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1.0.
5.0.
6.0.
7.0.
1.0.
2.0.
3.0.
4.0.
Square Consumer Products Limited, has started its journey in 2001 as a member of
Square Group, the leading corporate house in Bangladesh. Within a short span of
time, it has been able to create a strong foothold in the market through its quality
products and customer services. For its obsession with quality management, the
company had obtained the international quality standard ISO 9001 in 2005. Strong
commitment to quality, adoption of advanced technology, stress on human resource
development, focus on continuous improvement and introduction of new products
for the growing markets have given the company a decisive position in the industry.
Recently the company achieved ISO 22000 for its food safety management system.
Square Consumer Products Limited has introduced three popular brands in the
market namely Radhuni, Ruchi and Chashi. Radhuni is the flagship brand of the
company. Just after its introduction, Radhuni drew the attention of housewives who
demanded convenience and time saving cooking. The product range of Radhuni is
enriched with basic spices, mixed spices, cereals & pulses based products, edible oil
and dairy. On the other hand, Ruchi is providing ready-to-eat snacks like Chanachur,
Fried Dal, Banana Chips, Jhuribhaja, Peanut, Chutney, Pickles and Honey. Ruchi has
won the heart of the youngsters for its healthy, tasty & innovative ground breaking
products.
The new brand of the company, Chashi is the landmark of those products which are
collected directly from the farmers having the indigenous essence and freshness.
The company assures to meet the increasing demand for quality products both at
home and abroad. The products with international standards are being exported to
more than 22 countries. Dedication to quality, innovative products, customer
service and reasonable price has given the company a unique position in the food
market.
In this respective study, we will discuss the marketing strategy of one the popular
brands, Ruchi Munching, of Square Consumer Products Limited.
1.1.
Product Description
munchies. The amazing taste of Ruchi Fried Dal will keep you
coming back for more after your first trial.
Available pack size: 30g
1.2.5. Jhuribhaja
The crispy and crunchy taste of Ruchi Jhuribhaja will never fail to
satisfy your taste buds. Made from fully automated machinery
and under the strict supervision of quality controllers, Ruchi
Jhuribhaja is one of the best tasting snacks you will ever have.
Available pack size: 30g
1.2.6. Peanut
Peanut is the first ever baked peanut in Bangladesh. Those who
want to enjoy healthy snacks with oil free peanut taste, Ruchi is
their first choice. Oil free baking process enhanced the healthy
taste of modern lifestyle.
Available pack size: 35g
amazing hot & sweet taste besides all the nutrients of iron,
protein etc.
Available pack size: 20g
1.3.
Competitor
Ruchi
Market Share
(%)
55%
Pran
25%
ACI Pure
10%
Tiger
3%
1.4.
Strengths
Weakness
Some consumers
perceive our
products to be of
high price.
Considered as
cheap products,
Made headlines for
adulteration.
Limited presence
in the media, lack
of awareness in
the mind of
consumers.
Lack of national
availability,
Consumer cannot
recall the brand,
Established itself
as a regional
brand, No
presence in any
communication.
Distribution
1.4.1.National Presence
Ruchi Munching is maintaining a strong distribution network in
the country. At present a total no. of 232 (Two Hundred Thirty
Two) highly experienced distributors are engaged to market the
products throughout the country.
1.4.2.Global Presence
Square Consumer Products Limited is strengthening its export
operations to become a high performing global player by
supplying quality food products at reasonable price. Its products
comply with international phyto-sanitary requirements. Starting
2.0.
3.0.
3.2.
Company Objectives
To continue to provide the very best of what the consumer wants.
To explore new segments of market and to cater to it.
To continue to assure intrinsic quality of hygienic food products
To enhance consumers' standard of food habit
To ensure that the products are available at consumers' doorsteps
To enhance the strength and skill of the organization that will
contribute to company's increasing growth both in domestic and
global markets.
Financial Objectives
4.0.
Distribution Strategy
Ruchi will follow the existing distribution strategy and network. Currently,
they are using separate distribution channels for retailers, different
institution, and bulk buyers like super shop, hospital, canteen etc.
To reach the above organization Ruchi have the following distribution
system:
Factory
Outlets/Institu
tes
Consumer
To reach all over the country Ruchi have the following distribution
system:
Factory
Distribut
or
Retailers
Consume
r
5.0.
Action Plan
Strategy
Strategic Use: ATL & BTL
Media
Radio Media
Print Media
Tactical Plan
TVC, Pop-up, L-shape
Strategic Branding
Strategic Time Slot
Own Program/Reality
Show
RDC
Strategic Branding
Strategic Time Slot
Community Radio
Supplementary
Local Newspaper
Consumer Interaction by
Magazine
Creative Ad in Magazine
Digital Media
Outdoor Media
Electronic Media:
Ruchi will prepare two new TVC for Ruchi Chanachur and Ruchi Fried Dal
separately, and promote these two products as category leader. In between,
Ruchi will make one TVC on the whole Ruchi Muching range to promote the
whole range. These TVC will communicate the message that Ruchi ensures
purity which will deliver you desired taste, and color from generation to
generation. Another new TVC will be made which will be on the hardship and
dedication from Square member to deliver the finest quality Ready-to-Eat
snacks to the consumers. One TVC will be made for promoting CP program.
Press & Magazine
New press ad design will be developed for supporting new campaign. New press
ad design will also be developed for CP program. Major newspapers and
magazines will be used for press and magazine campaign.
POS/POP
Merchandising is silent sales man- therefore we want to emphasize on proper
merchandising of our products at outlets. Besides POS, material will be
developed in support of new TVC campaigns and CP program.
Outdoor
In 2015, Ruchi will install 500 new shop boards. Besides, we will also go for
bazaar branding in Chittagong and Sylhet. Few new billboards will be taken in
2015 at Chittagong city; Ruchi will also renew the existing billboards, Passenger
sheds, Light boxes, Gondolas, Transit ad and Shop Signs.
CP program
Consumer Promotion (CP) program will run for two months from June15 to
July15. This period is chosen targeting the Ramadan period. The objective is to
give consumer extra benefit during Ramadan when maximum consumption of
powdered spice is occurred. Besides this Consumer Promotion (CP) will conducts
at different Superstore in Dhaka City to fulfill the same purpose.
6.0.
Recommendations
There are good numbers of brands coming with the same proposition of good
quality, so Square Consumer Product Limited (SCPL) is heading towards an
immense competition in near future. In the backdrop of the above findings the
following recommendations can be made:
Majority of the consumer believe that the price of Ruchi is high. Because of its
quality, SCPL should consider value based pricing instead of competitive and
cost based pricing.
To increase the efficiency of the dealers, SCPL can offer special trade
promotions such as incentive, bonus, and foreign tours and so on, for the best
performers.
The promotional effort of SCPL is satisfactory and it should be continued. At the
same time, they can adopt creative advertising to differentiate their products
from others.
SCPL need to increase the media presence to create new customer base and
remain in customer mind
To hold and create new customers of Ruchi Munching, SCPL should consider the
following:
Conducting frequent customer survey
Developing new user group
Launching new value adding products
Identifying new overseas market for further increase in export SCPL need to
increase their promotional expenses and it should execute the action plan
properly.
SCPL is holding the maximum market share with Ruchi. It maintains its leadership
through well-planned action program, motivated and trained personnel and by
projecting a favorable company image among the customers. Under intensifying
competition in the market and changing attitudes towards the branded spice
powder, SCPL should consider the above recommendations.
7.0.
Conclusion
customer services and competitive price has given the brand a unique position
in the food market. So it can be said that Ruchi has created the branded Readyto-Eat snacks market. As consumers are shifting towards branded products, the
market size of Ruchi is increasing very fast.
Bibliography:
1. Kotler,Philip. Armstrong, Gary.2008. principles of Marketing, Pearson Prentice
Hall, United State of America
2. Mallhotra, Naresh.K. 2003. Marketing Research, Prentice Hall International,
United State of America
3. www.theepicentre.com Crosby, M. R. (2008). "Senna," Microsoft Encarta
Online Encyclopedia 2008. Retrieved from
http://encarta.msn.com/encyclopedia_761561243/Senna.html
4. Retrieved from World Wide Web:
http://www.celtnet.org.uk/recipes/roman.html?
PHPSESSID=26caf3bc35486152e548b7b2dc0eb0bd) "Spices," Microsoft
Encarta Online Encyclopedia 2008.
5. Retrieved from World Wide Web:
http://encarta.msn.com/encnet/refpages/RefArticle.aspx?refid=761564609
/spices.html on 25.05.2008
6. Retrieved from World Wide Web :
http://www.foodproductdesign.com/articles/herbsand-spices.html
7. www.squarefoods.com.bd (official website of SCPL)
8. Bangladesh Bureau of Statistics