,nmkljllkSpring 2012 “PRAN Instant Soup” Submitted to: Honorable Course Holder Mr. Bashir Uddin (Bhn) Submitted by: Date of Submission: 15th April, 2012 2 Table of Contents Index Acknowledgement Executive Summery Overview of the Company Mission Statement Vision Statement Introduction Page No 03 04 05 05 05 06 Market segmentation. selecting target 07 market & justification Develop and justifying the positioning Marketing Mix Strategy Conclusion References 09 11 11 08 2 . 3 Acknowledgment Our group project for the MKT 202 course in the spring semester of 2012 has been done under the caption of launching a new product of PRAN Company. Salman Farasee and Mahmud Sorwar. Sumaiya Hossain. Lastly this project has enabled us to lighten our knowledge of marketing process of a product. Also marketing strategies and techniques along with the company‟s new product development methods are also seen. Under this caption. If we can satisfy even a bit of our course instructor immense expectations that he has upon us. we carried out our work to prepare a report on “PRAN Instant Soup”. This report has enabled us to apply all that we have learned in class and also helped us to enhance our knowledge in Marketing 202. on how the marketing process and practices are done. Md. the members of this group are grateful to each other for all the effort and contribution of each naming. then we would think our group project to be successful. Zubayer Shahed Al-Amin. 3 . Bashir Uddin sir for giving us the opportunity to work on this project of launching a new product. Azizur Rahman. We would like to thank our respected course instructor Mr. This project would have been improper in the absence of any of the members of our group. So we. Place and Promotion of the brand. The report includes Company Overview which covers the company‟s history .e. In our next part we have touched the Marketing Mix where we have focused the 4 P‟s of marketing i. the Conclusion where we have focused on the overall view of the product and customer loyalty.Next the key information about the company‟s Mission and Vision Statement. Finally. where Taste and Health is given most priority.4 Executive Summary: We have prepared the following Report on PRAN Company which is offering a new product naming “PRAN Instant Soup”. We have provided comprehensive and informative idea and justification on Market Segment and Selecting Target Market. 4 . Price. In the next section which covered the Development of Positioning along with the justification. Also we are looking for the complete satisfaction of the customer through our product by the positioning. Product. Carbonated beverages. Snacks. The company is complaint to HACCP & certified with HALAL which ensures only the best quality products are reaches to the consumers table across the Globe. Culinary. The company has adopted ISO 9001 as a guiding principle of its management system. Mission statement: To generate employment and earn dignity & self respect for our competitors through profitable enterprise. Bakery.5 Overview of the company: „PRAN‟ started its operation in 1981 as a processors fruit and vegetable in Bangladesh. Over the years.e. Biscuits & Dairy. Confectionery. the company has not only grown in stature but also contributed significantly to the overall socio-economic development of the country. Mineral Water. PRAN is currently producing more than 200 food products under 10 different categories i. Juices. Drinks. Vision statement: “Improving livelihood”. All the PRAN products are produced as per international standards maintaining highest level of quality at every stages of its production process. “PRAN” is currently one of the most admired food & beverages brand among the millions of people of Bangladesh and other 82 countries of the world where PRAN Products are regularly being exported. 5 . They are produced on an industrial scale and treated in different ways for preservation.6 Introduction: Instant soups are a kind of soup which is marketed by packaging. Usually instant soups are dried and powdered form. It is very easy to prepare and take less time. PRAN is launching its Instant Soup under Brand extension where the product is completely new but having the same Brand name. 6 . psychographic and behavioral. Behavioral User status Regular users. We have segment the market in the form of geographic.Market segmentation. demographic. Psychographic Lifestyle People who are fond of appetizer. selecting target market & justification: We have decided to segment the consumer market in order to meet consumer needs in a traditional way. The table below the segmentation parts: Region All the divisions 7 Geographic Density Mainly city people Climate All. holiday. Occasion Regular occasion. Social class Middle class. first time user 7 . especially in winter and spring season Age All age group Income Demographic Above 5000 and students who are dependable to their parents Occupation Students. upper middle class. upper class. they can get it at their home. Business people and other people. Availability in a great range of tempting flavors and varieties. PRAN Instant Soup offers a delicious soup that is easy to prepare and perfect for a light meal or easy snack. 2) Health The Maggie is also positioned on the same dimension. Company objective and resource. Our company has the good amount of resource to attract this large growing segment. and low in fat. We have selected the busy persons especially the businessmen and corporate officials for saving their time and also to get a strong boost up feeling through our healthy and refreshing instant soup.1) Taste & 2) Health 8 . The size of our chosen segment is huge and is growing at a very fast rate. Segment size and growth 2.In order to target market. we have to look at three factors. the strategy which we adopted is the differentiated / segmented market. Also the students and other appetizer loving people can have this as their light meals. Segment structural attractiveness 3. Comparing positioning of competitors: The overall positioning of the Knorr is based on two dimensions 1) Taste and. PRAN Instant Soup is the convenient way to satisfy those hunger pangs. 8 Develop and justifying the positioning: Positioning for getting customer: For getting new and enriched customer we have to position in a way that the consumer will always remind our product. Through the resource allocation the company moves to achieve their goal and fulfill the objective. To evaluate the segment. They are1. Product name: PRAN Instant Soup 9 . We are providing the same product quality but in lesser price than the competitors. Brand name: “PRAN”. Marketing Mix Strategy: Product: Varity: We will provide 7 verities. Also we target to get the customer not to attain the profit.In this regard we can see that both of the company is focusing on two things Taste and Health issues.e. our positioning is also based on Taste and Health. Corn. Chicken. Justifying the positioning: We have selected this strategy as it is a new product. Quality: We focus on producing good quality and healthy soup. Mushroom and Tomato. These are Thai. Because customer always want a good product in less price. as we achieve the target afterwards we will focus on our profit level. This strategy will be affected in the market to compete with the competitors in a short-term effect to get a better result in the long. 9 Fixing our strategy: We will opt for “Same for less” in which the same benefit is given but in less price i. Vegetable. our main focus is to get the customer loyalty by giving them better and good quality product. Chicken Ginger.term benefit after we get a well establishment. Setting small booths in every super shop. We will sponsor school and college quiz shows where our product will be focused highly. In any festive and occasion we will provide some offer.Packaging: Attracting packaging and long term preservation. 2. colleges and universities. 10 Price: List price: Per packet price is Tk-32 where as market price of other soup is around Tk-35. 4. Discounts: Combo packet in which 4 packets of soups are there which costs only Tk 120 and save Tk 08. Place: In general all the big store and super shop especially in business area‟s retailers and groceries. 10 . Radio and Television. We will go for campaigning in schools. Some other activities are like:1. Promotion: Advertising: Our investment is high to aware the people through Newspaper. 3. We will be targeting to earn huge revenue and profit by satisfying our customer. 11 References: 1.net/who_we_are. Principles of Marketing: A South Asian Perspective by Philip Kotler 11 . as customer satisfaction is our number one priority. Upon implementing the marketing plan.com/csv/nutrition/positionedproducts/Pages/positionedProducts. http://brandpositioning.Conclusion: Based on the above analysis we believe that our new product will be profitable as it has strong outlook for market share presence and growth opportunities. we will try to win market share as much as possible. http://www.php 5.blogspot. http://www. http://www.PRANfoods. We also evaluate the customer‟s loyalty from which we will get our strong market position through their liking.html 2.nestle.net/mission_vision.PRANfoods. We will try to create the image of producing new and successful products and always diversifying the market so we hope that our product will be successful.aspx 3.com/2009/01/knorr.php 4.