BANGABANDHU SHEIKH MUJIBUR

RAHMAN SCIENCE AND TECHNOLOGY

UNIVERSITY GOPALGANJ

Seminar On
Product & Brand Management
Course NO: MKT400
Course Title: Product & Brand Management

Submit Date: August 10, 2023

Submitted by Supervised by
Team GLADIATORS Asif Khaled
4th Year, 1st semester Lecturer,
Session: 2018- 2019 Department of Marketing.
Department of Marketing.
 Name & ID No of Team Gladiators
Name ID
Md Fahim Shariar Abir 18MKT001
Md. Moshiur Rahman 18MKT031
Rafiqul Islam Rabby 18MKT051
Mahmudul Hasan Ayan 18MKT052
Tamal Saha 18MKT053
Mst Sharmin Khatun 18MKT054
Mukabbir Ahmed Tamim 18MKT064
Humayun Kabir 18MKT067
Md Mehedi Hasan 18MKT069
Sheikh Faysal 17MKT015
Md. Ashik Elahi Nirob 17MKT101
 Latter of Submission
16th September, 2023
To,
Asif Khaled
Lecturer,
The Department of Marketing.
Bangabandhu Sheikh Mujibur Rahman Science and Technology University,
Gopalganj-8100.
Subject: Submission of a report on “Product & Brand Management”
Dear Sir,
It is our great pleasure to submit the report titled “NAGAD’s Product & Brand Management”
under the course “Product & Brand Management” that is assigned by you to us as a partial
requirement of the BBA course. We are thankful to the department for allowing us the opportunity
to do the formal report on this topic. The paper has been completed with the knowledge that we
have gathered from the course “Product & Brand Management”. We are thankful to all those
persons who provided us with important information and gave us valuable advice.

Finally, we are truly grateful to you for giving us this nice opportunity to work on this assignment,
which we have considered as a great chance for us to develop our Marketing concepts. Although
we have tried our best, certain mistakes and inconveniences may reside and for this, we seek
pardon and hope the department will accept our apologies.
Yours obediently,
Team GLADIATORS
Session: 2018-2019,
Year-4th, Semester-1st,
Department of Marketing,
Bangabandhu Sheikh Mujibur Rahman Science & Technology University Gopalganj.
Table of Contents
Introduction: .................................................................................................................................... 7

Advantages and disadvantage of Nagad: ........................................................................................ 8

Advantages of Nagad: ................................................................................................................. 8

Disadvantages of Nagad: ............................................................................................................ 9

Differentiate between Nagad and Bkash: ..................................................................................... 10

How to open Nagad Account ........................................................................................................ 11

Services of Nagad & it's differentiation from other MFs: ............................................................ 12

Challenges that “NAGAD” brand faces during building up:........................................................ 14

Ansoff Matrix: .............................................................................................................................. 15

Understanding the Ansoff: ........................................................................................................ 15

BCG Matrix: ................................................................................................................................. 17

Nagad life cycle ............................................................................................................................ 20

Brand position of Nagad: .............................................................................................................. 21

SWOT Analysis ............................................................................................................................ 22

Consumer based brand equity ....................................................................................................... 24

Nagad, the fastest-growing MFS .............................................................................................. 25

Achievement of Nagad ................................................................................................................. 25

Brand Strategy for Nagad\ ............................................................................................................ 26

Brand Value Chain .................................................................................................................... 26

Designing .................................................................................................................................. 26

Brand Pillars.................................................................................................................................. 28

Innovation: Continuous Technological Advancement for Seamless Transactions ................... 28

Convenience: Providing Users with Easy and Secure Financial Solutions .............................. 28

Empowerment: Enabling Financial Inclusion and Growth for Everyone ................................. 28

Implementing Brand Marketing Programs ................................................................................... 29

Digital Advertising Campaigns: ............................................................................................... 29

Educational Webinars and Workshops: .................................................................................... 30

Community Engagement Initiatives: ........................................................................................ 30

User-Generated Content Campaigns: ....................................................................................... 30

Strategic Partnerships: .............................................................................................................. 30

Referral and Loyalty Programs: ................................................................................................ 31

Content Marketing and Blogging: ............................................................................................ 31

Social Responsibility Campaigns: ............................................................................................ 31

In-App Promotions and Notifications: ...................................................................................... 31

Customer Feedback and Improvement: .................................................................................... 32

Conclusion .................................................................................................................................... 33
 Report On NAGAD’s Product & Brand Management

Introduction:
Nagad Ltd. is the second largest digital financial service of Bangladesh currently operating under
the authority of Bangladesh Post Office. It's an attached Department of the ministry of Post and
Telecommunication (Bangladesh). It is the new version of the previously introduced postal cash
card and electronic money transfer systems (EMTS)of Bangladesh post office. In 2017" Third
wave Technology Ltd" makes an agreement with Bangladesh post office (BPO)for mobile
financial service under BPO. Though Bangladesh post office has no ownership of third wave
technology ltd. there was profit sharing between them. Nagad started its journey on March 26th
,2019 with a mission to provide a comprehensive digital and ever-evolving financial service to the
people of Bangladesh and ever since has made ground-breaking achievements and won many
awards. In June 2021, BPO declared it will own 51% share, while the remaining 49% share will
be held by Nagad ltd.
Nagad started its journey with demanding services like cash in, cash out, send money, 50% bonus
and mobile recharge. More popular services like bills payment, e-commerce payment gateway is
available. From the very beginning, Nagad has had its own mobile phone app for customers and
partners. The company’s current customer base is more than 8 crores and has a record of being
responsible for BDT 700 crores transactions in one day. The biggest innovation of Nagad limited
is the introduction of digital KYC service which enabled customers to open Nagad account simply
by dialing *167#. Bangladeshi cricket star Tamim Iqbal is the brand ambassador of Nagad ltd. To
encourage Digital purchase and nature an overall digital culture, Nagad has recently adopted a
tagline -"everything is possible with NAGAD. Announcing its determination to provide all types
of digital services of everyday life from its platform. 2023, Nagad launches new campaign under
the slogan of "দেশি নগদে দেশি লাভ" to attract more customers in this year, the company was

named the gold winner in the ninth edition of the Asia Pacific Stevie Award in the category of
“Excellence in Innovation in Financial Industries’. Previously the company was also mentioned as
‘The World’s Fastest Growing MFS’. Additionally, in the company’s only 3 years of journey, it
has won multiple awards like Digital Marketing Award in 2021, Fintech Impact Award in
November 2021.

Advantages and disadvantage of Nagad:

Advantages of Nagad:
Convenience: There is no need to carry cash. Here your mobile phone becomes your wallet. If you
use Nagad in your mobile phone Then it provides this opportunity. It provides easy platform to the
users for different financial transactions. Users can operate financial transactions anytime,
anywhere using their mobile phone. No need to visit physical bank branches. Nagad offers a
convenient way for users to perform various financial transactions such as sending money, paying
bills, and making purchases without the need for physical cash. Users can access Nagad services
through their mobile phones, making it easy and hassle-free.

Accessibility: Nagad is available to both urban and rural populations and overcoming the financial
gap. Nagad provides the opportunity for those who does not have access to mobile banking
services. Nagad's mobile-based platform provides accessibility to financial services for individuals
in remote or underserved areas where traditional banking infrastructure may be limited. This
inclusivity helps bring financial services to a wider population.

Digital economy growth: Since, more people adopt Nagad then it contributes to the digital
economy growth. It facilitates online payment ,e-commerce transaction etc. Nagad contributes to
the growth of the digital economy by promoting cashless transactions. It enables users to make
digital payments, which can lead to increased transparency, efficiency, and accountability in
financial transactions, fostering economic growth.

Reducing Cash Dependency: One of Nagad's primary advantages is its role in reducing cash
dependency. By encouraging users to conduct transactions electronically, Nagad helps decrease
the circulation of physical currency, which can lead to reduced security risks and increased
financial stability.

Disadvantages of Nagad:
Network Connectivity Issues: Nagad relies on mobile networks and internet connectivity for users
to access its services. In areas with poor network coverage or during network outages, users may
face difficulties in performing transactions or accessing their accounts. This can be particularly
problematic in remote or rural areas with inconsistent network infrastructure.

Limited Acceptance: Nagad may not be accepted as a payment method everywhere, especially in
regions where digital payment adoption is still low. Users may encounter limitations in finding
merchants or service providers that accept Nagad payments, which could force them to rely on
cash for certain transactions.

Limited Financial Products: Nagad primarily focuses on basic financial services such as money
transfers and bill payments. It may not offer the same range of financial products and investment
options as traditional banks, limiting users' opportunities for savings and investment.
Lack of Physical Presence: Unlike traditional banks with physical branches, Nagad is a digital-
only service. This may be a disadvantage for users who prefer face-to-face interactions with bank
staff or need assistance with complex financial matters that require in-person support.

Differentiate between Nagad and Bkash:

If you value brand recognition, a large agent network, and a history of innovation, Bkash may be
the right choice for you. On the other hand, if you prefer a more user-friendly and simplified
interface, Nagad could be a better option for you.

Ownership and Origin: Nagad: Nagad is operated by the Bangladesh Post Office, which is a
government-owned entity. Bkash: Bkash is a private company, jointly owned by BRAC Bank,
International Finance Corporation (IFC).

Fees and Charges: Nagad and bKash have different fee structures for their services, and these can
vary depending on the type and amount of transaction. Users should check the specific charges for
the services they intend to use.

User Experience: Nagad and bKash have their own mobile apps and USSD codes for transactions,
and the user interfaces may differ in terms of usability and features.
How to open Nagad Account
Nagad is a risk-free and trusted mobile banking service. Looking at the television screen,
Billboards, entering any online website, Nagad ads can be seen. Seeing The Ads, we want to know
how to Create a Nagad account. Nagad Mobile Banking account Create is very easy. You can
Create a Nagad account at home with your National ID card. Today I will discuss 3 easy ways to
Create a Nagad account. With These 3 ways, you can Create a new Nagad Mobile Banking account
within minutes.

let’s see how to Create a Nagad account Easily; With Nagad apps, Dial the USSD code, Nagad
Uddogta point or customer service point.

Create Nagad Account with Nagad apps: You can transition money through your mobile phone.
In addition to opening an account with documents from a Customer care or agent point, you can
also Create your own account at home.

Download Nagad Apps: Take your Android Mobile Phone and Go to Google Play store then
Search Nagad Apps. Click the Install Option and wait some time for the installation.

Nagad Apps Registration: Open your Nagad Apps and click Registration Option. Press your
Mobile Number then click Next Option.

Select Operator: Select your Won Mobile Operator (Example: Grameenphone, Robi, Banglalink,
Airtel, etc) and click the next option.

KYC Document Submit: KYC option is the most critical part of Nagad Account creation. First,
click the front part camera option and capture your National ID card Front side, secondly, click
the 2nd Option and capture your ID Card Back part then submit.

Photo Submit: When taking the photo, make sure light is around you, so your face is visible. Blink
a few times (close and open your eyes) while looking straight at the camera. If the photo is taken
successfully, proceed to the next step.

Setup Your Pin Number: Now you will be asked to setup the initial PIN, you have to setup the
four-digit PIN number of your choice. After that, if you click next, it will ask you to enter the
confirmation pin, and you will enter the same pin again. After entering the PIN click next step.
OTP Verification: An OTP will be sent to your account verification from Nagad. You have to fill
in the code correctly in the OTP point.

Now All of the steps are completed filled your Nagad Account is created Successfully.

Create Nagad Account with USSD Code: If you don’t have a smartphone, you can easily create a
Nagad account from the small button phone. Any kind of mobile SIM user (Grameenphone, Robi,
Airtel, Teletalk, Banglalink) just dial *167# and set the pin code of their account, the Nagad
account will be activated. Then you can use your Nagad Account and Make any transaction.

Create Nagad Account With Uddogta point: After going to Nagad Uddogta point you will be given
a form, after filling out that form Nagad Uddogta will open your Nagad Mobile Banking account.
After that, your Nagad account will be activated only after cashing 50 BDT.

For opening an account at Nagad Uddogta Points: Your National ID card

Two copies of passport-size photographs The SIM with which to open the account and Your
mobile phone.

Services of Nagad & it's differentiation from other MFs:

Nagad was a digital financial service provider in Bangladesh. They offered a range of services,
including:

▪ Mobile Money Transfer: Nagad allowed users to send and receive money securely using
their mobile phones.
▪ Cash In and Cash Out: Users could deposit and withdraw cash from their Nagad accounts
through authorized agents and Nagad Points.
▪ Utility Bill Payment: Nagad provided a platform for users to pay various utility bills, such
as electricity, water, and gas bills.
▪ Merchant Payments: Users could make payments at partner merchants and online retailers
using their Nagad accounts.
▪ Micro-insurance: Nagad offers micro-insurance products, such as life insurance and health
insurance.
 ▪ International Remittance: Nagad offered international remittance services to receive
money from abroad.
▪ Mobile Top-Up: Users could top up their mobile phone balances using Nagad. Savings
Account: Nagad offered a savings account feature with the ability to earn interest on the
deposited amount.
▪ E-commerce Payments: Users could make payments for online shopping on e-commerce
platforms that accepted Nagad as a payment method.
▪ Loans: Nagad offers a variety of loans, including personal loans, business loans, and
education loans. Factors of Nagad which can differentiate other MFS operators.

Nagad, a mobile financial service (MFS) operator in Bangladesh, may have several factors that
differentiate it from other MFS operators. Here are some potential differentiating factors for
Nagad:

▪ Agent Network: The size and reach of Nagad's agent network could be a differentiator. A
widespread network of agents can make it more convenient for customers to access Nagad's
services.
▪ Integration with Government Services: Nagad may have unique integrations with
government services, such as disbursement of government subsidies or payments. This
could set it apart from other MFS providers.
▪ Partnerships: Exclusive partnerships with businesses, e-commerce platforms, or financial
institutions can be a significant differentiator. These partnerships can offer users more
options for transactions and financial services.
▪ Service Offerings: Nagad may offer a broader range of financial services beyond basic
mobile payments, such as savings accounts, insurance products, or investment options.
▪ Customer Support: The quality and availability of customer support can differentiate MFS
providers. Quick and responsive customer service can enhance the user experience.
▪ User Experience: A user-friendly and intuitive mobile app or USSD interface can be a
competitive advantage. Nagad might focus on providing a seamless and easy-to-use
platform.
 ▪ Security and Trust: Trust and security are paramount in the financial services industry. Any
unique security features or initiatives to build trust with customers can be a differentiator.
▪ Innovation: Nagad's approach to adopting new technologies or introducing innovative
features could distinguish it from competitors.

Challenges that “NAGAD” brand faces during building up:

Like every MFs "Nagad" was also faced some challenges while they are trying to building their
up. Those several challenges are:

Savvy Customer: Today's customers are well-informed and demand transparency. Meeting their
expectations for service, quality, reliability, and ethical practices was a constant challenge.

Data Privacy: Handling sensitive user data requires strict adherence to data protection laws and
user consent. Ensuring data security and privacy compliance is paramount.

Scalability: As Nagad grows, scaling the infrastructure to accommodate a larger user base while
maintaining performance and reliability becomes a significant challenge.

User Education and Competition: Users need to understand the value proposition of Naga
compared to competitors. Effective education and differentiating from the competition are ongoing
challenges.

Partnerships: Collaborating with other businesses or platforms can be complex and competitive.
Establishing mutually beneficial partnerships requires strategic planning and negotiation.

Media Fragmentation: The diversity of media channels and platforms makes it challenging to reach
the target audience effectively. Adapting content and strategies for different media outlets is
necessary.

Consistency in Maintenance: Ensuring that Nagad consistently delivers quality service and content
over time is an ongoing challenge. Regular updates, bug fixes, and content updates are essential.

Increased Cost: Expanding and improving Nagad can be costly. Managing expenses while
continuing to innovate is a balancing act.

Loyal Customer: Retaining loyal customers in a competitive market is a challenge. Providing value
and incentives to keep users engaged and loyal is crucial.
Ansoff Matrix:
The Ansoff Matrix, often called the Product/Market Expansion Grid, is a two-by-two framework
used by management teams and the analyst community to help plan and evaluate growth initiatives.
In particular, the tool helps stakeholders conceptualize the level of risk associated with different
growth strategies.The matrix was developed by applied mathematician and business manager H.
Igor Ansoff and was published in the Harvard Business Review in 1957. The Ansoff Matrix is
often used in conjunction with other business and industry analysis tools, such as the PESTEL,
SWOT, and Porter’s 5 Forces frameworks, to support more robust assessments of drivers of
business growth.

Understanding the Ansoff:

Matrix The Ansoff Matrix is a fundamental framework taught by business schools worldwide. It
is a simple and intuitive way to visualize the levers a management team can pull when considering
growth opportunities. It features Products on the X-axis and Markets on the Y-axis. The concept
of markets within the Ansoff framework can mean different things. For example, it could be a
jurisdiction or geography (i.e., the North American market); it could also mean customer segments
(i.e., target market/demographic).
The Matrix is used to evaluate the relative attractiveness of growth strategies that leverage both
existing products and markets vs. new ones, as well as the level of risk associated with each.
Breakdown of Ansoff Matrix, including Products on the X-axis and Markets on the Y-axis. Each
box of the Matrix corresponds to a specific growth strategy. They are:

Market Penetration: The concept of increasing sales of existing products into an existing market.

Market Development: Focuses on selling existing products into new markets.

Product Development: Focuses on introducing new products to an existing market.

Diversification: The concept of entering a new market with altogether new products.

Market Penetration: The least risky, in relative terms, is market penetration. When employing a
market penetration strategy, management seeks to sell more of its existing products into markets
that they’re familiar with and where they have existing relationships. Typical execution strategies
include: Increasing marketing efforts or streamlining distribution processes Decreasing prices to
attract new customers within the market segment Acquiring a competitor in the same market.
Consider a consumer packaged goods business that sells into grocery chains. Management may
seek greater penetration by amending pricing for a large chain in order to secure incremental shelf
space not just for packaged food products but also for several lines of its pet food products, too.

Market Development: A market development strategy is the next least risky because it does not
require significant investment in R&D or product development. Rather, it allows a management
team to leverage existing products and take them to a different market. Approaches include:
Catering to a different customer segment or target demographic Entering a new domestic market
(regional expansion) Entering into a foreign market (international expansion) An example is
Lululemon; management made a decision to aggressively expand into the Asia Pacific market to
sell its already very popular athleisure products. While building an advertising and logistics
infrastructure in a foreign market inherently presents risks, it’s made less risky by virtue of the fact
that they’re selling a product with a proven roadmap.

Product Development: A business that firmly has the ears of a particular market or target audience
may look to expand its share of wallet from that customer base. Think of it as a play on brand
loyalty, which may be achieved in a variety of ways, including: Investing in R&D to develop an
altogether new product(s). Acquiring the rights to produce and sell another firm’s product(s).
Creating a new offering by branding a white-label product that’s actually produced by a third party.
An example might be a beauty brand that produces and sells hair care products that are popular
among women aged 28-35. In an effort to capitalize on the brand’s popularity and loyalty with this
demographic, they invest heavily in the production of a new line of hair care products, hoping that
the existing target market will adopt it.

Diversification: In relative terms, a diversification strategy is generally the highest risk endeavor;
after all, both product development and market development are required. While it is the highest
risk strategy, it can reap huge rewards – either by achieving altogether new revenue opportunities
or by reducing a firm’s reliance on a single product/market fit (for whatever reason).

Ansoff Matrix and Financial Analysis It’s a common misconception that financial analysis is
exclusively a quantitative exercise. And while it’s true that analysts must know how to make sense
of assets and liabilities, dig through 10K filings, and build financial models, it’s also imperative
that they understand the drivers of business growth, as these will inform a wide range of model
assumptions. The ability to translate qualitative findings from a SWOT or PESTEL analysis, an
Ansoff Matrix, or a Porter’s 5 Forces framework into model assumptions is what sets world-class
analysts apart from everyone else. High-quality due diligence includes the ability to effectively
model growth drivers, as these can have a profound impact on valuation estimates and important
credit metrics.

BCG Matrix:
Boston Consulting Group (BCG) Matrix is a four celled matrix (a 2 * 2 matrix) developed by BCG,
USA. It is the most renowned corporate portfolio analysis tool. It provides a graphic representation
for an organization to examine different businesses in it’s portfolio on the basis of their related
market share and industry growth rates.

It is a two dimensional analysis on management of SBU’s (Strategic Business Units). In other

words, it is a comparative analysis of business potential and the evaluation of environment.

According to this matrix, business could be classified as high or low according to their industry
growth rate and relative market share.
Relative Market Share = SBU Sales this year leading competitors sales this year.

Market Growth Rate = Industry sales this year - Industry Sales last year.

The analysis requires that both measures be calculated for each SBU. The dimension of business
strength, relative market share, will measure comparative advantage indicated by market
dominance. The key theory underlying this is existence of an experience curve and that market
share is achieved due to overall cost leadership.

BCG matrix has four cells, with the horizontal axis representing relative market share and the
vertical axis denoting market growth rate. The mid-point of relative market share is set at 1.0. if
all the SBU’s are in same industry, the average growth rate of the industry is used. While, if all the
SBU’s are located in different industries, then the mid-point is set at the growth rate for the
economy. Resources are allocated to the business units according to their situation on the grid. The
four cells of this matrix have been called as stars, cash cows, question marks and dogs. Each of
these cells represents a particular type of business.

Stars- Stars represent business units having large market share in a fast growing industry. They
may generate cash but because of fast growing market, stars require huge investments to maintain
their lead. Net cash flow is usually modest. SBU’s located in this cell are attractive as they are
located in a robust industry and these business units are highly competitive in the industry. If
successful, a star will become a cash cow when the industry matures.

Cash Cows- Cash Cows represents business units having a large market share in a mature, slow
growing industry. Cash cows require little investment and generate cash that can be utilized for
investment in other business units. These SBU’s are the corporation’s key source of cash, and are
specifically the core business. They are the base of an organization. These businesses usually
follow stability strategies. When cash cows loose their appeal and move towards deterioration,
then a retrenchment policy may be pursued.

Question Marks- Question marks represent business units having low relative market share and
located in a high growth industry. They require huge amount of cash to maintain or gain market
share. They require attention to determine if the venture can be viable. Question marks are
generally new goods and services which have a good commercial prospective. There is no specific
strategy which can be adopted. If the firm thinks it has dominant market share, then it can adopt
expansion strategy, else retrenchment strategy can be adopted. Most businesses start as question
marks as the company tries to enter a high growth market in which there is already a market-share.
If ignored, then question marks may become dogs, while if huge investment is made, then they
have potential of becoming stars.

Dogs- Dogs represent businesses having weak market shares in low-growth markets. They neither
generate cash nor require huge amount of cash. Due to low market share, these business units face
cost disadvantages. Generally retrenchment strategies are adopted because these firms can gain
market share only at the expense of competitor’s/rival firms.

These business firms have weak market share because of high costs, poor quality, ineffective
marketing, etc. Unless a dog has some other strategic aim, it should be liquidated if there is fewer
prospects for it to gain market share. Number of dogs should be avoided and minimized in an
organization.

The BCG Matrix, also known as the Boston Consulting Group Matrix, is a strategic tool used to
analyze a company's product portfolio based on market growth and market share. The matrix
categorizes products or business units into four quadrants: Stars, Cash Cows, Question Marks
(Problem Children), and Dogs. Each quadrant represents a different stage in a product's life cycle
and requires a different strategy. Let's apply the BCG Matrix to "Nagad Mobile Banking" as a
hypothetical case:

For "Stars," Nagad should invest to maintain or expand market share and continue to capitalize on
the growth in the market.

"Cash Cows" should be managed for maximum profitability and used to support other parts of the
business.

"Question Marks" require strategic decisions about whether to invest and grow them into stars or
phase them out.

"Dogs" may need to be reevaluated for their relevance, and resources should be allocated
judiciously.

Please note that the specific positioning of Nagad Mobile Banking in the BCG Matrix would
depend on market data and the actual performance of the mobile banking service in various
markets. Regular analysis and updates are essential for effective strategic planning.

Nagad life cycle

The service life cycle consists of the same four stages at the product life cycle: introduction,
growth, maturity and decline. The characteristics of each stage are the same. The only difference
lies in the strategies that can be used.

Introduction stage: A new service or a new form of a current service is said to be in the introductory
stage when it is first offered. As with goods, many new services never obtain acceptance by
customers and never get past the first stage of the service life cycle. An advantage that services
have over goods is that many new services can be introduced on a small scale and expanded if
acceptance grows. This small scale introduction reduces the financial risk associated with the
introduction, making failure less costly.

Growth stage: During the growth stage, the industry is growing rapidly. Most firms offering the
new service are seeing a positive cash flow. For example : a patient can learn about the incubation
period for chicken pox by either talking to a nurse or dialing into a vast library of prerecorded
tapes. Second, patients can seek advice about routine illnesses such as congestion or abdominal
pain.
Maturity stage: During the maturity stage, industry sales level off. Competition becomes very
intense since the only way a firm can gain the market share or increase sales is to take them away
from a competitor. The result of this increased competition is a decrease in overall industry profits.
Weaker firms will be shaken out of the industry. At this stage in the service life cycle, consumers
see very few distinguishable characteristics among the various firms in a service industry.

Decline stage: During the decline stage, industry sales decline. This sales drop is often due to a
new technology that has been developed. For e.g., typewriter repair services declined because
typewriters were largely replaced by computers which resulted in a need for a computer service
technicians and computer programmers. Nagad life cycle: Nagad was developed their service in
the period of 2017-19.There introduction stage was established in 2020. Nagad achieved 1 core
customers and that year on August they acquired 2 core customers. On march, 2021 they gained 3
core customers for their company and the next month they accomplished 4 core and then 5 core
customers. On February, 2022 Nagad obtained 6 core customers & December it got at 7 core. Now
Nagad has more than 8 core customers and it belongs to growth stage and try to increase market
share also customers.

Brand position of Nagad:

Nagad, a pioneering mobile banking solution, has positioned itself as the epitome of financial
empowerment and convenience for the people of Bangladesh. With a mission to transform lives
by bringing banking to everyone's fingertips, Nagad has established a unique and compelling brand
positioning that resonates with the diverse needs of its users.

At the heart of Nagad's brand positioning is accessibility. Nagad recognizes that traditional
banking can be inaccessible and cumbersome for many, especially those in remote areas.
Therefore, Nagad positions itself as the inclusive solution that bridges the gap, making financial
services accessible to all, regardless of location or income level.

Nagad's brand identity is synonymous with trust. In a rapidly evolving digital landscape, security
and reliability are paramount. Nagad has earned the trust of millions through its robust security
measures, transparent transactions, and unwavering commitment to safeguarding users' financial
well-being.
Nagad also stands out for its innovation. It constantly evolves to meet the ever-changing needs of
its users. Whether it's introducing new features, partnerships, or digital solutions, Nagad is
positioned as the forward-thinking financial companion that stays one step ahead in the digital
banking arena.

Moreover, Nagad takes pride in its commitment to financial inclusion. It positions itself as a
catalyst for economic growth by offering a wide array of services, from peer-to-peer transactions
and bill payments to savings and investment options, all aimed at uplifting individuals and
communities across Bangladesh.

In terms of communication, Nagad adopts a customer-centric approach. Its messaging focuses on

how Nagad empowers users to take control of their financial lives, save time, and enhance their
economic prospects. This resonates with users from all walks of life, from urban professionals to
rural entrepreneurs.

In summary, Nagad's brand positioning revolves around accessibility, trust, innovation, and
financial inclusion. It aspires to be the preferred choice for mobile banking in Bangladesh, one that
not only simplifies financial transactions but also empowers individuals and contributes to the
nation's economic progress.

SWOT Analysis
SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities,
and threats of a business or project. Here's a brief overview:

Strengths: Internal factors that give an entity a competitive advantage. These can include skilled
employees, unique products, or strong financial resources.

Weaknesses: Internal factors that hinder the entity's performance. These can include lack of
expertise, outdated technology, or financial constraints.

Opportunities: External factors that could positively impact the entity. These can include market
trends, emerging technologies, or new customer segments.

Threats: External factors that could negatively affect the entity. These can include competition,
economic downturns, or regulatory changes.
By analyzing these factors, organizations can develop strategies to capitalize on strengths and
opportunities while mitigating weaknesses and threats.

SOWT analysis of NAGAD

Strengths: Being a service of BPO Nagad Ltd. has the upper hand than all the competitors for
working under a government entity. Moreover, for providing governments services like allowances
Nagad Ltd. is solely used for the government disbursements. It is the second largest MFS of the
country and has a customer base of more than 6.5 crores. The service is cheaper with the lowest
cash out charge operating with a very easy app for all spheres of people. Nagad Ltd. provides a
wide range of services following the guideline of Bangladesh Bank partnering up with companies
of every industry like banks, MNOs, government entities etc. Also, Nagad Ltd. is known to be
providing services with cheaper rate compared to the competitors and provides the most exciting
offers.

Weakness: The customer service provided by Nagad Ltd. does not hold good reputation in the
market. Moreover, there are rumors going on about the ownership of Nagad Ltd. of being operated
under the BPO for which trust issues are created in general public. Another major weakness of
Nagad Ltd. is the app it is operating with. Often the app does not work for glitches and other issues
and customers suffer. The fact that one needs internet to get all the service from the app and has
to be in range of network to use the service, during natural calamities or geographical area where
network is not strong makes it difficult for public to use the service. There are also transaction
limits for different services. Finally, the biggest weakness is the lack of general education about
digital wallet among the population of Bangladesh especially people of rural area who are not
technologically sound.

Opportunities: The pace of the growth of Nagad Ltd. is none like before. The company was able
to land 6 crores of customers within 3 years of operation and has been able to become the second
largest MFS company of the country. The company is already competing with the market
dominating MFS. The Covid-19 pandemic has opened a door of opportunities for this company to
persuade customers into switching towards digital wallet rather than cash. People nowadays look
for convenience and being a MFS company Nagad can provide exactly this to the customers.
Threats: The biggest threat this company is its ‘biggest rival taking over the total market. Nagad
still has not gained major amount of market share and is exposed to greater threat of easily out
taken by its ‘rivals. Moreover, changes in government regulations may pose threat to the entire
operating system of Nagad Ltd. As it is operating as a Fintech company, the technological threats
are high too like hacking of official website and servicer.

Consumer based brand equity

Customer-based brand equity (CBBE) is used to show how a brand's success can be directly
attributed to customers' attitudes towards that brand. The best-known CBBE model is the Keller
Model, devised by Professor of Marketing Kevin Lane Keller and published in his mighty Strategic
Brand Management.

How to build consumer based brand equity

⮚ Engage customer and prospect

⮚ Foster relationship, grow and trust
⮚ Build brand-awareness
⮚ Tell your brand story
⮚ Invest in customer experience
⮚ Monitor where your equity is coming from
⮚ Institute a brand equity management system
 ⮚ Design future marketing plan

Nagad, the fastest-growing MFS

It took only about two years to translate an idea into a business and make Nagad the fastest-
growing mobile financial service in Bangladesh. It adopted of state-of-the-art technologies and a
disruptive approach, which also sped up the overall financial inclusion.

Nagad, the Mobile Financial Service (MFS) arm of the Bangladesh Post Office, was inaugurated
by Prime Minister Sheikh Hasina on March 26, 2019. From the very beginning, it kept cost efficacy
in mind and for that, they opted for the best technology available, which gave them a very positive
result. Nagad has introduced a number of innovations that gave it a solid boost in customer
acquisition and transaction volume.

Financial inclusion through formal banking channel in Bangladesh stands at about 20 percent,
whereas the MFS industry has pushed it towards 50 percent. Nagad plays a significant role in this
effect.

The country is now very close to bringing the entire population into the financial system, which is
also a major pillar of the Sustainable Development Goals (SDGs).

Nagad made it easier for the people to keep money transactions and payment for purchases up and
running in the early days of the Covid-19 pandemic in Bangladesh. Through Nagad, people can
transfer money electronically, make payments and pay tuition fees and bills free of cost. It is
contributing to the attainment of socio-economic development in the country. Some philanthropic
organizations also use this platform to collect donations in order to run their operations.

Achievement of Nagad
Nagad has reached a milestone of 8 crore customers only in four years of its inception, with its daily
transactions hitting BDT 1,300 crore on average. The introduction of a ground-breaking innovation that
allows opening of an MFS account just by dialing *167# has earned Nagad a huge popularity.
Brand Strategy for Nagad\
In today's competitive financial services landscape, establishing a strong brand presence is crucial
for differentiation and growth. Nagad, a prominent digital financial service provider in
Bangladesh, has made significant strides since its inception. However, as it seeks to expand its
market share and become a household name, a comprehensive brand strategy is essential.

This report outlines a brand strategy framework for Nagad, encompassing its vision, mission,
values, target audience, positioning, messaging, and marketing initiatives. By implementing this
strategy, Nagad can build a compelling brand that resonates with its target audience and
strengthens its position in the market.

Brand Value Chain

Nagad's core values include innovation, trust, inclusion, customer-centricity, and sustainability.
These values should permeate every aspect of Nagad's brand, reflecting its dedication to
responsible business practices, technological advancement, and customer satisfaction.

Designing
Nagad has rapidly grown to become one of Bangladesh's leading digital financial service
providers. With over 25 million registered users and a wide array of financial services, Nagad has
made significant inroads in the market. However, to achieve its long-term objectives, a well-
defined brand strategy is imperative.

Target Audience:

Nagad's brand strategy should focus on its primary and secondary target audiences:

▪ Primary Audience: Unbanked and underbanked individuals, tech-savvy millennials, small

and medium-sized businesses, and rural populations seeking convenient financial services.
▪ Secondary Audience: Urban professionals, existing banking customers looking for
alternative financial services, and government bodies.
Brand Positioning:

Nagad should position itself as the "Financial Lifeline of Bangladesh." This positioning
emphasizes its role in providing essential financial services that empower individuals and support
economic development across the nation.

Messaging:

Crafting effective messaging is crucial to convey Nagad's value proposition:

Slogan: "Everything is possible with Nagad"

Key Messages: Highlight convenience, security, accessibility, and empowerment through financial
services. Emphasize Nagad's commitment to financial inclusion and innovation.

Brand Identity:

Logo: The Nagad logo should reflect modernity, trustworthiness, and a sense of inclusion. It should
incorporate colours representing security, growth, and innovation.

Tagline: "Empowering Bangladesh Digitally"

Typography and Design: Use clean and modern fonts and design elements to convey
professionalism and innovation.

Marketing Initiatives:

Digital Advertising: Invest in targeted online advertising campaigns across social media platforms
and search engines.

Partnerships: Collaborate with e-commerce platforms, utility service providers, and financial
institutions to increase brand visibility and accessibility.

Customer Education: Launch educational campaigns to raise awareness about financial literacy
and the benefits of using Nagad.

Community Engagement: Sponsor local events and initiatives that align with Nagad's values,
fostering goodwill and grassroots brand promotion.
Monitoring and Evaluation:

▪ Regularly assess the brand's perception through surveys and feedback mechanisms.
▪ Track the effectiveness of marketing campaigns and adjust strategies as needed.
▪ Benchmark against competitors and industry standards.

Brand Pillars
Brand pillars are the core principles or attributes that define a brand's identity and serve as the
foundation for its messaging, positioning, and overall strategy. These pillars are the key
characteristics or values that a brand wants to convey to its audience consistently. Here are brand
pillars and explanations of each:

Innovation: Continuous Technological Advancement for Seamless Transactions

At Nagad, innovation is deeply ingrained in our DNA. We are dedicated to pioneering continuous
technological advancements to redefine and simplify financial transactions for our users. Our
commitment to innovation means that we are always on the lookout for the latest digital tools and
solutions to enhance your financial experiences. With Nagad, you can trust that your transactions
will not only be efficient but also incredibly seamless, thanks to our relentless pursuit of
technological excellence. We believe in making your financial life modern and hassle-free, and
innovation is how we achieve that.

Convenience: Providing Users with Easy and Secure Financial Solutions

Convenience is a cornerstone of the Nagad experience. We understand that you want simplicity
and ease when managing your finances, and we've made it our mission to deliver just that. Our
commitment to convenience extends to ensuring that your financial solutions are not only easy to
use but also highly secure. Your financial well-being is our top priority, and you can rely on Nagad
to streamline your financial tasks, making everyday transactions and money management
straightforward and stress-free. Convenience is a promise we keep, providing you with the
efficiency and security you deserve.

Empowerment: Enabling Financial Inclusion and Growth for Everyone

At Nagad, we firmly believe in the power of empowerment. Our brand pillar of empowerment
drives us to ensure that every individual, regardless of their background or financial status, has
access to financial tools that promote growth and financial well-being. We are on a mission to
empower you by breaking down barriers and unlocking opportunities that the traditional financial
industry might have overlooked. Our focus on empowerment means that Nagad is not just about
transactions; it's about helping you achieve your financial goals and dreams. With Nagad, we're
here to empower your financial journey and promote inclusion for all.

Together, these brand pillars define the Nagad experience. They convey our unwavering
commitment to staying at the forefront of technology, offering user-friendly and secure solutions,
and championing financial empowerment and inclusion in Bangladesh. Nagad is not just a digital
financial service provider; it's a partner in your journey towards financial success and prosperity.

Implementing Brand Marketing Programs

Developing effective brand marketing programs is essential for Nagad to increase its brand
awareness, engage its target audience, and ultimately drive customer acquisition and loyalty. Here
are some brand marketing program ideas tailored for Nagad:

Digital Advertising Campaigns:

Launch targeted digital advertising campaigns across popular platforms such as Facebook,
Instagram, Google Ads, and YouTube. Use compelling visuals and messaging that highlight
Nagad's key brand pillars: innovation, convenience, and empowerment. Leverage data analytics to
refine ad targeting and optimize campaign performance.
Educational Webinars and Workshops:
Host online webinars and workshops focused on financial literacy and the benefits of using Nagad.
These educational programs can help users understand
how to make the most of Nagad's services, fostering trust
and engagement.

Community Engagement Initiatives:

Partner with local organizations, NGOs, and community
groups to organize financial inclusion initiatives. These could include financial literacy workshops,
free digital wallet setup drives, or support for micro-entrepreneurs. Such initiatives align with
Nagad's empowerment brand pillar and generate positive brand sentiment within communities.

User-Generated Content Campaigns:

Encourage Nagad users to create and share their success stories or experiences using Nagad. Run
user-generated content campaigns on social media platforms
with appropriate incentives or rewards for participants. This
not only creates authentic content but also showcases real-
life examples of how Nagad empowers users.

Strategic Partnerships:
Form partnerships with e-commerce platforms, utility service providers, and other businesses.
Collaborate on joint marketing campaigns or offer exclusive
discounts or promotions for Nagad users when they make
transactions with partner organizations. Such partnerships
increase Nagad's visibility and provide added value to its user
base.
Referral and Loyalty Programs:
Implement a referral program that rewards users for referring new customers to Nagad.
Additionally, establish a loyalty program that offers incentives, discounts, or cashback rewards for
frequent and loyal Nagad users. These programs encourage customer retention and acquisition.

Content Marketing and Blogging:

Develop a blog on the Nagad website that offers
valuable financial tips, updates on new features, and
industry insights. Regularly publish informative
articles and share them through social media channels,
email newsletters, and other communication platforms
to position Nagad as an authority in financial matters.

Social Responsibility Campaigns:

Launch social responsibility campaigns that align with Nagad's values, such as sustainability and
inclusivity. This could include initiatives to promote eco-
friendly practices, support for underprivileged
communities, or collaborations with organizations
working toward social and environmental causes.

In-App Promotions and Notifications:

Use in-app notifications and promotions to keep users informed about special offers, discounts,
and educational content. Personalize these messages based on user behavior and preferences to
enhance engagement.
Customer Feedback and Improvement:
Actively seek customer feedback through surveys, polls, and direct communication channels. Use
this feedback to make continuous improvements to Nagad's services and user experience,
demonstrating a commitment to customer-centricity.

By implementing these brand marketing programs, Nagad can strengthen its brand presence,
engage its audience, and solidify its position as a leading digital financial service provider in
Bangladesh. These programs align with Nagad's core brand pillars, emphasizing innovation,
convenience, and empowerment to build lasting relationships with its customers.
Conclusion
Nagad's brand marketing programs are designed to propel the digital financial service provider
into a position of greater prominence and trust within the Bangladeshi market. By focusing on the
brand's core pillars of innovation, convenience, and empowerment, these programs seek to deliver
value to both existing and potential customers.

Nagad's holistic approach to its product offerings, brand identity, and marketing strategies is a
testament to its commitment to revolutionizing the digital financial landscape in Bangladesh. the
development of a robust brand strategy is paramount for Nagad's continued success and growth in
the highly competitive digital financial services industry. This report has outlined a comprehensive
brand strategy framework that encompasses brand identity, positioning, communication, and
engagement.

In implementing Nagad's integrated approach strategy, it enhances its brand equity, fosters
customer loyalty, and ultimately becomes the preferred choice for digital financial services in
Bangladesh. Through consistent and strategic brand building, Nagad can secure its position as a
leader in the industry, contributing to the nation's financial inclusion goals while remaining a
trusted and innovative partner for individuals and businesses alike. Nagad's journey embodies its
vision to empower every Bangladeshi with accessible and inclusive financial services, and its
unwavering commitment to this vision promises a future where financial prosperity knows no
bounds.