An Assignment on

Business plan of “Pure Honey”

Submitted to
Sazzadul Hoq Farin
Senior Lecturer
Dept of BBA

Submitted by

Name ID
Afsaruzaman Rumi 2018110000050
Habibur Rahaman 2015110000261
Kawsar Ahmed 2017010000032
Yeasinur Arafath Shoron 2015110000366
Emdadul haque promel 2015010000131

Company Name
 “Five Bee”

Company Logo

Product Name

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 Product

TABLE OF CONTENT

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 Particular Page No
Executive summary 5
Introduction 6
Product Description 7
Industrial Analysis 8
Competitor Analysis 9
SWOT Analysis 10
Segmentation Of Consumer 11
PESTEL Analysis 13
Target Market 15
Packaging 16
Product Pricing 17
Advertising and Promotion 18
Distribution Channel 19
Conclusion 20
References 21

EXECUTIVE SUMMARY

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Pure Honey is sustainable, high quality, pure and natural raw honey. It is
the new and first product of Five Bee which is the hypothetical start up. We
are going to bring it to market.
We have set a reasonable price for the product so that all kinds of people
can afford to buy. We have targeted a huge market segment for the
product. Bangladesh is a large populated country. Lots of people are
looking for organic Honey. If we launch our product in the market, a person
willing to buy it from a nearby shop.
It is the overall plan to enter the domestic market with its quality full processing
method and quality of product.

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 INTRODUCTION
Now a day in the competitive world practical experience is must. It is possible to
gather theoretical knowledge by passing through book but it is insufficient to
acquire practical experience.

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 PRODUCT DESCRIPTION

Our company will collect honey from various places and processes them
into honey extract. and then finishing the product by packaging. As we
know Sundaran is the largest mangrove forest in the world. And it’s known
for many things but it’s also famous for producing honey as well. Our
company will hire people from that area so that they can easily collect
honey from the forest. And he collected raw honey combs will be brought
back to the company to refine it and then it will be ready for packaging will
try to get verities of honey flavor. From many private organization we can
collect honey. there are many honey producing farm is growing here. We
can collect raw honey from them. Our main goal is to find out where this
honey is easy to get. and our objective is to get those raw honey and by
processing it into standard sellable level honey.
For the marketing purpose of the product we have decided to launch four
types of honey with three product lines. The "Pure Honey" would be
launched in the market at 250 ml, 350 ml and 500 ml glass jar.

We re going to start with 4 types of honey-

• Khalshi type (Sundarbans Honey)
• Mango type
• Mustard type
• Jujube type

INDUSTRIAL ANALYSIS
In Bangladesh there is no well-known or well establish Honey Company. The
main source of honey is either from local honey or exported honey. There vast
amount of people who collects honey from forest or village and sell it with the
honey combs or they bottle the honey and then sell it. But they roughly maintain

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any safety standard or any quality control. And most of them aren’t even
registered company under BSTI.
Some Bangladeshi local companies are-

The second main base of honey comes from abroad. we export honey
from many countries but we meanly export honey from India. There are
some well recognized company from where our country exports finished
goods.
Some well-
known
Indian
honey
exporter
companys
are-

COMPETITOR

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Competitor 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 than other competitors do.

Strategies against competitors:

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

• Providing the best product to create high customer satisfaction

• Reasonable and acceptable pricing

• 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

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 SWOT ANALYSIS

SEGMENTATION OF CONSUMER
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There is no fixed rule to categories’ any segmentation of any company .But we
can define them into two different way those are demographic and geography
way. Market segmentation is in many ways logical consternation of the rapid
growth of technology and differentiated demand for product and service. In
international companies the advantages of market segmentation appear
potentially .Because of different in the geographical, cultural, economical
political environment. All this component effect the product’s market greatly.

Demographic: A basic way of segmenting customers is by a standard set of

variables that are called demographics. The product honey target’s all kinds of
customers of every calluses and every kind of gender and age.

• Age: Different ages of people have different needs and desires. Honey is
are product that can be consumed by all ages of people. From age 3 to
all age’s people can eats honey.
• Gender: Man and women are different not just in appearance but also in
what product they use and what they like to eat. May women like to use
honey to control their body weight and screen care.
• Nationality: Not only in Bangladesh in almost every were in the world
honey is well known product. From the primitive time honey is used as a
holy item in many countries like Egyptian culture, Rome city. Even in
Egyptian pyramid people found honey. In many countries people use
honey to make delicious descents and many kind a food.
• Religion: IN many religion honey is a holy ingredient.

Geographic segmentation of consumer:

This segment includes many geographical differences. Those are given below:

• Climate: At winter season increase the demand of honey. Bangladesh is

monsoon climate. That’s why the production this product will be easy to

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 build. This climate is also suitable for this honey and for the customer
cause they can use this item in every time.
• Area: There is a huge demand of honey in Bangladesh. Whole
Bangladesh is our market. We can sell our product in all over
Bangladesh.
• Population: Bangladesh has huge population. Population is the key of
market augmentation. Huge population means huge demand of the
product .If we can use our product properly then we had a great market.

Behavior Factor:
Health conscious people are one of our largest target market. May women like
to use honey to control their body weight and screen care.

Psychographic:
After all we divided the market into group based on customer knowledge,
attitude, use or response to a product.

Its segmentation bases on-

 Gender (men & women)
• Social class (Upper, middle and lower)
• Density (urban area and city area)

PESTEL ANALYSIS
PESTEL analysis is a framework or tool used by marketers to analysis and
monitor the macro-environmental (external marketing environment) factors that
have an impact on an organization.

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Political: We will begin with Political impact on Pure Honey. There are strong
laws for health food. There is less political violence in Bangladesh then other
developing country. A government support entrepreneur to starting new
business by providing loan and less tax.

Economical: As a developing country Bangladesh’s economic growth rate is

higher. Economic condition is on favorable us.

Social: In Bangladeshi culture honey is a well-known food for over thousands

of year. There is various types of use of honey in our culture and is
automatically creates its own demand.

Technological: At this technological world honey is known as medical food. In

medical treatment there is various types of use of honey. And we are using
different kinds of technology to refine, packaging and marketing.

Environmental: Bangladeshi environment is suitable for honey market and

production. There is huge demand of honey and we get much world class raw

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honey naturally from Sundarban. It is a big opportunity for us. We have to take
advantage from this opportunity.

League: In Bangladeshi law there is no barrier to produce honey bus there the
strong law against consumer health and safety. We have to ensure 100% pure
and natural honey. And we have to control the quality of product.

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

Health conscious: Health conscious people 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. Some people use honey
as alternative of sugar.

Sick people: Sick people are one of our major considerations. More than 1
million children suffer from Numina, Cold and Cough and honey is the general
treatment of its. Not only child but also the adult might suffer from those types
of problems.

Who Cooks: Honey also use to cooking or making different types of pastry.
Test loving people are also our customer.

General Customers: Besides the above segments, the general customers will
acquire a significant portion of our target market.

PACKAGING
In terms of attracting customer attention, design of packaging must be must be
unique and creative. We try to make our honey jar label unique. The physical
quality of packaging in materials is very important for maintaining quality. So we
use glass jar and metal cap to keep the quality of honey.

Packaging Design:

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 Product Pricing
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.

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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.

Analyzing competitor’s costs, prices and offer:

We have analyzed our competitors’ price and found that “Dabor Honey”
charges tk.400 for 250 ml bottle, “Alwan” charges tk. 350 for 250 ml.

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.

Selecting the Final Price:

There are two types of cost fixed cost and final cost. Fixed cost includes-
machinery, monthly bills, and salaries of employees and so on, regardless of
output. There are some variable costs like-cost of Glass Jar, Promotional Cost,
Marketing cost, Packaging and so on. These costs tend to be constant per unit
production. We have estimated that per unit variable cost is Tk. 200 for 250 ml,
Tk. 350 for 500 ml

Advertising and Promotion

To build up 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 those tools of marketing promotion.
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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. We will
take advantage of social media we also use Facebook, YouTube, Twitter for
promoting our product. We hope to reach 75% of our customers through
effective advertising.

Sale Promotion:
We will use sales promotion tools like coupons, contest, discount for stronger
and quickly market response. 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

Public Relations:
We have future plans to hold seminars, commit social development, supporting
social activities, to arrange cultural functions and medical camping, health
awareness program for publicity purpose.

Direct Marketing:
Through mail, e-mail, phone call, text message we will promote our product to
its actual customer. We will collect data of consumer for direct marketing by
arrange health food related program.

Personal Selling:
Though personal selling skill is not that much effective for convenient products
like “Pure Honey”, 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 health
item. We hope that will play a significant role to increase our sales.

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 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. “Pure
Honey” will be available in all retail stores of the country.

At Initial Stage:

Pure Honey Consumer

At Growth Stage:

Pure Honey Retailer Consumer

Mass Marketing Stage:

Pure Honey Distributor Retailer Consumer

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 Mission and vision statement

Our mission is to reach to the top of the consumer goods sector by reducing
the cost of production and distribution by using smart production and
distribution strategy. We will ensure our quality with low price which is going
to be our competitive advantage. And if we can continue, this will take us at
the top of this sector and our vision is also clear we want to help our-self by
self employment and it will create job opportunity for others

Financial Projection
Financial Plan for Pure Honey Business:
Financial Plan

Honey price range Tk. 200 to

per bottle Tk. 500

Tk. 150

Owners Investment Tk. 400000

Friends and Family Tk. 300000

Total Tk. 700000

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Break even Analysis:
a. We consider our business life 5 Years
b. Fixed cost for monthly= 289000÷5×12= 4816.67Taka
c. Average Selling Price (Per Unit) = 300 Taka
d. Variable Cost (Per Unit) = 98Taka
e. Break Even Point = 4816.67÷300-98= 46.088
f. Break even sale = 4816.67÷300-98/300= 15.72 Taka.

CONCLUSION
Pure Honey is the new and first product of Five Bee which is the
hypothetical start up. We are going to bring it to market. We have
discussed the full description of the marketing plan of “Pure Honey”.
Actually preparing marketing plan of new product help to promote that
product and increase sell. We have tried to best to prepare our marketing
plan. We describe the marketing strategy and analyze the market in depth
in this paper.
So we can say that this marketing plan will help us to entering the competitive
market and making profit.

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 REFERENCES
1. Lecture Sheet - entrepreneurship (SEU)
2. Banglapedia – Honey in Bangladesh
(http://en.banglapedia.org/index.php?title=Honey)
3. Daraz – Honey (https://www.daraz.com.bd/honey)
4. Dhaka Tribune - Local and foreign brands race to grab large honey
market (https://www.dhakatribune.com/business/2019/03/04/local and-
foreign-brands-race-to-grab-large-honey-market)
5. Daly Sun - Honey Bee Farming
(https://www.dailysun.com/printversion/details/281378/2018/01/12/Honey
-BeeFarming:-Production-Potential-And-Challenges)
6. Linked in – Honey's supply chain in Bangladesh
(https://www.slideshare.net/ShahinuzzamanShahin/honeys -supplychain-
in-bangladesh-63985825)
7. The Daily Star – The taste of honey
(https://www.thedailystar.net/city/news/taste-honey-1748503)
8. Trade Ford - Honey Suppliers in Bangladesh
(https://bangladesh.tradeford.com/suppliers/honey)

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