Marketing Plan

1. Introduction
I am a student of Masters of Business Administration 1st semester. As a part of Marketing Management course, I have to do a marketing plan on a new product. This is an overwhelming opportunity for me to learn the how to write a successful marketing plan. 1.1 Origin of the Report Our Course instructor assigned us to make a marketing plan for Marketing Management course. It is necessary to know how to make a marketing plan, because when we start any business first we have to make proper marketing plan. I marketing plan is on carrot juice and the business farm is Merriment Ltd. 1.2 Objective The objective of this marketing plan is able to fulfill the requirements of Marketing Management course. The main objective of this marketing plan is to get the knowledge about how to conduct a marketing plan and its implementation. 1.3 Scope There are many opportunities to make new businesses. The raw materials are very simple and available around us. As well as there are, demand also. So, we used the scope is to take the opportunities and do a carrot juice business by introducing new Merriment Ltd for the people. I have tried our level best to gathering the information regarding this type of business. 1.4 Methodology First, I have to follow the guidelines of our course instructor Shahin Ahmed Chowdhury. I collect some information from the internet and I conduct a survey among the students. Finally, analyze this information to complete the marketing plan. 1.5 Limitations To prepare this marketing plan I have faced lots of limitations, obstacles etc. At times, I Ire thinking that I might not be able to submit the business plans on time. However, thanks to Almighty that it was not happen. The limitations are: Cost limitations Time limitations Unavailability of information Inaccurate of data Page | 1

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In cooperation of respondent

2. Product Overview
The name of my company is Merriment Ltd which is a manufacturer of carrot juice. The product name is Merriment Carrot Juice, which is very beneficial for the health conscious generation. This company will be started next year and the location of Merriment Ltd will be in Gazipur.

2.1 Objectives of Merriment:

The main objective of Merriment Ltd is to provide pure and natural vegetable (carrot) juice to the customer that is why customers become beneficial by having this.

3. Product Description
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This is a picture of carrot juice milk, which contains both carrot, and milk. Both of the ingredients of the juice are very healthy and useful for human body. This products price should be Tk 30 for 250ml and Tk 45 for 500 ml. Target customer of this product are the health conscious generation.

3.1 Features and Benefits of Carrot Juice: Features Benefits

1) An eight ounces of carrot juice can 1) Vitamin A is essential and necessary for contain as much as 800% of once daily tissue growth, especially within the bones. recommended dosage of vitamin A. Deficiencies in Vitamin A can cause dryness and damage to the skin, nails and hair. Drinking carrot juice to produce Vitamin A is said to benefit many different parts of the body. Vitamin A also strengthens bones and teeth. 2) Carrot juice contains high amounts of 2) Carrot juice is thought to reduce the beta-carotene. Beta-carotene changes to risks of many different types of cancer Vitamin A in the body. including skin and breast cancer. The cancer-fighting properties of carrot juice are often thought to be excellent due to the high amounts of beta-carotene. 3) Carrot juice is also an excellent smyce of 3) So carrot juice which provides vitamin vitamin C. C, that has a wide variety of uses throughout my entire body, such as collagen production of the mucous membranes, skin, bones, and teeth. Vitamin C is also a very crucial antioxidant. 4) Carrot juice is an excellent drinkable 4) So carrot juice is very important in smyce of potassium. helping to maintain a healthy electrolyte balance and fluid level in the cells of ymy body. 5) Carrot juice also provide calcium which 5) It is very important to receive a healthy is very necessary for the body. level of calcium in once daily diet. Bones and teeth are dependent on calcium for growth and formation, especially the skeletal structure and development of children. 6) It also contains vitamin E. 6) Drinking carrot juice is also thought to be good for reproductive health due to the Vitamin E content. This vitamin E is also very important for beautiful hair and skin.

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4. Market and Industry Analysis

4.1 Opportunity analysis: Factors Market size Market Growth Availability of Technology Availability of Raw Materials -Price of Raw Materials Availability of Infrastructure, Location - Price of Location Chances of Making Profit Here, 5 = Very high 4 = High 3 = Average 2 = Low 1 = Very low Market Size: Market size of Carrot juice is average. Because in my country health conscious people are not so high in number, they remain at moderate number. Market Growth: Market growth is also at average level because market size is in average context. Availability of Technology: Technology of making carrot juice is available here. Availability of Raw Materials: Carrots are highly available in my country. For this reason, raw materials are also highly available here. Price of Raw Materials: Because of raw materials, highly availability price of raw materials remains low. Availability of Infrastructure, Location: Infrastructure and locations are available for Merriment Ltd. Price of Location: Price of location is moderate. Chances of Making Profit: Chances of making profit is high because day-by-day people become more health conscious. 4.2 Industry analysis: Page | 4 Carrot Juice 3 3 4 5 (2) 3 (3) 4

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Agriculture industry in Bangladesh accounts for about 22% of the gross domestic product (GDP) and another 33% of GDP is contributed by the rural non-farm econoI, which is also linked to agriculture. Thus, agriculture and rural non-farm econoI are the main smyces of livelihood for rural people. Despite substantial progress in overall poverty reduction, about half of the population still lives below the poverty line. With almost 85 out of 100 poor people living in the rural areas, poverty in Bangladesh is largely a rural phenomenon. Improved economic performance of the agriculture and the rural non-farm sectors is, therefore, critical to reducing poverty. Progress in agriculture, which was led by market reforms, high yielding varieties, fertilizer use, assured irrigation through shallow tube Ills and boro season rice, was also responsible for near self-sufficiency in rice production which was considered only a distant dream in early 1970s. The Ministry of Agriculture is working to develop the agricultural sector of Bangladesh through numerous projects and agencies. This ministry addresses to the highest number of stakeholder in the country. The business scope ranges from crop development to agrobased industries with research on agriculture, agricultural engineering and agroeconomics. The economics of Bangladesh is predominantly agricultural. Since the birth of Bangladesh, the country has achieved an incredible growth in food production and reached towards self-sufficiency by the year 1990. About 80 percent of the total population lives in rural areas, and 62 percent of them are directly, and others are indirectly engaged in a wide range of agricultural activities. The agricultural sector contributes around 29 percent of the country's Gross Domestic Product (GDP) and generates employment for 63 percent of the total labor force. The general agricultural sectors are Rice crops, Jute, Cotton, Sugarcane, FloIr, Sericulture, Horticulture, Fisheries, Vegetables, Livestock, Soil Development, Seed development and distribution. Nuclear Agriculture has brought a new dynamic change in the agricultural sectors of Bangladesh. This grand success has mainly been brought by the farmers through using modern technologies developed by research organizations and effective Agricultural Extension Services of the Department of Agricultural Extension (DAE). BADC is entrusted with the task of multiplication, production and supply of high-yielding varieties of seeds. It has 21 Seed Multiplication Farms and 15 Contract GroIrs Zones for this purpose. Later, Seeds are mechanically processed in 12 Seed Processing Centers in and around the seed production zones.

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4.3 Competitive Environment:

QualityProduction FeaturesUnique Product or Service quality Distribution System
ShareMarket H H L M

Marketing / Advertising

Company name

Transcom Beverage Agricultur e Marketing Company Limited Partex Group

Pepsi, 7up, Mirin da Pran RC Cola, Lyche na, Danis h Mojo, Lemu, Frutik a

Akiz Group

If we see the matrix, here in Transcom beverage, Pran group, Partex Group and Akiz Group has some low factor. Those are unique features, distribution system, Marketing / advertising, Geographic Location and Market Share. Therefore, it could be competitive advantaged for my company. By making attractive feature, improving distribution system and providing best marketing to all of the people, we can make profit and take a good position in market.

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Geographic Location L L L L

Packing

Brand

Marketing Plan

4.4 Market Size and Growth: I consider Gulshan area for my product. Gulshan thana area is considered as the New Dhaka where most of the foreign missions are located. Besides, it has been developed as a major residential area. Population 156603; male 54.95%, female 45.05%; Muslim 93.65%, Hindu 4.88%, Christian 1.38% and others 0.09%; population density per sq km is 3828. 4.5 Target Market: Target customer is all educated and health conscious generation of Gulshan area. Three are Literacy and educational institutions Average literacy 59.7%; male 66.4% and female 51.2% and 35% people are highly or all educated. I choose these 35% Ill educated people for my product. This carrot juice is mostly for teenage, young, health conscious people and older people. 4.5.1 Sales analysis Per year Revenue: 50896*26*30 =39698880 Tk (Here 30tk is per bottle cost and customers consume one juice in every two Ieks) Per month Revenue: 39698880/12 =3308240 Tk

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5. Marketing Plan
5.1 Target Market Strategy: My target market is health conscious generation of Gulshan area of Dhaka. I chose single segment Strategy to select my target market. Carrot juice is a new concept in our country. To make aware of the people of the country about carrot juice and its advantage I have to step forward step by step and my business which I will gong to open in near future is small concern. So it is not possible to pick all general customers and I have to focus on specific customer group. Thats why choose single segment strategy. 5.2 Marketing Mix: 5.2.1: Product-The product is titled Merriment, carrot juice. It is superior in quality and taste. The juice contains uniform carrot pieces which gives the juice an all original and natural taste. It is pure orange in color, exactly the color of juice at the time of extraction. It does not contain any sort of additives such as added sugar and preservatives, just purity. 5.2.2: Pricing: As I are targeting the health conscious generation of Gulshan area the price must be affordable to consumers. Consumers are ready to shell out little extra money for the exotic and classic drink that has many health benefits. Merriment carrot juice will be priced as follows: 250 ml = T.K. 30 500 ml = T.K. 45 5.2.3 Promotion: The promotional efforts will be on two fronts i.e. on my direct customers and the end consumers. Advertising: Advertising will be exercised with a media mix, which will consist of: Print Media: Print Media will be used in the form of news papers of various languages. Print media will be mainly used with a purpose of communicating and complimenting my sales promotion schemes to pursue and gives us visibility. Budget: 5000tk Audio: FM Radio will be a key element in my media mix as it is cost effective and will cover my target market. This will help us reach out to my target audience and the influencers. Budget: 8000tk

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Marketing Plan

Transit Advertisement: Posters will be created by the company during the events and will be carrying the company logo, brand name, the picture, and the tag line. These posters are used for transit advertisement. Budget: 5000tk 5.4 SWOT Analysis: Strengths: Innovative flavor hence Merriment is bound to get the attention with proper communication. Committed, capable and ambitious management. Merriment can gain incentives and capture more market. Flexibility in the operations as initially Merriment will be confined to Gulshan area so it can focus its efforts on the tasks.

Weakness: Merriments distribution set up initially will be weak when compared to the others in the market. Carrot juice is new in the market and not all people take the risk of experimenting with taste. Opportunity: The market is in a growing stage and fairly small in terms of market share as compared to other thirst quenching and healthy drinks so at this stage my entry is expected to be noticed. The market has a presence of only few players and they are not too aggressive in their acts. More and more people in the urban areas are getting health conscious and are making vegetable juice a part of their daily diet. Hence the market is growing. The government policies are expected and are showing trends to encmyage the food processing industry.

Threats: The competitors have strong brand images in the market because of their other businesses and their presence in the market from an early stage. Bangladesh market has characteristic of serving a wide variety people, which is a challenge for all the marketers. Page | 9

Marketing Plan

Others can adopt the flavor and the value of a unique flavor could be neutralized soon.

6. Management plan
Organization chart: In my company, there are nine employees. Five are director, three are workers and one is mechanic engineer. The organizational structure is the overview of an organization it reflects the business nature, business type, responsibilities and the organizations overall picture. The Merriment Ltd. organizational structure is designed with few common functional departments of the organization.

Definition of the Organogram Short Notes CEO = Chief Executive Officer HOFA = Head of Finance & Accounting HOT = Head of Technical HOM = Head of Marketing HOO = Head of Operation Page | 10

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HOFA = Head of Foreign Affairs

7. Financial Plan
8.1 Capitalization Plan: Initial start-up cost: Equipment & machinery = 182000tk Furniture & Fixture = 130000tk Legal & Professional Fees = 3000tk Vehicles = 300000tk Other cots and services = 20000 Total initial start-up cost = 635000tk Fixed Operating costs: Insurance = 4200tk Operating loan payments = 20000tk Phone = 5000tk Rent = 120000tk Variable Cost: Advertising = 28000tk Building & equipment maintenance = 20000tk Employee wages = 150000tk Utilities = 4000tk Other supplies & purchases & expenses = 75000tk Total operating cost = 426200tk Total estimated start-up costs: (635000+426200) = 1061200tk Recommended start-up capital required (add 25%) = 1061200*25% = 1326500 tk. 8.2 Uses of fund statement: Merriment has to take 1000000 taka bank loans. From these bank loans 700000 tk utilized for factory machinery and office equipments and rest of the bank loans are utilized for other purposes. There are five directors in this company. Each director gives 200000 tk to establish Merriment. Page | 11

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8.3 Pro-forma statement: Pro Forma Income Statement 2010 2011 Sales 39698880 42080812 Direct Cost of Sales 1984944 841616.24 Other 0 0 ----------------------Total Cost of Sales 1984944 841616.24 Gross Margin 37713936 41239195.7 6 Expenses: Payroll 8336764.8 3366464.96 Sales and Marketing and Other 1190966 420808 Expenses Depreciation 0 0 Legal Fees 300 300 Utilities 3,600 3,600 Insurance 4,200 4,200 Mortgage 1587955 420808 Payroll Taxes 1190966 420808 Other 0 0 Total Operating Expenses 12306652.8 4628889.32 Profit Before Interest and Taxes 25010294.4 36610306.4 4 Interest Expense 1587955.2 420808.12 Taxes Incurred 5954832 8836970.52 Net Profit 17467507.2 26931719.6 8 Net Profit/Sales 44.04% 64.23%

2012 44605660 446056 0 -----------446056 43713546.8

2230283 446056 0 300 3,600 4,200 446056 446056 0 3568452.8 40591150.6 36,131 10259301.8 30193571 67.69%

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Pro forma Balance Sheet Assets Current Assets Cash Accounts Receivable Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth 2010 1326500 66325 79590 1472415 756105 0 756105 2228520 2009 79590 212240 212240 490805 1127525 1618330 0 (902020) 1512210 610190 2220520 610190 2011 1459150 29183 14591.5 1517516 145915 0 145915 1663431 2010 29183 43774 43774.5 116732 145915 262647 0 116732 1269460 1386192 1663431 1386192 2012 1605065 32101 16050 1637166 64202 0 64202 1701369 2011 32101 16050 16050 64202 32101 96304 0 609924 995140 1605065 1701369 1605065

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Conclusion
The product is titled Merriment, carrot juice. The main objective of Merriment Ltd is to provide pure and natural vegetable (carrot) juice to the customer thats why customers become beneficial by having this. Market size of Carrot juice is average. Technology of making carrot juice is available here. In my country, carrots are available so I can get raw material so easily. This products price should be Tk 30 for 250ml and Tk 45 for 500 ml. Target customer of this product are the health conscious generation. This business plan of Merriment carrot juice I can say that Merriment Ltd. If Merriment could capture its target customer then it will increase its range of business and also increase the variety of products means variety of vegetable juice.

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