EAST WEST UNIVERSITY

Faculty of Business Studies Department of Finance

3nd year 1st Semester.

4th Batch

GROUP DETAILS
Group Name: ENLIVEN
No 01 02 03 04 05 Roll no. 105296 105321 105323 105289 105279

Name Md. Hedaytun Nabi Nahida Yeasmin Rakhi Nazia Afroz Niti Shamima Akter Liton Ahammed

PRESENTATION ON
DEVELOPING A NEW PRODUCT MARKETING POLICY.
Course Title : Principles Of Marketing. Course No : 2106

WE SELECT

GREEN TEA
AS OUR SELECTIVE PRODUCT

ENLIVEN
GREEN TEA

Life is green, Chill & Refreshing..

Key Success Factors

Quality. Affordability. Strong distribution channel. Nutrient, hygienic and safety. Availability of raw material.

Objective of Green tea

To provide the customer delight. To export good quality special green tea. To extend the private labeling of green tea. To import the tea vending machines to Bangladesh. To promote the pure green tea. To become one of the top ten profitable organizations in Bangladesh by the year 2020.

New product development strategy:

As our green tea product is firstly launched in the market, we have to maintain some strategy:

Idea generation

Idea screening

Concept development strategy & testing

Market strategy

Business analysis

Product development

Test marketing

Commercializati on

Marketing process
UNDERSTAND THE MARKET PLACE & CUSTOMER NEED & WANT. DESIGN A CUSTOMER DRIVEN MARKETING STRATEGY. BUILDING CUSTOMER RELATIONSHIP. CAPTURE VALUE FROM CUSTOMERS.

UNDERSTAND THE MARKET PLACE & CUSTOMER NEED & WANT:

To understand the marketplace & customer
needs & wants we should think the following concepts:

Needs wants & demands

Market offerings Value & satisfaction exchange relationship Market

DESIGN A CUSTOMER DRIVEN MARKETING STRATEGY

First of all we need to decide who will purchase our product that means Green tea. We can do this important task by market segmentation & target marketing. Then We must decide how we will serve the targeted customers green tea & how we can

differentiate our green tea from competitors.

Market segmentation of green tea

Resources: Tea leaves from Sylhet and Chittagong. Location: District areas, cities and crowded places. Consumer wants: People want easy to prepare, ready to drink, healthy and testy drink. Buying attitude and buying practice: Young, educated, tea loving and health conscious people.

 Geographic: Bangladesh, India, Nepal, Pakistan, England, and Malaysia.

Demographic : Age range 10-55, single or married middle class income earners, working in multinational firms, private organizations and entrepreneur, family size of 1-4 kids, city based family or individuals. Psychographic : Travelers, primarily western belief health conscious, weight watchers, goes to the gym ,enrolled in different classes for fitness, readers of articles about health, has a trendy and exciting life style, interest and activities in sports, physical fitness and shopping. Attitudes and beliefs: Environmentalist health and security conscious, go getter individuals. Behavioral: Individuals, who are independent, free spirited, has broad perspective and holistic view on their health, concerned about the physical appearance and well read about the latest trends in fitness and health.

Target markets
Green tea primary target market is the generation young who wants healthy living. Self actualization: Happy with developing healthier life, self development, realization. Esteem needs: Recognized for having a healthy and fit mind and body and status. Social needs: Sense of belongings love, want to increase immunity, reduce cholesterol and prevent certain cancers.

Safety needs: Need a drink that has anti oxidant, protection, security, and variety.
Physiological needs: Vitamins and minerals.

Competitive advantage
Highly valued with vitamins, anti-oxidants, energy, minerals , protection against certain disease Ready to drink tea. Affordable, refreshing, and delicious drink. Cold tea. For the person who will quench the thirst of gym.

For aware and go getter individuals.

Ready available drink that will exceed the expectation and needs of individuals who are living in a fast paced life style.
Lemon flavored , ginger flavored tea.

FIVE CONCEPTS OF MARKETING STRATEGY

Production Concept The product Concept

The marketing concept

The social marketing Concept

The selling Concept

THREE SELECTED CONCEPT FOR GREEN TEA

Product concept: It is the idea that consumers will

favor products that we offer the most quality, performance & features & that the organization should therefore devote its energy to making continuous product improvements.

companys goals depends on knowing the needs & wants of target markets & delivering the desired satisfactions better than competitors do.
Social marketing concept: It is a principle of

Marketing concepts: By these we can achieve

enlightened marketing that holds that we should make good decisions by considering consumers wants. Our requirements, consumers long-run interests & societys long-run interests.

BUILDING CUSTOMER RELATIONSHIP:

This is the process of building & marinating profitable customer relationships by delivering superior customer value & satisfaction through our product Green tea.

CAPTURE VALUE FROM CUSTOMERS:

Capture value from customers in return. Good customer relationship will make the customers loyal & delight. And the loyal & delighted customers will purchase more & more Green tea at present & future.

Marketing Environment
Micro environment
Company.
Suppliers.

Macro environment
Demographic
economic

Marketing. Intermediaries.
Customer market.

Natural
Technological Political cultural

Competitor.
Publics.

Branding
A brand is a name, term, sign symbols or design or a combination of these that identifies product. Brand Name Selection: Desirable quality for a brand name includes the following It should suggest something about the product's benefits & qualities. It should be easy to pronounce, recognize & remember. The brand name should be distinctive. It should be extendable.

The name should be easily translated into foreign language.

It should be capable of registration & legal protection. By researching above points ,We give Our product name "Enliven Green Tea.ENLIVEN means refreshing, cheer up, comfort etc .

Pricing Factors
1. Value based pricing

2. Value added pricing

Value based pricing: Setting prices based on buyers perception's of value rather than on the seller's cost.

Value added pricing: Attaching value added features & services to differentiate a company's offers & to support charging higher prices.

For our product (Green Tea) we use "value added

pricing" factors for setting price.

Pricing strategy
Market-skimming pricing: Setting a high price a new product to skim maximum revenue layer by layer. From the segments willing to pay the high price, the company makes fewer but more profitable sell. Market-penetration pricing: Setting a new price for a new product in order to attract a large number of buyer's & a large market share.

Product features
GREEN TEA

High quality of vitamins & minerals. Relaxed & relives body & soul. Aids digestion. Reduces fatigue & improves concentration. Low in caffeine & high in fluoride. Strengthens blood vessels walls. Prevents cavities & aids, carbohydrate, metabolism.
Better tea leaf. Well refined. environmentally friendly packaging. Reasonable price.

Product Quality Strategy

PRICE
Higher
Premium Strategy

Lower
Good Value Strategy

Higher

QUALITY
Overcharging Strategy Economy Strategy

Lower

Product Quality Strategy

From Above price quality strategies we target good value strategy. Because We want to ensure our product quality at an affordable price. We want to ensure our product quality As we target the middle class & higher middle class people as buyer we must have to pricing our product within their buying power.

Market Analysis
About 87% of all tea especially is black tea & 12.5% is green tea. (Tea association)

Environmental Analysis
Largest percentage of Bangladeshi population is

Target market. Most residents are the

Professional & business or health & social services classes of employment. We have large rainfall area & sunny hill area which is good for green tea.

Competitor Analysis

Black tea, white tea & coffee is the most likely Substitute product for tea. Our main competitors are Kazi & Kazi tea,Ispahani Green tea & Lipton Taaza tea.

SWOT ANALYSIS
Strengths
First mover Advantage

Opportunities

Greater antioxidant protection

Reasonable price.
All classes people might be our possible customers.

More sales for reasonable price.

Low cost, quality product.

Weakness
Its a new product. Huge market share is captured

Threat
Competitors could also diversify their product.

by competitors.
Limited experience

Our competitors are financially and technically strong.

4ps analysis
Product
The shop.

Different opening hours.

Seating arrangements.

Marketing approach.

Place (Distribution channel)

Set one channel member in each district. High commission for retailer and distributor. Credit facilities should be given to retailer. Distribution should be effective. There must be an effective chain information management. Supervision system. Sales team should be smart and effective.

Price
we sell our product on a packet in three different ways.
Leaf in-52 tk/250 gm,leaf out -75 tk/250 gm. Leaf in-210 tk/1 kg, leaf out-300tk/1 kg. 5 tea bag in a packet which is 15tk/packet. Price may be increased to reflect quality.

Promotional Objectives
Develop awareness Generate traffic Build loyal customer base Free sampling Advertising TV Campaign, magazines-newspapers Personal selling Direct marketing F.M. Radio. Create brand as national brand.

At a Glance
As Green tea is a new product in our country, so it has some lacking such as no popular brand name, people are not accustomed with such kind of product etc. But we hope we can easily overcome these lacking in our nearest future by providing better quality and creating strong brand loyalty among the customer. We believe that our people will prefer the Enliven Green Tea then traditional Tea after comparing the product benefits. Hopefully in near future our people will use green tea besides with traditional tea for achieving good health & cheer up their mind.