INDEPENDENT UNIVERSITY BANGLADESH

Submitted by:
Team Gravity

Members ID
Md. Onin Hasan 1921633
Shah Sadman Hamid 1921423
Md. Rakib Mallick 1921448
Anik Ahmed Shanto 1921701
Fairoz Hashmi 1922104
Md. Alamin Akndo Turjo 1920872

Submitted to:
Ms. Zakia Binte Jamal
Course Title:
Principles of Marketing
Course ID: MKT201 Section: 4
Letter of Transmittal
To
Ms. Zakia Binte Jamal
MKT201, Principles of Marketing
Independent University (IUB)

Subject: Submission of Marketing Plan Report

Dear Miss,

With due respect, it is our pleasure and honor to be your students and have this opportunity
to present the marketing plan on our new version for the PRAN Pickle. While preparing the
marketing plan we have given our best effort thoroughly on the topic regarding the product, and
we believe and hope that our plan will provide a clear conception, and will appear realistic as
possible.

Though we are in the learning phase of our career, this plan helped us gain sufficient
knowledge on creating a new product and segmenting it properly. It is indeed a challenging and
interesting experience.

We are more than willing to answer any questions regarding the marketing plan, and clarify
it fully to your understanding.

Thank you very much for all your support, which helped us significantly in preparing this
report.

Sincerely,
Team Gravity
 Contents
Executive Summary ........................................................................................................................ 1

Current Market Situation ................................................................................................................ 2

Market Description ......................................................................................................................... 2

Assessment of 4P’s ......................................................................................................................... 3

Competitive Review........................................................................................................................ 4

SWOT ANALYSIS ........................................................................................................................ 5

New Version of the product ............................................................................................................ 7

What makes Kashmiri Pickle different? ......................................................................................... 8

Segmentation of Kashmiri Pickle ................................................................................................... 9

Assessment of 4Ps........................................................................................................................... 9

Conclusion .................................................................................................................................... 11

References ..................................................................................................................................... 12
Executive Summary

The acronym PRAN stands for “Program for Rural Advancement Nationality”. PRAN-RFL Group
is one of the most well-known leading organization in Bangladesh. PRAN-RFL Group aims to
reduce poverty and hunger through large scale employment generation along with along with
catering to the diverse tastes of its global consumer for since 1981.

PRAN Pickle is the primary subject of this report. We’ve included an explanation regarding the
current market situation. Finding and Analysis (SWOT) based on its inceptions and impact on
society, as well as economy. Also, an assessment of its product, price, place and promotion will
be included as well. We will be going through the market description and where it will be targeted,
the competitors and the new version(s) of the product.

As we all know, PRAN goes through the proper extensive process to provide quality and hygienic
foods to the people who are aiming to consume safe and quality food products. PRAN Pickle has
always been a major part of PRAN Foods. This led to the well-known pickle making competition
“PRAN Achar Protijogita”. This competition has opened the doors to the exploration of many
ideas for the flavors of PRAN Pickle.

As a company, PRAN has always endorsed environmentalism and understands its responsibility
to advocate and practice ecologically beneficial activities. Furthermore, it nurtures the belief of
taking care of each of its stakeholders as well as the society at large. And so, PRAN puts its belief
into practice by carrying out activities that benefit the economy and thus, the people operating
within that economy.

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Current Market Situation

According to various authentic resources we’ve found out that PRAN and RUCHI are currently
the market leaders in cases of fermented products and pickles. Although, RUCHI is a step ahead
of PRAN. Therefore, PRAN cannot appeal to all buyers in the market place or at least to all buyers
in the same way. Buyers are too numerous too widely scattered and too varied in the need and
buying practices. Therefore, generally want to serve different segments of the market.
Identification of the parts of the market that it can serve best and most profitable is a must. It needs
to design strategies to build the right relations with customers. Firstly, we identify markets
segments. We segment the market for the buyers need. Segmentation is very important. We also
segment our market occasions, user status, and usage rate.

Market Description

Segmentation: Segmentation refers to segmenting the market into different forms in terms of age,
geography and so on. According to many sources, it has been found through the advertisement
telecast that it shows an entire family who are very much fascinated towards the pickles. So, it can
be said that PRAN Pickle is often consumed by all ages of people and for both middle and higher
income people. In terms of geography, we’ve found out that PRAN Pickle not only sells in
Bangladesh but also India along with 44 other countries.

Pickle and pickle products vary as per local taste and preferences and thus, many companies, are
succeeding in this market by catering to the personalized needs of the citizens of a country. Large
varieties, flavors, and major ingredients make this a huge market. The price variation of raw
materials and ingredients added to the preparation of pickles is one among the restrains in the
pickles market. Therefore, in developing countries, like ours, people are preferring more home-
made pickles or pickles prepared by unorganized pickle industry, as it includes pure ingredients
and can be customized on the basis of ingredients and packaging.

Hence, for the new product there’ll be a product line extension. Because, all the PRAN Pickle
products fall in the category of product line.

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Assessment of 4P’s

Product: As we’ve mentioned already the product is PRAN Pickle. PRAN has several types of
pickles such as Mango Pickle, Shatkora Pickle, Chalta Pickle, Garlic Pickle, Olive Pickle, Chili
Pickle, Boroi Sweet Pickle, Naga Chili Pickle, Mixed Pickle. The pickles will be contained in jars.
Usually, the quantity varies on the size of the jars. It can be contained in a small or big jar.
Eventually, the product’s net weight will be around 300-400 grams. The design aesthetics of the
packaging of PRAN Pickles is different than others which attracts the consumers and makes them
curious enough to buy it and try it out for themselves. PRAN Pickles are produced only with fresh
and healthy raw materials which in any means won’t harm the consumers. The products are
produced with great effort and concern. PRAN has a good recognition in many countries as they
produce high export quality products and maintain their standard.

Price: As we already know, there are many existing pickles from PRAN. So, in this case the prices
vary on the demands and wants of the consumer. The price range is between 125-150 BDT.

Place: The primary target of PRAN Pickles distribution is the entirety of Bangladesh. The products
will also be distributed in 45 other countries where PRAN usually sell their products. The product
will be available in each districts. The major target of PRAN Shatkora Pickle distribution is in
Sylhet as both Shatkora and Shatkora pickle are very famous amongst the Sylhetians.

Promotion: Most of PRAN’s promotions and advertisings are done online through various well
known social media websites/applications such as Instagram and Facebook. The advertisements
are also televised. The ads are creative enough to attract people towards their products. PRAN also
promotes their products through monetized videos in YouTube. PRAN also promotes their
products by sponsoring many programs and events and they also organize a pickle making
competition each year as a part of their pickle products promotions.

3
Competitive Review

Other than PRAN, there are two more competitors who are succeeding in the Pickle market of
Bangladesh. They are RUCHI and BD FOODS LTD.

PRAN FOODS RUCHI BD FOODS LTD. Ahmed

Types of pickles: Mango Pickle, Olive Mango Pickle, Olive Mango Pickle,
Mango Pickle, Pickle, Chalta Pickle, Pickle, Tamarind Olive Pickle, Chalta
Shatkora Pickle, Garlic Pickle, Mixed Pickle, Garlic Pickle, Pickle, Garlic
Chalta Pickle, Garlic Pickle. Mixed Pickle, Pickle, Mixed
Pickle, Olive Pickle, Shatkora Pickle, Pickle and Shatkora
Chili Pickle, Boroi Baukul Pickle. Pickle
sweet Pickle,
Naga chili Pickle,
Mixed Pickle.
Quantity of each 200 grams and 400 400 grams 200 grams and 400
pickle in a jar: 300 grams grams
grams and 400
grams.

Price range: 125- 110-185 BDT 125-150 BDT 120-160 BDT

185 BDT

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SWOT ANALYSIS

We have done a swot analysis based on PRAN’S impact in the food consumer market, which will
deduct the upcoming marketing plan for the new version of the pickle.

Strengths:

As far as we know PRAN is one of the leading food producing and food exporting company in
Bangladesh. They have a lot of food consumer products which are consumed both in Bangladesh
and abroad. PRAN has some strong sides. The main strengths of PRAN are as follows:

 PRAN has excellent brand awareness and a high-quality image as juice and packaging
product producing company.
 Dealers and sale personnel who sell the PRAN’s product are knowledgeable and well
trained in selling.
 PRAN has an efficient service network and strong distribution channel to reach the product
to the consumers quickly.

Weaknesses:

The main weaknesses of Pran’s product line are as follows:

 Pran’s line is not clearly positioned in pickle product compared with RUCHI and BD
FOODS LTD.
 The current advertising campaign for the pickles product is not particularly creative and
exciting.
 The quality of core product is as same as the competitor’s product.
 The budget of advertising and promotion is lower than its competitors’.

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Opportunities:

The main opportunities, facing by the Pran Food Company’s product line are as follows:

 Market study shows that consumers are showing huge interest in variety of pickle and its
flavors
 The maximum retailers and super shops are willing to carry the Pran Company’s products.

Threats:
Many company faces various threats whether they’re newly entering the market or already existing
in the market

 PRAN has many competitors which are marketing pickles. It has many strong competitors
in producing pickles
 Current political unstable situation may affect the new product launching activities.
 Uprising commodity price is also a threat for the product in newly introducing into the
market.
 Bangladesh government may establish a stringent product safety law, which would entail
product redesign work.

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New Version of the product

PRAN is a proud organization which excellently comes up with many ideas to produce and
manufacture a new kind of product. Be it a brand extension or a line extension, they execute their
tasks in order to accomplish their goals.

We have come up with a new product, a pickle which can only be found in Bangladeshi households
but not really in the stores.

The new pickle we plan to pitch is “Kashmiri Mango Pickle”. It’s a mango pickle with a different
exotic taste which is made with different raw ingredients and fermented, produced through a long-
term duration. There are many types of Kashmiri Pickles but we’re mainly focusing on the mango
flavored one since people tend to enjoy mango pickles over others.

Kashmiri Mango Pickle not only have a different take on the pickle market, it will also come with
many benefits for the consumers. No other companies or organizations have produced or
manufactured this Kashmiri pickle.

The art of pickling is believed to have developed independently among the different communities
of this region. In this region, the main meal is supplemented with pickles or achar that not only
adds flavour, but also enhances the value of the meal and often comes with inherent health benefits.

This pickle will definitely enhance the taste while eating other foods such as rice, biryani, khichuri
or any other daily food products. It comes with many health benefits as well. Such as, Rich in
antioxidants, lowers serum cholesterol, improves digestion and enhances good intestinal microfora.
It is also rich in dietary fibre, protein and vitamins.

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What makes Kashmiri Pickle different?

As we all know, Kashmiri Pickle has never been produced by other leading companies in
Bangladesh. So, PRAN already has the edge over the competitors. Meaning the clients/consumers
will aim for a diversified products. Unlike other pickle products Kashmiri Pickle has this exotic
different tastes which can be enjoyed especially with any kind of meal. Desi rich foods would have
the edge on being the combo meal to try with this specific pickle.

The Kashmiri pickle is not exactly sour or spicy. It has a mildly spicy-soury flavor along with a
sweet taste. This can be enjoyed by anyone who prefers both sweet and spicy flavors. It also has a
different take on aesthetics.

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Segmentation of Kashmiri Pickle

For the Kashmiri Pickle, a market segmentation will be executed. It will be product line extension.
Since we’re just making a new version of the same product, which is PRAN Pickle, it will be just
an extension of the product. Unlike brand extension, product line extension doesn’t require a new
label or name for the product. This product is targeted towards all the region of Bangladesh. Also
this doesn't require any acquired taste, so all age of people can buy it. This product can consumed
by both middle and high income groups

Assessment of 4Ps

Since we have finally come up with a new version of the product, we will be going through the
steps to come up with the strategies to get this product in the market and make it sell. Now, we
will make a strategy which will execute the assessment of product, price, place and promotion,
commonly known as the marketing 4Ps.

Product: As we’ve mentioned already the product is Kashmiri Pickle. The pickles will be
contained in jars. The quantity varies on the size of the jars. It can be contained in a small or big
jar. Eventually, the product’s net weight will be around 300-400 grams similar to the other pickle
products of PRAN. The design aesthetics of the packaging will be different than others. It has to
attract the consumers and make them curious enough to buy it and try it out for themselves. It will

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be produced only with fresh and healthy raw materials which in any means won’t harm the
consumers. The product will be produced with great effort and concern.

Price: As a new version of the product trying to enter the market, we will be charging the prices
as low as our finance allows, without hurting the chances of enjoying profits. Because all the
ingredients will be raw materials, and won’t include any kind preservatives other than the vinegar,
there are big chances to cut the cost. The plan is to manufacture this product with effectiveness
and efficiency both. An affordable price will be charged for the consumers in order to buy the
product. Since most of the Mango pickles are priced around 150 BDT, this product will be charged
only 120 BDT for 300 grams and 140 BDT for 400 grams. This already gives PRAN a step towards
success in the pickle market. Because, the competitors charge their pickles much higher than their
original cost on producing the products.

Place: The primary target of product distribution is the entirety of Bangladesh. The products will
also be distributed in 45 other countries where PRAN usually sell their products. The product will
be available in each districts.

Promotion: Most of our promotion and advertising will be done online through various well
known social media websites/applications such as Instagram and Facebook. The advertisement
will also be televised. The ads will be creative enough to attract as much as people towards the
product. We will also be promoting our product through monetized videos in Youtube, where
there’ll be an ad for the Kashmiri pickle for a brief moment. Promoting through social media has
been found to be rather effective in this modern age where the majority of the world interacts
through the internet and such sites. Moreover, bundle offers will also be included as well as “buy
2 get 1 free” strategy.

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Conclusion

PRAN has always endorsed environmentalism and understands its responsibility to advocate and
practice ecologically beneficial activities. Furthermore, it nurtures the belief of taking care of each
of its stakeholders as well as the society at large. And so, PRAN puts its belief into practice by
carrying out activities that benefit the economy and thus, the people operating within that economy.

The talent management within the corporation has allowed its excellent workforce to work together
in building an organization that believes in providing equal opportunity for everyone.

We hope that this new “Kashmiri Mango Pickle” will be a successful product which every
consumer will be interested in buying it and enjoy it.

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References

o https://www.pranfoods.net/
o emia.edu
o http://mamanushka.com/kashmiri-aanchar-homemade-pickled-vegetables/
o https://chaldal.com/pickles
o https://www.sfbl.com.bd/our_brands.php?brand_id=2
o http://bdfoods.com.bd/
o http://bdfoods.com.bd/#products

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