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    Acknowledgement

    Uploaded by

    Mohammad Shuaib
    The document provides an acknowledgement and thanks to those who contributed to completing the report on time, including thanks to God and their course faculty. It then outlines the marketing objectives of the report, which are to enter the market, promote the brand through different channels, and establish a brand name in customers' minds. The mission and vision statements focus on satisfying customer needs through an ethical and quality product to build trust in the brand. The marketing process section discusses market segmentation, the target market of infants under 6 months, and a focus on the reseller market segment.

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    Acknowledgement

    Uploaded by

    Mohammad Shuaib
    2K views8 pages
    The document provides an acknowledgement and thanks to those who contributed to completing the report on time, including thanks to God and their course faculty. It then outlines the marketing objectives of the report, which are to enter the market, promote the brand through different channels, and establish a brand name in customers' minds. The mission and vision statements focus on satisfying customer needs through an ethical and quality product to build trust in the brand. The marketing process section discusses market segmentation, the target market of infants under 6 months, and a focus on the reseller market segment.

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    Acknowledgement

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    The document provides an acknowledgement and thanks to those who contributed to completing the report on time, including thanks to God and their course faculty. It then outlines the marketing objectives of the report, which are to enter the market, promote the brand through different channels, and establish a brand name in customers' minds. The mission and vision statements focus on satisfying customer needs through an ethical and quality product to build trust in the brand. The marketing process section discusses market segmentation, the target market of infants under 6 months, and a focus on the reseller market segment.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    2K views8 pages

    Acknowledgement

    Uploaded by

    Mohammad Shuaib
    The document provides an acknowledgement and thanks to those who contributed to completing the report on time, including thanks to God and their course faculty. It then outlines the marketing objectives of the report, which are to enter the market, promote the brand through different channels, and establish a brand name in customers' minds. The mission and vision statements focus on satisfying customer needs through an ethical and quality product to build trust in the brand. The marketing process section discusses market segmentation, the target market of infants under 6 months, and a focus on the reseller market segment.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    The document discusses the marketing plan for a new infant formula product including objectives, strategies for the marketing mix elements and some ethical considerations.

    The main marketing objectives discussed are to enter the market, promote the brand, push the product through different channels and establish a brand name in customers' mindsets.

    For product, strategies around quality assurance, unique benefits and after-sales support are discussed. For pricing, a penetration strategy is proposed. For promotion, direct selling through doctors is proposed.

    Acknowledgement

    One of the most pleasant parts of submitting a report is the opportunity to thank those who have contributed to it. Unfortunately, the list of expression of thanks no matter how extensive is always incomplete and inadequate. These acknowledgements are no exception. Our first thanks goes to the almighty Allah for giving the patience and courage to finish this task within its submission deadline. We sincerely acknowledge our debt to Barrister Ishtiaque Ahmed, our honorable course faculty, for his valuable counseling towards the improvement of the project report on infant milk formula applying ethical codes and regulations in Bangladesh. Without his encouragement, this would have been impossible for us to complete it in due date.

    Executive summery

    Introduction

    Marketing Objectives
    Marketing report is the central instrument for directing and coordination of the marketing effort. Real situation oriented customer satisfaction comes at the first. As all the requirements for health care are not fulfilled by the existing available brands, inadequate information and health consciousness; this report intends to provide new product to the customers. To be specific the objectives of the plan includes considering the financial objective few marketing objective. Hence,

    1. The first main objective is to enter into the market and promote our brand. 2. The second objective will be to push our product to the customer through different marketing channels. 3. The third objective will be to establish a brand name in the mindset of a customer and if we can ensure it then we will have a very handsome growth in the existing market.

    Mission
    It will describe the organizations basic functions in society, in terms of the products and services; it produces for its customers1. The essential purpose that differentiates the company from others. 2. Specifies the organization overall goals and operational scope. 3. Provide general guidelines for future management actions.

    *Mission statement of company S Our mission is to set an example into the customers mind that the product that we will launch which will be maintaining all the ethical process from the rivals and to satisfy the needs of nutrition of babies through attractive and quality product and keeping trust on our brand.

    Vision
    A companys corporate vision is a projected picture of what an organization wants to become. It is usually expressed through a vision statement. To succeed in the long term, business needs employees and also it helps to set direction of corporate marketing strategy.

    *Vision statement of company SOur vision is to be the top leading company in Bangladesh providing nutritious baby food which is great in quality and maintains ethical dilemma.

    Marketing process
    Marketing process is the process of finding the right customer through market segmentation, preparing target market profile and product positioning. To find out the target market, at first we segmented the whole market as their characteristic. Our main endeavor is to reach the segment that will most likely buy our product. At first, we simply decided at which market we are going to enter. Basically, there are three kinds of market1. Consumer market 2. Industrial market 3. Reseller market But among these we have decided to enter reseller market. Because we think this market would be profitable as well as it will accept our product quickly. Target market: The reason we're concentrating on identifying a target market is because it makes strategies for designing, pricing, distributing, promoting, positioning, and improving our product, service, or idea easier, more effective, and more cost-effective. A target market is basically a set of buyers sharing common needs or characteristics that a company decides to serve. After evaluating different segments we decide to enter in single segment that is infant formula.

    Target market profile is basically customers buying behavior and it answers why a customer buys our product. Before answering those questions we want to mention who are the main or targeted customers of our product. Our product is normally used for babies who are not more than six months in age, and this is not a product to promote in TV, radio, newspaper, magazines or any billboards. What we can do is that we can talk to doctors about the product and tell them to recommend it and put our product into the shelves of other infant formula product and create a mindset to the customers. Market segmentation: The purpose of segmenting a market is to allow marketing program to focus on the subset of prospects that are most likely to purchase our offering. If it is done properly, this will help to insure the highest return for our offering to individual customers. Segmentation can be done on the basis of geographic, demographic, psychographic and behaviorist characteristic. So, in segmenting consumer market we tried to keep in mind that segmentation will be determined by a match between the benefits offered by our offering and the need of the prospect.

    4ps:

    Product
    Product strategies reflect the mission of the business unit and the business it is operating. We are going to position our product by using marketing mix variables and by providing different features with the product. The difference will be clearly defined for our product with the other brand through the values that it is providing. On the other hand, to match with the product market we will respond quickly according to our customers wants and demands. For better positioning of our product, we have created our own brand strategies. This brand strategy will include all the features like we will provide a brushier and an informative catalogue which will help our customers to know more in descriptive way that how to utilize the mixture and how it should be handled.

    The mixture will assure the quality which is our first concern and in future when we will cross our maturity stage we will sell our processing technique or the blueprint of our product so that it will be easier for our customer to manipulate the market according to their perspective. Our product will be to provide the customer only if they want to get the infant formula. As we know that for a newly born baby until six months breast milking is the best food for them. We are proving substitute food for the babies which will help those mother who remain busy with their corporate work, those kids who lost their mother at the birth and to those women who are incapable of producing breast milk. Does our product offer low cost and high quality-our offer is beneficial to consumer relative to the cost. We provide affordable prices with high quality. That means the same for less. Does our product offer unique benefits- Our target market will get unique benefits by buying this product. We will provide the best raw materials to our customer. Assuring the best quality and the after sales service with least possible price and in an industrial product we cannot do more than that.

    Pricing:
    Among the two principal of pricing strategies, skimming and penetration, we are going to adopt penetrating pricing that means our products price will be relatively low during the initial stage to penetrate the market quickly and deeply in order to attract a large number of buyers quickly and win a large market share. Another important reason is, it relates to our mission statement. This strategy will work because

    Our target market is quiet price sensitive. Production and distribution costs fall as sales volume increases. Low price will help us to keep out the competition. Locally manufacturing and low cost of production.

    Promoting:(direct selling) Distribution channel

    Porters five model:

    Budget: Ethical view: Conclusion:

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