Situation Analysis, SWOT Analysis & Marketing Strategy

Of

KRUNCHY BARREL Chips Scenario: Bangladesh Market.

Prepared by: Bishazit Das

Situation AnalysisCustomers:

Bangladesh is an over populated country. It has a large amount of population. And many of

them are fond of chips. So there is vast market for the chips industry. But some people are

disinterested about the chips. So the people have also some negative ideas about the product.

But most of the customers are nominal to be motivated as a consumer of any product if the

features are that product could be represented properly.

Competitors:

The chips industry in Bangladesh is not small. There are a lot of chips producers. Some of

them are International and some of them are national & local suppliers. But canned chips

marketers are few in number. In our country many foreign brands are also available. They are

comparatively costly also. So the consumers’ taste and demand are changing from low

quality chips to high quality chips. The major competitors of canned chips brands name are

lay’s chips, Pringels, Towers, Chizzpa, Mr. Tomas, Jacker, etc.

Company:

OMEGA Exim Ltd. is strongly positioned to grow

through its policy of constant innovation and

renovation, concentrating on its core

competencies and commitment to high quality,

with the aim of providing the best quality food to

the people of Bangladesh. These chips are totally different from other traditional chips. Its

quality will be very high and which will be harmless. In that product, there will have some

special ingredients & flavors which will provide nutrition and which will be work as digester.

Context:

In the market of Bangladesh has a demand of chips product. At present, a lot of canned chips

are available in the market and there is an idea in the market that chips are very harmful for

the teeth. So a lot of conscious people do not take chocolate or chips and many parents do not

feel comfort to give this to their children or even for themselves. So people have a latent

demand of harmless chips. So, OMEGA Exim Ltd. wants to lead the market with high quality

canned chips and which will be harmless for health.

Economy:

Bangladesh is a developing country. Though the economic condition of this country is not so

good, the economy is turning from agricultural sector to industry sectors. So the futures of

any industry like food & nutrition in an industrial aspect in this country is very bright.

Government:

The govt. is also attentive about the industry sector and encourages and helps to establish new

businesses.

Legal :

The govt. regulations or the legal condition of Bangladesh is also not a big obstacle at starting new business or to launch new product. But in terms of introducing new consumer product, a company must obtain the approval of BSTI (Bangladesh Standard & Testing Institute). So to launch new chips the company must obtain BSTI approval.

Technology:

The technological environment of Bangladesh is not developed. So, new and advanced

technology and machinery have to be imported from the abroad to produce qualified chips. It

would be a great future plan for OMEGA Exim Ltd.

Socio-cultural:

From the socio-cultural point of view, there is no barrier for chips. The chips have a good

acceptance in Bangladesh. But many people are aware about its bad effect. They know that

chips are harmful for health and there is a strong idea about this in mind of the people. So,

creating awareness about the health & hygienic facts of canned chips can change the current

socio-cultural beliefs.

Market Opportunity and Issues

SWOT analysis: SWOT analysis is the overall evaluation of a company’s strengths, weaknesses, opportunities

and threats.

The SWOT analysis of OMEGA Exim Ltd. regarding marketing of ‘Canned Chips”

is as follows—

Internal environment analysis: The strengths and weaknesses of OMEGA Exim Ltd. “Canned

chips” are summarized below:

Strengths:

Expert and experienced management

High quality product offering

Less price than competitors

Best quality and services.

Maintain strong delivery schedule.

Strong financial support.

Company has strong manpower.

Few known competitors

Customer loyalty of the company

Availability of capital

Use of modern technology & Public Relations

Financial stability

Product has the brand personality.

Vast Market

Open Opportunity

Unique product features like flavor, packaging, tests, hygienic etc.

Weaknesses:

“Canned Chips” is kind of a new product line of the company.

OMEGA Exim Ltd. has many kind of product. But for this new type of product,

distribution and promotion will have to be taken.

As it is a new flavor product, it will be difficult to manage customers for the

company.

Lack of proper knowledge about the market and the demand because it’s never

surveyed before.

External environment analysis: The major opportunities and threats of “Carrot chips” are given below:

Opportunities:

There is a demand for this kind of product.

Canned food has good image in the market.

There are so few existing verities flavors Canned Chips currently in the market

Good and initiative employees.

Mature retail market in Bangladesh.

Developed communication channel.

Company has a lot of proper channels to deliver the product.

Threats:

The present chips manufacturers are also strong competitors.

As it is a new product, there is a chance of rejection by the market.

It may fail to fulfill the expectations of the customers.

Foreign manufactured chips, though the company is domestic

High cost of the raw materials.

Political environment of the country.

Marketing Strategy:OMEGA Exim Ltd.will decides to market Canned Chips all over the country especially in the

urban and sub urban areas.

Customers will be communicated through advertisements such as leaflets, quality posters,

Kiosks, newspaper ads, internet and other media ads & later on radio & TV ads.

Mission:

To provide customer highest quality canned chips and attract current customers of the present

chips. Generate brand equity in the market so that in future no company can take the market

by producing same product.

Target Markets:

OMEGA Exim Ltd.’s main target market people are the young ages people who like to eat

chips very much. Mostly the school going students and the children. Beside that they also

focus the young generation people. Although their main target market is young people but

they also prefer the people of adult and old ages people. Also their focus goes to all types of

peoples of the country and the current user of the chips.

Target Market Segments:

OMEGA Exim Ltd.has segmented its market on the basis of following categories:

Geographic:

For the urban and sub urban and rural areas citizen of all over the country.

Especially for the convenient transportation areas.

Demographic:

Children generally under teen-age.

Young generation generally under age range 13-25.

Educated people and conscious parents.

Psychographic:

The lower middle class, middle class, and upper middle class.

The conscious people.

Behavioral Factor:

Those who have negative idea about the traditional chips.

Those who seek good quality.

The non-users and regular users of the chips.

Those who are aware about the bad effect of the traditional chips.

Positioning:

Market positioning requires the determination of a frame of reference- by identifying the

target market and the nature of the competition and the ideal points-of-parity and points-of-

difference brand association.

OMEGA Exim Ltd. will always try to position their product through image differentiation, by

related marketing and product differentiation. OMEGA Exim Ltd.will use logo and short

advertisements so that people can consistently see the advertisement so the product will

occupy a clear, distinctive, and desirable place in the mind of the consumer relative to

competitors’ product. OMEGA Exim Ltd. will use USP (Unique Selling Proposition) for their

product. To do brand differences that make a better differentiation or that has the potential to

create company costs as well as customer benefits. A difference is worth establishing to the

extent that it satisfies the following criteria.

Important

Distinctive

Superior

Communicable

Affordable and Profitable

To capture the customer/ user easily, OMEGA Exim Ltd. will also develop some positioning

strategy to position “Canned chips”. There are some requirements how OMEGA Exim Ltd.

capture the customer value. These are given below:

i) By proper offerings.

ii) To show the interest of the product.

iii) By preemptive and then other competitors can`t copy this product and its services.

iv) By creating product superior valve.

v) By advertising

vi) To know about the customary satisfaction.

vii) To ensure the better quality.

viii) Ensuring that its 100% Harmless chips

ix) By offering chips with affordable price

Marketing Mix:

Product:

For launching a product in the market, there is some procedure that should be followed by

every marketer to move in the long run. Our product will enable our customers to have a

different experience to try our chips. They will be able to differentiate our product in quality

which is unique in the chips market. They will not be able to feel the same way for the other

chips in the market. Generally different size of chips cans will be produced for customer.

These are small, medium and big size.

Price:

Price is the amount of money customer wish to pay to obtain the product. Necessary strategies pertain to the locations of customer price flexibility related item within a product line and terms of ale. Here, it could be set maximum Tk.60 for small and TK.90 for medium and TK 120 large cans.

Pricing policy for its product due to the following reasons:

Distinctive Packaging Brand Name Cost of raw materials

Place:

By using the present distribution channel OMEGA Exim Ltd. can easily market this new product “Canned Chips”. The company has many consumer products. The company can use its present marketing channel to make the products available all over the country. They also can make some new channels and assign some distributors to promote this new product. Super Malls, Shopping Malls & Family Marts will be the most appears places of this product. Shopping Marts like AGORA, MINA BAZAR, KIDS & MOMS, and SWAPNO will be represent it in an exclusive display which may be possible by MOU’s with them.

OMEGA Exim Ltd. can use mobile shop in the shopping malls, offices and crowded areas so that people can purchase the product easily when they like to consume.

Promotion:

It plays an important role in the exchange process by informing customers of an

organization’s product or service and convincing them of its ability to satisfy their needs or

wants.

We will use the following promotional mix:

●Advertising

●Personal selling

●Direct marketing

●Sales promotion

OMEGA Exim Ltd. will take an affordable promotional program for this product. The

company will keep a minimum amount for the promotional activities at the beginning of the

product. As it is a new Product, unique promotions are needed to build up the product

awareness.

OMEGA Exim Ltd. will use the social media at first & then Free Home Delivery, Power

Point Presentations, Banner, Festoon, Placard, leaflet & posters. When its response will

represent handsome profits then it will be time for ads through TV, Radio, Bill Board and

Newspaper..

The company will take the strategy to create awareness about the bad effects of the traditional

chips.

Advertisement:

In the newspaper advertising, the company will know or inform the people about the bad

effect of the traditional chips and inform about the good sides of the Canned chips. In their

total promotional activities they will also try to build awareness in the minds of the customers

and try to acquire a strong position. In the electronic media’s advertising the company can

present famous and renowned doctors to inform people about the difference between

traditional chips and Canned chips.

Public Relation:

The company will take a mass public relation program.

Retailers and Wholesalers:

OMEGA Exim Ltd. will give many facilities to the retailers and the wholesalers. To take the

competitive advantage the company will give more facilities than its competitors. The

intermediaries are given many gifts items such as wall clock, T-shirts etc. and sales helping

equipments such as keeping pots, bill board etc.

Others:

OMEGA Exim Ltd. will develop some cartoons which will be used on the T-shirts, bill

boards, neon boards, and in some ads to attract the children and young people. The company

also uses this brand’s logo, picture, symbol etc. on many toys, dolls and on many other things

to know and attract the target market.

Implementation Implementation

Most marketing plans are primarily driven or determined by market needs and aims. We need to clarify what needs to be done. For the real market capturing, to make sales of Canned Chips at first we need to make know our sales persons “Marketing Is a Habit, Not an Event”.

While construction a market visit plan we need to have a complete understanding about the product and the products selling personnel. We also need to ensure the basic for the marketing activities such as:

We should enable each and every sales personnel to understand the organizational policy to make a successful sale. That’s why we need to identify the most appropriate marketing mix. The mix should consist of:

The right product Sold at the right price In the right place Using the most suitable promotional techniques.

Sales team must have to consider the Market Table below:

THE MARKETTarget market

Who are you selling to? Why would they buy your products/services over others?

Marketing strategy

How do you plan to enter the market? How do you intend to attract customers? How and why will this work?

Sales action plan:

A sales action plan is a consistent result of a better marketing plan. OMEGA Exim Ltd. has already completed first three steps of a standard marketing action plan. So now it’s time for the last and the final step; sales action road map. For better understanding the stated words can be presented in a pictorial manner as below:

The 4W as an action plan:

The 4W will clarify the action toward make a successful sale. Each and every sales personnel will keep it in their mind that their prime and supreme action plan is 4W.

When they get the point of 4W in case of create a sale it becomes easier ever to make it happen successfully. So the marketing team must have to identify What they are selling,

How they can make the sale, Who they are dealing with and When they going to make the sale.

Prime market capturing techniques for TME (Time Management & Effectiveness):

TME sales & marketing team will work in an active manner such as territory representation. Each and every sales person will facilitate OMEGA Exim Ltd. with a representation of specific territorial sales. The whole market will be segmented into seven territories depending on the distribution chain on seven divisions of the country.

Sales technique on the basis of territory will such as:

Territory 1 Territory 2 Territory 3 Territory 4 Territory 5 Territory 6 Territory 7

Sales Force 1 Sales Force 2 Sales Force 3 Sales Force 4 Sales Force 5

Sales Force 6

Sales Force 7

Sometimes incase of special need to boost up sales, sales personnel will run their activities in a co-operative manner to get succeed.

Deconstruction of territory:

While deconstructing the territories we can identify specific places adding with specific territory. Segmented territories are as follows:

Territory Areaterritory 1 Sales Force 1 ( Dhaka Division)territory 2 Sales Force 2 ( Chittagong Division)territory 3 Sales Force 3 (Shylet Division)territory 4 Sales Force 4 (Rajshahi Division)territory 5 Sales Force 5 (Khulna Division)territory 6 Sales Force 6 ( Barisal Division)territory 7 Sales Force 7 ( Rangpur Division)

Today businesses have an increasing market focus. If organizations are to serve the needs of their customers they need to be structured in such a way as to identify and meet customer requirements. So sales personnel from different territory should have to stimulate and construct the basic needs of customers. It may differ from one territory to another but there must be a daily or weekly conversational period where the sales personnel can have a recall about the obstacles and solve those with sharing experience and solving method.

There are a number of processes involved in producing effective Sales, including:

Identifying the most appropriate market segments to target the Sales Choosing the best possible media of orientation to enter a territory Projecting the right message in the adverts To get the timing of the approaching right place at right time

Tracking the effectiveness of the selling, such as wordings, presentation and creating value in the deep mind of clients

Evaluation:

The evaluation process of preferred marketing will take 3 stages such as:

Each and every stage represents the actual outcome of marketing activities. In case of sales person like the above 3 stages, their performance will be evaluated according to the success rate of total marketing process.

Self Assessment:Self Assessment will take place before and after of any sales action. A sales person will maintain the chart provided below. The chart will assist a sales person to evaluate himself in case of his working territory, client community, and response rate and success probability. It’s a prior and post activity that a sales person can easily indicate his success rate otherwise his way of working. The chart is given below:

Action Plan Self AssessmentActionNo.

Action Action Area

Action Date

Action Community

Total No. of Community Members

Start Time

Finished Time

No. of Potential Clients

Remarkable

Clients

Clients need to

follow up

Remarks

Reviews and Control:

Marketing plan includes different kinds of budget and managerial assignment for every action program. It describes how to implement

marketing plan. For control purposes, the plan also allows for quarterly comparison of actual versus projected sales and expenses. If

they cannot do this comparison among the plan then they never go to the competition. For their better performance they need

comparison between actual and projected sales and expenses. If there find out any gap in plan and output, we have to take corrective

actions. Not only that, if there is any problem arise in production, marketing process, or any other areas, we have to take necessary

steps to overcome that. Finally, the management will monitor the total environment, progress, and gap and will take the corrective

actions if necessary. The company always has to maintain the TQM (Total Quality Management).