Principles of Marketing

Submitted To:-

S M Asif Ur Rahman

Assistant Professor

School of Business & Economics (SOBE)

Submitted By:-

Name ID
Mashfik Uddin Khan 111 171 164 ( )
Md.Musaddiq khan 111 142 021 (02)
Arifa Hossain 111 171 085 (20)
Md.Ariful Islam 111 171 153 (23)
Moshiur Rahman 111 171 137 (21)

Section- A

Date of Submission: 26 December, 2018

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Skimmed Milk

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 Table of Contents

Executive Summary ................................................................................................................... 5

Current Situation ........................................................................................................................ 6
Targeted Market: .................................................................................................................... 6
Targeted market is the primary group of people who need your products and services and
who need to reach to sell your product and service. .............................................................. 6
Targeted Group: ..................................................................................................................... 6
 Aged People ............................................................................................................ 6
Targeted Group Profile: ......................................................................................................... 7
 Age: ............................................................................................................................. 7
 Gender: ....................................................................................................................... 7
 Income: ....................................................................................................................... 7
 Profession: .................................................................................................................. 7
 Class: .......................................................................................................................... 7
 Geographic Area: ...................................................................................................... 7
 Psychographic variables: .......................................................................................... 7
 Behavioral variables: ................................................................................................ 7
Opportunity and Issue Analysis ................................................................................................. 9
 Opportunity: .................................................................................................................... 9
 Threats: ........................................................................................................................... 9
Objective .................................................................................................................................. 10
 Product Idea Development:........................................................................................... 10
 Product level & type: .................................................................................................... 11
 Level 1: Core Product ............................................................................................. 11
 Level 2: Actual Product .......................................................................................... 12
Marketing Mix: .................................................................................................................... 14
Product: .......................................................................................................................... 14
Price: ............................................................................................................................... 15
Place: ............................................................................................................................... 15
Promotional strategies: .................................................................................................. 15
Marketing Mix Performance: ............................................................................................... 16
 Features: ................................................................................................................... 16
 Size:........................................................................................................................... 16
 Shape: ....................................................................................................................... 16
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  Color: ........................................................................................................................ 16
 Expected price range: ............................................................................................. 16
 Distribution process: ............................................................................................... 17
Promotional strategies:......................................................................................................... 17
Super shop: ..................................................................................................................... 17
Social media:................................................................................................................... 18
Leaflet: ............................................................................................................................ 18
Radio: .............................................................................................................................. 18
Newspaper: ..................................................................................................................... 19
Supportive services: ............................................................................................................. 19
Action Programs ...................................................................................................................... 20
1. Product: ......................................................................................................................... 20
 Ingredients- .............................................................................................................. 20
 People: ...................................................................................................................... 20
 Machinery: ............................................................................................................... 20
 Finance: .................................................................................................................... 20
 Time: ......................................................................................................................... 20
2. Location: ....................................................................................................................... 20
3. Legal environment: ....................................................................................................... 21
4. Inventory: ...................................................................................................................... 21
5. Supplier: ........................................................................................................................ 21
Financial Projection ................................................................................................................. 22
Required Investment: ........................................................................................................... 22
Existing market competition: ............................................................................................... 22
Sources of Money: ............................................................................................................... 22
Uses of Money: .................................................................................................................... 23
Conclusion ............................................................................................................................... 23

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Executive Summary

We are launching a product which falls in the category of food. Skimmed milk is milk from
which the cream has been removed. Skimmed milk (British English), or skim milk (American
English), is made when all the cream (also called milk fat) is removed from whole milk. It
tends to contain around 0% fat.

In the first world countries, most of People are health conscious. So, it is a big opportunity for
the producers to capture to those consumers mind with keeping themselves fit and earns a
huge profit. That’s why, so many international company have launched this kind of product
in their market. And can satisfy their consumers.
In our Bangladeshi market, several types of milk. But those milk are not healthy enough for
the customer. They have to boil or reproduce that separately. We are introducing ready
skimmed milk is unique and new in Bangladesh market.

Mainly we are focusing on the people who are aged more than 45 years. But, they are very
much concern about their health and nutrition without any chemical reaction. Our product
may help them to make easy & healthy source nutrition for them.

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 Current Situation

Targeted Market:
Targeted market is the primary group of people who need your products and services and
who need to reach to sell your product and service.

Targeted Group:

 Aged People

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Targeted Group Profile:

Age:

Working people buy milk is for them aged 35-55 years. Also people who are aged 21-
30 are also very much caring about their health and consume milk. There are many
types of milk in the market. Our product is unique. So 21-55 will be our targeted aged
people
Gender:

The ultimate consumer of this product is for both male and female. There is no
selective gender.

Income:

After analyzing our average economic condition this product is for people of middle
income and higher income.

Profession:

The working class of people can use it. People who go gym cane purchase it. People
who works in media it is also effective for them. Senior citizens who are now on
retirement.
Class:

Upper classes, Upper-middle, Middle classes.

Geographic Area:

Metropolitan cities.

Psychographic variables:

Targets the variety, healthy and taste seeking people.

Behavioral variables:

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Focusing Regular, potential and non-users intending towards interested, desirous and
enthusiastic buyers.

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 Opportunity and Issue Analysis

Opportunity:

 Expand the market through advertisement.

 No other Bangladeshi company enters Bangladesh market.
 Adapting to technologies.
 Additional products, Choco powder, nutrition powder.
 Increased concentration in market share.
 Allergy specific/Cultural specific lines.

Threats:

 Other company can come after watching our idea.

 Increase the cost because of inflation.
 Competitions and Substitutes.

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 Objective

 Product Idea Development:

 Skimmed milk is unique and new in Bangladesh market.

 People are concerned to consume this type of milk. In Bangladesh skimmed milk
can attract good number of consumer.
 Skimmed milk to digest as it is consisting of 0% fat.
 In USA it is famous and is ‘called 'blue-top'.

 Brand name of our product is Skimmed Milk TM

 Slogan/ motto:
Say Yes to Nutrition
No to Fat

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  Product level & type:

Level 1: Core Product

In our product main target is fulfilling hunger and nutrition. But there is other. So prior to
designing any product we need to consider the list of core benefits the product needs to provide.

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 Level 2: Actual Product

In this stage we have to consider our product quality, product service and features, styling,
branding and packaging.

How Skim milk is made

To provide the nutrition we design this milk considering about people aged 21 to 55.
So how is skim milk made? Traditionally, the fat was removed naturally from milk due to
gravity. If fresh milk is left to sit and settle, the cream — which is where most of the fat is —
rises to the top, leaving behind milk with much less fat. The quicker, modernized way of making
low-fat and skim milks is to place the whole milk into a machine called a centrifugal separator,
which spins some or all of the fat globules out of the milk. This occurs before the milk is
homogenized, a process which reduces all the milk particles to the same size so that natural
separation doesn't occur anymore.

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Methods for reducing fat

To reduce the fat content of milk, e.g. for skimmed or semi-skimmed milk, all of the fat is
removed and then the required quantity returned. [Citation needed] The fat content of the milk
produced by cows can also be altered, by selective breeding and genetic modification. For
example, scientists in New Zealand have bred cows that produce skimmed milk (less than 1% fat
content).

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Marketing Strategy

Marketing Mix:

Product:

Our product is skimmed milk that a person can get nutrition of milkwithout getting the fats. All
the other benefits of milk will be remaining same.

 Variety: Our product is totally different from all the milk exists in market.
 Quality: To provide better quality we using world class machinery to produce it.
 Nutritional value per 100 ml of product (g):

 Design: Our packet design is semi square shape. As like this picture

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  Services: We will distribute our product in General stores, Super shop and glossary
shops.

Price:

Our product price is varies with the size of the Packet.

Place:

We will distribute our product in General stores, Super shop and grocery store in populous and
big areas.

Promotional strategies:

We will give advertisement to newspaper, some television channel, social networking sites and
etc. We will make package for the customers.

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Marketing Mix Performance:

Features:

Our company has adopted ISO 9001 as a guiding principle of its management system. The
company is complaint to HACCP & certified with HALAL which ensures that only the best
quality products are reaches to the hand of customers.

Size:

Our product will be available in the size of 100ml& 500mg bottle pack.

Shape:

It will be packet shaped.

Color:

Color of packet will be combination of blue and White.

Expected price range:

As we are new in the market, for that case we will be charged a little bit high price at our
beginning stage.
“Skimmed Milk” will be available from -

Size Market price

100ML Packet TK- 70

500ML jar TK- 290

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 Distribution process:

Our product is totally new for the Bangladeshi market. So it is tough to implement a proper and
supportive distribution process for our product.

Though we will have few customers in our local market for our product, we are mainly concern
about the distribution channels like super shops, retailers for upper-upper class, upper middle
class and middle class people. It can be easier sometimes to provide personal selling in the
offices because our target customers are also working aged people.

Promotional strategies:
For a certain time, we will be the market leader if we are constructing some attractive
promotional tool.

Television:

Television advertisement can always be a better option for promoting a new product with an
attractive message. Customers can be known during watching television.

Super shop:

Customers can also know about our product when they are doing shopping in super shops like
Aarong, Swapno, Agora, Meena Bazar through our sales representatives.

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Social media:

Now a days, corporate and the working people can’t imagine there life without social media
networks like Facebook, Twitter, YouTube, LinkedIn and so many.

We can use Facebook fan page for our product promotion with the proper description about the
nutrition level of our product.

Leaflet:

We can also provide leaflets in the selective offices with the colorful picture and some important
information about our product. That can be effective because people can know about our product
during office works as well.

Radio:

Radio can be another prominent way to promote our product. The Radio jockey can make clear
sense about our product through his or her show.

Our radio broadcasting partner will be-

 Radio Foorti
 Radio Amar

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  Radio today
 Dhaka FM

Newspaper:

One of the easiest ways to communicate with the target customers is newspaper. Putting a
colorful picture in the newspaper with some information which can make value proposition for
our product.

Supportive services:
We are launching a totally new product in our Bangladeshi market. We must provide some
supportive services with our product. Like-

 Knowledge about using our product.

 Ready to solve matter about our product troubles.
 Scope to alter our product by sizes.

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 Action Programs
1. Product:

Ingredients-

Pure fresh milk from dairy firm.

People:
The employees that are involved in running the machinery.

Machinery:
SY- 450 type mini liquid shaker screen skimmed milk filter machine.

Finance:
The wages of the employees, the cost of the raw materials, and the purchase of the machinery
will all need financial resources.

Time:
Its a resource that is often neglected. However, the timing of operations needs to be well planned
and organized.

2. Location:

We will run our business mainly through physical store & we will also provide online service.
All the activities will be done through our store as well as from website. We will set our outlet in
Dhanmondi area.

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 3. Legal environment:

A partnership may be registered with Registrar of Joint Stock Companies and Firm of
Bangladesh (“RJSC”).

4. Inventory:

 We will collects the milk from our supplier.

 After packaging we will keep the main product to our store.

5. Supplier:

Serial No Name of Products Name & Address

a Packets Amptex Limited

House-01, Road-10, Sector -04,
Uttara,Dhaka-1230
Bangladesh.

b Milk Pranto Dairy Firm

Hemayetpur Bus Stand, Hemayetpur,
N5, Savar-1340
Bangladesh.

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 Financial Projection

Required Investment:
We are supposed to invest a little bit large amount of money for launching such kinds of product
in our Bangladeshi market. But, if the consumers are satisfied with our product, we will earn a
huge from them later.

Existing market competition:

In our Bangladeshi market, we are the beginner of this kind of products. So, we do not have
relative competitor in Bangladeshi local market.

Sources of Money:

Item Amount
1.Promoters' Contribution
Musaddiq Tk2,50,000
Arifa Tk2,50,000
Mashfiq Tk2,50,000
Arif Tk2,50,000
One investor Tk 2,50,000
Moshiur Tk 2,50,000
2. Bank Loan Tk4,00,000
3.Friends Contribution Tk2,00,000
4.Other Sources Tk 3,00,000
Total Tk 24,00,000

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Uses of Money:

Title Amount
1. Store Cost(with decoration) Tk1,00,000
2. Land and Building Tk6,00,000
3. Machinery Tk 3,00,000
4. Legal work ( including partnership agreement) Tk5,000
5. First month operating cost Tk50,000
6. Salary Tk1,80,000
7. Sample & Advertisement Tk30,000
8. Delivery Vehicle Tk 60,000
9. Electricity Requirement(12 months) Tk 70,000
10. Miscellaneous Assets Tk90,000
11. Raw Materials TK6,00,000
12. Technical Fees Tk2,000
13. Contingencies Tk13,000
14. Reserve Capital Tk3,00,000
Total Tk 24,00,000

Conclusion

After launching this product, we will wait for the customer feedback. If customer feedback gives
us the positive sign then we will go for big assignment.

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Appendix
1. www.Learnarketing.net
2. www.Linkedin.com
3. www.ideageneration.com
4. www.wikipedia.com
5. www.assignmentpoint.com
6. www.studocu.com
7. www.chegg.com

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