BANALATA

SWEETS
 Description of Business:

This business will produce and supply of sweet item, bakery, fast food, and homemade food
item. The items will be sold in wholesale and retail basis on its own outlets. It will also supply
the food items in different social arrangement like marriage, milad, etc.

THE DESCRIPTION OF THE VENTURE:

o Mission & Vision:

The main mission is to established profitable and quality sweet manufacturing firm. We want to

establish sweet store which will be renowned for its quality and create a brand image. We have

already started our business from 2009. This firm will be successful in future because our aim is

attainable and our spirit is strong enough to achieve our goal.

o Objectives and Goal :

Most important objective of us is that we have an idea for expanding our business in future from
BANALATA SWEETS to BANALATA SWEETS & BAKERIES, also a plan to make some
branches of our stores in some selected area of Dhaka city. Our main target is to provide high
quality products which are our main goal.
 Industry Analysis:

Focus should be on task environment. For BANALATA SWEETS, our focus factors are:

o Industry Demand:

The demand for sweets is not fixed; rather in occasional program its demand is significant. Like:
S.S.C, H.S.C result date, Puja, Marriage ceremony etc.

o Competition:

Though a business does not want competition from other businesses,inevitably most will face a
degree of competition. The BANALATA SWEETS will not

in exception case. But our location of business may help it to achieve its target.

The BANALATA SWEETS could react to an increase in competition in future in the following

ways:

i. Cut prices: by adopting new technologies with time.

ii. Improve quality: it may increases the cost but ultimately it may help to increase customer

satisfaction.

iii. Spend more on promotion: may help to increase brand loyalty;

iv. Cut costs: by using cheaper materials, make some workers redundant cost may be reduced in

future.
 Production plan:

We will be involved in the whole producing process of our products. Means we will produce all
sorts of sweets which will be found in our stores except some items like the boguras doi,
tangailer chomchom from outside. We will make contract with some sweets stores in Bagura and
Tangail who will ensure us to supply pure doi and chomchom from their own production or
production units. Our company is semi automated, so there is need of some fixed machines. For
the purchase of fixed machines we obviously focus on the machines that will long lasting quality
and have lower maintenance costs. The karigors (worker) we chose for production of sweets are very
skilled. The procurement ingredients for our production are: milk, ghee, sugar, maoya, cheese,
etc. Milk vitas factory is established in Mirpur. So, it will be easy for us to collect some
procurement ingredients from here, it will also help us to reduce the transaction costs too. We
will also fix contract with our suppliers about the quality, quantity, prices of the procurement
ingredients.

The marketing plan:

o Defining the business situation:

We know that for analyzing market demand for first, it is very important to analyze the situation
and specify the objective of the project. It is very important to understand the current market
situation; the demand for Sweets is always same. Means in our country whatever the occasion it
is whether religious occasions, or ceremony parties, or any occasion sweet is must. Though the
new product of us has been received a new market challenge to cope with the existing
companies. However, the BANALATA SWEETS is quite confident about quality and own
self.

o Defining the Target market/Opportunities and Threats:

Sweets are always favorable to all. So, its difficult for us to segment the market. We will
obviously ensure about the quality of our sweets and its variety of flavors. But we want to make
us differentiate ourselves by providing special diabetic sweets for diabetic patient specially. We
mainly go for geographical segmentation first, where our main target is the pallbis people of
Mirpur. We also projected an assumption of numeric figure that our local customers means the
people of pollobi are about 60% others come from outside the Pollobi about 40%.

BANALATA SWEETS is a new firm and it can take opportunity of easy to enter in market.
Means in this market it is easy to enter for any organization. Consumer income is increasing-
which may also work as our opportunities. Our country is on the rise in economy our consumer
income is increasing. And as a result of better income the consumers are willing to pay for
hygienic commodities. BANALATA SWEETS may have to face some threats in their
business, like: they may face the threat in term of capture the market because already there are
some existing popular sweet stores in Mirpur so; its a challenge to capture the market share.

o Considering the Strength and Weakness:

BANALATA SWEETS has several powerful strengths on which to build:

New Positioning: The BANALATA SWEETS position the products with the higher quality
and locally produced product.
Core Strength: Proving high quality product and also want to give some new flavor.
Image: We will try to build our image with our quality products gradually.
Location: We chose this location considering many factors

BANALATA SWEETS has some major weaknesses:

Competitors: The major weakness of our firm is that there is already some existing

sweets stores some of them are also have some popularity.

Lack of brand awareness: BANALATA SWEETS is new in Pallabias well as in the

market. So, it has no brand or image in the market. Whereas our major competitors like

Muslim, Prince, Bonoful and all other major rivals have strong brand identification in the
market.

We also done the PEST analysis and find that there isnt such thing that may cause any threat
or weakness for us rather we get positive results which also influences to start the business as

soon as possible.

Segmentation:
BANALATA SWEEETS segmented their consumers based on geographical segmentation,
with the consideration of behavioral factor like occasion, user status, and user rate. Targeting the
Market: BANALATA SWEEETSs primarily target the all people of Pallabi and also other
people outside of Pallabi for which we make focus on the location in terms of choosing the
business place.

Positioning:
Using high quality and focusing on the location of it, we are positioning BANALATA
SWEEETS as the identical product. The marketing strategy will focus on the providing quality
food product as the main feature. We will also try to introduce some different taste and feature
to our products.

Defining Marketing Strategy and Acton Plan:

Our marketing-mix strategy is based on superior performance in the following areas:

o Product quality
o Consumers preference
o Geographical Segmented Area

Our marketing strategy will create awareness, interest, and appeal from our target market for

what New-Born offers our customers. BANALATA SWEEETS marketing mix strategy
comprised of these approaches to product strategy, customer services, pricing strategy, placing
strategy, and promotional or distributional strategy.

Product Strategy:
The BANALATA SWEEETS focuses in to introduce high quality sweets with various tastes
and flavor and also willing to introduce new special sweets for the Diabetic patient. Our
company mainly wants to establish thisBANALATA SWEEETS as specialty product. To
support our products position in the target market segment, our product will provide the higher
performance quality to our targeted consumers. We also give the opportunity to the customers to
taste before buy which will obviously help us to make a special place in the customers mind.

Customer Services:
Customer service is known as the word of mouth. For our company BANALATA SWEEETS

meeting the customer needs and creating loyalty is the primary goals. If the customer services are

poor than the customers may chose to buy from our competitors and reality is that we have to

face a high competition in market. We also have some plan to take some necessary steps to gain

high customer satisfaction.

o We will try to provide the home delivery services to the local customers, which will

obviously differentiate us from the other competitors.

o We will give the option to the customers to taste the sweets before giving purchase decision.

o The employees performance in term of their behavior with the customers, etc.

Pricing Strategy:

The BANALATA SWEEETS pricing strategy will be Our company will give comparative

benefit to our customer by pricing strategy The BANALATA SWEEETS use the market-

skimming pricing strategy to set price.

Distribution Strategy:
The BANALATA SWEEETS will be located in Pallabi-Mirpur. We chose the place by

considering some factors, like:

 i. Home delivery services
ii. Allow the customers to taste before purchase
iii. Give facilities to the customers to taste our sweets and know about the quality, for first few
days.
iv.
Action Plan:

We like to introduce an action plan for next six months. We hope that if the first six months
action programs will run well, then we will achieve our objective quickly. Within these months
our main concern is to attain our breakeven point. We are very concern about our new product,
like product quality, customers acceptability, comparative advantages etc. Now, as a
consequence BANALATA SWEETS is also trying to convert their risk into return. There are
three ways that need to be considered and those are:

i. Reduce customer (as increase quality competitors or price fluctuation or lack of

differentiation)
ii. Reduction in sales.
iii. Lowering goodwill (as if there is any adulteration willingly or unwillingly/ quality
measurement)
iv. Wind-up (due to personal reason or forcefully due to fierce competition)

BANALATA SWEETS should concentrate on following issues;

i. Provide variation in products

ii. Set optimum price to be superior in the market

iii. Make physical outlet in other areas (as the business grow bigger for diversification)

iv. Maintain quality (as ensured as before)

v. Find best Sweets concept from best area (will add value)

vi. Always concentrate on demand issues (to reduce wastage)

vii. If possible, provide special offers during peak seasons (like; eid, bangle new year, SSC/HSC

resultetc.)
 After preparing the business plan some points are found which the entrepreneur could made in

concern which will definitely help them a lot. To obtain the goals and objectives of the

BANALATA SWEETS more efficiently and quickly these points could help a lot:

i. The members did not prepare the written business plan. But in reality the written business

plan might work as a guideline for the members, and it would also help them in taking the

strategies that obviously help to their business.

ii. The members do not preserve the documents of their business, which might cause legal

problems and also could create the members conflict of interest.

iii. They (Partners) were not concern about the proper accounting system. For this reasonthey

have to face some problems in calculating the costs that occurred before production.

iv. The members are busy with several activities, for that reason they could not give proper time

in preparing business plan before establishing the business.

v. They plan for introduce special sweets for the diabetic patient but which can not be fulfilled

in reality.

vi. There is a mismatch in the projection about the raw materials that are needed in actual

manufacturing process.

vii. The partners were made their main focus on profit. Because they dont have any idea about

that BANALATA SWEETS can bear profit only for a short time but in the long run it will

not work.