August 27, 2012

M.Mamtajul Haq Azad

Senior Lecturer

ULAB School of Business

University of Liberal Arts Bangladesh

Subject: Submission of the report on “Marketing plan of Harnest Label Industries Ltd.”

Dear Sir,

We would like to inform you that we have completed the preparation of our presentation on marketing plan. We made the term paper successfully on “Marketing plan of Harnest Label Industries Ltd”. We have really enjoyed the various stapes preparing the report. We have visited an organization and have also collected different information and primary data. We think this report enriches our practical knowledge on marketing plan.

In these circumstances, we pray and hope that you would be satisfied on our report .There may be some mistakes. We think the mistakes in the report will be kindly excused.

Sincerely,

Md. Ashiqur Rahman

Md. Shohan Parves

Md. Azaharul Islam

Naima Mohammad Honey

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One of the most pleasant parts of writing this report is the opportunity to thanks those who have contributed to it. Unfortunately, in any establishment, the list of expression of thanks- no matter how all-embracing- is always imperfect and insufficient, this acknowledgement is alike other is not an immunity.

At first we want to thanks to Almighty Allah who gave us energy and patient and also knowledge for making that kind of report. Secondly we want to thanks our course instructor M.Mamtajul Haq Azad without whom we must be unable to make it. We want to give thanks to management personnel and all employees to help us collecting information. We are very happy to participate in this project work.

Finally we want to thanks our friends and respondents who helped us for gaining information and complete the report successfully.

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Acknowledgement

CHAPTER 1 PAGE (5 & 6)

1.1 INTRODUCTION OF THE REPORT

1.2 OBJECTIVES OF THE TERMPAPER

1.3 SOURCE OF DATA

1.4 METHODOLOGY

1.5 LIMITATIONS

CHAPTER 2 PAGE (6, 7, 8 & 9)

2.1 INTRODUCTION OF THE COMPANY

2.2 BACKGROUND OF THE COMPANY

2.3 CURRENT MARKET ANALYSIS

2.4 ANALYSIS MARKETING MIX

2.5 SWOT ANALYSIS

2.6 PRESENT REASULT OF THE COMPANY

CHAPTER 3 PAGE (10 TO 16)

3.1 DEFINITIONS OF THE TERMS: MARKET, MARKETING, MARKETING MIX, BOSTON -

CONSULTING GROUP APPROACH (BCG)/PORTFOLIO ANALYSIS, AND SWOT ANALYSIS

3.2 CURRENT MARKETING SITUATION

3.3 THREATS AND OPPORTUNITIES

3.4 OBJECTIVES AND ISSUES TO ACHIEVE IT

3.5 DEVELOPING MARKETING STRATIGIES

3.6 ACTION PROGRAMS

3.7 BUDGETING: BI ANNUALLY OR ANUALLY OR MONTHLY BUDGET FIXATION

3.8 CONTROLLING PROCES

CHAPTER 4 PAGE (16&17)

4.1 FINDINGS

4.2 RECOMMENDATION AND SUGGESTIONS

4.3 LIMITATIONS

4.4 CONCLUTION

REFERENCES *APPENDIX, BIBLIOGRAPHY PAGE 17

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Table of contents

Economy of Bangladesh seeks more development garments industries. Harnest Label Industries Ltd. evolves to contribute in this development. The project’s vision is to meet the increasing demand of garments accessories. Various kinds of labels and garments accessories are produced by “Harnest”.

“Harnest” segment market based on different product quality. We basically target top garments companies. We will introduce our product through advertisement.

The main sources of supply of raw material are Local. The raw materials are mainly collect from Chittagong.

As Bangladesh has huge opportunities in garments sector, Government here wants to develop the sector by plans, policies & legislations.

Our company is not so old, so we need time to reach the level from where we can compete our competitor .In our field their position very strong because they serve in this field very long time.

It is very difficult to establish and gain popularity in this field. We act as market challenger and try to obtain the market leadership .Our motto is to serve the quality products at a low cost and capture the market.

The concept is that the business should be actively concern with the development of garments sector at large.

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Synopsis

1.1 INTRODUCTIONProblem Statement:Marketing plan of an organizationQuestion:“How a marketing plan works?”

1.2 RESEARCH OBJECTIVESThe objective of this research will be very obviously to find out how an effective a marketing plan can be a very useful thing for an organization. We want to know “how a marketing plan works?” and learning and changes to better understand its use in an organization.

1.3 SOURCE OF DATA

This work is based on both primary and secondary sources. The secondary sources of data include internet articles, some foreign and local websites on. Most of the data required for the study were collected from primary source through exploratory study and brain storming. The data are in the questionnaire is based upon service perception of the group.

Data collection source-

The information and data used in this report have been collected from both primary and secondary sources:

Primary sources-

Observation as a team, Teacher and Classmates.

Secondary sources-

Books and websites.

1.4 METHODOLOGY

The research had followed exploratory research. Visiting the organization and Searching on the internet and books related to the marketing plan of a organization.

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Chapter 01

1.5 LIMITATIONS

During the study of the report we have faced following problems-

1. Time and resources are not enough for such an extensive study.2. Source of data is very Complex so that we could not work over the theories but

explained in our own words.

2.1 INTRODUCTION OF THE COMPANY

Harnest one of the largest labels manufacturers in Bangladesh. Harnest takes pride in our excellent relationships with long establishment customers. Service and information are as important as the product itself and very proud that is its loyal consultancy produce levels second to none. The company is currently nominated by C & A, H & M, and Wal-Mart. The company aim to able to supply all kinds of woven labels to all of its customers.

2.2 BACKGROUND OF THE COMPANY

Harnest was established in the early 1990's; situated in Tongi, just is outskirts of Dhaka.

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Chapter 02

2.3 CURRENT MARKET ANALYSIS

According to the information from different sources “Harnest” is now the market leader in the garments accessories (label) sector. After nominated by C & A, H & M, and Wal-Mart they came now one more steps ahead.

2.4 ANALYSIS OF MARKETING MIX

Our marketing mixes for the products of “Harnest” are:

Product Marketing:

For launching a product in the market, there is some procedure that should be followed by every marketer to move in the long run. Our product will enable our customers to have a different experience to use our labels. They will be able to differentiate our product in quality which is unique in the Accessories market. They will not be able to feel the same way for the other labels.

Pricing Strategies:

We shall charge based on “Overhead Expenses” and “Cost Plus”. Overhead Expenses include rent, gas and electricity, business telephone calls, packing and shipping supplies, delivery and freight charges, cleaning, insurance, office supplies, postage, taxes, repairs, and maintenance. The accuracy of our costing will depend on estimating logical amounts for all categories of expenses. We have to list all overhead expense items and total they divide the total overhead figure by the number of items per month (or time period we used above).

The answer is our overhead per item:

Utilities+Depriciation+ Materials + Labor = Total Cost/Item

Place:

We primarily use our existing distribution system for distributing our product. We have storage facility at our factory and also have own transport to deliver products.

Advertising and Promotion:

Our company don’t have more action programs like others.We spend a little amount of money behind advertisement because the product quality is very good and also have a great demand

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in this field.They only have some bill board advertisement. We have many bill boards in both side of Dhaka,Mymensingh highway.

2.5 SWOT ANALYSIS

A SWOT analysis is overall evaluation of the company’s Strengths, Weakness, Opportunities and Threat. Strengths and Weakness are internal value creating (or destroying) factors such as assets skills or recourses etc. And Opportunities and thereat are external value creating (or destroying) factors a company can’t control.

Strengths of “Harnest Label Industries Ltd”:

The large portion of this company established in their own land. This company is well equipped with skilled, and expertise and productive manpower.

They are doing timely shipment and 100% perfect quality. Ability to cope with the change. Attractive pay package. They arranged required raw materials as per requirements of their valued buyers and

provide samples on specific queries in a very quicker way. Experienced management team. Good working condition. Modern technology. Innovative product line. They are corresponding with buyers firstly.

Weakness of “Harnest Label Industries Ltd”:

Shortage of marketing expertise. Lacking accountability. Number of employee is not so much. Need to require proper coordination with different section.

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SWOT

Strength Weakness Opportunity Threat

Delay in payment from supplier. Conflict and working load are seen. The subordinate are not taking any decision or policy making meeting. The decision

always comes from Managing director. Location of the factory. Power centralization by the top management. Nepotism and corruption are available.

Opportunities of “Harnest Label Industries Ltd”:

They can lead against weak competitor. They always try to higher dynamic young people so that output will come more. Attain different trade fare and get new idea related with today’s business. They can give extra facility to gain customers satisfaction. Scope of expansion on of business.

Thereat to “Harnest Label Industries Ltd”:

Government tax and vat structure. In Bangladesh, so many companies are there. For that reason, buyer are offering lower

price. Competitor offer and new innovative substitute products. Delay of payment from buyer creates some times bad situation of company’s liquidity

and future financial budget plan. Strike (Hartal) Skilled employee switching.

2.6 PRESENT REASULT OF THE COMPANY

Definitely there is no justification brooding on the past unless we utilize that experience in the further course of time. Let’s try to find out the present standing of “Harnest”.Customer Base:At present most of the companies situated in Dhaka, are purchasing labels from Harnest and now international company like C & A, H & M, and Wal-Mart approved Harnest’s labels.

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3.1 DEFINITIONS

Market:

Market is a set of actual and potential buyers of a product.

A market is one of many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established.

Marketing:

Definition:

The process of creating consumer value in the form of goods, services, or ideas that can improve the consumer s life.

AMA definition:

“Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.”

Philip Kotlers definition:

Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others.

Marketing Mix:

A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income. Sometimes the first P (Product) is substituted by presentation. See also marketing and mega marketing.

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Chapter 03

Portfolio Analysis:

Portfolio analysis is a systematic way to analyze the products and services that make up an association's business portfolio. All associations (except the simplest and the smallest) are involved in more than one business. Some of these include publishing, meetings and conventions, education and training, government representation, research, standards setting, public relations, etc. Each of these is one of the association's strategic business units (SBUs). Each business consists of a portfolio of products and services. For example, an association's publishing business might include a professional journal, a lay magazine, specialized newsletters geared to different member segments, CDs, a website, social networking sites, etc.

Portfolio analysis helps you decide which of these products and services should be emphasized and which should be phased out, based on objective criteria. Portfolio analysis consists of subjecting each of the association's products and services through a progression of finer screens. During a time of cutbacks and scarce resources, it is essential to screen out programs and services that are not essential to most members. Those that appeal to a more limited segment can be funded by those desiring the product or service rather than by dues.

SWOT Analysis:

SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses/Limitations, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.

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3.2 CURRENT MARKETING SITUATION

“Harnest Label Industries” was born in 1990. Keeping in view the corporate mission of the Group they have over the years diversif ied their act iv it ies in whole accessories market . Harnest’s biggest asset is their competent team of hands-on managers a n d d e d i c a t e d e m p l o y e e s . H a r n e s t i s B a n g l a d e s h ' s l a r g e s t p r o d u c e r of labels. Their ski l led workers produce the choicest labels produced in their modern and factory to highest quality & international standards. Harnest founded 21 years ago by an entrepreneur with experience in the product market o f B a n g l a d e s h . D i f f e r e n t t y p e s o f p r o d u c t s i n c r e a s i n g l y p o p u l a r today, forecasts suggest that annual sales of such products will grow at more than 36 percent for the next 3 years. Because our garments industries are increasing day by day and products needed is also increasing. Harnest must carefully target specific segments with features that deliver benefits value by each customer group.

3.3 THREATS AND OPPORTUNITIES

Threats:

Threats arise when conditions in external environment jeopardize the reliability and profitability of the organization’s business. They compound the vulnerability when they relate to the weaknesses. Threats are uncontrollable. When a threat comes, the stability and survival can be at stake. Examples of threats are - unrest among employees; ever changing technology; increasing competition leading to excess capacity, price wars and reducing industry profits; etc.

Opportunities:

Opportunities are presented by the environment within which our organization operates. These arise when an organization can take benefit of conditions in its environment to plan and execute strategies that enable it to become more profitable. Organizations can gain competitive advantage by making use of opportunities. Organization should be careful and recognize the opportunities and grasp them whenever they arise. Selecting the targets will best serve the

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clients while getting desired results is a difficult task. Opportunities may arise from market, competition, industry/government and technology.

3.4 OBJECTIVE AND ISSUES TO ACHIEVE IT

A marketing plan can help you set your promotional goals for the year.

Marketing plans are written documents that help you communicate your marketing efforts for the following year. One of the most important parts of the marketing plan is the objectives and issues section, which helps internal employees or external stakeholders understand your marketing goals. You should communicate your objectives in the very beginning of your marketing plan. Write your marketing plan objectives and issues so they are "SMART," which stands for specific, measurable, achievable, realistic and timely.

Specific:

The first aspect of writing SMART marketing plan objectives and issues is to make sure they are specific, detailed and results-oriented. Write your marketing objectives so they communicate exactly what has to be achieved and by whom. For example, an objective statement like, "Increase efficiency" is much too generic. To make this more specific, you can write, "Increase efficiency within the project management team by 12 percent by increasing our number of billable hours." You can see how being more specific can help you clearly define and address your issue in your marketing plan.

Measurable:

According to Entrepreneur Magazine, to set a measurable marketing goal, start by reviewing your sales numbers, market growth, and market size and product performance. For each of your marketing objectives, describe what you intend to accomplish along with quantifiable numbers to give you a concrete goal to shoot for. For example, saying you want to, "Enter into the other accessories market segment" is not a measurable goal. Instead, say something like, "Go from 0 percent to 5 percent of the other accessories market share in Harnest in two years" is a measurable goal.

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Achievable:

SMART objectives in a marketing plan also need to be achievable. If you set objectives that you think you can't achieve in the coming year, you may waste resources and lose motivation. While writing your goals, make sure you set achievable expectations in your plan.

Realistic:

Your marketing plan objectives also should be realistic. While this aspect of SMART goals is similar to "achievable," the difference is making sure you have the necessary resources in place to accomplish the objective. Examples of resources include employees, budget, technology and time. The key here is to closely review each of your objectives and issues, and make sure you have the resources in place for them to be realistic.

Timely:

Finally, the objectives of your marketing plan should be time-based. Setting a date for when you want to accomplish each of your goals gives you a specific mark to measure against. Saying, "Increase sales by 15 percent by October 2012" leaves no doubt as to the time you have to complete the goal. Once you specify a time frame, you can then lay out a detailed plan for how you will accomplish the goal or address the issue in the rest of your marketing plan.

3.5 DEVELOPING MARKETING STRATIGIES

Marketing strategy for selected buyers or existing buyers:Marketing strategy for selected buyer or existing buyer to communicate them time to time and try to fulfill all requirements for each order and keeping the long term relationship.

Marketing strategy for potential buyer:At first, Communicate with the potential / new buyer by issued Business development letter including complete profile of the factory. By this letter “Harnest Label Industries Ltd”. Offer to buyer for factory evaluation. After that it requested buyers to visit there factory on their suitable time. If buyer satisfied by seeing the factory then there is a chance to get order from buyer.

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Just-in-time inventory and efficiency increases, if the raw materials or components can be supplied in production very close to the time when they are actually needed in the production process.

Self-managed work teams and efficiency – these teams provide a flexible workforce and reduce the need for supervision.

Process reengineering and efficiency – radical redesign of business processes can improve performance.

Information systems, the internet, and efficiency, the internet can significantly

reduce a company’s ordering and customer service functions.

3.6 ACTION PROGRAMS

The company don’t have more action programs like others.They spend a little amount of money

behind advertisement because the product quality is very good and also have a great demand

in this field.They only have some bill board advertisement. The company have many bill boards

in both side of Dhaka,Mymensingh highway.

3.7 BUDGETING: BI ANNUALLY OR ANUALLY OR MONTHLY BUDGET FIXATION

The company is not interested to provide accounting related informations to students.

The budget of a company is often compiled annually, but may not be. A finished budget, usually

requiring considerable effort, is a plan for the short-term future, typically one year. While

traditionally the Finance department compiles the company's budget, modern software allows

hundreds or even thousands of people in various departments (operations, human resources,

IT, etc.) to list their expected revenues and expenses in the final budget.

If the actual figures delivered through the budget period come close to the budget, this

suggests that the managers understand their business and have been successfully driving it in

the intended direction. On the other hand, if the figures diverge wildly from the budget, this

sends an 'out of control' signal, and the share price could suffer as a result.

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3.8 CONTROLLING PROCESS

Harnest’s control depends on the customer satisfaction. If customer demand different quality’s

with which they feel comfortable, then we simply change our controlling techniques.

4.1 FINDINGS

We have collected primary and secondary data. We collected information’s from Marketing and Accounts department. We also visited all department of that company. We knew about the “Background of the company, Current market analysis, Marketing mix, SWOT analysis, Action programs, Budgeting etc.”Practically we have understood how a company works.

4.2 RECOMMENDATION AND SUGGESTION

The company is a fastest growing in this field. But, it only produces “Label”. It can produce other garments accessories. It has good capital and enough land to extend its business.

The website of this company doesn’t give enough information to its user, so the company should make it more attractive and full of related information’s.

4.3 LIMITATIONS

During preparation of this report, we faced some problems. These include -

Employees have to spend busy hours with their daily works. For this reason they cannot fully cooperate with us to complete this report.Time was not sufficient to visit all the departments & learn all things deeply.

4.4 CONCLUSION

During the visit at “Harnest Label Industries Limited” we have tried to observe every department & acquire some knowledge. This practical work has been arranged for gaining knowledge of practical operation and to compare this practical knowledge with

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Chapter 04

theoretical knowledge. It is not possible to go to the depth of each activities of this organization because of time limitations. However, we have provided my highest effort to achieve the objectives of gathering practical knowledge.

Philip kotlar and Gary Armstrong .Principles of Marketing. Prentice Hall India, Twelfth Edition.

Md.Rony (Marketing Executive-Harnest)

Website Visit: www.google.com

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References