professional use. Consumers will
remember our brand whenever they think of comfortable but very elegantly
fashionable outfits specially made for him or her in purpose in the life.
Total first year revenue for the RKK Fashion House is projected at
200,000,000 BDT, with an average whole sale of 1000 BDT per unit variable
cost per unit 300 BDT sales volume of 200,000 units. Break even calculations
indicate that RKK will become profitable after the sales volume exceeds
42857 units.

We are planning tight control measures to closely monitor quality and


customer service satisfaction. This will enable us to react very quickly in
correcting any problems that may occur. Other early warning signals that will
be monitored for signs of deviation from the plan include monthly sales and
monthly expenses.

2.0 PURPOSE AND MISSION OF RKKS MARKETING PLAN

RKK is a fashion house producing fashion wears for Bangladeshi Market. The
company has newly entered in the market to offer Bangladeshi fashion new
and innovative dresses and accessories for men and women.
The house will conduct researches on market and consumer demand in
Bangladesh and will outsource the product manufactured from china. As we
want to provide the high quality products in a convenient cost for the
customers, technological benefits of outsourcing from China will be suitable
to meet up the demand at a low cost with high technological and cost
minimizing benefit.
HISTORY:
RKK started their business with a variety shop in GULSHAN Market in the
year of 2011. Mr.Mohsin Rahman Rony he founders of this renowned brand
not only in Bangladesh also in other countries specially china. Had kept a
small part of that shop for shirts that they designed by themselves.
Depending on marketing strategies, Mr.Mohsin Rahman Rony decided to
only sell designer gens clothes. The story then began. Recently RKK has
included Ladies wear, shoes and silver jewelery products according to their
customers feedback.
PURPOSE:
The companys marketing objective is to offer the consumers fashionable
dresses compatible with the Bangladeshi weather and achieve first years
market share of 5 percent and sales of 200,000 units. Our financial
objectives are to achieve first years revenue of 200,000,000 BDT and to
meet the break even in the first year. Next year, we want achieve 2% profit
from the 300,000 sales unit with 300,000,000 BDT and 600,000 BDT.

MISSION:
To offer Bangladeshi consumers fashionable and weather effective wears
with high quality and in affordable price and take the market leader position
in next five years.
RKK is committed to offer the high value to the consumer by serving the
market with wears that are suitable for weather of Bangladesh.
To meet that mission the cost of the product may become very high
comparison to other competitors but RKK is offering the same price level
with a very high quality warm weather effective product which is not being
offered by the other existing companies in Bangladeshi Market.
Our
additional product fashion accessories are also very innovative and
affordable.

3.0 SITUATIONAL ANALYSIS


3.1

Market Summary

RKKs market consists of consumers who need convenient stores, regular


trend update, stylish but weather suitable and comfortable outfit in any
season, pure fabrics and well quality swing, buttons and lining which make
them feel unique. RKK targeted YOUTHS, PROFESSIONALS, STUDENTS and
TRENDY USERS market for the first year.
Table 3.1 shows the targeted segments, their needs and its corresponding
features or benefits offered by RKK:

Table 3.1
Targeted
Segments
Youths

Customer Needs

Corresponding Features/Benefits

Fashionable
Dress
and Accessories on
occasional basis

Fashionable Party and festive


dress
Sophisticated and elegant cutting
Soft fabrics and clean lining
Cool and comfortable shape for
flexibility

Designed on occasional & regular


use

Flexible
&
Professiona
Comfortable Formal
ls
Stylish Outfit

Formal but trendy outfits


Effective in warm weather
Straighten Fabric that need no
iron
Sophisticated and elegant cutting
Semi formal shape for regular
usage

Comfortable Regular

Usable
Casual
Dresses

Effective in warm weather


Casual & Semi formal style for
regular usage
Comfortable for regular use

Trendy and Elegant Cutting


Stylish & Trendy formal and
casual
Fashion Accessories
Unique color, metals, stones and
lining
Fashion
lovers
exclusive
collections

Students

Trendy
Users

Latest Trendy Stylish

Dresses with Fashion

Accessories

RKKs consumers can choose all the products on occasional basis or for the
specific benefits. The features or benefits provided are less or more provided
by the competitors but they will find it hard to compete with us because we
are providing more value than competitors at the convenient prices. Our
price levels are little bit high to ensure the consumers that the quality is
high.
We call our products nest generation fashion wears because it is provided
with weather suitability and highly comfortable. In Bangladesh, warm
weather lasts for almost 8 months. For this reason the clothes have to be
cool in high humidity and straighten fabricating which needs low rate of iron.
The products are designed to ensure saggy-proof which caused by
contentious sweating. That decreases the jolliness and softness of the fabric.
Even the shape and cuts of the dresses are very well though and
systematically designed which ensures the minimum joints and lining edges.

Before the competitor hit this quality and product features (competitive
advantage), RKK will be already catching their segmented markets in the
first year. That will bring us the opportunity to take the market leadership in
the next generation fashion wear market.

3.2

SWOT Analysis

RKK has several powerful strengths on which to build but our major
weakness is lack of Brand awareness and image to consumers. The major
opportunity is growing demand for weather effective fashionable wear for
both men and women in the corporate and regular users. We also face the
threat of ever greater competition and down ward pressure on pricing.
STRENGTHS:
1. Innovative and Unique Technology:
We use most innovative technology to fabricate and design the dresses
as well as to manufacture those by out sourcing from china and USA.
Using these technologies is very rare in Bangladesh used by other
competitors in the exiting market.
2. Weather Effective and Fashionable Products:
RKK is the first company in BD who produces weather effective
comfortable fashionable wears for the warm weather. This is the
strongest competitive advantage of our house.
3. Pricing:
The technology and the product features we are using require very
high pricing. Based on this factor the price would be very high but we
are offering minimum price relative to the product features. Even the
price is little bit high comparison to other competitors in Bangladesh to
create the image of high quality and higher value.
WEAKNESS:
1. Lack of Brand Awareness and Image:
RKK has not yet established the brand and image in the market where
other competitors like Westeks and CatsEye is already very strong
brands in the Bangladeshi market.
2. Lack of indigenous fashion trend in the products:

We used the stylish western and semi western (Bangladeshi Local


and Western Fashion Mixed Fusion) trends in our product design, where
BanglarMela, Aarong (except Aarongs Taga) or DesiDos (Alliance
of 10 Indigenous Fashion House) are proving pure indigenous Bengali
fashion outfits to the consumers. In the first year and second year we
cannot hit this segment but it consists of a large number of consumers.

OPPORTUNITY:
1. Growing Demand:
The major opportunity is growing demand for weather effective
fashionable wear for both men and women in the corporate and
regular users in Bangladesh. As the weather is getting extremely hot or
cold in the respective seasons, the consumers seeks for more
comfortable fashion wears.
2. Better Development in Fashion Technology:
Technologies in this field are being developed very faster to make the
dresses more comfortable and weather effective as well as more
lasting. That will result in reducing the costs and increasing more
quality to offer.
3. Diversified Trends Need of Consumers:
Consumers are more aware and thoughtful now in Bangladesh that
gives us the opportunity to offer more high quality products in suitable
price level. Diversification in fashion trends and quality is more risk
free for now in Bangladesh.

THREATS:
1. Increased Competition:
More companies are entering in the Bangladeshi fashion wear market.
They can easily adopt this features and technologies in their
production strategy. But all the features of RKK offered to the market is
very profitable that we need to communicate those very effective that
other cannot even think to reach there.
2. Downward Pressure on Pricing:
Increased competition and market share strategies are pushing fashion
wears prices down. Still our objective of seeking a 2% profit on the

second year is realistic, given the lower margins in the fashion wear
market.

3.3

Competition Analysis

Increased entry of established and new fashion houses in the market has
pressured industry participants to continually add features and cut prices.
Competition from high quality and technology bases production for comfort
and flexibility to use the products are also some key factors in this market.
Our key competitors are:
Westeks
Westeks is providing high quality of fashion products with western and
trendy dresses using outsourced technologies for manufacturing. They
have a large variety and unique designs in the product and outlets as
well.
Ecstasy
Ecstasy has variety and creativeness in color, design, shape and
outlets that consumers find it more affordable and valuable. Ecstasy
has effective distribution system and high brand image.
Trends
Uniqueness and product design rotation is their main feature in the
market. They are really successful to provide trends in the market.
CatsEye
Have very high brand image and the advantage of being pioneering in
the outsourced dresses but their product variation and uniqueness is
low.
Aarong
They are very diversified in the dress design and very indigenous in the
trends to the consumers. Have strong brand image and diversified outlets
with variety of accessories and dresses. Taga is one of the pioneer Ladies
Western Fashion Brand of Aarong which offers very high fashionable Banglawestern fusion dresses for women in Bangladesh.
Despite strong competition with the established competitors, we can offer
the consumers more value and unique technological benefit that will help us
to gain the market share and high brand image to the consumer for the next
generation fashion wears. We are offering high quality, special benefits and
affordable price that will give us the most significant place in the market.

Almost all the strong points of the competitors can be meet up with the
strategies of our company.
3.4

Product Offering:

RKK product offers the following standard features:


Formals Dresses
Pants, Trousers, Shirts, Formal Polo Shirts, Blazer, Coats and Ties for
Men
Shalware, Kamij, Shirts, Pants, Blazers and Blouses (Tops) for Women
Formal Cuts and Linings
Elegant color and texture
Stylish and highly fashionable
Low use of outer faced swings and threads
Strengthen Fabrics that need less iron and do not get saggy in rough
use
Variation in edging and cut edges that differs from existing fashion
Light weight and comfortable for the shaping and swing
Casuals Dresses
T-shirts, Jeans, Polo shirts, Trousers and Windy for Men
Jeans, T-shirts, Polo shirts, Trousers, Capri and Tops for Women
Informal stylish Cuts and decorated Linings
Elegance in texture and fitting
Stylish and highly fashionable in occasional use
Strengthen Fabrics that need less iron and do not get saggy in rough
use
Variation in edging and cut edges that differs from existing fashion
Accessories
Metal, wood ornament and leather money bags, hand parse, chain,
bracelets, belts, Tie, Cap etc
Light weight and exclusive shapes
Stylish and highly fashionable in occasional use

3.5

Distribution:

RKK branded product will be distributed through a network of selected store


and RKK Branded outlets. Outlets and Selected stores are:

RKK Branded Outlets:


We will use our own establishments and rented outlet in the main cities of
Bangladesh. Our own branded outlet will place all the products we offer in
the market.
Franchise Outlets:
We franchise some of the company to use our logo and marketing strategy
for selling our brand product in the selective distribution stores all over the
country.

4.0
4.1

Marketing Strategy
Objective:

We have set an aggressive but achievable objective for the first and second
years of market entry.
First Year Objective:
Our first year objective is to gain first years market share of 5 percent
and sales of 200,000 units. Our target is to achieve first years revenue
of 200,000,000 BDT and to meet the break even in the first year.
Second year Objective:
We want achieve 2% profit from the 300,000 sales units with
300,000,000 BDT and 600,000 BDT. That gain 10 percent market
share.
An important objective will be to establish a well regarded brand name link
to meaningful positioning. We will have to invest heavily in marketing to
create a memorable and distinctive brand image projecting innovation,
quality and value. We also must measure awareness and response so we can
adjust our marketing efforts if necessary.
The name RKK is the name of the core group of the company that is
launching the new product in the market. We will have to determine whether
we have to create a new brand name and image or on go with this existing
name instead of using the mother brand name RKK.
4.2

Target Market:

Our marketing strategy is based on a positioning of product differentiation.

Our consumer market is middle-middle to upper-upper income


Professional, Students, youths, and Trendy Users who are basically
fashion lovers and comfort seekers.

We also targeted those who are very stylish and elegant in choice in
the dresses. They like to use unique dresses in benefit, quality, color,
fabric and features.

Our targeted segments can be described by age, usage status


income that are:
Segments

Age

Usage Status

and

Youths
Professionals
Students
Trendy Users
4.3

16-35
25-50

Occasional / Celebration/Regular
Formal User
16-28
Celebration/Regular User
20-45
Personal Fashion

Positioning:

Using product differentiation, we are positioning our product as the most


versatile, convenient, unique, comfortable, elegant, and elite and value
added style for personal, occasional and professional use. Consumers will
remember our brand whenever they think of comfortable but very
elegantly fashionable outfits specially made for him or her in purpose
in the life.
4.4

Strategies:

Marketing strategies need to broken down into strategies in specific


areas of 7Ps.
Product
Formals Dresses
Pants, Trousers, Shirts, Formal Polo Shirts, Blazer, Coats and Ties for
Men
Shalware, Kamij, Shirts, Pants, Blazers and Blouses (Tops) for Women
Casuals Dresses
T-shirts, Jeans, Polo shirts, Trousers and Windy for Men
Jeans, T-shirts, Polo shirts, Trousers, Capri and Tops for Women
Accessories
Metal, wood ornament and leather money bags, hand parse, chain,
bracelets, belts, Tie, Cap
Pricing
The technology and the product features we are using require very
high pricing. Based on this factor the price would be very high but we
are offering minimum price relative to the product features. Even the
price is little bit high comparison to other competitors in Bangladesh to
create the image of high quality and higher value. The price level of
the products will vary from 500-20,000 which is 2% extensive than
other competitor but comparison to the quality it is affordable.
Distributions

RKK branded product will be distributed through a network of selected


store and Branded outlets. Outlets and Selected stores are:
RKK Branded Outlets: We will use our own establishments and
rented outlet in the main cities of Bangladesh. Our own branded outlet
will place all the products we offer in the market.
Franchise Outlets: We franchise some of the company to use our
logo and marketing strategy for selling our brand product in the
selective distribution stores all over the country.
We will cover the placement system through companys van and other
distribution systems and vehicles.

Marketing Communication
By integrating all messages in all media, RKK will reinforce the brand
name and the main points of product differentiation, especially our
especially our exclusive feature. Research about media consumption
patterns will help our advertising agency choose appropriate media
and timing to reach prospects before and during product introduction.
Thereafter, advertising will appear on a pulsing basis to maintain brand
awareness and communicate various differentiation messages. The
agency will appear on a pulsing basis to maintain brand awareness and
communicate various differentiation massages. the agency will also
coordinate public relations efforts to build the brand and support the
differentiation massage. To attract market attention and encourage
purchasing, we will offer as a limited time seasonal price reduction as
special offers. Until the brand has been established our
communications will encourage purchases through channel partners
rather than from our Web site.
The communication tools will be:
Bill boards
Website
Magazine & Paper Ads
Cosponsoring Fashion Events
FM Radio
Neon Signs
People
Sales person and associates will be provided with the outlet uniforms
that will bring our brand messages. They will be trained to handle
customers and behave in a
very effective and unique style
corresponding to our brand image.

Physical Environment

4.5

Our branded outlets will be decorated according to our brand and the
whole environment of the outlets will give the customers a very special
moment to visit them. Physical environment will reflect our value and
quality to the consumers.
Marketing Mix:

Spring:
We will initiate 30% trade sales promotion in the spring season for the
products of cold weather. Various outlet will be decorated under the hot
weather seasonal environment and sales force will effort to sale up to 30%
sales allocated for the first year in second term. Accessories department do
not have any variation on the seasonal basis.
Summer - Fall:
RKK will initiate 70% trade sales promotion in the summer to fall season for
the products of warm weather. Various outlet will be decorated under the hot
weather seasonal environment and sales force will effort to save up to 70%
sales units allocated for the first year in this term.
4.6

Marketing Research

Using research, we will identify specific features and benefits our target
market segments value. Feedback from market tests, surveys, and focus
groups will help us develop the RKK Brand Products. We are also measuring
and analyzing customers attitudes towards competing brands and products.
Brand awareness research will help us determine the effectiveness and
efficiency of our messages and media. Finally we will use customer
satisfaction studies to judge market reaction.

5.0

Financial Analysis

5.1 Break Even Analysis


Total first year revenue for the RKK Fashion House is projected at
200,000,000 BDT, with an average whole sale of 1000 BDT per unit variable
cost per unit 300 BDT sales volume of 200,000 units. Break even calculations
indicate that RKK will become profitable after the sales volume exceeds
42857 units.
Our break even analysis assumes per unit whole sale revenue of $300 per
unit, variable cost of $300 per unit and estimated first year fixed costs of
30,000,000 BDT. Based on this assumption Break even calculation is:

30,000,000
1000 -- 300

5.2

=
BDT

42857

Marketing Budget

Marketing expense budget

2010-2011

Web site
Advertisement

11,00,000

Printed materials

80,000

Sales force

50,40,000

Total Sales and Marketing expenses

BDT
1,12,00,000

44,80,000

6.0 Implementation & Controls


6.1

Implementation:

We are planning tight control measures to closely monitor quality and


customer service satisfaction. This will enable us to react very quickly in
correcting any problems that may occur. Other early warning signals that will
be monitored for signs of deviation from the plan include monthly sales and
monthly expenses.

References
1.
2.
3.

Marketing Management, by Phillip Kotler & Kevin Lane Keller


Internet
Various web pages