INDEPENDENT UNIVERSITY OF BANGLADESH

An Assignment
On
‘Marketing plan for palm juice -thirsty’

Course Title:
Marketing Management
Course Code: MBA – 506-1

Submitted to:
Dr. S.M Sohel Rana
Assistant Professor
Submitted by:
Name ID
Jennifer Parvez Arna 2021673
Tasnia Tasnim Mourin 2120143
Farhan Galib 2022958
Moin Uddin Mahmud 2010685

Date of Submission: 20.08.2021

Letter of transmittal

August 19,2021
Dr. S.M Sohel Rana
Assistant professor
School of business
Independent University of Bangladesh
Subject : Marketing plan for palm juice -thirsty

Dear sir,
With due respect we, the student of MBA have reported of “Marketing plan” under the
course: Marketing management .

Through we are in learning curve, it becomes as an extremely challenging and interesting

experience. Thank you for your supportive consideration for formulating an idea .without
your inspiring, this report would have been an incomplete one and not more.
Lastly I would be thankful once again if you please give your judicious advice on effort.

Yours’ sincerely,
Moin Uddin Mahmud
ID-2010685
 ACKNOWLEDGEMENT

We are really grateful because we managed to complete our assignment within the time
given by our lecturer Dr. S. M Sohel Rana. This assignment cannot be completed without
the effort and co-operation from our group members Arna, Farhan, Tasnia. We also thanks
Wikipedia and other sources, who help ours lot. Last but not least , we would like to
express our gratitude to our friends and respondents for the support and willingness to
spend some good times with us to fill in the questionnaires.
 Table of contents

Topic Page No

Executive Summary 01

New product 02

Service per container 03

Market Research and market 04

organization
Market segment and targeting 05

Market Projection 06

SWOT analysis 07

Competitor analysis 08

Market Plan 09

Promotional Strategies 10

Personal selling and Promotional tools 11

Manufacturing , financial analysis and 12

Documentation
Conclusion 13

Reference 14
 Marketing plan of THIRSTY

Executive Summery
We want to market Palm juice. We have prepared this feasibility plan on that basis. We
have assigned a name for the product as “Thirsty”. Since the raw materials are very much
available in our country, we have decided to give the product an indigenous image. Thirsty
is a kind of soft drink that provides the consumers with processed palm juice in bottles. For
the marketing purpose of the product we have decided to launch three product lines. The
Thirsty would be launched in the market at 250 ml. 500 ml. and 1 Litre bottle. We have
set a reasonable price for the product so that all kinds of people can afford to buy this soft
drink. We have followed the Target Costing pricing approach. We would gain a
competitive advantage, as this is a first hit in the market. We have targeted a huge market
segment for the product. Bangladesh is a large populated country. Lots of people are
looking for such a product. Palm tree are not available all the time. For example: a person
walking on the street. Suddenly he feels thirsty. Now if he wishes to drink Palm juice he
cannot find it easily. It is not always found in the right place at the right time. If we launch
our product in the market, a person willing to drink Palm juice can have it from a nearby
shop. At present this is not possible. Our target market includes health conscious people,
sick people, sportsperson & many other consumers, which we have segmented from
the Demographical, Geographical, Psychographical & Behavioral point of view.

We have prepared a financial documentation for this feasibility plan of a new product. As
we are introducing the product in three categories at 250 ml, 500 ml and 1 Liter bottles,
we have prepared the Break-Even-Analysis for each of the product line. We have
prepared the feasibility plan for five-year basis.

Page 1
 New Product

Product Description

Product Portrayal

‘THIRSTY’ is a product that serve different segment of customer. The product is Palm juice,
which is unique in the current market. The Palm juice will be processed and sold in glass
bottle of convenient sizes of 250 ml, 500 ml and 1 liter. The Palm juice will be very
much refreshing and provide great support to the sick and health conscious people.
Our target market is very large with different segments. Our expected sales are very high.
The development cost is tk.2.5 million approx.

Product Profile

Name of the Product: Thirsty Palm juice

100% Juice

Type of Product: Palm tree

Ingredients: Pure natural Palm juice, Less than 1% Fruit Sugar, mineral salts, vitamins C.
Container: Stylish glass bottle.
Container size: 250 ml, 500 ml, 1 Litre
Product Price: 250 ml for Tk. 16
500 ml for Tk. 30
1 litre for Tk. 58
Estimated Durability: 12 Months from date of manufactured.
Machinery used: Advanced technology imported from USA, UK and Netherlands.
Brand Slogan: Thirsty removes your thirsty.

Page 2
 Servings per Container

Calories 45g

Total Fat 0g

Saturated Fat 0g

Trans Fat 0g

Cholesterol 10mg

Sodium 2.5g

Potassium 4.5g

Total Carbohydrate 11g

Sugars 7g

Protein 0g

Vitamin C 30% daily value

Calcium 3% daily value

Magnesium 2% daily value

Phosphorus 1% daily value

*Percent Daily Values are based on a 2,000 calories diet.

*Nutritional content may vary slightly due to natural characteristics of our ingredients.

Page 3
Market Research and Analysis

Our company wants to develop and introduce a new Product. So, we have gathered
information through in-depth interviews. We made a survey of the market to have a clear
idea about our market, our customer demand, needs and wants. This information helps us
to know about the current market and prospects of our new product.

Market Description

Bangladesh is a country of about 160 million people. The total market size of the soft drink
and juice industry is about 30 million and day by day it is increasing. We have a spread
nationwide market of different convenient product. People are nowadays very much
concerned about the market and product conditions. So we have a growing prospect of
customers of “Thirsty”. Among the population we worked out few segments of customers
who will prefer our product most.

Marketing Organization

Page 4
Market Segmentation and Targeting

Market Segments
We have observed and analyzed the market and based on the nature of the market we
segmented the market in the following sectors:
Geographic Segmentation:
Sylhet
Rajshahi
Khulna & Barishal
Chittagong
Dhaka
Demographics
Individuals
Family
Sportsman
Business buyer
Psycho graphics
Higher class
Higher mid class
Middle class
Behavioral
Sick people
Health conscious
Sophisticated who take the new product from the market

Target market and projections

Analyzing all the segments, we decided our target market according to our product
category. The target customers of “Thirsty” are sick people, health conscious people,
sportsmen and tourists. The company decided to charge Tk. 16 for 250 ml bottles, Tk. 30
for 500 ml bottles and Tk. 58 for 1 Litre bottles, if we consider price versus taste received
then we can see that taste received is more in value. Therefore, charging the mentioned
prices are justified. The following graph gives a clear idea of our target market.

Page 5
 Market projection

25%
30%

15%
30%

Health concious sick people tourist General people

Target Market:

Health Conscious – 25%

Sick people – 30%

Tourist – 15%

General people – 30%

We separate our target market into four different segment based on their geographic,
demographic, psychographic and behavioral characteristics.

Health conscious: Health conscious people basically the sports person are one of our
largest target market. In this segment, we get a lot of potential customer. One third of our
total population is young. This is a significant number that we have to concern about them
and provide product, which is fit for them. About 5 million people of this total number are
health conscious. They spend about Tk. 500 in a month in average.

Sick people: Sick people are one of our major considerations. More than 1 million children
suffer from diarrhea that need liquid food. Not only child but also the adult might suffer
from those types of problems.

Tourists: Every year a huge number of tourists visit Bangladesh. We want to provide them
with “Thirsty”. Page 6
General Customers: Besides the above segments, the general customers will acquire a
significant portion of our target market.

Market Needs

“Thirsty” wants to satisfy its customers need. That’s why it is important to identify the
market needs. Our first consideration is to provide the best product to its customers. That’s
why we offer three different sizes of bottle with different prices for its different segment of
customers.

250 ml: The lowest price for the rural mid social class and individuals.

500 ml: Its target the sick people and tourist.

1 litre: For a small family.

Competitive Analysis

The Soft drink industry is very much competitive. Many soft drink companies have
acquired a significant portion of the market. But the unique features of “Thirsty” will take it
far beyond the reach of the competitor. Because, no one has yet thought about selling Palm
juice in such a specialized way. To evaluate our prospect of “Thirsty” in the current market,
we have analyzed the market situation in various ways. Following are some demonstration
of the analysis:

SWOT analysis:
The product existence in the future is depending on its strengths, weakness, opportunities
and threats analysis:

Strengths:
1.Available input materials
2.Low production cost
3.Technological and marketing knowledge
4.Strong distribution channel
5.Easy manufacturing process
6.Reasonable price
Weaknesses:
1.It is easy to copy the idea by others.
2.Taste differ from the natural Palm juice.
Page 7
3. Palm juice cannot be preserved for longer period .
Opportunities:
1.Monopoly market .
2.Large market .
3.High demand .
4.Might have a chance to get subsidies by Govt. to export .

Threats:
1.High competition in future by copying the idea.
2.Entrance of new product.
3.Alternatives are avoidable in some segment.
4.Uncertainty of launching a new product.

Competitor Analysis
The major soft drinks and juice companies of current market are:
 Pran Groups
 Starship
 Uro Cola
 7 UP
 Coca cola
 Pepsi
 Acme
 Danish
 Foreign Products etc.

Distinct Competency:
These companies can try to entrance our market by launching new product lines to
compete us. Yet, we have distinct competitive advantage. That is our product is still brand
new. The other companies will take sometimes to enter into the market. Till then we can
have a monopoly market condition. The other advantage that we have is lower price. We
will sell products in reasonably lower price then other competitors do.

Page 8
Strategies against competitors:

To compete with the major competitors, we can adopt the following measures:

Providing the best service to create high customer satisfaction.

Reasonable and acceptable pricing.
Promising and providing top quality product.
Launching highly effective mass promotional activities.
Continuous innovation and modification of the products.
Creating and maintaining long term customer relationship.
Creating “Brand Loyalty” among the target consumers.

Market Plan

Pricing Strategies

We have decided to set a reasonable price for our product when we will develop it. We
considered many factors in setting the pricing policy. We will describe a six-step
procedure:

Setting the pricing objectives:

Our company has decided where it wants to position its market offering. We have chosen
our objective to maximize market share. We believe that a higher sales volume will lead to
lower unit costs and higher long-run profit. We have set the lower price because we
assume that the market is price sensitive. Our overall objective is to capture the maximum
market share by setting lower price.

Determining Demand:

Each price will lead to different level of demand and therefore have a different impact on
company’s marketing objectives.

Estimating costs:

We have estimated the cost and want to charge a price that covers the cost of production,
distribution and selling the product, including a fair return for its effort and risk.

Page 9
Types of cost and level of production:

There are two types of cost: a) fixed and b) variable. In our new product development
project fixed cost is 2,00,00,000 taka. Fixed cost includes- machinery, yearly bills, and
salaries of employees and so on, regardless of output.

There are some variable costs like-cost of bottle, packaging and so on. These costs tend to
be constant per unit production. We have estimated that per unit variable cost is Tk. 7.3 for
250 ml, Tk. 14.6 for 500 ml and Tk. 26.4 for 1 litre.

Break Even Analysis

With a fixed cost of tk 20000000 and Average variable cost tk16.10.Company determined
average price for selling tk 34.67.The break-even point quantity is 1077006 units.

Analyzing competitor’s costs, prices and offer:

We have analyzed our competitors’ price and found that Pran charges tk.20 for 250 ml
bottle, Starship charges tk. 20 for 250 ml Pac.

Selecting a pricing method:

We have chosen the target costing method to set price for our product; pricing that starts
with an ideal selling price based on customer considerations, then target cost will ensure
that the price is met.

Promotional Strategies:
To acquire a strong position in the market, we need to give special emphasis on effective
promotional activities. In order to get the maximum market share we will have to use all
four tools of marketing promotion. Specially, advertising through mass media will support
us a lot.

Advertising:

We initially will give more emphasis on paper ads and TV commercials. Because,
advertising through these media is the most effective way to reach the customers and
position our product in their mind. We are anticipating that this will have a massive impact
on the teenagers and other enthusiasts. Few neon signs and bill boards of “Thirsty” also can
be set up in some core points of the city. We hope to reach 75% of our customers through
effective advertising.

Page 10
Personal Selling:
Though personal selling skill is not that much effective for convenient products like
“Thirsty”, we will inspire and train the sales persons of the retail stores to convince people
to buy our product when they will come to buy any drinks item. The sales persons will
inform the consumers about the cool refreshing taste of “Thirsty” and about the nutritious
aspects. We hope that will play a significant role to increase our sales.

Promotional Tools
We have also planned to apply some promotional tools. Initially for sometimes we will
distribute our product at 50% discount just make our new product familiar with the
customers. This will be the market-testing period for our product. Later, we may apply the
strategy of giving gifts, lucky coupons, tour tickets depending on the market and
competitive situations.

Public Relations:

We have future plans to hold seminars, commit social development, supporting social
activities, to arrange cultural functions and mobile game shows for publicity purpose.

Distribution Channel

In the initial stage, we will distribute the products with our sole distribution channel. When
our market will spread out, we will distribute our products through dealers. We will set our
own outlets in few core market positions. When we will go for mass marketing, we will
supply our product nationwide through dealers. Our dealers will take the products to every
district of the country. “Thirsty” will be available in all retail stores of the country.

Services

As we are targeting to the top most customer satisfaction and building long-term customer
relationships, there is no alternative for us rather than providing top quality service. Giving
the customers timely and instant quality service is our primary concern. We even planned
to open few customer service centers where will response to customers’ interactions. We
will collect information, suggestions, ideas and opinions of the customers through these
centers and will innovate and modify our product accordingly. We also will change any
defected product.

Page 11
Manufacturing and Operations
Locations

We will set our manufacturing and other working areas in convenient locations. We will
prefer the locations to set up our manufacturing firms, warehouses and inventories in
different core business points of the country where it will be easier to both collect the raw
materials and transport the final goods to the market.

Human Resource

The board of directors will be responsible for the recruiting activities. Recruiting will be
done through written tests followed by interviews.

Technological Aspects

To create and innovate new quality products we need to use advanced technology. We need
high tech machineries imported from the foreign countries. Not to mention, skilled people
to operate them. We have already studied all the technical aspects and prepared a list of
instruments and their costs. The machinery will be collected when required.

Financial Analysis and Documentation

Sales Forecasting

The following Table and graph show our expected sales for the coming five years:

Expected 250 ml. Bottle 500 ml. bottle 1 Litre bottle

Sales(Per year)
First Year 4000000 4500000 1500000
Second Year 4500000 5000000 1700000
Third Year 5500000 5800000 2000000
Fourth Year 6000000 6500000 2400000
Fifth Year 6300000 6700000 2500000

Page 12
Control
We are planning tight control measures to closely monitor quality and customer service
satisfaction. This will be enable us to react very quickly in correcting any problems that
may occur. Other early warning signals will enable us forecasting the monthly sales and
monthly expenses. Given that market’s volatility we are developing plans for certain
changes and competitions.

Conclusion :
We have discussed the full description of the marketing plan of our product. Actually
preparing marketing plan for a product helps to promote organization recognition and
enhance product selling. We have tried our best to prepare our report. We think this report
will definitely help to achieve business ideas for the new comers and students. The report
will help to get idea for the development of social, economic and nation. Every person and
organization has some responsibilities to the nation and the country. Having these
responsibilities we thought of such kind of product which would be a useful product for the
targeted consumers and profitable for the company. That’s why from many ideas we have
selected the idea of this new product by developing financial situation of our country. So,
we can say that the product “Thirsty” is a product by which we can earn a huge profit and
fulfill our national responsibility.

Page 13
Reference
https://adacted.com/new-product-marketing-plan-guide/
https://www.wikipedia.org/
https://www.slideshare.net/
https://instagantt.com/

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