AMERICAN INTERNATIONAL UNIVERSITY BANGLADESH

Faculty of Business Administration

Report Cover Sheet
Students must complete all details except the faculty use part.

Please submit all assignments to your subject lecturers or the office of the concerned lecturer.

Assignment Title: Report Number: Subject Code: 6111 Course Instructor:

MARKETING PLAN 2 Due Date: 26 APR 2011 Semester: SPRING 2010-2011 Subject Name: MARKETING MANAGEMENT Section: E MD.ZIAUL HAQ Degree Program: MBA

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1. I/we hold a copy of this assignment, which can be produced if the original is lost/ damaged. 2. This assignment is my/our original work and no part of it has been copied from any other students work or from any other source except where due acknowledgement is made. 3. No part of this assignment has been written for me/us by any other person except where such collaboration has been authorized by the lecturer/teacher concerned and is clearly acknowledged in the assignment. 4. I/we have not previously submitted or currently submitting this work for any other course/unit. 5. This work may be reproduced, communicated, compared and archived for the purpose of detecting plagiarism. 6. I/we give permission for a copy of my/our marked work to be retained by the School for review and comparison, including review by external examiners.

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7. Plagiarism is the presentation of the work, idea or creation of another person as though it is your own. It is a form of cheating and is a very serious academic offence that may lead to expulsion from the University. Plagiarized material can be drawn from, and presented in, written, graphic and visual form, including electronic data, and oral presentations. Plagiarism occurs when the origin of the material used is not appropriately cited. 8. Enabling plagiarism is the act of assisting or allowing another person to plagiarize or to copy your work

Group Name (if applicable):

No. Student Name

SUNSHINE
Student Number Student Signature Date

1. 2. 3.

KM NASIF ADNAN MEHNAZ AHMED MEHZABIN MD. FAHIM FAISAL

10-94181-3 10-94175-3 10-94199-3

For faculty use only:

Total Marks: _____________ Marks Obtained :_______________

Faculty comments__________________________________________________________________________________________ __________________________________________________________________________________________________________

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The shinning glory of fashion

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Table of Content

Contents: Executive Summary.......................... OBJECTIVES

Page No. 6 7 Current situation Analysis...... 8 Target Market..... 11 Market Analysis... 12 Current Situation 13 Marketing mix strategy.. 14 Evaluation . 12

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Letter Of Transmittal Group No. SUN SHINE Section: E American International University of Bangladesh Tel : o2-xxxxxxx 26 April 2011 Md.Ziaul Haq Course Instructor Marketing Management American International University of Bangladesh Dear Sir, We have the pleasure to submit our marketing plan titled UNIQUE FASHION COLLECTION. This was a good opportunity for us to understand and deal with the problem. The report made on basis fashion market in Bangladesh which is growing up

with due importance now-a-days. Its central focus is on marketing planning of the said organization. It is more important for Bangladesh where garments products markets earning a huge number of profit for the country. Modern marketing planning concept is practiced here with different aspects of Bangladesh culture in home and abroad. This fashion is concerned here with ladies, gents and kids wear. This is all about our new fashion house.
Yours sincerely,

KM Nasif Adnan ID : 10-94181-3

Mehnaz Ahmed Mehzabi ID : 10-94175-3

Md. Fahim Faisal ID : 10-94199-3

Acknowledgement

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At first, we take the opportunity to thank The Almighty. Then we express our thanks to our department and authorities for granting us such opportunity in this level. We are very pleased to accomplish the assigned task given by our revered course instructor MD.ZIAUL HAQ . While completing this report we faced different problems such as shortage of time, information regarding particular organization and marketing activities. But we have been able to overcome the problems with direct and indirect assistance from our course instructor. We are really thankful to him. If there is any questions and/or comments regarding the interpretation of this report please feel free to contact us at the addresses or phone number above. Thank you for your funding of this report. Finally, we are pleased to complete the report on the given subject properly and authentically.

1. Executive Summary

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UNIQUE FASHION COLLECTION, a well reputed name in the fashion industry, started our journey only before one year. Now after the devotion, sincerity, and hard work of its group of people it has created a look and image of true colors of life for the new generation. Now we have designers from India and Bangladesh. Most of the fashion lovers of Bangladesh and who lives abroad now accepted UNIQUE FASHION COLLECTION as a new fashion glory for Bangladesh. After a successful opening of Ladies, gents and Kids wear UNIQUE FASHION COLLECTION is now concerning about opening new branches and we want to move forward by innovation of new ideas and customer satisfaction.

2. Current Situation - Internal 2.1. Company resources

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Financial: Most of the capital is from Mr. AR Rahman. But gradually improvements of UNIQUE FASHION COLLECTION products and profits earned from different products and services have given UNIQUE FASHION COLLECTION a strong financial background within only one year.

People: The employees are from Bangladesh as well as from Indian. The designers are experienced and loyal towards our organization.

Time: The Fashion house remains open from 10am to 8pm (1000hrs to 2000hrs)

Skills: The designers are experienced and got training from reputed designing training institutions in home and abroad especially from India; we also have got training from the existing employees of the fashion house.

2.2. Objectives

Mission statement and vision statement: UNIQUE FASHION COLLECTIONs mission is to increase the distribution network by opening more branches and create customer satisfaction by providing them quality goods and services.

Corporate objectives: The Corporations objective is to make a strong brand image and reputation in the fashion industry.

Financial objective: Now the company is charging reasonable price for our product. We have a good number of product line. UNIQUE FASHION COLLECTION wants to make profit through selling quality goods to the customers with a reasonable price.

Marketing objectives: Increasing distribution network. Increase public awareness through different types of advertising.

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Long term objectives: To make a brand image and strong position in the fashion industry of Bangladesh.

2.3. Corporate culture: UNIQUE FASHION COLLECTION follows our own corporate culture. Each and every employee has a direct relationship with our direct supervisor or the department head. We also have a free environment to innovation. All new good ideas are accepted by the supervisors and followed by care. The sales executives have common get ups and in generating ideas we avoid go and run error.

3.

SITUATION ANALYSIS

3. Summary of Situation Analysis 3.1. External threats: Law & order situation may not under control in the country. Increasing number of boutiques, Increasing consumer price sensitivity Price hiking of different products SPRING 2010-11 8

 Decreasing consumer buying power. Lacking in support of capital. 3.2. External opportunities: Supportive hands from backward linkage and forward linkage of this industry. Huge sub-contracts are available from the existing export oriented RMG factories. Low number of quality products in the market 3.3. Internal strengths Experienced and creative designers and skilled embroidery operators. Management with in-depth knowledge of this industry. Highly efficient work force. Customer relationship building Priority on product quality Online business. 3.4. Internal weaknesses The supporting hands with capital necessary to enlarge its country-wide selling network, The difficulty of developing brand awareness, Lacking of advertising, Small group of target customers, High price products, Less distribution channel.

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Porter 5 forces analysis: By considering porters five forces model we can conclude the following information: 3.5.1. Threat of new rivalry: Each and everyday new fashion houses and small boutique shops are opening in Bangladesh. So the price sensitive customers will certainly move towards the products with less price and high quality. So fashion houses like UNIQUE FASHION COLLECTION is under threat from those fashion houses. Because entry barrier is low in fashion industry so it is challenging for a fashion house to survive in the fashion industry. 3.5.2. Threat of Substitutes: Many substitutes are available in market for fashion hunter customers. 3.5.3. Threat of intense competitors: When UNIQUE FASHION COLLECTION started our operation in Bangladesh, the fashion houses were in the growing position. But now at this time there are many popular fashion houses in Bangladesh. 3.5.4. Customers growing bargaining power: Customers are now-a-days very price sensitive and our switching cost is also very low. So UNIQUE FASHION COLLECTION has to maintain our customer relationship heavily. 3.5.5. Suppliers growing bargaining power: UNIQUE FASHION COLLECTION now gets supplies from Indian exporters. We also get a huge supply from our production house. Our good relationship with our Indian suppliers can save our threat from supplier side. 3.6. Competition and market share: In the fashion house industry of Bangladesh, ARONG is certainly the market leader. UNIQUE FASHION COLLECTION is not even the market challenger. We can be in the list of market follower. A large distribution network of ARONG and variety of SPRING 2010-11 10

product line and a strong brand image has made ARONG the leader of the fashion industry. It is too hard to determine the market share of UNIQUE FASHION COLLECTION because it has only one outlet and with variety of product line. We also dont have a large distribution network. 3.7. Competitors' strengths and weaknesses: Strengths: Large Distribution channel Large variety of product Lower Price Strong brand image Popularity among different income level people Weaknesses: Customer relationship building Different groups of customers Online marketing.

3.8. Market trends: The fashion market is changing too fast. New products are regularly introducing in the market. Customers are becoming much more price sensitive because a large substitute is available. The consumers are becoming aware of new products and fashions through the help of satellite and internet. Meeting our regular demand is much more complicated.

4. TARGET MARKET Consumer Analysis 4.1. Nature of the buying decision: As we all know the consumers of the developing countries are much more conscious about product availability rather that the products feature. Bangladesh is a developing country, so the customer buying decision is much affected by the products availability and price. The consumers prefer different styled products and unique products. Because now in Bangladesh the price of everything is going upward so the fashion lovers are in trouble. Though we have expectation of more shopping but the lower income is being an obstacle for them. 4.2. Participants: Mainly Elite class and middle income level people are the customers of UNIQUE FASHION COLLECTION. A little bit lowering of price may be helpful for the customers with lower income. Because we always look for good quality with a reasonable price. 4.3. Demographics: The customers of UNIQUE FASHION COLLECTION are mainly young generations of Elite class and middle class. We all are well aware of fashion with unique choice of products. We love fashion with a different choice and low availability for others. Most products of UNIQUE FASHION COLLECTION are somewhat with a reasonable price, so customers with income level of 30,000-more are interested customers of UNIQUE FASHION COLLECTION fashion and crafts.

4.4. Psychographics: The customers are from good society, so we have a high taste of fashion.

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4.5. Buyer motivation and expectations: Unique design of UNIQUE FASHION COLLECTION fashion and excellent customer service is highly motivating for the customers. The location of the shop is convenient for the Elite class customers. The customer expects quality products from UNIQUE FASHION COLLECTION. Our service demand is also high. Because UNIQUE FASHION COLLECTION is giving tailoring service so the customers can make customized products according to our taste. 4.6. Loyalty segments: Most of the customers of UNIQUE FASHION COLLECTION are loyal customers. We buy frequently from UNIQUE FASHION COLLECTION with a very low alternative choice. We rarely alternate our buying decision. 5. Market Analysis 5.1. Market definition: By analyzing the current market we can found that there are many fashion houses in Bangladesh. Some are ARONG, ARTISTI, WESTECS, and CATS EYE, DESHI DOS among them some are close and some are distant competitors for UNIQUE FASHION COLLECTION. The fashion house is a booming industry in Bangladesh, because the new generations are much more conscious about fashion. The satellite system has brought many changes in Bangladeshi fashion industries. 5.2. Market size: The market size for UNIQUE FASHION COLLECTION is small. Our closest competitors like ARONG are the market leader and we have gained a large market segment through our perfect marketing plan and our large distribution network. UNIQUE FASHION COLLECTION can make our market size big by targeting a new group of customers or new market segment. Although we are thinking about opening three or four more branches but we have make more branches to reach to large market size. 5.3. Market segmentation: UNIQUE FASHION COLLECTION has made our market segmentation by products of clothing industry. We have segmented our market by age and customer status like our income and social status. We have different products like SHAREES and PANJABIS for age group of 20-45 and for the Elite class and higher middle class people. 5.4. Industry structure and strategic groupings: UNIQUE FASHION COLLECTION is not a big organization. Our position hierarchy is simple with a tree like network. We have CEO, MD and some departments heads. We have separately marketing department, Accounting and Finance department. All the necessary and main decision of UNIQUE FASHION COLLECTION is taken by the CEO of UNIQUE FASHION COLLECTION.

6. CURRENT SITUATION 6.1. Economy: Our countrys economy is going so fast, and consumers buying power as well as price sensitivity is changing. The fashion designing sector is obviously growing nowadays in Bangladesh, SPRING 2010-11 12

which is evident from the opening of the new Boutiques every now and then So UNIQUE FASHION COLLECTION has made some price adjustments and we have made some quality improvements adjusted with our customers satisfaction. 6.2. Legal: UNIQUE FASHION COLLECTION has legal certificate and proper trade license for our fashion house. 6.3. Technology: UNIQUE FASHION COLLECTION has latest machines for boutique and tailoring services. We also have qualified operators to operate those machines properly. 6.4. Socio cultural: UNIQUE FASHION COLLECTION has made products for different occasions, like EID, PUJA, BANGLA NOBOBORSHO etc. We have kept in mind that Bangladeshi customers tend to buy more products during our different occasions. 6.5. Supply chain: UNIQUE FASHION COLLECTION collects our products mainly from Indian exporters. We also have production house to make different types of products. Opportunity for them is to collect products from local areas of Bangladesh as our competitor ARONG do. Products: Sharees: Bridal, Fashionable & Traditional Shalwer suits: All types Children dress: All types Imitation Jewelry Shoes and Shandles Fabrics: Suiting & Shirting Readymade: Shirt, Pant, Suit, Panjabi, Sherwani etc.

6. e. Service: Tailoring: Suiting, Shirting, Price Suit, Sharwani , Pants, Safari suit & all types of ladies tailoring. 6. f. Product Source: Import from India and Made in Production house of UNIQUE FASHION COLLECTION fashion and Crafts. 6. g. Available colors: Blue, Green, Maroon, Yellow, Black etc. 6. h. Customers Description: The customers are mainly Elite class and Higher Middle Class.

7. Marketing Mix Strategy

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7.1. Product 7.1.a. Product mix:

Sharees: Bridal, Fashionable & Traditional Shalwer suits: All types Children dress: All types Imitation Jewelry Shoes and Shandles Fabrics: Suiting & Shirting Readymade: Shirt, Pant, Suit, Panjabi, Sherwani etc.

7.1.b. Service: Tailoring: Suiting, Shirting, Price Suit, Sharwani , Pants, Safari suit & all types of ladies tailoring. 7.1.c. Available colors: Blue, Green, Maroon, Yellow, Black etc. 7.1.d. Perceptual mapping: In the perceptual map the following steps should be included sequent: 1st Circle: Different Things to use the products: Clothes, Bags, Hangers, Detergents, And Wardrobes. 2nd Circle: Direct Competitors: ARONG, NABEELA, and SHOPPERS WORLD etc. 3rd Circle: Indirect Competitors: NIKE, ADIDAS, and ARMANI etc. 7.1.e. Product life cycle management and new product development: The products are mainly in the growth stage. We are thinking of opening 3 or 4 new branches but we are not thinking of any new product development. We are continuously developing our existing products according to our customer need. SPRING 2010-11 14

7.1.f. Brand name, brand image, and brand equity: UNIQUE FASHION COLLECTION already has a well reputation as a quality and fashionable goods provider in the market. We have our own brand name and a semi-strong brand image in the customer mind. We have gained customer mind share but gaining customer heart share is a matter of time. NOTE: Because UNIQUE FASHION COLLECTION is a new fashion house, so for a SBU it is tough to have all the sales data and finding out the market share. So it is tough to evaluate BCG or GE approach for our single product. 7.2. Price 7.2.a. Pricing objectives: UNIQUE FASHION COLLECTION is charging high and reasonable price for our products. 7.2.b. Pricing method: UNIQUE FASHION COLLECTION is using cost plus method. 7.2.c. Pricing strategy: UNIQUE FASHION COLLECTION is using price skimming strategy. 7.2.d. Discounts and allowances: Different discounts are available for purchasing of large quantity goods. We also give discounts at various occasions. 7.2.e. Price elasticity and customer sensitivity: UNIQUE FASHION COLLECTION dont change our price at a frequent basis. The customers are price sensitive so UNIQUE FASHION COLLECTION has to maintain a price adjustment. 7.3. Promotion 7.3.1. Promotional goals: To generate public awareness through providing customer satisfaction through different types of quality goods. advertising and

7.3.2. Promotional mix: does not use wide promotional activities. UNIQUE FASHION COLLECTION uses following ways our advertising purpose; Media Newspaper Campaign Internet public relation for

7.3.3. Advertising reach, frequency, flights, theme, and media: Our target group is the Elite class so we are successful for making them aware of our product and services. There is some lacking in our marketing mix strategy. Local customers are quite unaware of our products and services. Popular media star Joya Ahshan, Monalisa, and Nirob are our products model. Joya Ahsan is our brand ambassador.

7.3.4. Sales force requirements, techniques, and management: UNIQUE FASHION COLLECTION only use sales from our fashion house. Our customers get our products only from the SPRING 2010-11 15

outlets. One suggestion may to participate in the trade fairs and some direct selling to make more customers. Our sales forces are controlled by directly by CEO. We have good and experienced sales people. 7.3.5. Sales promotion: UNIQUE FASHION COLLECTION dont have huge sales promotion yet. We only believe in selling from our outlets and by creating customer loyalty our product is now a popular product. 7.3.6. Publicity and public relations: UNIQUE FASHION COLLECTION has built a good public relation by our superior customer service. Publicity in some newspapers and magazines is also available. 7.3.7. Electronic promotion: UNIQUE FASHION COLLECTION dont have electronic media. We have our website through which we able to make huge customer awareness. We also can use selling through the internet. 7.3.8. Word of mouth marketing (buzz): Our customers are too loyal to our product. Our product quality has made our products popular among our customers and those customers frequently talks about UNIQUE FASHION COLLECTION product. 7.4.1 PLACE

Place describe the channel UNIQUE FASHION COLLECTION use for selling our product. We have our fashion house in Banani, where we sell our products. As we are not B2B organization thats the reason why we sell our products to customer only from our fashion house available in Banani. University and college students get attract by its outer and interior design. We often buy our products from here.

7.5.1 PEOPLE The employees are from Bangladesh as well as from Indian. The designers are experienced and loyal towards our organization.

7.6.1 PHYSICAL EVEDENCE Where is the service being delivered? Physical Evidence is the element of the service mix which allows the consumer again to make judgments on the organization. Physical evidence is an essential ingredient of the service mix, consumers will make perceptions based on our sight of the service provision which will have an impact on the organizations perceptual plan of the service. About our fashion house people feel good by seeing our interior decoration, inside environment and location. SPRING 2010-11 16

7.7.1 PROCESS 7.7.1. Geographical coverage: UNIQUE FASHION COLLECTION has a weak side in our distribution. We have only one outlet for our products. We are thinking of opening 3 or 4 more new branches. We should build a strong distribution network for our products and make them publicly available. 7.7.2. Distribution channels: We have only outlet selling system for our distribution channel. We also some time use in home delivery. 7.7.3. Electronic distribution: We have not introduced the electronic distribution system yet. But it is a great opportunity for them to make some electronic distribution channel like internet. 7.8.4. Selling theory: Theories of our Selling: o AIDAS (Attention-Interest-Desire-Action-Satisfaction) Theory o Right Set of Circumstances Theory o Buying Formula Theory o Need (or problem) Solution Adequacy Need or Problem Product or Service Trade Name Purchase Satisfaction Pleasant Feelings o Behavioral Equation Theory Purchase

And/or

8.

EVALUATION

8.1 Personnel requirements: UNIQUE FASHION COLLECTION can have some more employees for our sales promotion, collecting customer feedback, marketing and accounting departments. Though we have qualified employees in our organization but still we can have some more qualified employees because our organization size is increasing significantly. After some year when UNIQUE FASHION COLLECTION will be a large organization we can have our own Human Resource department. We can employ more qualified operators and make our production faster.

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8.2. Assign responsibilities: UNIQUE FASHION COLLECTION can have a separated marketing depart3ment through which we will be able to control our advertising efforts and proper maintenance. We can have more people for large distribution channel. 8.3. Give incentives: Though UNIQUE FASHION COLLECTION have trend to give incentives to our employee, but we also can give our employees more incentives to motivate them. 8.4. Training on selling methods: The employees of UNIQUE FASHION COLLECTION are trained from different fashion schools. UNIQUE FASHION COLLECTION also have some training systems for the new employees. UNIQUE FASHION COLLECTION can arrange training for our sales representatives by more seminars and by qualified existing sales representatives. 8.5. Financial requirements: More profit is a plus point for UNIQUE FASHION COLLECTION, but still we are in a great need of large capital. By more capital we will be able to achieve more qualified employees and more branches. 8.6. Management information systems requirements: UNIQUE FASHION COLLECTION is not so big organization that we will have to have a management information system. But still for future we can think about the MIS. 8.7. Monitoring results and benchmarks: UNIQUE FASHION COLLECTION can have some employees to monitor the activities of our workers. We also can closely monitor the business activities of our competitors. We can make milestone and work hard to achieve the milestone. Though it is too tough to compete with ARONG, but still UNIQUE FASHION COLLECTION can adjust our system with the system of ARONG. 8.8. Adjustment mechanism: The adjustment mechanisms can be large distribution to reach the local people. We also can have different new product lines for the Old people and other types of services like wholesaling to the local retaliators. We also can assign people in direct selling; we can have our own website to make worldwide customers. We can introduce internet selling as a new mechanism.

THE END

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