EAST WEST UNIVERSITY

Faculty of Business Studies

Department of Finance

3nd year 1st Semester.

4th Batch

GROUP DETAILS

Group Name: ENLIVENNo NameName Roll no.

01 Md. Hedaytun NabiMd. Hedaytun Nabi 105296

02 Nahida Yeasmin RakhiNahida Yeasmin Rakhi 105321

03 Nazia Afroz NitiNazia Afroz Niti 105323

04 Shamima AkterShamima Akter 105289

05 Liton AhammedLiton Ahammed 105279

PRESENTATION ON

DEVELOPING A NEW PRODUCT MARKETING POLICY.

Course Title : Principles Of Marketing.

Course No : 2106

WE SELECT

AS OUR SELECTIVE PRODUCT

GREEN TEA

ENLIVEN

GREEN TEA

“Life is green, Chill & Refreshing………..”

Key Success Factors• Quality.

• Affordability.

• Strong distribution channel.

• Nutrient, hygienic and safety.

• Availability of raw material.

Objective of Green tea

To provide the customer delight.To export good quality special green tea.To extend the private labeling of green

tea.To import the tea vending machines to

Bangladesh.To promote the pure green tea.To become one of the top ten profitable

organizations in Bangladesh by the year 2020.

New product development strategy:As our green tea product is firstly launched in the

market, we have to maintain some strategy:

•Idea generation •Idea screening •Concept development strategy & testing

•Market strategy

•Business analysis

•Product development

•Test marketing •Commercialization

Marketing process

UNDERSTAND THE MARKET PLACE & CUSTOMER NEED & WANT.

DESIGN A CUSTOMER DRIVEN MARKETING STRATEGY.

BUILDING CUSTOMER RELATIONSHIP. CAPTURE VALUE FROM CUSTOMERS.

UNDERSTAND THE MARKET PLACE & CUSTOMER NEED & WANT:

To understand the marketplace & customer

needs & wants we should think the following

concepts:

• Needs wants & demands

• Market offerings

• Value & satisfaction

• exchange relationship

• Market

First of all we need to decide who will purchase

our product that means Green tea. We can do this

important task by market segmentation & target

marketing. Then We must decide how we will serve

the targeted customers green tea & how we can

differentiate our green tea from competitors.

DESIGN A CUSTOMER DRIVEN MARKETING STRATEGY

Market segmentation of green tea

• Resources: Tea leaves from Sylhet and Chittagong.

• Location: District areas, cities and crowded places.

• Consumer wants: People want easy to prepare, ready to drink, healthy and testy drink.

• Buying attitude and buying practice: Young, educated, tea loving and health conscious people.

• Geographic: Bangladesh, India, Nepal, Pakistan, England, and Malaysia.

• Demographic : Age range 10-55, single or married middle class income earners, working in multinational firms, private organizations and entrepreneur, family size of 1-4 kids, city based family or individuals.

• Psychographic : Travelers, primarily western belief health conscious, weight watchers, goes to the gym ,enrolled in different classes for fitness, readers of articles about health, has a trendy and exciting life style, interest and activities in sports, physical fitness and shopping.

• Attitudes and beliefs: Environmentalist health and security conscious, go –getter individuals.

• Behavioral: Individuals, who are independent, free spirited, has broad perspective and holistic view on their health, concerned about the physical appearance and well read about the latest trends in fitness and health.

Target markets Green tea primary target market is the

generation young who wants healthy

living.

Self –actualization: Happy with developing healthier life, self development, realization.

Esteem needs: Recognized for having a healthy and fit mind and body and status.

Social needs: Sense of belongings love, want to increase immunity, reduce cholesterol and prevent certain cancers.

Safety needs: Need a drink that has anti – oxidant, protection, security, and variety.

Physiological needs: Vitamins and minerals.

Competitive advantage

• Highly valued with vitamins, anti-oxidants, energy, minerals , protection against certain disease

• Ready to drink tea.

• Affordable, refreshing, and delicious drink.

• Cold tea.

• For the person who will quench the thirst of gym.

• For aware and go getter individuals.

• Ready available drink that will exceed the expectation and needs of individuals who are living in a fast – paced life style.

• Lemon flavored , ginger flavored tea.

FIVE CONCEPTS OF MARKETING STRATEGY

• Production Concept

• The product Concept

• The marketing concept

• The social marketing Concept

• The selling Concept

THREE SELECTED CONCEPT FOR GREEN TEA

• Product concept: It is the idea that consumers will favor products that we offer the most quality, performance & features & that the organization should therefore devote its energy to making continuous product improvements.

• Marketing concepts: By these we can achieve company’s goals depends on knowing the needs & wants of target markets & delivering the desired satisfactions better than competitors do.

• Social marketing concept: It is a principle of enlightened marketing that holds that we should make good decisions by considering consumers wants. Our requirements, consumer’s long-run interests & society’s long-run interests.

BUILDING CUSTOMER RELATIONSHIP:

This is the process of building & marinating profitable customer relationships by delivering superior customer value & satisfaction through our product Green tea.

CAPTURE VALUE FROM CUSTOMERS:

Capture value from customers in return. Good customer relationship will make the customers loyal & delight. And the loyal & delighted customers will purchase more & more Green tea at present & future.

Marketing Environment

Micro environment

• Company.

• Suppliers.

• Marketing. Intermediaries.

• Customer market.

• Competitor.

• Publics.

Macro environment

• Demographic

• economic

• Natural

• Technological

• Political

• cultural

Branding

A brand is a name, term, sign symbols or design or a

combination of these that identifies product.

Brand Name Selection:

Desirable quality for a brand name includes the following-

– It should suggest something about the product's benefits & qualities.

– It should be easy to pronounce, recognize & remember.

– The brand name should be distinctive.

– It should be extendable.

– The name should be easily translated into foreign language.

– It should be capable of registration & legal protection.

By researching above points ,We give Our product name "Enliven Green Tea”.ENLIVEN means refreshing, cheer up, comfort etc .

Pricing Factors

1. Value based pricing

2. Value added pricing

Value based pricing: Setting prices based on buyers perception's of value rather than on the seller's cost.

Value added pricing: Attaching value added features & services to differentiate a company's offers & to support charging higher prices.

For our product (Green Tea) we use "value added

pricing" factors for setting price.

Pricing strategy

• Market-skimming pricing: Setting a high price a new product to skim maximum revenue layer by layer. From the segments willing to pay the high price, the company makes fewer but more profitable sell.

• Market-penetration pricing: Setting a new price for a new product in order to attract a large number of buyer's & a large market share.

Product features GREEN TEA

High quality of vitamins & minerals. Relaxed & relives body & soul. Aids digestion. Reduces fatigue & improves concentration. Low in caffeine & high in fluoride. Strengthens blood vessels walls. Prevents cavities & aids, carbohydrate,

metabolism. Better tea leaf. Well refined. environmentally friendly packaging. Reasonable price.

Product Quality Strategy

PRICE Higher Lower

Higher

QUALITY

Lower

Premium

Strategy

Good Value

Strategy

Overcharging

Strategy

Economy

Strategy

Product Quality Strategy

From Above price quality strategies wetarget good value strategy. Because

We want to ensure our product quality at an affordable price.

We want to ensure our product qualityAs we target the middle class & higher

middle class people as buyer we must have to pricing our product within their buying power.

Market Analysis

About 87% of all tea especially is black tea &

12.5% is green tea. (Tea association)

Environmental Analysis

Largest percentage of Bangladeshi population is

Target market. Most residents are the

“Professional & business” or “health & social

services” classes of employment.

We have large rainfall area & sunny hill area

which is good for green tea.

Competitor Analysis

Black tea, white tea & coffee is the

most likely Substitute product for

tea. Our main competitors are Kazi

& Kazi tea,Ispahani Green tea &

Lipton Taaza tea.

SWOT ANALYSIS

Opportunities

• Greater antioxidant protection

• More sales for reasonable price.

• Low cost, quality product.

Weakness

• It’s a new product.

• Huge market share is captured

by competitors.

• Limited experience

Threat

• Competitors could also diversify their product.

• Our competitors are financially and technically strong.

Strengths

• First mover Advantage

• Reasonable price.

• All classes people might be our possible customers.

4p’s analysis

Product

• The shop.

• Different opening hours.

• Seating arrangements.

• Marketing approach.

Place (Distribution channel)

Set one channel member in each district.

High commission for retailer and distributor.

Credit facilities should be given to retailer.

Distribution should be effective. There must be an effective chain

information management. Supervision system. Sales team should be smart and

effective.

Pricewe sell our product on a packet inthree different ways. • Leaf in-52 tk/250 gm,leaf out -75

tk/250 gm.• Leaf in-210 tk/1 kg, leaf out-300tk/1

kg.• 5 tea bag in a packet which is

15tk/packet.Price may be increased to reflect quality.

Promotional Objectives

Develop awarenessGenerate trafficBuild loyal customer baseFree samplingAdvertising TV Campaign, magazines-newspapersPersonal sellingDirect marketingF.M. Radio. Create brand as national brand.

At a Glance

As Green tea is a new product in our country, so it has some lacking such as no popular brand name, people are not accustomed with such kind of product etc. But we hope we can easily overcome these lacking in our nearest future by providing better quality and creating strong brand loyalty among the customer. We believe that our people will prefer the Enliven Green Tea then traditional Tea after comparing the product benefits. Hopefully in near future our people will use green tea besides with traditional tea for achieving good health & cheer up their mind.