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MKT201 Report
MKT201 Report
Since we have finally come up with a new version of the product, we will be going through a
few steps to come up with the strategies to get this product in the market and make it sell.
The new product with a different flavour, BD Food Wood apple pickle will satisfy our
customers with a new taste. We will make the product with the best quality and good
packaging which will attract customers and will also keep the product safe from getting
damaged.
Coverage strategy: Its evaluation and analysis of the different markets and places that decide
how much of the product should a business cover with its product. While we are doing this,
the business has to keep different economic factors like the purchasing power of the
customers and cultural factors.
Selective distribution strategy: This type of distribution where a product is not available
everywhere but few selective places and areas. As we are launching our new flavour of
pickle, we want to see how customers accept the new product. That’s why we want to
distribute the product in some places and areas. At first, we want to distribute our product in
the city areas like super shops (Shwapno, agora, Meena Bazar and some e-commerce
websites) and convenience stores. If we get positive reviews from our customers then we
want to increase the distribution network of our product. And If we get negative reviews we
want to hear from our customers what type of improvements can we do to our new product
and after that we want to come back strongly in the market again. There are some advantages
of selective distributions: 1. Lower cost of distribution and maintenance 2) Greater control
and easier to manage 3) More effective marketing 4) Easier to get feedback.
Conflict: BD Food wants to follow VMS (Vertical Marketing System) to distribute the new
product. A vertical marketing system is when producers, wholesalers and retailers work in
unison to meet their customers' needs. It allows one company to have control over the entire
process of producing and selling a product.
1. Social media Marketing: Nowadays people spend more time on social media we can the
ta full advantage of it. If we give ads on popular social media platforms like Facebook,
Instagram, and YouTube customers can easily know about our product. And It is effective
and very affordable compared to other platforms, and it going to appear in the newsfeed
like a sponsored post.
2. Brand awareness: Brand awareness is a concept that shows how familiar the product is
to the customers or how much customers know about the product. It’s a goal to make the
product memorable to the customers as much as possible. And if we focus on product
packaging it will also influence our customers to try our product. Attractive packaging
will give a new look to our product from other competitors.
3. Sales Promotion: We can give exciting discounts on our new product and set bundle
offers also but 2 get 1 free to increase our sales.
4. Free trial: Free trial or demo is a great way for customers to get a taste of the product and
get a fresh idea about the product. If a customer like the taste then they can buy the
product.