Launching a New Chocolate in the market

Course Code: MKT 101 Course Name: Principles of Marketing

Section: 5

An Assignment on-----Launching a New Product in the Market

Course Instructor:
Md. Nazmul Hossain Lecturer, Department of Business Administration East West University.

Prepared By
1. 2. 3. 4. 5.

Syed Mohammad Tauseef Chowdhury Umme Habiba Dipty Tabassum Fahima Zaman Israt Jahan Khadizatul Kobra

2007-2-10-012 2007-2-10-094 2007-2-10-061 2007-2-10-156 2007-3-10-004

Launching a New Chocolate in the market

Table of Contents
Acknowledgement.................................................................................3 Company Overview.................4 The Motto ...............................5 Our Takeout. 5 Launching a new product 5 Market scenariowhy chocolate? Why not other products??..6 Brand Synopsis......................7 Segmenting the market.9 Target Marketing10 Brand Positioning.11 Positional Activities.13 Prospecting marketing strategy15 Conclusion.15 Sources......16

Launching a New Chocolate in the market

Acknowledgment

At first, we are paying our gratitude to Almighty Allah because without him, we wouldnt be able to prepare this assignment. We would like to express our respect and heartiest gratitude to our course instructor of MKT- 101 Md. Nazmul Hossain, Lecturer, Department Of Bachelor of Business Administration, East West University. Without him, preparing this report would be simply impossible for us. We also like to thank our seniors and classmates to giving advices and reliable information. We are paying our hearties appreciation to all of these people for their great co-operation, which will be always remembered by us.

Launching a New Chocolate in the market

Company Overview
Name of our company is CANDY WORLD. Lets get back to our basic philosophythe lost world of Chocolatesan idea with relevance, originality and impact from a creative mind. Machines would merely serve men; men would lead machines to execute concepts and thoughts from brain to paper. And everything from a Chocolate company would be a unique execution, a canvas full of human touch with a mixture of arts and science, sugar and choco, butter and flour, men and machine. This is what we call Candy World. We produce chocolates for those people who want to make their every moment FUNtastic. We want to enhance mood of chocolate lovers in everyday life with an uncompromised quality and mouth watering taste. We want to build the habit of chocolate chewing/eating culture thru our brands. Judgments by A B C D E

Attention: Impact, enjoyment, involving

Branding: intrinsically branded at the core

Communication: understandable, robust insight

Delivery: delivers the message through the most appropriate touch-points

Effectiveness: the combined ability of the creative to meet objectives & create talkability

Launching a New Chocolate in the market

The Motto
Our motto is We

sell food products, but we social bonding and

It

package

our

responsibility with every product we sell.

means we not only sell our products but also we care for our customers.

Our Takeout

Most Important

Taste Quality Smell Economy

Laun ching a new product

Launching a New Chocolate in the market

There is no good quality local chocolate in the market therefore confidence level is very lowanything better would lead the Market. So we are going to introduce a range of good quality chocolates in the market and we have selected the name for our product is Carnival.

Market Scenario---Why Chocolate? Why not other products??

As Chocolate market has exploded in recent years, Local brands have faced stiff competition. The category has been fighting to maintain its ground. Anybody and everybody are coming up with a new brand (An approx. BDT 144 crore Market). However, one growing segment within the category is Chocolate. With few good brands this segment is a clear business opportunity for the right product. Frequent visitors to the chocolate category love its variety. They tend to switch within an inventory of flavors rather than stick to just one, the primary benefit being taste and health. The top reason for visiting the segment is that it offers "a little bit of fun on the other hand it is convenient.

Figure: Release vs. Escape.

Launching a New Chocolate in the market

Today's teens and twins desire a release from everyday pressures. As diverse as they are, teens today share the same everyday pressures, ranging from increased competition in schools to fitting in with their peers, from paying cell phone bills to world peace. From those everyday pressures is born the desire for a momentary release. Importantly, this release is about spontaneous fun with friends rooted in the everyday... not an adult-type escape that involves a complete get-a-way.

Brand Synopsis
Carnival means any period of celebrations, uncontrolled merriment, and a fair like entertainment. The word Carnival we have chosen because our chocolates are not only just chocolates, its like a package of enjoyment, merriment, relaxation and a way of release from hazardous life. Once you have it you will feel its power. There are other reasons also--- it is easy to pronounce

or easy to remember, this brand name is distinctive, this name can be easily translated into foreign languages.

LOGO

A simple logo with stylish font that can be remembered by everybody.

PRODUCT TYPE
NAME: CARNIVAL CATEGORY: CHOCOLATE RANGE: Lolly Pop

Launching a New Chocolate in the market

Bubble Gum Milk Butter scotch Chloromint

Brand Vision: To be the no. 1 chocolate in Bangladesh. Brand Mission: To create a chocolate consumption habit in Bangladeshi lifestyle and
thereby become a market leader - Carnival is the CADBURY of Bangladesh.

Brand Promises:
Enhance mood in everyday life Affordable Uncompromised quality Smart look and feel Mouth watering taste

Brand Values:
Quality Originality Economy

Brand Truths:

Fun Taste Attitude

Launching a New Chocolate in the market

Vibrant Entertainment International Standard

Se gmenting the Market

We have made some segment to justify ourselves and find out the most attractive segment for the chocolate market. To promote our product we have analyzed the market and divided the market into some segments based on geographic, demographic, psychographic, and behavioral variables. At first we have divided our market in to some geographical area; those are Dhaka, Chittagong, Khulna, Comilla and Sylhet. Because these areas are the most chocolate consumptions areas of Bangladesh.

G raphic S m eog eg enta tion

35 30 25 20 15 10 5 0 C hlorom int Butter S cotch
Source: www.wikipedia.com, 2008

D haka C hittag ong C illa om S ylhet K hulna Milk Bubble g um L olly pop

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In our demographic segment people lived in those region includes child, teenager, and middle aged and old people. We have justified our segmentation based on age because we are going to offer different types of delicious chocolates for each of them. So based on age we can differentiate segments. We have made three segments- below 8, between 8 to 20 years and more than 20 years. This table presents some information:

Demographic Segmentation-Age
50 40 30 20 10 0 Below8yrs 8-2 yrs 0 20 yrs + Dhaka C hittag ong C illa om S ylhet Khulna

Source: Census of population & sample variance, 2008

Psychographically, people who are great believer of improved lifestyle, young at heart, sophisticated, traditionalist and aspirant also people, who are conservative and exploring at a same time and who want to indulge in lifestyle.

Target Marketing
1. Evaluating market segments:
To evaluate different market segment we have used our experts and they have identified segment size, segment growth, segment structural attractiveness and our objective and resource. By doing surveys we have learned that the size of market that we are going to

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serve is large and profitable enough to serve. We have also learned about our strong competitors who have a good brand image among customers such as Pran, Alpenliebe, Cocola, Nabisco etc. Finally we consider about our resources. Though we have strong competitors we our market segment is large enough, we are able to satisfy our customers demand than our competitors by offering good quality, mouth watering taste, delicious chocolates.

2. Selecting target market:

Target marketing can be carried at several different levels. There are four ways of selecting target market--1. 2. 3. 4.

Undifferentiated Differentiated Concentrated Niche/Micromarketing

For our particular product we will follow differentiated marketing. Because in differentiated marketing we decide to target several market segments and design separate offers for each. As we are launching Carnival chocolate in different flavors for different groups of consumers, so, we will follow differentiated marketing approach.

Brand Positioning
Position the Chocolate as strong, natural and economical in the mind of consumers. We are positioning our product in our customer black box through offering innovative features and introducing different flavors in our product line which differentiate our product, enrich our products and give consumers a wide range of alternatives to our customers and also

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give us competitive advantage over our present strong competitors such as Alpenliebe, Pran, and Cocola etc. Our Chocolates will give moments of joy and merriment to the kids, relaxation and tension free some moments to our teenager, homemaker, employee, businessmen consumers who are highly conscious about their status and life style. Our positioning statement is

We are new; we are trying to be the best

this statement will create a positive image in our target customers mind because here by this statement we clarify our position and try to tell them about our potentiality of our chocolates. We know it is unwise to come new and try to claim ourselves in the top position of the market. Our positioning statement also give some advantage over our competitor such as speak the truth about our position which is quite tough and it helps to think our potential customer positive about our products. We believe a good positioning statement means

An

adventurous voyage to go extreme

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By these positioning, our chocolates will stands out in a crowd from the Chocolate Market.

Pro motional Activities

To promote our product to our target customers, we have taken some promotional activities which will help us to sell our product rapidly.

Newspaper: Insertions Magazine: Insertions TV: - With suitable opinion leaders, make a T.V. media advertisement. - Sponsorship - Insertions

Radio: - Sponsorships - Insertions

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Internet: We will give our advertisements in different sites

Billboards: - Modification of existing sites - New Temporary sites - New permanent sites (with electronic billboards) - Shop-board

News sponsor: Headline of the news Mid break of the news Financial part of the news Before news

Scroll Sponsor: Scroll of the news

Promotion 2

Poster Display board Shelf-talker Banner

Bunting/ Dangler Hot spot Sticker Direct Mailer

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Roman Banner Stationery Special Gift Event Outlet Dcor

Leaflet/ Detailing Card Folder Special events & Televised Content AVs and Corporate films Activation

Prospective marketing strategy

For further future business we have consider some strategy which will help us makes strong competitor against other competitors. The strategies are given bellow: Spread out our business whole domestic market as well as the international markets.

Flexibility in shape of my chocolates, design and style of the packaging according to changing generation We will introduce reasonable and affordable price for our products. We will try to establish many chocolate manufacture plants in different regions of country to provide reasonable priced chocolates with the support of local government.

For reducing post purchase dissonance, we will also try to make available customer center.

We also have a plan to provide branded mini-bus, long route bus & many more for public transportation.

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Conclusion
In the Chocolate market of Bangladesh is a very fast growing market with free market economy though its a 3rd world developing country in the eyes of the developed country. For Bangladesh as well as in Asia Chocolate market is one of the most important commercial fields currently being supported by the local Government.

This market is regarded as a major commercial sector to boost Bangladesh chocolate market supremacy into the present century. The highlight of the day included the harmony that effective targeted marketing would separate the successful chocolate market from the losers. Our business will help our countrys local economy, as for example, government will get a lot tax from importing chocolates & also we will play a at best role for solving unemployment problem of our country. More over the most respectable thing is our customers will be very familiar with having international standard chocolates and best quality chocolates which ever may be a dream of their life or may be an imagination.

Sources

Principles of Marketing-11th Edition by Philip Kotler and Gary Armstrong

www.wikipedia.org www.google.com

www.chocolocate.com

Census of population & sample variance www.thechocolateportal.com

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www.squidoo.com www.in-visions.net/chocolate_sites.htm www.thechocolatesites.com