Course: BBA 2310

Section: A

Content: GROUP REPORT ON PRODUCT PLANNING

Submitted To: M M Mofiz Uddin SUBMITTED BY : ID : 180371192

Lecturer, Marketing and Management 180371189

Northern University Bangladesh 180371174

180371190

180371194

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 Table of Content

Topic Title Page Number

1.Introduction 3
2.Mission and Vision Statement 4
3.Market Segmentation and 5
Market Targeting

4.Market Positioning and SWOT 5

analysis

5.Marketing Mix Strategy 7

6.Pricing Strategy 8
7.Place/Marketing Channel 8
8.Promotion 9
9.Conclusion 11

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INTRODUCTION

Our country is known for its inexplicable nature of its taste buds in different regions. People in
Bangladesh are always curious to try out different versions of food, be it local, international, continental
or mere street food. A new launch in the food industry will always eager the consumers to try it out.
However, with time people of all ages have started being health conscious and selective in their nature
of food consumption due to the unfortunate effects it might have on them sometime. Hence, it is
common to check on the cholesterol level, sugar level of certain food items when consuming them
which led to some consumers not being able to take certain products they like or intend to take.

“Valence” ice cream is a new and improved collective of the sweet item which is surely unique. It is a
natural and nitrous ice cream, with its main feature being ‘sugar-free’ for all the health-conscious people
not being able to consume the normal ice creams in the market. Valence is a new low fat, sugar free,
frozen dessert that tastes completely like the real thing. The concept of our product is to give the
consumers a way to taste their favorite dessert without the trouble of the sugar consumption associated
with it that might bring health hazards. Valence will provide the consumers as a cheat to their favorite
item, which will include various flavors of choice, extra toppings and much healthier in comparison to
other brands in the market. The consumers will get a brand new get away product from their health
perspective that will be Delicious, Premium, and easily available to them.

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VISION STATEMENT

1. To ensure people that our product is not harmful for their health.

2. We want to ensure good market growth for our product within a short time.

3. We want to maintain our profitability by creating superior customer value.

MISSION STATEMENT

1. To sell healthy and delicious Ice-Cream around all over the country.

2. To attract our customer by using updated technology and also by introducing new innovation to them,
so that they can differentiate our service from others.

3. To position our business statement in the mind of consumer for better brand impression.

4. To satisfy our customer needs and wants through maintaining the best product attributes always.

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MARKET SEGMENTATION

The market segmentation of our product will be Demographic based segmentation. The market will be
divided according to the factors such as:

•Income

•Age

•Family

•Generation

Moreover, we will also take into account the Geographic factors in case of segmenting the market that is
observe the geographical differences in needs and wants and deliver our product in accordance to that.
The main target consumers for Valence ice cream would be the people who are health conscious or the
ones who cannot intake the sugar consisted ice creams due to their various health processions, of
different age groups. Segmenting the market through these factors will help us determine what the
consumers are demanding and help us serve them more practically.

MARKET TARGETING

Our selected target marketing strategy is Concentrated Marketing. It is a market coverage strategy in
which firm goes after a large share of one or few segments or niches. Our product is Diet Ice-Cream,
which is very health conscious product. People who are suffering from many health problems but they
want to taste ice cream more often, our product is only for them. We didn’t use Un differentiated
strategy because we don’t want to capture the whole market and our product is not commonly for
everyone. On the other hand, we didn’t want to use the Differentiated marketing strategy because we
are not allowed to capture many segments at this early stage. We will apply Differentiated strategy after
getting the market report, If our products have enough market desirability or not. We couldn’t use
Micromarketing because we don’t want to capture the local and individual market. So our main strategy
is Concentrated marketing because we want to capture the large share of health conscious and elderly
people. So we think this will be the best strategy for our product at this early stage.

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We will sell our product firstly in Dhaka City as it is the capital of our country Bangladesh. Based on the
market report of Dhaka city, we will try to expand our business in the other cities as well, if the market
has a positive intimation.

MARKET POSITIONING:

As a new product in the market, we segmented our products based on the consumer’s income, age,
family etc. Valence (Eat and lose Weight) will get into the customers mind. The food we will provide will
be both tasty and healthy which is our product strategy positioning, with easy availability, and better
health guarantee. We also positioned our product based on people. Our main target is the health-
conscious people of both younger generation and old citizens. They will be informed how our product
actually function.

SWOT ANALYSIS:

Strength: Our product with a new and improvised version of ingredients will easily attract the
consumers as it will promise health beneficiary containments.

Weaknesses: As it is a new invented product there will be a slight risk in launching, for instance it the ice
cream might not be able to perform completely like it promises in its tagline.

Opportunities: We will have opportunities as this a completely new product in the market and hence
will initially give us little to zero competition.

Threats: There will be high chances of more competition entering the market if it is successful, making it
highly competitive.

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MARKETING MIX STRATEGY (PRODUCT):

Natural and nutritious ice cream is served for our customer. We provide many types of flavor; among
them customers can choose what kind of flavor they prefer to have. Customer can also ask for extra
toppings of any flavor. The best part is that is definitely healthier than any conventional one.

Product mix: Valence

Width: All ice cream
Length: Stick, Cones, Cup in stick, we serve choco-bar, lolly, butter pecan, raspberry, peppermint,
hazelnut, muffin, marshmallow, toffee. And in cone, there are butter choc, midnight delight, blue moon,
raspberry ripple.

Consistency:

All products are ice cream products but with different flavor and taste. Besides closely related with
each other in nature, it can be said that there is a close consistency among the width length and depth
of products.
Features:
We provide low fat and sugar free ice cream that tastes like real ice cream. We serve different
types of flavors in our diet ice cream “Valence”.
Attributes:
“Valence” is delicious, healthy and as well as youthful ice cream.
Augmented:
We give many occasional offers in our ice cream products like Eid/Puja, Ramadan etc. We also
serve premium offers.

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Product Branding:

Good brand names can greatly successive point for a product or a business. We select our Brand name
by the name of our products name which is Valens. Valens refers something about healthy.
People can easily get and understand the meaning of “Valens”. The name of our diet ice cream can stuck
peoples mind to be healthy.

Pricing Strategy (PRICE)

Every company has a pricing strategy. Our ice cream cost a bit high than the other non- sugar
free ice creams so we have set “value based pricing” for our brand. And “Marketing skimming” should
be our pricing strategy.
Price Comparison:
We set the fixed price of ice cream by tk200 than the other ice cream prices which is around
tk250.

MARKETING CHANNEL (PLACE):

Channel Strategy

Through channel strategy we will make sure that the process to reach the products to consumers is
convenient. Consumers always look for convenient ways to reach. If consumers find it difficult, they
might switch to other options. That is why we need to make sure that consumers find it easier to reach
our product

Distribution Options:

For distribution, we will supply our product in retail super stores where consumers can buy our diet ice
cream "Valence”.

Convenience:

 Access: As we are introducing a new product, we will mainly focus on posh areas in Dhaka for
example, Gulshan , Banani , Agrabad , Dhanmondi, to supply our product. This will make easier
for our target consumers to reach our product.

 Search: Our product will be available in prime location. Consumers will find it easier to reach our
product. The sales executive of super shop are also well trained which will be helpful for the
consumers to come across our diet ice cream "Valence” .

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  Possession: We will make sure that our product are always supplied in stores on time before
stocks are run out . This will make available for the consumers every time they go for buying it.

 Transactions: As we are distributing it in stores, we will make sure that the stores have many
options available for paying the price according to their convenience For example, cash, debit
card, credit card etc.

PROMOTION:

Target audience

We have targeted our audiences based on both gender with  contemporary lifestyle. Teenager, students,
men, women who like to live a healthy lifestyle. In this century people are health conscious. This ice-
cream will provide to people who wants to eat ice cream but they are afraid of getting fat. So they can
contemplate this diet ice cream “Valence” and also maintain their health

Communication Objective:

We will try to get the attention of our target audiences. We will keep our promotional activities to urban
areas. First we will inform people about our new product. For example advertising our product in TV.

Then, we will persuade our audiences to like our product through our promotional activities. For
example we will set up stalls in NSU “Hat-Bazaar” and grab “Opinion Leaders” to spread the taste of our
products. So that others may refer us.

After that, we will convince our target audiences to buy our product, make them believe that our
product is good and healthy.

Finally, if the target audiences do not show interest will convince them to have a taste of our product.

Promotion Message:

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We have designed our promotion message keeping our target audiences in mind. The promotion
message of our product is “Eat & lose weight”. We chose this message because “Eat” means everyone
loves to eat. Food makes everyone happy. And our quality of the product is best amongst the best. And
“lose weight” means people who will eat this product won’t gain any weight. Children also can eat this
ice cream. But our product’s taste will be as same as other good quality ice cream and also keeping the
body fit. Audiences will love this product. So this is why we say, “Eat & Lose Weight”.

Media:

Our communication media is a bit of both personal and non-personal.

Among the personal communications we will use the Word of Mouth and Buzz Marketing. So, we can
grab Opinion Leaders to spread the knowledge about our product and attract people to be interested in
our product.

Among the non-personal communications, we will use Leaflets and create a Facebook and others social
page to communicate with the target audiences, and to inform them about our products and company.

Promotion Budget:

As we are a new company, we do not want to do any experiment with our promotional budget. We will
follow the Competitive Parity method, the strategies of our competitors like igloo, polar ice-cream, cold
stone etc. So that, we can avoid promotion wars and represent industry standards.

Promotion Mix Strategy:

We are new in business. So, our promotion mix strategy is not very costly. Our marketing mix strategies
are –

Advertising: For advertising we will use Leaflets to inform people about our company, its products. We
will distribute the Leaflets in the schools and universities of our business area.

Sales Promotion: To promote our sales we will give some discount offers. For example, we will give 5%
discount on the actual price of our product. We will give one free product for purchasing one product.
All these sales promotions will remain only for a certain period of time.

Public Relations: To build relations and communicate with our target audiences we won’t hire any PR.
We will do it by ourselves. Like, the inauguration news of our product, we will post it into our Facebook
page and print Leaflets about it. To inform people about our discount offers or others offer we will do
the same thing. We will also inform Opinion Leaders to spread the news about our offers.

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Personal Selling: For personal selling we will setup stalls in the universities, hospital, shopping mall,
station, for advertisement of diet ice cream. Moreover, we can issue leaflets of diet ice cream to let the
people know about the benefit of the diet ice cream such as weight loss, balanced figure, healthy and
enjoyable life where life becomes very difficult having fast food.

CONCLUSION:

In conclusion, our product diet ice cream "Valence" is for satisfying a specific segment. It is for those
people who are conscious about their health and mainly who have diabetes. That is why we cannot
target much people in it. As our diet ice cream is a new product, we do not even have much competitors
in it. But in future there are chances of more competitors entering the market.

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