P3 Assess the life-cycle stage of the products or services in a company’s portfolio.

P4 Evaluate which appropriate product line management choices are required for individual
products or services.
M2 Provide a coherent and justified evaluation that is supported by material synthesised from a
range of validated sources

Olympic Industries is the leading manufacturer of biscuits in Bangladesh. With some of the
most successful and popular brands of Olympic industries are Energy Plus , nutty and TIP .
Olympic has a wide range of biscuits that cater to every occasion and every individual in
bangladesh. No household, office, or tea stall is complete without a famous Olympic cookie.
In the last 30 years, Olympic has grown to become one of the largest producers , distributors
and marketers of fast-moving consumer goods in Bangladesh. Mainly Olympic is so famous
because of their price and quality of the products. The Olympic industry understands that
consumers have high standards and that their loyalty depends on them. As the market leader in
the biscuit industry, the Olympics industry have only been able to accomplish what they have,
by keeping true to their core values and by concentrating on the consumer.
( Olympic Industries Limited , 2020 )

VALUES OF OLYMPIC INDUSTRIES

What makes Olympic industry the leading manufacturer of buscits in Bangladesh is believing
and maintain their core value . The values of Olympic industries are :
* They maintain their quality by dedicating to make product that are healthy , safe and hygienic
* They believe the best way to be successful is by staying true to their core values.
* They are commited to their hard work and passion .
*They maintain their professionalism by adapting to any situations and are keen to follow best

practices.
*Sustainability, creativity and strategic planning play a crucial role in their business processes.
ENERGY PLUS BISCUIT :
Energy plus biscuit is one of the most famous product of Olympic industries . At the present
energy biscuit is delightfully enjoyed by individuals at teashops , office , households and even
in various events . This biscuit is very unique because of its taste that is slightly milky and
sweet. This biscuit have equal balance of texture which neither too dry nor too buttery. The
ingredients used in the formation of these energy biscuits include are , corn starch, syrup ,
skimmed milk powder, flour , permitted flavors , emulsifying agent , liquid glucose, iodized salt
and butter hydrogenated vegetable . In this assignment we will assess about the product life
cycle of energy plus biscuit and where it stands in life cycle stage .
( Olympic Industries Limited , 2020 )

STANDARD PACK

Packing Material Metalized foil

Number of biscuits per carton 15pcs

Weight Per Packet 90g

Weight per Carton 2.16kg

FAMILY PACK

Packing Material Metalized foil, with tray for family Pack

Number of biscuits Per Carton 42-45pcs

Weight Per Packet 270 gm

Weight Per Carton 1.62

(Source???)
PRODUCT LIFE CYCLE
The life-cycle of the product is the evolution of the product over the four phases of its existence
on the market. The four phases of the life cycle are: introduction, growth , maturity and decline.
Every product has a life cycle and the time spent at each point varies from product to product.
The product life-cycle is an important frame work tool for marketer, managers and designers
alike. This specifies four different phases of the product's life and offers guidelines for the
implementation of strategi1es (???) to make the best use of these phases and to facilitate the
overall performance of the product on the market. According to Philip Kotler The product life
cycle is an attempt to recognize distinct stages in sales history of the product .
(Kotler & Armstrong , 2011 )

CHART : STAGES OF PRODUCT LIFE CYCLE

Figure: Title….(Source of the figure…)

PRODUCT LIFE CYCCLE STAGES OF ENERGY PLUS BISCUIT
Here we will evaluate the life cycle stage of energy plus biscuit and where it stands in market .
So the life cycle stages of energy plus biscuit are given below :

INTRODUCTION:
At this stage , the product is being launched in the market . In the process of launch, marketing
and advertising are done at a high level and the company also spends the most in advertising
and promotion so that the customer get their hands on the product . In this stage the
company is first able to get a sense of how consumers respond to the product if they like it and
how popular it will be. However, this stage is always s a high-spending period for a company
that does not promise that the product will pay for itself through sales. Energy plus biscuit first
launched in Bangladesh at 1996. At that time it was very hard to promote or advertise products
compare to the present days because absence of social media or internet . Also not a lot of
people had televisions in their at the time . Olympic industry advertised energy plus biscuit
through posting banners near small shops , stalls , radio and television ads . But their television
ad was so catchy and delightful and that helped to attract customer awareness . They have
different types of ad for different types of occasion for energy plus biscuit . For example beside
main ad they also has ad for energy plus biscuit celebrating fathers, s day and Eid. They also
advertised their product through radio which helped to attract middle to lower class people .
They also conducted in store demonstration to give consumers a chance to try Olympic Energy
Biscuits and learn about their unique taste. The Olympic biscuit company gives the promotion.
Olympic company gives the shop board with Olympic biscuit brand name or picture. Olympic
industry invested a lot of money for promoting and launching of energy plus biscuit . Soon with
its unique taste and flavor it started to attract customers . ( AdsofBd , 2017 )

Print Banglar Bishwas Olympic Energy Plus 2010

Tv Jibone Aane Goti Olympic Energy Plus 2010
Tv Olympic Chomotkar Olympic Majadar 2010
Tv Banglar Bishwas Olympic Energy Plus TV AD 2010
Radio Shukhe Dukhe_Olympic Energy PlusBiscuit 2010
 Tv Olympic Energy Plus 2010
Press One of the longest running and most 2010
Coverage

Charts : all the ads of energy plus biscuit

Figure: Title….(Source of the figure…)

GROWTH :
At this stage , customers are already taking the product and increasingly purchasing it. The
concept of the product has been proven and is becoming increasingly popular and the sales are
increasing. Other companies are becoming aware of the product and its place in the industry ,
which is starting to attract attention and increasingly attract revenue. The market itself grow as
(Language Problem…) the product is also growing . As the market expands, further competition
also reduces costs in order to make their products affordable. However, sales typically increase
in volume and produce revenue. Marketing at this point is aimed at growing the market share
of the drug. At this stage energy plus started to attract customers quickly due to its lower price
and unique taste . As a result a lot of local company like akij , Nabisco started to get
threatened . So they also lower their biscuits price . Some of the company even tried to copy
energy biscuits taste and marketing strategy and most of them failed to replicate the taste .
Since then energy plus started to grow at an enormous pace. Even now they are still growing
aftercall the biscuit industries in Bangladesh is still growing about 15 percent annually . Since
the last 7 years the sale of Olympic industry has been jumped by 161 percent . Compared to
2017 , sales grew by 14.08% increase in the biscuits and confectionery segment of Olympic
industry . Olympic industry became market leader due to the success of energy plus . Olympic
industry accounted for 22 percent in 2018 and 30 percent in 2019 of the entire market share
by selling biscuits worth Tk 1,200 crore. Many are trying to compete with energy plus biscuit
like Nabisco , fu wang and pran . (Light castle partners , 2019 ) , ( databd.co , 2019 )
Figure: Title….(Source of the figure…)

MATURITY
At this stage , the product reaches maturity, its sales tend to slow down or even stop-signifying
a largely saturated market. At this point, sales can even begin to fall. Prices at this stage may
tend to be competitive, with the signaling margin shrinking as prices begin to fall due to
external pressures such as competition or lower demand. Marketing at this point is aimed at
tackling the competition, and companies will often develop new or modified products to reach
different market segments. So it can be stated that Energy plus biscuit is at maturity stage . The
sale of energy plus is deceasing day by day because the living standard of the people are
increasing as a result they go international biscuit . Another reason why the sale of energy plus
is decreasing because of their taste remains the same till now and the packaging is outdated .
Still the revenue of Olympic biscuit is growing because of energy plus but not like before . The
annual report of Olympic industry from 2011 to 2019 (Is it?? It is showing from 2012-2018!!)

YEAR FINANCIAL REPORT

2012 90.40 %
2013 91.66 %
2014 93.27%
2015 95.10%
2016 96.70%
2017 96.80%
2018 97.08%

CHART : ANNUAL REPORT OF OLYMOIC INDUSTRY BISCUIT (Table number

with appropriate source…)
So from the above chart it can be stated that from the year 2016 to 2018 , biscuit and bakery
segment of Olympic industry is earning less revenue compare to their pervious years . Energy
plus has reached its peaked stage . Plus glucose biscuit from nabisco , all time from pran and
lexus from Danish are big threat to energy plus biscuit . These biscuits are just one step behind
energy plus depending on sales and popularity . It can stated (language issue) that energy
biscuit is stuck at maturity stage at the moment . ( Ebl securities ltd , 2017 ) , (Light castle
partners , 2019 )

DECLINE :
At the declining stage , product sales are fall significantly and consumer behavior changes as
there is less demand for the product. The product of the company is loses market share day by
day and competition tends to make sales worse. Marketing at a declining stage is often minimal
or targeted at already loyal customers, and prices are reduced. Marketing at a declining stage is
often minimal or targeted at already loyal customers and prices are reduced. Eventually, the
product will be withdrawn from the market unless it can be redesigned to remain relevant . As
it has been stated that energy plus biscuit at an maturity stage . But decline for every product is
inevitable and there will a be time that the demand of energy plus biscuit will go down
significantly. As it is know that the biscuit industries in Bangladesh is growing about 15 percent
annually , so its becoming more competitive . According to BABBMA there are around a
hundred large-scale company out there that manufacture about 4,75,000 tons of biscuits
annually which worth almost Tk6,000 crore. And to keep up with the competition, Olympic
industry should introduce new feature or variety in their energy plus biscuit or else they will fall
behind . ( The business standard , 2020 )
Please follow the comments above….You will need to cite where you have put the
thematic/conceptual discussions i.e. the introductory discussions of each stage of the product
life cycle.. probably from the text book or any related materials. Please check some
typological and language problems.

P4 Evaluate which appropriate product line management choices are required for individual
products or services.

M2 Provide a coherent and justified evaluation that is supported by material synthesised from a
range of validated sources

ADAPTAION AND STANDARIZATION

ADAPTATION : Product adaptation is the modification or change of the characteristics of a
product in order to reach new customers or new markets. It may also involve the development
of a new product based on the configuration of the product already in existence. Traditionally,
product adaptation has been used as a way of changing in-house products, but it also includes
taking points from the competitor's product. (Source???)

STANDARIZATION : Product standardization refers to the process of maintaining consistency

and uniformity between the different iterations of a particular good or service available in
different markets. It is a process of marketing a good or a service without any change to it. If a
product is changed at all, it is only superficially changed. Otherwise, the characteristics of the
good or service must remain uniform. It is produced using the same materials and processes,
has the same packaging and is marketed under the same name. (Source???)
APPLYING STANDARDIZATION STRATEGY FOR ENERGY PLUS BISCUIT
As it known that the energy plus biscuit is at maturity stage . It will be hard for energy plus
biscuit to remain at the top position in the future market of Bangladesh. It will still be hard for
energy plus to be relevant even if they introduce new features . Plus Olympic industry doesn’t
need to add new features to energy plus because they have other products like tip and nutty
biscuits which will surpass energy plus in sale soon . So its better if olympic industry export
energy plus in different countries in a large scale . And the best country to export energy plus is
UK , Italy , Germany and France . Because These 4 countries countries have consumed most
biscuit in the world . These countries favor biscuits very much and that’s why its famous there .
Per capita consumption volume of biscuits in these countries in 2015 are given below :
Per capita consumption volume of biscuits in these countries are given below :
CHART : PER CAPITA COSUMPTION OF BUSCIUTS IN KILOGRAMS (statista , 2016 )

Figure: Title….(Source of the figure…)

ANALAZING AND JUSTIFIYING THE STANDARDIZATION STARTEGY

There are a lot of reasons why olpymic industry should export energy plus biscuit in UK, France ,
Italy and Germany . First the consumption rate of biscuits in these countries are quite high.
According to CAOBISCO reports, the consumption of biscuits in the EU was 3,9113,000 tons in
2009 and increased to 4,120,000 tons in 2010. Biscuit consumption dropped down to 4 million
tons between 2011 and 2012 and increased again to 4,128,000 tons in 2013. The quantity of
biscuits eaten in 2012 was 4,084,000 tons. This will help Olympic industry to earn a lot profit if

the marketing strategy is implemented properly . Olympic industry has a good financial position
in the market and they do export some of the ingredients of biscuit in some European
countries. So they already know the distribution route for exporting energy plus in these
countries. It is to believe that energy plus will do really good in those countries because of the
taste , texture and quality . It is shown in the data that the most sold biscuit in UK is Milkvite
digestive and milkvite chocolate digestive . Both of them have milk as base ingredient like
energy plus . Through personal survey it is to be known that the energy plus biscuit and
milkvite digestive has the same taste more or less . (What type of personal survey??) Countries
like uk , Germany , us Italy , france imports a lot of biscuits annually from china , india , Australia
etc . The leading importer of biscuits is the US, with an approximate import of USD 767 million
and an import share of 14.1%. The US is followed by France with 9.7 per cent, Germany with 6.8
per cent, the United Kingdom with 5.8 per cent and Belgium with 4.8 per cent. Global biscuit
imports rose by 18 percent to about USD 6.8 billion in 2011and the leading markets were the
Uk, , Germany ,france , the United states and Belgium. Global biscuit imports rose by 18 percent
to about USD 6.8 billion in 2011, and the leading markets were the france, usa, uk , Germany
and Italy . The total import share of these 5 countries is was 38% in 2011. The total import
share of these 5 countries was 38% in 2011. The manufacturing cost of Energy plus is really ???,
so it is possible for olympic industry to export it in those countries in less price . Normally any
biscuits price in those countries range from 4$ to 12$ . Through a lot of calculation it is shown
that price of energy plus biscuit will be 2 to 3 dollar depending on the demands in those
countries. (Can you bit clearly explain how???) Even if the export duty rate is 65% percent still it
could sold in a very cheap price in those countries. But to sell to those countries Olympic
industries have to change the packaging of the energy plus biscuit . Because the packaging of
the current energy plus biscuit is outdated and seems cheap . These are slight change that has
to make by olympic industry . From the above discussion it is to be stated that implementing
standardization strategy for energy plus biscuit is really a good idea . If olympic industry
successfully implement all the marketing strategy then they would easily generate millions of
dollars annually . (Yougov , 2018) , (magazinebbm , 2020 ) (I think here you need to explain
more why you would like to apply standardization strategy….even though your discussion in
generally providing a trace of standardization strategy it is better to further link up your
discussion with the concept of standardization strategy to ensure clear justification).

MARKET TESTING
Market testing is a process for assessing the viability of a new product or service and for
identifying consumer needs and preferences through organized data collection and analysis
prior to launch. There are several ways in which Olympic industry can perform market research.
Not all consumer research approaches are suitable for all marketing circumstances.
Appropriation of the methodology is necessary for the efficient conduct of market research and
the availability of the knowledge needed to fulfill the purpose. To efficiently conduct market
testing, olympic industry should consider the time, cost, accuracy, validity and response rate
correlating to the purpose. Market testingof energy plus biscuit can be done in different ways
and they are given below :

* Assembling an international sales teams is a great way to test the market . Building of an
international sales team can be done these days by collaborations, alliances and direct
recruiting. To do that first olympic industry has to create a comprehensive list of companies
in the same sector then visit their websites and finally reacheach out to their executive teams.
In addition to building partnerships, Olympic industry can consider collaboration
opportunities here. This will also help to know the market situation of that country . But the
most important part is that collaboration will also Olympic industry to expand their network in

the foreign country .

* Selling over internet is also a good idea . This will help the the international customers to
find the website of the company and purchase it just like local customers already do. This
method is bit tricky because company has to learn about foreign taxes, duties and customs
laws for shipping overseas . The customers could pay through eBay's PayPal , transfer money
 to the bank for the product .
* Field trials could be arrange by international sales person for conducting detailed information

about the offered products where people would be able to use and test the products for its
strength. They will also be able to compare with energy plus with other brands. The feedback
would be collected in the form of a survey questionnaire which will be analyzed later.

PROMOTION OF ENERGY PLUS

Its not easy to promote energy plus in the international market without knowing the culture ,
bhaviour , taste of that particular country . But Olympic industry could take different ways to
promote energy plus in international market . Some of the ways are given below :
* It is really helpful to hire an influencer so that he or she can create awareness of the product
among the customers . Based on the financial position of olympic industry , they are more
than capable to hire international influencer.
* It is better to establish partnership with other local company of those countries so that they
could help Olympic industry to promote energy plus biscuit .
* Olympic industry should take advantage of both online and offline platform . Countries like UK

, France still read newspapers daily . So advertising through newspaper will help to attract
middle age to older customers . The most important ways to advertise energy plus is to
invest in sponsored social media ad campaigns or run banner ads on youtube , facebook ,
Instagram etc . This will helps to create awareness among the younger generation.

PRODUCT LAUNCHING
Launching energy plus in the in the international market is a big deal for Olympic industry . For
the launch it is necessary to hire food reviewer , product reviewer and a good media channel .
For the launch olympic industry should collab with a famous online platform review site, name
is product hunt . Product hunt is a website devoted to finding and thinking about the new
items. But more than that, it's an active community of product-focused people who will try out
what energy plus biscuit is all about and give their insightful feedback. After the positive
feedback and successful launching , olympic industry should consider exporting energy plus in
large amount to UK , france Italy and Germany .

From all the above assessment it is known that energy plus biscuit is stuck in the maturity stage
for a certain amount of time and this product will be in decline in the future . If Olympic
industry still want to earn profit from this certain product then they should implement the
standardization strategy to expand the market . This will surely help them to earn more profit
and mainly they will get huge recognition from the international market . And maybe one day
rather than declining , energy plus could be the number one biscuit in the world .

(This whole discussion seems to be related with P5).

An overall comment as per in text citation….it seems they are cited but as I cannot see your
reference list as it is not included in this draft I could not see the sources that you have used
in your assignment…Just an overall comment keep in mind you need to use validated sources
particularly when you are attempting for M..I believe you are using authentic sources.
Secondly, just to make sure…please ensure that you are paraphrasing as the final submission
will be done via turitin. You may start P5.