A Comprehensive Marketing Plan on NIMORI AFTERSHAVE LOTION

A Comprehensive Marketing Plan on ASCENT AFTERSHAVE LOTION

Prepared for Engr. A. F. M. Enayet Karim Faculty College of Business Administration (CBA)

Prepared by

Group members name: Yeasin Arafat (Group leader) Md. Abdullah-Al-Mamun Md. Imran Mahmud Shirin akter Nasrin Afroz Fency

ID# 08202020 08202030 08202036 08202045 08202043

04 August 2009

04 August 2009

Letter of Transmittal
July 29, 2009

Engr. A.F.M Enayet Karim

Faculty College of Business Administration (CBA) IUBAT - International University of Business Agriculture and Technology 4 Embankment Drive Road, Sector 10, Uttara Model Town Dhaka-1230

Subject: Submission of Report. Dear Sir: With due to respect we are the student of MKT 301: course. It is the great pleasure for us to have an opportunity to prepare a report on launch a new product in the market. We have prepared this report as an assignment not for any other purpose. We believe that the experience we acquired from this job is not only important for completing our course but also it is an invaluable asset for our future life. We tried our best to fulfill the requirements of this report. For your kind consideration we would like to mention that there might be some mistakes due to limitation of our knowledge, financial condition and our time limitation. We hope you will consider our mistake. Workings with such an interesting job we are very happy. We are available for any quarry.

Sincerely yours

Yeasin Arafat (08202020) Md. Abdullah-Al-Mamun (08202030) Imran Mahmud (08202036) Shirin Akter (08202045) Nasrin Afroz Fancy (08202043)

Student Declaration:

We are the students of Bachelor of Business Administration (BBA), at the IUBATInternational University of Business Agriculture and Technology and declaring that, this report on the topic of Ascent Aftershave has only been prepared for the fulfillment of the course of MKT 301 (Marketing Management) as the partial requirement of marketing courses.

This Project report is not prepared for any other purposes.

Table of contents:
Title
01. Executive Summery 02. Acknowledgement 03. Introduction 04. Background 05. Corporate Objectives 06. Marketing Audit 07. SWOT Analysis 08. PEST Analysis 09. Marketing Strategies 10. Summary 11. Conclusion 12. Recommendation 13. Bibliography 14. Appendices

Page no
vii viii 01 01 05 05 06 07 09 16 16 16 17 18

List of illustration:
Title
01. Activity of survey 02. Branding 03. Packaging 04. Holistic selling proposition 05. Diagram of distribution channel

Page no
04 10 11 12 15

Executive Summary:
We are launching a new product: Ascent Aftershave Lotion in a mature market. We can compete with both Denim and Gillette because our product offers a unique core value at a value added price. We are targeting specific segments in the consumers and business market, taking advantage of the growing interest in a new aftershave that carry different value or some extra value from competitions. We want to honorably serve the needs of the community by providing products of superior quality at a fair price to our customers, to do this so as to earn an adequate profit which is required for the total enterprise to grow and by so doing provide the opportunity for our employees and shareholders to achieve our reasonable personal objectives.

Acknowledgement:
At first we would like to express our gratefulness to the almighty Allah for being so kind to allow us to work on this project successfully. Then we would like to express our gratitude to IUBAT International University of Business Agriculture and technology where we have finished my required course curriculum to be eligible to prepare a research paper. The education learnt from the teachers and the whole infrastructure of my university, truly has amplified our level of competency and thoughts during my learning period. We would like to thanks our honorable faculty Sir A.F.M. Enayet Karim for his support and guideline which has enabled us to form such a report. We give special thanks to Tanvir H Dewan, to give us guideline to accomplish this report. Finally we would like to thanks our Vice-Chancellor professor M. Alimullah Miyan, as because he gave us opportunity of making such kind of report that will be very much helpful for our prospective career.

Introduction:
Introductory paragraph:
Aftershave is a lotion, gel, balm, powder, or liquid used mainly by men after they have finished shaving. It may contain an antiseptic agent such as alcohol to prevent infection from cuts as well as numb damaged skin, a perfume to enhance scent, and a moisturizer to soften the skin. An alcohol-based, fragrance-free astringent can be used as an aftershave. It is said that the alcohol in the aftershave closes pores in the skin and prevents irritation .

Statement of the problem:

To fufill the needs and demands of different ages men of upper midle class we make our aftershave lotion.

Purpose of the study:

In this report we can easily define the purpose of the study,is that the marketing plan of our company will be in a sustainable position. The segmentation of the marketing plan, targeting the marketing mix. We are coming up with a new product of aftershave.That is the core value of our purpose of this report.

Significance of the study:

The proper channel of distribution are the signifcant of the study. Our company provide some good benefits among the customers. Among the retailers the main point of view that to get some good knowledge to that products.So we are giving some rules and techniques how they sale their products to the customers. Our company will be follower to these rulse and techniques. So our company keep in their mind always being producing good products to the customer.

Background:
Our REMIX group is producing a new aftershave name is Ascent Aftershave lotion. We have started our journey on 25 June 2009.We believe that we will be successful to fulfill our mission and vision. The aim of our business is to provide best quality of products with reasonable price to satisfy the customers demand. We will make sure that our products will be the best quality products in the market. As per we know that it is a good business plan.

Rational:
Our report contains customer requirements, demands and level of satisfaction that will help to build up better marketing plan on Ascent Aftershave lotion. So our project will be helpful for students and other researcher.

Objective:
Our objectives are divided into two categories:

Broad Objective:
A Comprehensive Marketing Plan on TEMPT AFTERSHAVE

Specific Objectives:
Study the level of targeting customers

Study the willingness of the people to buy the Aftershave Study the customers attitudes towards Aftershave Find out the market condition of aftershave Analysis the current market situation
Identify acceptable pricing policy for Aftershave

Find out attractive product design Identify the proper channel of distribution Find out our advertising policy Find out our target market Identify the quality of competitor aftershave Determining SWOT analysis for competitors Find out the strength and weakness of our company Find out the opportunity and threat of our company

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Scope:
This research project is only discusses about the marketing plan on Remix group in Bangladesh .Determining the market opportunity, sales potentiality, target market, and positioning the market place. Apart from these, this research project does not deal with any other behavior.

Methodology:
We have collected different types of data from different sources and the procedure was simple random method.

Primary Data: we have collected the primary data from the consumers and retailers through a structured questionnaire. And also from some faculties, guardians, friends and relatives. Secondary Data: Secondary data are collected from different magazines, journals and some websites which are related to our topics. Sampling: The sample size for our study had (100 customers + 100 retailers).

Data collection Method:

Our data collection method had personal interview and telephone interview. We had taken personal interview from customers, retailers, university faculties, friends and some relatives at Dhaka district as well as telephone interview from Chittagong District.

Data Analysis:
After collecting all the data we had analyzed our data. Individually we had analyzed the data among ourselves. Then we had made the comparison of data and explain it through graph, chart, table etc. Based on our analysis we have made findings, limitation, recommendation and conclusion. Finally we will present our research in front of audiences.

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Instrumentation:
Through face-to-face interview and telephone interview by structured questionnaires we had done our survey.

Procedure and Time Frame:

It had taken 21 days to fulfill this Marketing Plan.

Activity:
The results of customers and retailers satisfaction on conducted from personal interview by questionnaires shown in the pie chart.

Activity of survey

Day6 10%

Day7 5%

Day1 Day2 10% 5%

Day1 Day2 Day3 Day4 Day5 Day6 Day7

Day5 20% Day4 25%

Day3 25%

Legend

Limitations:
When we were preparing this report we faced some problems. People did not interest to talk with us. People did not give 100% information. When we went to collect primary data from different field we also faced some problem like transportation,

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financial problem etc. we faced another problem that secondary data was not available. We did not get enough time for data processing and analyzing.

Corporate objectives:

Management department: The main objective of management is to

manage the organizational needs and managerial tools and it also responsible for organize the managerial activities.

Finance department: The finance department is responsible for collect

capital, raising fund through revenue and also focus a estimated budget for our company.

HR department: HR department is highly responsible for all HR work like

recruitment, selection compensation As well as make policy and ensure the practices.

Sales department: Sell department is responsible for increasing the sell and
collect the information about the market.

Accounts department: It is responsible for maintain all kinds of accounting

activities such as (1) Internal accounts like sell and trade account, revenue and expense account, final account and balance sheet (2) External accounts like auditing Taxation etc.

Marketing department: It is responsible for all marketing work like

choosing target market and getting, keeping and growing customers through creating delivering and communicating superior customer value.

Marketing Audit:
A marketing audit can be defined as a systematic, periodic and a comprehensive procedure of checking out the marketing activities of a concern. It is an analysis of the external marketing environment or a company's internal marketing goals, objectives, operations, and efficiency. An external marketing audit covers issues such as economic condition or the general business environment (like the budget passed for this year, the parliament allowed the government to allocate BDT 1, 89,995 core from supplementary fund to finance all activities).political, infrastructure, technological, and consumer perspectives; market size and structure; and competitors, suppliers, and distributors. An internal marketing audit covers aspects such as the company's mission statement, goals, and objectives; its structure, corporate culture, systems, operations, and processes; product development and pricing; profitability and efficiency; advertising; and deployment of the sales forces.

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SWOT Analysis:
One of the most important tools of marketing audit is the SWOT or Strengths, Weakness, Opportunities and Threats analysis. This tool is of a lot of help to the marketers and is used at the beginning of the marketing

Strengths:
End-user sales control and direction. Right products, quality and reliability. Superior product performance vs. competitors. Better product life and durability. Direct delivery capability. Product innovations ongoing
Management is committed and confident

Have customer lists

Weaknesses:
No direct marketing experience. Need more sales people. Delivery-staff need training. Customer service staff needs training. Limited budget Management cover insufficient Customer lists not tested.

Opportunity:
Could develop new products. Local competitors have poor products. Profit margins will be good. End-users respond to new ideas.
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 Could extend to overseas. New specialist applications. Can surprise competitors. Support core business economies. Could seek better supplier deals.

Threat:
Legislation could impact. Environmental effects would favor larger competitors. Existing core business distribution risk. Market demand very seasonal. Possible negative publicity.

PEST analysis:
This is the analysis of the various factors that have an effect upon the marketing process. The organization undergoing a marketing analysis should be taking into consideration all the environmental factors and give it a thorough analysis. These environmental factors may be internal or external. The internal factors compromise of the staff and queries related to them. The external would be the external customers and the various distributors connected to the concern and the political and economic factors are also taken into consideration.

Political:
ecological/environmental issues current legislation home market future legislation European/international legislation regulatory bodies and processes government policies government term and change trading policies home market lobbying/pressure groups international pressure groups wars and conflict

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Economic:
home economy situation home economy trends overseas economies and trends general taxation issues taxation specific to product/services seasonality/weather issues market routes and distribution trends interest and exchange rates international trade/monetary issues

Social:
lifestyle trends demographics consumer attitudes and opinions media views law changes affecting social factors brand, company, technology image consumer buying patterns fashion and role models major events and influences buying access and trends ethnic/religious factors advertising and publicity ethical issues

Technological:
competing technology development research funding

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 associated/dependent technologies replacement technology/solutions maturity of technology manufacturing maturity and capacity information and communications technology legislation technology access, licensing, patents global communications

Marketing objective:
Targeting the customer/consumer who wants to buy the aftershave. Create a big market for our products in our country as well as all over the world. Promoting the good aftershave in the market by using attractive color, good fragrance with anticeptability. Promoting a new brand in the existing market. Continuously innovating our products with customer needs and demands.

Marketing strategies:

Target market: We are working for upper middle class men

basically university faculties and students, air force men. Thats why we have divided the range of the age like (18 to 25), (26 to 35) and (36 to 60)

Other variables: We are so conscious about rules and

regulation of Bangladesh, culture, social values and norms. We are using Tk.3.572 for planting tree in the road side of whole Bangladesh.

Marketing mix: Get the highly satisfaction of upper middle men is our main purpose. Considering this statement we try to give the aftershave lotion to the customers.

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Value innovation: Ascent aftershave is the new aftershave lotion for the
men. It will be a unique lotion for Bangladesh. We made Ascent Aftershave by the basis of smell. Therefore we provide three different smells for different ages men. For the 18 to 25) mens we try to use combination of rough and smooth smell for their demand so the person who use this lotion and 1\2 feet far people will get green chili smell and 1 feet far people get black rose smell. For the (26 to 35) mens we try to use rough smell for their demand and personality. For the (36 to 60) mens we try to use smooth smell.

Branding:

Name:

Logo :

Color:

Green, Coffee, Light

Slogan: Always Fresh & Sizzling

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Packaging:

19

Holistic Selling Proposition:

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Value pricing: We made the price according our quality. Our markup price
is per aftershave = 375. Because our

Variable cost is per aftershave = 250 Fixed cost = 10, 00000 And expected unit sales 100000 So the unit cost = variable cost + fixed cost/Expected unit sales
30 = ---------------------- = 0.3 100

FC VC = VC + --------------------US

VC = Tk.250 + ----------------100000 VC = Tk.250+ Tk.10 VC = Tk.260

UC Markup price = ------------------------------------------1- Desired return on sales

Tk.260 => MP = ---------------------------------------

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1-0.3

MP = Tk.371.428 + Tk.3.572 Profit = Markup price Unite cost P = (Tk.371.428+3.572)-Tk.260 P = Tk.375-Tk.260 P = Tk.115 Markup price Unit cost So, Profit Margin = ------------------------------------- * 100 Unit cost

Tk.375 Tk.260 PM = -------------------------- * 10 Tk.260

Tk.115 PM = --------------------------- * 100 Tk.260 So, PM = 44 Percent

Mainly this is the markup price but for social responsibility (tree plantation) we add 3.571. Therefore the price goes up at 375. For the first time we allowed some discount for the agent that is quantity discount. It means if any one perches 500 aftershaves he have to pay Tk. 375 per aftershave. If it is more than 500 then he has to pay Tk. 370 per aftershave.

Value delivery: We set pathways for our new product after production that
can reach our product to the end user. We follow five players in our distribution system. Those are given below in a diagram.

1. Manufacturer 2. Agent 3. Wholesaler

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4. Retailer 5. Customer

Diagram
Corporate office

Companys Factory

Companys ware house

Every division agent

Dhaka

Sylhet

Khulna

Rajshah i

Barishal

Chittagon g

District agent

Wholesaler

Retailers

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Customer

Value proposition: We want to create awareness about our Aftershave

lotion for the mens thats why we made all media advertising like TV, Radio, Newspaper, and Magazine for them. Also place the place advertising by Bulletins, Billboards, posters, Transit.

Summary:
Our vision is to be the global market share leader in each of the market we serve. We will earn the leadership position by providing new, innovative, high quality, cost effective and environmentally responsible products to the end user through our distributor. We will add value of this product by providing legendary customer service through our uncompromising commitment to the customers satisfaction.

Conclusion:
In the competitive market there are different kinds of aftershave. But all are not purchasable to the upper mid level customer. Some aftershaves are very high price, some aftershaves do not match with skin, and some aftershaves fragrance does not good and some aftershave containing alcohol. This kind of problems is very much affected to the customer minds. We are launching a new after shave in the competitive markets which contains customers value and satisfaction. We will try to give better quality of aftershave with a reasonable price to the customer. Hopefully we will try to our level best to entire the market situation.

Recommendations:
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 If we go ahead with delight, we will have to move quickly. The window of opportunity is open, but if DENIM aftershave is as good as they claim, we will be in for a fight. We are new in the market so we face the threat of ever-higher competition and downward pricing pressure. We think, also we have lack of knowledge and skill, a holistic corporate culture and lack of systematic approach.

Bibliography:

http://dictionary.bnet.com http://www.essaytrader.net http://www.businessballs.com http://www.google.com.bd

Appendices:
Questionnaire:

PEOPLE PERCEPTION ABOUT AFTER SHAVE Name: Age: Profession: Organization:

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1. Do you use anything after your shave? (a) Yes (b) No

2. Usually where do you shave? (a) Saloon (b) Home

3. What do you use after your shave? (a) After shave (b) Savlon (c) Fitciri

4. Which brand do you use after your shave/ (a) Gillette (e) Fa (b) Adidas (f) Cool (c) Brut (g) Dunhill (d) Denim (h) Jaguar

5. Why do you use this particular brand? (a) Good quality (b) Brand image (c) Reasonable price (d) Flavor

6. Which brand gives you more preference? (a) Domestic (b) Global or International

7. If domestic then why? (a) Patriasm (b) Quality (c) Price

8. If foreign then why? (a) Brand image (b) Quality (c) Flavor

9. What kind of attributes you expect from after shave? (a) Good quality (b) Reasonable price (c) Good flavor

10. What things are more important to you? (a)Quality (e)Both a & b 11.If new brand come, will you accept it ? (a) Yes 12. If yes, why? (a) For taste (b) good quality (c) Reasonable price (d) New brand always offers some extra benefits 13. If no, why? (b) No (b) Price (c) Brand image (d) Good flavor

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(a) Untrusted

(b) Less experience (c) Less segmentation in products

14. What kind of attribute you want from a new brand? (a) Good quality (b) Reasonable price (c) Different flavor (f) Availability

(d) Attractive shave (e) Hyzenic

15. We are going to lounge a new after shave in the market. If we can able to give you better quality product with a reasonable price and also fulfill all attributes that you want from after shave, will you accept it? (a) Yes (b) No

Questionnaire of Retailers

Organization: Location:

1. Please tell me the first three brands which are highest selling from your shop? .

2. What are the reasons that customers buy that aftershave more? Please give me your opinion.

3. What are the factors customers considers at the time of purchase?

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