Summer

2020

Marketing Plan on
“Energy Plus Biscuits”

GROUP NAME:
THE MISFITS

MKT 201 (SEC-01)

Abul Khair Jyote
Lecturer
Department of Marketing
Independent University, Bangladesh

MKT 201, Section: 01

Group Name: The MISFITS

Members:
1. Md.Shihab Khan (1930819)
2. Mahmudul Hasan Avee (1821724)
3. Mst.Shazida Islam (1920225)
4. Shafat Saleh (1621596)
Date of Submission:
20th September,2020
 Executive Summary:
Olympic Industries is the leading biscuit manufacturer in Bangladesh. With some of the most
famous and popular brands in the country, such as Energy Plus and TIP, Olympic has a large
variety of biscuits which caters to all occasions and persons. No household, office, or tea stall is
complete without a famous Olympic biscuit. -The ingredients of Olympic energy biscuits are
Flour, corn starch, butter hydrogenated vegetable oil, skimmed milk powder, liquid glucose, invert
syrup, iodized salt, leavening agent, emulsifying agent and permitted flavors. There are two types
of Olympic energy plus biscuit in Bangladesh market. Those are family and standard and family
packet. The promotion discussion consists of a description and justification of the planned
promotion mix. In store demonstration, will be conducted to give consumers a chance to try
Olympic Energy Biscuits and learn about their unique taste. Each and every company needs
advertisement. Television advertisement is most important. Also, we are providing bill board, shop
board, magazine, newspaper, advertisement. The Strengths of our company are quality product,
goodwill, low-price and packaging is our biggest weakness. Opportunities consist of modification,
market widening, policies. Purchasing power, taste, substitutes companies are our biggest threats
in the market. The main objective of our company is increase revenue margin in the upcoming
years. We need to increase our efficiency and our image to shareholders. To capture a bigger
market share we need to provide better customer services. Being the market leader in the biscuit
market in Bangladesh It has been able to stride forward due to its continuous vision for growth, its
modern manufacturing facilities, and its extensive sales and distribution network, and it has always
yielded this influence to give back to the community. Olympic energy plus biscuit has perhaps the
most extensive sales and distribution network in Bangladesh, with a field force of just under 1,000
people representing each and every region of the country, boasting ‘Olympic energy plus biscuit’
in even the most far-reaching, remote corners of the nation. The Sales Force uses over 300
distributors nationwide and sells products to a total of over 4,00,000 outlets across the country.
 Table of Content:
1. Executive Summary
2. Table of Content
3. Current Market Situation
4. Assessment of 4Ps
5. Market description (Target market)
6. Competitive review
7. New Version of the product
8. Target Market
9. Market Segmentation
10. Targeting strategies
11. Positioning
Current Market Situation:
According to Bangladesh Auto Biscuits and Bread Manufacturers’ Association
(BABBMA), the total annual production of ‘Energy Plus’ biscuits currently stands at an
excess of almost 3,000 ton. On the contrary, the total annual production of biscuit is around
65,000 ton. The current market size of biscuit, bakery and confectionery items is Tk6,000
crore which was only Tk200 crore in 2004. The local manufacturers now meet 90% to 95%
of the domestic demand and the rest is imported.

As Olympics’ Energy Plus biscuits were really popular in Bangladesh within the
years between 2000-2010. But the Current Market Scenario, the market size for Biscuit is
around 65,000 ton per year (Approximate). Haque Biscuit Industries is the leading biscuit
manufacturer in Bangladesh with some of the most famous and popular brands in the country, such
as Mr.Cookies, Bourbon, 50-50, Treat, Tiger, Good Day & so on. Our Product Energy Plus biscuits
are now on the way of distinction. The mission of our marketing is to establish the product as
market leader as well as gain 40% of market share within 5 year.

Assessment of 4Ps:

Product Strategy:
Prioritizing on qualitative products that are tasty and affordable, launching new products
and improvising some of the old ones. Using healthy and good raw materials; modern and digitally
efficient equipment and hygienic production environment. Standardized and enticing packaging,
and informative labeling. Acquiring ISO Certification, so our products will be known for their
quality and health benefits as well as for their taste and reasonable price.

Price/Pricing Strategy:
Energy plus has followed a low-cost strategy to establish a market leader position. This is
the backbone pricing strategy of the Energy plus brand as a part of its marketing mix. The low
price of the Energy plus products along with the promise of high quality helps in fighting the
competitors. Though Energy plus believes in focusing on quality, it still has been able to manage
low cost due to the high volumes of production. It comes in base pack of taka 12 for biscuits
whereas others range from 10 to 28 taka. The low pricing strategy of Energy plus has enabled it to
retain its position as a market leader despite several new biscuit brands coming in the market as its
competitors. Energy plus focuses on a volume strategy and hence keeping its prices slightly lower
helps it to reach out to a huge audience.

Place & Distribution Strategy:

Energy plus products are widely available across all geographies across Bangladesh. With
a presence of very strong distribution network, Energy plus has been able to reach many retailers
all over Bangladesh. Apart from that, there are depot agents which further help in expanding the
distribution network. This is the reason why Energy plus products are present in every place be it
small shops or grocery stores to large retail stores. The wide distribution and availability of the
brand ensures that people keep Energy plus as their first preference of biscuit over other brands.

Promotion & Advertising Strategy:

Energy plus brand uses all media like TVC, print, online ads etc. as a part of its marketing
mix promotion & marketing strategy. Energy plus brand has always been associated with positive
emotions and has incorporated qualities like sharing and caring. Moreover, it started promotions
on a national level scale by fulfilling the dreams of selective children. Energy plus has been active
when it comes to promotions or tv advertisements. Moreover, all the products have attractive and
distinct packaging which attracts the target group. Apart from Energy plus, all other products of
the company are also promoted extensively with innovative marketing campaigns. Energy plus
has actively been involved in print and press media. Hence, this concludes the Energy plus
marketing mix.

Market Segmentation:

We know that there are different kinds of segmentations as like Geographic, Demographic &
Psychographic. Basically, we will segment our market according to the Geographic and
Demographic. In these segmentation criteria of Demographic segmentation, we will mainly focus
on

Urban Area for Demographic segmentation:

 Age

Sex

Income Level

Occupation

Age: One of major factor is age. We target the children bellow 10 and old aged who have diabetic,
as we will have tasty, nutritious and sugar free products

Sex: Our consumer will both male and female because these products will be demanded for both.

Income Level: Middle class family whose income level is not poor not high, as report says that
middle class families the major buyers of this products.

Occupation: Professional and fast paced environmental working people. The reason of identifying
this occupation is that people who very busy it will be beneficial for them as we will make some
easy carry system, and short time application to eat these items.

Competitive review:

Increased entry of established brands has pressured industry participants to continually add
features and cut prices. Competition from already established brands is a major factor. Key
competitors are included below:

Haque Biscuit Industries Ltd:

Haque Biscuit Industries is presently one of the biggest brands in Bangladesh and also the
leading food related brand. It is well known for its ground breaking approach towards product
manufacturing and marketing. Forbes Global has rated it as one of the Top 200 Small Companies
of the World and it is also the second most trusted brand in Bangladesh. These are the kinds of the
biscuits:

• Mr. Cookies

• Treat

• Butter Cake

• Milk Bites
 • Tiger

• Nutri Choice

• Good Day

• Time Pass

• Bourbon

• Little Hearts

• 50-50

• Nice Time

• Marie Gold

• Digestive

Bongos Biscuit:

Bongos Biscuit was established during November 1992. Its commercial operations, which
included selling and making biscuits under the brand name Grand Choice started during October
1993. These are the kinds of biscuits offered by Bongos:

• Grand Choice

• Glucose V

• Chatpatta Jeera and Cashew

• Butter Bite

• Cheez Bit

• Cheese Cracker

• CNC

• Marie Lite

• Snacks Zig Zag

• Coconut Crunch

• Kids Cream

• Classic Cream

Nabisco Biscuit Factory:

Nabisco Biscuit Factory is especially rural and urban area of Bangladesh. It has a of top-
class production units at Dhaka. Following are its main products:
 • Butter Cookies

• Dil Khush

• Funfill Choco Vanilla

• Dream Lite

• Yummy - Milk Cream

• E-Time

• Tip Top Kajoo Kurkure Masala

• Funfill Orange

• Coconutty

• Funfill Rich Chocolate

• Thin Arrowroot

• Golmol

• Marie

• Jadoo

• Veg Munch

• Marie Time

Horlicks Biscuits:

Biscuits were introduced during 2008 and since then the brand has witnessed increasing
popularity. These are liked by both children and parents. Every pack provides 100 percent calcium
and the biscuits are available in elaichi and standard flavors.

Fit Biscuit:

Fit is one of the most recent biscuit brands in Bangladesh. Its products are primarily
available in one category. The company is setting up a new plant in Gazipur, which is expected to
have a capacity of 5 Hundred tons on a monthly basis. This will be a fully automated plant and is
supposed to be one of the very best in its kind in the country. In a recent survey done by Insight, a
famous consumer magazine, as per parameters stated by the BIS, the Fit biscuit came first in the
category for biscuits.

In the chart below we are showing the comparison between best products of the up listed
companies. These can be the original competitors of our product ‘Energy Plus’:
Competitor Weight Features Price
Olympic 120 gm Single Flavor 15
Haque 130 gm Multi Flavor 18
Bongos 125 gm Single Flavor 15
Fit 145 gm Single Flavor 32
Horlics 130 gm Single Flavor 22
Nabisco 140 gm Multi Flavor 30

New Version of ‘Energy Plus Biscuits’:

The New version of our selected product have to be unique & tasty at the same
time. We also have to look after the costing as the product is widely sold in the rural
areas, schools & offices. After looking after all the pros & cons we’ve decided to
launch our new version of the old product ‘Energy Plus’, which will be a new flavor
of the product which is chocolate. It will be known as “Energy Plus Chocolate”.

Picture: Energy Plus Chocolate (New Version)

Target Market:

The new product would focus on a slightly different demographic. The new flavor would entice
and cater to young children, working class people as usual but also non diabetic consumers who
have a sweet tooth and who fancy the taste of chocolates. This is a part of selected/differentiated
marketing strategy where the company will opt to provide different offerings to a different
consumer segment. Basically, the objective of the new flavor would be to act as a affordable yet
desirable commodity that is worth its price. This can definitely make a standing in the market for
flavored biscuits as per its affordability which will make it convenient for the middle to lower
income class people as well as people in rural living in settings and also be a desirable treat for
children who previously were not interested in the regular taste blunt of the product. The majority
of the commodity consumer market in Bangladesh is comprised of low to middle income class
people and another major demand sector comes from students in schools who often look for
commodities they can have during their lunch breaks and so on. So, the general idea is to capitalize
on these particular target markets and try and make the product their primary choice for non-luxury
commodity.

Market Segmentation:

There can be four categories for the segmentation of our new product. But we are choosing
the Demographic segmentation for our valuable product. There can be various ways of the
segmentation. Such as:

• Age: We will make sure that the new product can be offered to the people of any age as it has
limited sugar, milk & wheat. That can make our product more resilient.
• Gender: Our product can be offered to any gender as it tastes really good, so both male &
female can have this product.
• Income: Our new product price will be only 15/= each pack. So, it’ll be easy to buy & have for
people of any income.
• Education: It’s really a tasty & good quality product. So, in any kind of educational institutions
students can have these biscuits.
• Family: As it’s a healthy & quality full product you can offer it to your family & also can enjoy
it with them.
• Social Status: Our packaging quality & our product taste is very good that you can have &
offer it in any kind of social status.
• Occupation: People of any occupation can have our product & inside any kind of business
organizations you can offer this to have.

This is how we will segment our market for our valuable new product “Energy Plus Chocolate”.

Target Market Strategies:

Once target segments are identified, the marketing manager selects a targeting strategy that will
be the best fit for reaching them. Targeted marketing enables the marketing and sales teams to
customize their message to the targeted group(s) of consumers in a focused manner. The targeting
strategy is where the marketing mix comes together to create the right offer and marketing
approach for each target segment. A summary of common targeting strategies is provided in the
table below.

Strategy Target Market

Mass marketing Everybody everywhere

Differentiated marketing Large groups within the total market

Niche marketing High penetration within smaller, specialized segments

Micromarketing Individual customers or localized microsegments

Mass Marketing:
Mass promoting, conjointly known as uniform promoting, involves promoting to the whole market
identical means. Mass promoting effectively ignores segmentation and instead generates one
supply and promoting combine for everybody. Mass promoting aims to succeed in the biggest
audience doable, and exposure to the merchandise is maximized. In theory, this is able to directly
correlate with a bigger variety of sales or buy-in to the merchandise. Mass promoting tries to unfold
a promoting message to anyone and everybody willing to concentrate.

Differentiated Marketing:
A totally differentiated promoting strategy is one within which the corporate decides to produce
separate offerings to every different market section that it targets. it's conjointly known as
multisegmented promoting. every section is targeted in a very specific means, because the
company provides distinctive advantages to totally different segments. The goal is to assist the
corporate increase sales and market share across every section it targets. Proctor and Gamble, for
instance, segments a number of its markets by gender, and its separate product offerings and
promoting plans for each. A differentiated strategy may be a wise approach for brand new firms
that enter a market and lure customers aloof from established players to capture share in a very
giant overall market. Often, established firms become liable to new competitors as a result of they
don’t provide ample attention to the right promoting combine for any given market section.
Niche Marketing:
Niche promoting (also known as focused marketing) may be a strategy that targets only 1 or a
number of terribly outlined and specific segments of the buyer population. The goal is to realize
high penetration among the narrowly outlined target segments. for instance, the manufacturer of
Rolex watches has chosen to target solely the luxurious section of the watch market. All of their
market research, development, promoting strategy, and ways target serving that choose a part of
the market. after they get laid well, this approach will give a differential advantage over alternative
organizations that don’t concentrate all their efforts on the “niche” segment(s). Niche targeting is
especially effective for tiny firms with restricted resources, because it doesn't need the employment
of production, mass distribution, or mass advertising.

Micromarketing:
Micromarketing may be a targeting strategy that focuses even additional narrowly than niche
promoting. It caters to the wants of people (“individual marketing”) or terribly little segments in a
very targeted earth science (“local marketing”). Micromarketing may be terribly powerful by
giving shoppers precisely what they need, after they need it. However, to realize large-scale
success with this approach, firms should decipher the way to meet extremely personalized desires
expeditiously and fruitfully. Individual promoting is typically noted as “mass customization” or
“one-to-one promoting.” With this approach, firms supply shoppers a product created to their
individual specifications. native promoting may be a targeting strategy centered expressly on a
tiny low, clearly outlined neighborhood or geographical region. Organizations mistreatment this
method tries to come up with a powerful native presence, and targets might embrace a person or
organization inside that tiny space.

These 4 target marketing strategies are we following for our new Energy Chocolate Biscuit. Using
these 4 strategies we will become more successful in this new product.

Positioning of our new product:

Launching new products and improvising some of the old ones is not that simple & easy.
Using healthy and good raw materials; modern and digitally efficient equipment and hygienic
production environment. Standardized and enticing packaging, and informative labeling.
Acquiring ISO Certification, so our products will be known for their quality and health benefits as
well as for their taste and reasonable price. For the positioning of the new version of our product
we will create an image for the product based on its intended audience & we’ll create this by the
use of the 4Ps.
Price/Pricing Strategy:

As Energy plus has followed a low-cost strategy to establish a market leader position we’ll
also apply that on the new version of our product. This is the backbone pricing strategy of the new
Energy Plus brand as a part of its marketing mix. The low price of the new product along with the
promise of high quality helps in fighting the competitors.

Place & Distribution Strategy:

Our new products will be widely available across all geographies across Bangladesh. With
a presence of very strong distribution network, our new product will be able to reach many retailers
all over Bangladesh. Apart from that, there are depot agents which further help in expanding the
distribution network.

Promotion & Advertising Strategy:

Energy plus chocolate brand uses all media like TVC, online ads etc. as a part of its
marketing mix promotion & marketing strategy. Our new product will always be associated with
positive emotions and has incorporated qualities like fun and joy. Moreover, it started promotions
on a national level scale by fulfilling the dreams of selective children and teenagers.

Apart from Energy plus chocolate, all other products of the company are also promoted extensively
with innovative marketing campaigns. Energy plus chocolate has actively been involved in print
and press media. Hence, this concludes the Energy plus marketing mix.

Product Strategy:

Prioritizing on qualitative products that are tasty and affordable, launching new products
and improvising some of the old ones. Using healthy and good raw materials; modern and digitally
efficient equipment and hygienic production environment. Standardized and enticing packaging,
and informative labeling. Acquiring ISO Certification, so our products will be known for their
quality and health benefits as well as for their taste and reasonable price.
References:
1. Olympicbd.com. 2020. About Us – Olympic Industries Limited. [online] Available at:
<http://olympicbd.com/about-
us/#:~:text=Today%2C%20we%20are%20the%20largest,moving%20consumer%20good
s%20in%20Bangladesh.> [Accessed 19 September 2020].
2. Coursehero.com. 2020. Mkt Project - OLYMPIC ENERGY PLUS BISCUIT MARKETING
PLAN 1 COURSE NAME PRINCIPLES OF MARKETING COURSE TITLE MKT 201
SECTION 02 Prepared By Mishkat Uddin | Course Hero. [online] Available at:
<https://www.coursehero.com/file/16812154/mkt-project/> [Accessed 19 September
2020].
3. Word-of-Mouth and Referral Marketing Blog. 2020. Define Your Target Market In 6
Simple Steps (With Examples) - Word-Of-Mouth And Referral Marketing Blog. [online]
Available at: <https://www.referralcandy.com/blog/how-to-define-target-market-
examples/> [Accessed 20 September 2020].
4. Courses.lumenlearning.com. 2020. Targeting Strategies And The Marketing Mix |
Principles Of Marketing [Deprecated]. [online] Available at:
<https://courses.lumenlearning.com/marketing-spring2016/chapter/reading-targeting-and-
the-marketing-
mix/?fbclid=IwAR1xeHcOsZiSUb7knKyIOcAzRCLtzPpr_wddPF4yvhkOIqT_nZfFGJN
v31Y#:~:text=Using%20the%20Marketing%20Mix%20to,best%20fit%20for%20reachin
g%20them.&text=The%20targeting%20strategy%20is%20where,approach%20for%20ea
ch%20target%20segment> [Accessed 20 September 2020].