University of Liberal Arts Bangladesh

Assignment: Team Report

Course Code: BUS 206

Course Title: Principles of Marketing

Businesses regularly look for new ways to break into the consumer market to increase sales and
revenue. Consumers are drawn to cutting-edge products that simplify their lives and meet their
needs. Innovative products put any business one step ahead of its competitors. Any unique
product can significantly boost a company's sales. A business can grow significantly with any
innovative product. For instance, Tesla developed the "Electric Car," an innovative product that
brings in billions of dollars annually. This term paper will discuss such kind of innovative
product called "DrinkMate."
“DrinkMate is a Home Carbonation System that can carbonate cold drinks like water, juices, iced
tea or coffee, energy drinks, wine, cocktails, and even flat soda. DrinkMate makes it simple to
make fizzy drinks with the taste of your choice” – (DrinkMate). Costs for DrinkMate begin at
$110.99.
[Shateel Arafat (113014038)]
Bangladesh has a tropical climate that is mostly hot and humid. During summer time people
drink a lot of carbonated soft drinks, smoothies and juices. We intend to launch DrinkMate in
Bangladesh and open for business there. First of all, we need to do a proper market research of
our product. We will assess whether we can address consumers' needs. Can our product solve
any problem? Making carbonated beverages at home allows us to solve a problem with our
product DrinkMate. We need to look for and interact with potential customers, figure out what
they need, build high-quality market offers, determine their prices, market them, and store and
distribute them. To identify consumer needs, we will do market research and speak with
customers. Then, either directly or through marketing intermediaries, we will generate and trade
market offerings, announcements, and other marketing content with customers. While doing
market research, we will analyze:
 Discover what our client wants.
 Learn about the current offerings of goods and services.
 Find out how happy our clients are with the existing goods or services in comparison to
those of the competition.
 Develop a long-term relationship with our clients.
[Shateel Arafat (113014038)]
We will build our marketing strategy with two questions in our mind. “Which customers will we
serve (segmentation and targeting)? and how will we create value for them (differentiation and
positioning)?” The 4 Ps of marketing “Product, Price, Promotion, and Place” will then be used
by our company to build a marketing program that provides the desired value to the target
audience. We need to choose which consumers we will target and how we will add value to them
when we have a thorough understanding of our consumers and the market. To target a more
specific audience, we will segment our market. Commercial restaurants, juice bars, and home
users will make up the majority of our customers. Later we will try to create value propositions
to the customer. Our product can make carbonated drinks. We will give these messages to our
customer.
 Add different taste to your regular drinks, juices by making it fizzy with our DrinkMate.
 Every carbonated plastic bottle you buy adds waste to our environment. Why not buy
DrinkMate and make unlimited carbonated drinks at home or restaurant? Be environment
friendly.
[Shateel Arafat (113014038)]
To gather data on the marketing environment, we will perform marketing research and marketing
intelligence. We will adapt our tactics to take advantage of emerging market possibilities and
challenges by carefully examining the marketing environment including microenvironment and
macroenvironment.
On the other hand, to market, sell, and distribute our products to end customers, we shall utilize
marketing intermediaries. We can learn more about the market by doing research on the
competitors. To accomplish our goals, we will employ a variety of publics, including “the
financial public, media public, government public, citizen-action public, and local public”.
Considering the demographic and economic environment, we intend to launch our product in
Dhaka city. Our product, which costs about $110.99, is intended for usage in homes as well as in
juice bars and restaurants.
[Shateel Arafat (113014038)]
Customer insights are interpretations taken from a big base of customers who have used a
particular product to observe trends in human behavior so that they can increase the effectiveness
of a product or service and increase sell as well as the quality of the product .Taking in big
numbers of raw data from different companies that sell beverages and using different algorithms
to study them companies have found that most of the population who drink carbonated beverages
is because of the refreshment that they get after drinking it so thus the idea of a product came up
that changes any drink into a carbonated refreshment. With zero induced sugar and by additive
flavors any drink even water can turn into a very flavorful drink to have and it has dissolved
nutrients as well.
[Shafil Al -Ekram (193014057)]
After analyzing the market and publishing the product now their next strategy includes
publishing it in front of the public eye. By advertising it online and in places like the gym and
sports places where their target audiences are concentrated more. Not only that a lot of the older
populations are also interested in having a carbonated beverage. With a sleek design the product
is even more attractive on display. With a very much affordable pricing on each of the products
so that the mass population can get access to a healthier lifestyle.
[Shafil Al -Ekram (193014057)]
Nowadays in the modern times people are more health conscious then ever so they look forward
to consuming healthier products and this is the correct timing to launch a product which tastes
exactly like a fizzy drink but actually is carbonated water with nutrients dissolved in it. And on a
demo graphical point of view they target the young consumers as these are the people in the
population who are in more need of it as their lifestyle is very active. As well as people with
diabetes can have a drink which is safe for them without sugar and added preservatives .So more
or less the whole of the population is their targeted consumers as everyone is interested in having
a fizzy drink after analyzing the market and publishing the product now their next strategy
includes publishing it in front of the public eye. By advertising it online and in places like the
gym and sports places where their target audiences are concentrated more.
[Shafil Al -Ekram (193014057)]
“The Spritzer also allows sparkle to be added back to opened beverages that have lost their fizz.”
- (DrinkMate). With a sleek design the product is even more attractive on display. drink mate is
offering replacement policies if anything happens to the product after purchase people can just
show the receipt and get a new product with a warranty of 2 years. For exchanges due to product
defects, drink mate covers the return shipping and related fees. They also have multiple offers
like buy 1 get 1 and good outlook as well which makes the consumers more intrigued to get the
product after consumers started buying this products their customer service has been open for all
to write their point of view and experience on the products as a review on their website which
makes it more susceptible for potential customers to gain information on the basis of the quality
of the product.They also give gift cards every now and then after purchasing their products.To
capture customer loyalty they also send messages on every of their promos and on new product
launches and on occasions like Christmas they give off sale on big discounts
[Shafil Al -Ekram (193014057)]
To promote the product “Drinkmate” we as a team full of Marketeers, can set campaigns on
various festival sights throughout Bangladesh. The fist stall can be on the Trade Fair, which is the
largest trade fair in Bangladesh. Generally known to be happening at the first month of the year
on January. We can as a team open a small stall to advertise our product with living examples of
us making Carbonated Drinks with all the beverages including Juice, Water, Coffee, cold-drinks
and energy drinks, wine etc.
As a team we will also open several stalls in and outside Dhaka city after segmenting the
overall market. There are five major elements of promotion. These are as follows :

1. “Publicity”
2. “Advertising”
3. “Public Relations”
4. “Sales promotion”
5. “Personal Selling”
Sultanul Arefin
171011069
We will focus on these five major points for making the promotion of our product attractive,
which will leave emotional marks on our customer’s heart. We will also promote and advertise
our product on Televisions and social media platforms i.e. facebook, instagram and Newspapers
and Radio etc. The very other strategy we can implement is Personal Selling. Our employees can
operate in field on houses by representing and showing our product’s value and how Drinkmate
can literally carbonate any drinking material.
Public Relations : We will focus not only with our consumers, but also the market around it
which is showing interests with our product. Consumers like to try and buy before they buy
anything. That is why we have came up with the idea of stalls for showing and illustrating the
product well also with the Public Relations to focus on the mass market.
Sales Promotion: We will also promote the sales of our product by discounts and gifts. We will
also have exchange offers with our products for integrating our consumers.
The steps we will take to measure and manage return on Marketing Investments are as follows:
ROMI: Return on Marketing Investments is the method we will be using to get the proper
calculated result of returns by deducting the Marketing costs from Sales growth and diving it
with the marketing cost. By using these method. We can easily calculate the return we want to
have as revenue with our product Drinkmate.
 Sultanul Arefin
171011069
To create a distribution channel all over Bangladesh. We will have to decide our delivery
method. We can take renowned distributors services as Pathao and SA Courier Service. Pathao is
well known in our country for delivering products, foods and riding services. Concerns like
Pathao and SA courier services are very well known so they will never let us down. In the year
2023, we will buy mini delivery trucks for our products delivery. Till then we have to rely on
Pathao and SA courier services which is never to let us down for being widely known all over
Bangladesh. By taking their services for distributing, we can reach all throughout the country
without any interruptions.
Sultanul Arefin
171011069

It's more challenging to position your product than to actually make it. In the end, how you
present your product will determine what you manufacture and sell. Your decision-making,
marketing efforts, and sales strategy are all impacted by the placement of your product.
Step 01: Learn why your customers utilize your product
- If you've achieved product/market fit, this is a terrific approach to comprehend your
target market. Simply put, you should inquire about your clients' answers to the following
three questions to learn more about them:
1.Would you be unhappy, moderately unhappy, or not at all disappointed if "Your
Product Name" did not exist tomorrow? Why?
2.What main advantage does "Your Product Name" provide you with?
3.What product will you begin utilizing instead?
Step 02: Determine the market you're in and the persona you're after.
- Your target market was probably clearly evident to you as you were developing the
product. The information from your first step should ideally allow you to determine
which market you are in.
Step 03: Measure the market's maturity in
- How well-developed your market is will have a significant impact on your product's
messaging. You'll need to convince them of the importance of your presence.
Step 04: Identify People's Mental States
- There are various things someone takes into account before deciding whether or not to
use your items. The following can be used to sum up this:
1.Pull
 2.Push
3.Anxiety
4. And Habit
Step 5: Completing the Task
- Based on the data presented above, you should now choose a market frame of reference
that clearly communicates your value to the market segments that are most concerned
about it.
1.You might be unaware of how challenging this is and how certain things are
impossible for your rivals to do.
2. How your consumers are harmed by the lack of these features.
3. What advantages these features will provide for your consumers.
Lastly, By concentrating on the market and its maturity, you can create a distinctive narrative,
give your clients your full attention, and set yourself apart.
[Shumiya Kabir (172014047)]
To find out what your competitors are not doing, you must first determine what they are doing.
Take a look at their website, Google My Business listing, and social media pages. Investigate the
following issues to get the answers.
1.Describe Your Differences: Make sure your website not only describes your goods and
services in detail, but also explains how you differ from your competitor. .
2.Deliver Exceptional Service: The best way to market your company is to provide excellent
customer service. Even while it may seem obvious, not all companies prioritize providing
excellent customer service.
3.Focus on the Positive Comments and Ratings: Reviews and star ratings are crucial for
differentiating yourself, and we can't stress this point enough. To attract a large audience, feature
good evaluations on your website, local directory, and social media sites.
4.Engage with Your Clients:
1.Post on social media and personally reply to feedback, queries, and complaints in
particular.
2.Whatever it says, reply to EVERY single review that is available. Thank every
consumer for their feedback and make an offer to fix any problems that are brought up in
the negative remarks.
5. Contribute to a local cause: Giving back to your community makes a big difference in how
potential consumers perceive you. Work with a local charity or group that needs help by finding
them.
6. Provide specials and discounts: Using a discount to entice customers is a standard marketing
tactic. There's a good chance that your competitors are already doing this, but you have the
opportunity to create a better offer that will appeal to more customers.
[Shumiya Kabir (172014047)]

Reference:
Annett, J. (n.d.). The Best Soda Makers for At-Home Fizzing. Retrieved December 1, 2022, from
WSJ website: https://www.wsj.com/articles/best-soda-makers-2022-11645047772
Kotler, Philip. Principles of Marketing. 17th ed., Hoboken, Pearson Higher Education, 2019.
Baines, Paul, et al. Marketing. Oxford University Press, 2019.