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An Assignment

On
New Product
Honey shampoo

Submitted By:
Dipock Mondal
+8801916286988
Department of Business Administration
Northern University, Bangladesh

Date of Submission: 31 March2010


Student Declaration

We are the student of Northern University Bangladesh, Department of BBA in 9th Semester.
Here By declare that the assignment represent entitled, “New Product of Honey shampoo”
is an original work done by us under the supervision of Ms. Jannatul Mawa Nupur Lecturer
in Marketing, Department of Business Administration, Northern University Bangladesh.

Dipock Mondal
Department of Business Administration
Northern University Bangladesh

LETTER OF TRANSMITTAL
March 31, 2010
The supervisor
Ms. Jannatul Mawa Nupur
Lecturer in Marketing
Department of Business Administration
Northern University Bangladesh

Sub: Submission of Assignment

Dear Madam,
Here is the report on “New Product of Honey shampoo” prepared based research. I have
tried our best effort to gather all necessary information to the concentrated part of the report
to enrich it. We believe that with our limited knowledge this report provides a core concept
about consumer perception on gym services.

We tried our level best to put meticulous effort for preparing the report. Any shortcomings
or flaws may arise as we are very novice in this aspect. We will wholeheartedly welcome any
clarification and suggestion about any view and conception disseminated in our report.

Sincerely Yours

----------------------------
Dipock Mondal
Department of Business Administration
Northern University Bangladesh

ACKNOWLEDGEMENT
First of all I would like to be grateful to Allah and my parents and pay my
deepest respect Ms. Jannatul Mawa Nupur, Lecturer in Marketing, Department of Business
Administration, Northern University Bangladesh, due to her generous and friendly guidance.
The school of business NORTHEN UNIVERSITY BANGLADESH help me to get the
opportunity to do the work in the New Product. I am also grateful to her for helping me to
understand some minute issues as well as those issues which I have failed to understand. I
also would like thanks my friends for giving me enormous help can not mention in this short
extent.
.
Chapter One

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

In order to complete the BBA program we have to complete a course called Marketing
Management. In completing the course our course instructor gives us an assignment on New
Product

By preparing the report we will able to gather knowledge about the different types of Product

1.2 Objective:
Without objective any mission will not be successful, as the study is important for some reason,
these are some objective too. These objectives help to make the study fruitful and reach the goal.

We have divided our objective into two parts:

1.2.1 Broad objective:


 Gather practical knowledge about New Product.
 Analyzing how to start new product.
 At the same time gathering the practical experiences.
 Present situation about the market.
 To know the product strategies that the organization allows to apply.
 To analysis quality of the product

To identify the problem of New product

1.2.2 The specific objectives:


 To fulfill the requirements of BBA degree.
 To fulfill the course requirements.
 To complete the report.
1.3 Methodology:
Methodology is the process or purpose of collecting data and information, which are required in
connecting with findings tools for best possible outcome.

There are various approaches to collect data for the report. But we should carefully select the way
according to nature of the report. We have designed the study carefully planned to yield result that
are objective as possible. The main lookout the report is to discover consumer behavior toward
Bata brand. In this section, we would like to emphasis on survey process that we have conduct
while we were preparing the report. This process consists of the following steps.

1.4 Limitation of the report:


In carrying out the study we faced many limitations which are listed below:

Lack of Experience: The work of collecting the information requires much experience. But we
had no adequate idea, knowledge, and previous experience about the report. Therefore it is very
normal that error come into existence in the report.

Time limitation: The time limitation is one of the limitations of this report. We have to
complete this report within very short time.

Lack of facilities provided by the management: At the time of data collection we have faced
several problems due to lack of facilities by the management.

Lack of interest: At the time of data collection it has been observed that most of the
participants of the interview did not pay attention in answering the question.

Lack of information: The Company is world renowned company. But our report was only in
Dhaka biased. So, the report lacks information.
Chapter Two
Company Overview….
Introduction:
Keya cosmetics ltd. is an well known concern of khaleque group of
industries. Originating in 1996, as a public limited company registered with the office of the registrar of joint stock
companies and firms with a paid up capital of tk. 240 million and authorized capital of tk. 700 million, keya cosmetics
ltd. is one of the leading cosmetics manufacturing company in Bangladesh. Located at jarun-konabari, gazipur
covering an area of 28,800sft, the company began its production in 1997
with a state-of-art manufacturing facility and has a strong workforce of 744 people.

Putting together a strong marketing team and recruiting and retaining employees with the needed experience, Keya
cosmetics Ltd has developed a set of abilities that enable good marketing strategy execution. Kcl is always trying to
push down authority to lower managers and front line employees. Taking care of budgeting requirements, creating
strategy supportive policy, initiative mechanism for continuous improvement, reward system and corporate culture
etc are important elements of its
marketing strategy. Keya Cosmetics Ltd uses full market coverage
strategy which attempts to serve specific customer groups with specific products. Keya cosmetics Ltd has always

History :
was formed on 1996. On April 2 2007, Corus became a subsidiary of Tata
Keya cosmetics ltd
Steel. Tata Steel is happy to announce that the Company has completed its £6.2 billion acquisition
of Corus at a price of 608 pence per ordinary share in cash. The enlarged company will have a pro
forma crude steel production of 27 million tonnes in 2007 and will be the world’s fifth largest steel
producer
Manufacturer, Exporter
Number of Employees
51 to 100 People
Turnover
US$ 10-25 Million

2.3 Products & services:


• We are committed to partnership with customers to help streamline business chains and
achieve imaginative ways of working. Keya cosmetics ltd already supplies a variety of innovative
solutions to a broad range of markets.
• Beauty Soap
• Lifeguard
• Coconut Oil
• Detergent
• Talcum Powder
• Laundry Soap
• Toilet Soap
Chapter 3
New product
Marketing Plan of

1. Introduction:

Keya Cosmetics Ltd is a new and starting up company which forms on 31


Marchs in 2010 in Dhaka. Its objectives are to provide world class and
innovative cosmetics products. This company is preparing to launch Honey
shampoo which is quite new and stylish product for alls.

Care of face has gotten stylish overtime. People spend thousands of


money for buying different types of perfume to make them beautiful and
sophisticated. As thing get better with time, people will move on from
the good Honey shampoo

2. Objectives Of This Assignment:

The objectives of this assignment is to know how to started a new


product and how to captured the market shares. The implication of 4
ps of marketing. We also learned about SWAT analysis of new
product.

3. Market Summary:

Honey shampoo possesses good information about the market and knows a
great deal about the common attributes of the most customers. This
information will be leveraged to better understand what their specific
needs and how Honey shampoo can better communicate with them.

3.1. Market Demographics:

Geographic:
• Honey shampoo has no specific geographic target area in
Bangladesh but we prefer urban area more than rural area. It
would be very suitable according to our weather condition and
climate. People can use this shampoo all the year round.

Demographics:

• Both male and female can use this shampoo.

• People who are in the all age are the vital users.

• Bigger family consists of 6 to 10 member can use family size


and single person and single family most probably use little
size.

• People who are educated are major concerning customer.

• People who are involved in earning and lead a prosperous life


also our concerning customer.

Behavior Factor:

• People who are very aristocratic and lead very luxurious life
they usually accept this product easily and old conventional
people will take longer time to accept this shampoo.

3.2. Market Needs:

People usually need shampoo for wash heir or similar type of


products like liquid soap, for their hair. Almost 75% people in our country use
shampoo for their hair. People are very much habituated to use shampoo.
Most of the people recommended hair care are using first and foremost for cleaning purpose.

Purpose of using Honey shampoo:


11%
Free from
dandrap
41% Silky hair
21%
Clean

Free from
gearm
27%

Most of the people of our country are very much conventional but our
young generations are different as they can cope with newly things much
more easily. Some sorts of people especially young generations are very much
monotonous with using shampoo. So they are looking for something new and
different. That’s why we believe that our Honey shampoo would be the most
impressive want for this growing need.

3.3. Market Trends:


In our country people usually use shampoo for their hair, except 70%
male and 95% female respondents replied positively that they use shampoo regularly for hair.
However, among male and female who is not use shampoo on regular basis because they feel that
shampoo trim down the smoothness of hair.

Shampoo Usage Pattern:


Influencing Factors in New face wash Purchase Decision:

While purchasing shampoo both male and female respondents firstly look for brand and their
percentage is 26.67%. Then, secondly they prefer both antiseptic quality and beauty care quality
and for these the percentage is 23.33%. After that, 10.00% consumers seek for both price and
ingredients. Again, 6.67% people search for both availability and packaging. Finally, only 3.33%
people hunt for few other factors which are pack size, advertisements, and shopkeeper’s opinion.

Different types of people use different types of shampoo. People who


are concerned with their beautification they use luxury shampoo like Dove
which possesses maximum market share. Other face wash like pones, are
also used for their beauty. Some other people are very much cautious to their
skin and try to keep them fresh . These sorts of people usually use Lifebuoy
face wash, Savlon. Upper classes and sophisticated people use very expensive
and very lucrative beauty soap like Dove, , and Camay. Our young generation
and sophisticated people want new, different, innovative, stylish, and quality
something for showering. So we assume that shower gel would be greater
interest in this prospect.

Market segmentation:

Honey shampoo is a new and uncommon product and its segmentation is


different to other ordinary face wash. Its segmentation bases on-

Gender (men & women)


Social class (Upper upper-Upper- Upper middle and Middle)
Density (urban area)
Attitude toward product (positive, adaptable with new things.) and generation
(young)

Our market segment is quite measureable because our main target


customer is 15–64 aged people and its approximate size is 63.6% of total population

Our target segment is very accessible because we urban area is one of our target market. The
urban population which is 27% of total population

Our market segment is quite differentiable (Such as Men, Women) who


have distinct choices needs and characteristics.
In order to actionable our marketing program our market segment will
help us. We can introduce different marketing strategy and promotional
strategy according to men and women choice, preference and needs.

So our market segment is measurable, accessible, actionable, and


differentiable.
CHAPTER4

SWOT analysis

4. SWOT analysis

Strength of Honey shampoo:

• Convenient in distribution
synthetic surfactants as well as vegetable oil.
• Combination of different features.

• Easy to use
• Affordable for all segments

• Provide comfortable tube.

• Suitable for all type of skin.

• We assure product differentiation.

Weakness of

• Production cost and price would be higher.

• No brand awareness of this new product as a start up company.

• Lack of depth industry experience and insight.

Opportunities of Honey shampoo

New stylish and very much adaptable for the young generation.

There are no other manufacturers of such kind of product.

As the only manufacturer of this product we have an opportunity to capture


the greater market share.
s
Much different and distinctive than traditional face wash.

So it is a large market which creates a great opportunity for us.

Threat of Honey shampoo


Shampoo market is the nearest competitor of us which possess the all
market.

• Our conventional people hardly take this product enthusiastically.

• Possibility to come more competitors in this market.

5. Competition:
Competition is an important factor to consider before entering a
business. Company should have successfully competitive strategy to be
able attract, retaiun and grow customer. There are no other companies
who produce such kind of product. But there are similar types of products
for face wash. At present our uniliver is our main competitor. There are two
types of Face wash one is tube and another is continer. Describe some
soap competitor in below.

Shampoo: shampoo is basically used for beauty fiction and hair care. It is widely
used by women.

1) Sunsilk: Sunsilk is the main competitor of our Shampoo industry


because it possess 43.33% market share. Now it is the market
leader in our local market. The manufacturer of Garner is the world
most famous brand Unilever (BD). Ltd.

2) Dave: Dove is another main competitor in our shampoo industry


which possess about 30% market share. Our local brand Square
Toiletries is its manufacturer. It has much possibility to gain more
market share.

3) Panteen: It is another USA base shampoo industry which is very


popular in not only in Bangladesh but also the other countries. It will
become a market challenger of Dove but it has not enough market
shares in comparison of Dove.

4) Hadensholder: Hadensholder is another popular shampoo in our


country . It will be a competitor of our shampoo but it is now
acquired by Merico Bangladesh.

Among the high priced like Rejoice, life boy etc. also poses good
market share.
Market share of major toiletries and cosmetic firms of Bangladesh

Sl. Company Brand Name Yearly Market


No. Share on
beauty Soap
1 Unilever (BD). Ltd Sin silk Tk.312 43.33
Core %
2 P&G Pantin 48 Core 6.66
3 . Keya Beauty Soap 72 Core 10.00
%
4 Aromatic Cosmetics Aromatic Beauty 48 Core 6.66%
Ltd. Soap
5 Lily Cosmetics Ltd. Lily Beauty Soap 72 Core 10.00
%
6 Kohinoor Chemical Tibet Beauty Soap 72 Core 10.00
Co. %
7 Marks & Allys Ltd. Camelia Beauty Soap 60 Core 8.35%
8 Others 36 Core 5.00%
720 100%
Total Market Core

Shampoo: Shampoo is generally used for germ protection, , feel hair


smooth, and feel fresh. The most reputed antiseptic shampoo is

Lifebuoy: Lifebuoy is one of the popular health care soap in the soap
market. It is renowned for ensuring better health and germ free which is
innovated by Unilever Bangladesh Ltd. As the shampoo occupies strong brand
loyalty, it has captured almost 55% of the market share.

Panten: Panten posses almost 35% market share which is


manufactured by P & G. It is the main competitor of Lifebuoy.

Sunsilk: Sunsilk possess a little market share of the antiseptic soap


industry more or less 10-12% which is manufactured by Uniliver.

Sl. Company Brand Name Market Share


No. of anticipates
soap
1 Unilever (BD). Ltd Sunsilk 55%
2 P&G Panten 35%
3 Hadensolder 10%
Total 100%

Product Offering:

Multany Face Mask has two criteria; one is for men and another is for
women. It will provide three category products, men, menthol, and normal.
Multany Face Mask especially for men has some standard features:

• Richly Multany Face Mask cleanser with Multany mudy,


glycerin, sweet, almond, fruit exact, and sodium PCA.

• Skin feeling perfecting refreshed and recharged.

• Scents skin with distinctive musk arena.

• Provides a gently yet through cleansing.

• Provides convenient value sized tube make for easy using and
handling.
Menthol (for men):

• Indulges yourself into a luxury Face wash.

• Provide high quality menthol for cool sensation.

• Feel cool, refresh and recharged after use.

• Skin is the left soft and hydrated, while the invigorating scents of
aromatic citrus, ocean and natural wood enlivens the senses.

• Provide attractive colorful pad tube.

Woman (Normal):
• Embodies the independent spirit of woman.

• Formulated with powerful minerals and natural moisturizer to


cleanse and condition skin.

• Provide high quality glycerin, allover, mud and distinctive perfume.

• Suitable for all type of skin.

• Provide comfortable pump bottle for easy using and handling.

Marketing strategy:

The key to marketing strategy focusing on the stylish, broad minded,


young and cautious of their health, these types of users. Face wash can cover
the 10% of the soap market because if produce products toward those
segment who want to see themselves as distinctive. It is able to address
different segments within the market although each segment is distinct in
terms of its users but it would be very much useful to different segment
because of its ease use, quality, long term health protection, reasonable price
and its users get expression of sophistication.

Mission:
Multany Face Mask’s mission is to attract and maintain customers by ensuring
better quality and having difference from the other face wash. We hope our
product will exceed the expectation of the customers.

Marketing objectives:

Multany Face Mask key marketing objectives are:

 Establish a strong brand image and consumer loyalty.

 Maintain positive strong growth in first years.

 Decrease consumer acquisition cost by almost 1.5% per year.


 Easiest and availability of the product to the target consumer.

 Create awareness about this uncommon product.

Financial objectives:

 Achieve breakeven within first year.

 Reduce production cost at every half yearly period steadily.

 Maintain a significant research and development budget for future


development and innovation of the product.

 After achieving breakeven increase profit margin by 1.5% per quarter


through efficiency and economy of scales gains.

Target market:
After segmenting as gender basis (mail and female) we target different social
class in Bangladesh. We prefer people who are living in the urban area of our
country. Our targeted social classes are divided as upper-upper, upper-lower,
upper-middle and middle. Among the people of these social classes they want
something new and sophisticated which would represent their choice and
personality. Moreover they want some variation in their daily life and want to
use better something which would represent their status and roles.

Young educated people are another preferable target market of us. They are
becoming stylish & want new & innovative things they are very much capable
of adapting with the new invention.
Mean while as face wash very much easy to carry and economical it would be
the first choice of those people who are fond of journey.
Positioning:

Positioning is one of the most important key to launch a product that means
the distinctiveness from any other product which possess in the customer
mind. However Multany Face Mask contains lots of distinctive features from its
competitor products.

Some distinctiveness are mentioned below-

 It is much more foaming than other traditional face wash.

 It has two criteria (men & women) which contains distinct features
from others. But other traditional face wash has no criteria like (men
& women).

 Multany Face Mask is normally suitable for all types of skin.

 We use some distinct ingredients which are hardly used in our


traditional face wash.

 It does not dry your skin.

 It is quite easy to carry and last longer than other. However you can
use this as body wash, so you can wash your entire body.

 .

Multany Face Mask is much more distinct, stylish and enjoyable so we will
convey this message to our target customer by various promotional activities.
We would follow societal marketing concept for assuring consumer
satisfaction. More over we would maintain the Consumer Social
Responsibilities (CSR) to create brand awareness among the people.
If we can aware our customer about our products positive and distinct
features we can create a distinct position in our customer mind.
What is our market position: Each company has its own particular
position according to market share. Among four types of market dominator our
company product position is market leader. Because of Multany Face Mask is
the pioneer of such kind of product. This product is totally new and no other
company did not introduce such kind of product in past. That’s why we will
posses 100% market share of this product.
Marketing mix:
The creation of the marketing mix is intended for the purpose of insuring the
achievement of various corporate goals such as profit , volume , image
reputation and return on investment through the satisfaction of the
consumers. Multany Face Mask marketing mix is comprised of the following
approaches to product, pricing, distribution, advertising & promotion.

Product
Price
Promotion
Placement

Product:

We are going to introduce Multany Face Mask in tube packaging which makes the face soft and
more beautiful. The face wash is specially for those girls who are very conscious about the skins.

For serving the market of Multany Face Mask we are introducing tube packaging

This tube packing has many value added features like-


* Convenient in distribution
* Easy to hold and carry with
* Easy to use
* Affordable for all segments

Price:

Price is only one p among the 4p’s that generate some revenue for the company rest all incurred
some cost of the company.

As you know that there are several price based approaches are available that company should
follow---
*Firstly we consider our product cost.
*Then we analyze competitor’s price
*After all our price of Multany Face Mask is average to competitor price.

After complete analysis of all the cost which is incurred we set the standard price of the product
which is easily affordable for all segment like low class, middle class, and higher class people
easily purchase that product.
MRP of Multany Face Mask:

Net Wet Price (TK)

50 Gram 90 (TK)

100 Gram 165(TK)

150 Gram 230 (TK)

200 Gram 290 (TK)

Promotion:

For the purpose of promoting the Multany Face Mask we use different sources like print media,
Electronic media and Internet.

Add is given on:


RTV
NTV
ATN
BTV
Desh TV
Bangla Vision
Radio
Newspaper, Magazine

Promote through Banners, Brochures, charts, play cards etc.

Placement:
The product which we are going to be introduced is Multany Face Mask after deciding rest all
three marketing p’s now we are in a position to decide where the product is placed. The product
should be placed everywhere in the market. Company also targeted to capture the whole market by
comparative price. The product is placed in retail shops through different distributors. The product
is available in the market at fair price.

Distribution: Initially Multany Face Mask will use dealer to distribute in the
whole market.
Strategies:
Our core objective is to position Multany Face Mask in the Face wash market.
Our strategies base on specific area pricing, distribution, and marketing
communication.

Distribution: Initially we will use dealer to cover six divisions and distinct
towns. We will use 2 depots in Dhaka and Rajshai .Our products will be
delivered to the depot, and then distributed to the dealers. We have 60
dealers in the whole market and more than 2000 sales representatives under
dealers around the country. By sales representatives we would give money to
grocers, shopkeepers as they will be more active to make aware and convince
the Face wash customer about this product.

Marketing communication: By integrating all messages in all media,


we will reinforce the brand name, and the main points of product,
especially our exclusive feature.

We will take some promotional activities- first of all we will give ads on
TV channels; it is the most interesting recreational media of our country.
We will hold dramatic advertisement on various satellite channels like
NTV, RTV, ETV, BTV, ATN, etc. make attraction to the people. We will
sponsor popular drama, cinema to make awareness of the consumer.

Secondly we will add the various popular daily newspapers like


“PROTHOM ALO”“JUGANTAR” “THE DAILY STAR” etc. Because most of
educated and urban people read this news papers.

Thirdly we would like to choice FM radio, which is growing popular


recreational media in our country. In the small period of time there
comes some radio channel like “RADIO TODAY” “ABC RADIO” RADIO
FOORTI” etc. We will hold jingle types of advertisement in the radio
channels. Young generation is the most vital customer of our product
and the hear FM radio in their leisure time.
We will also add in periodical like different types of magazines. We will
sponsor different events and give wall and bill board advertisement in
the important places to draw attention of the people.

As a opinion leader we will use some reputed player and a reference


group we can use our Bangladesh cricket team.

Finally we will hold customer driven campaign in most of towns. Such as

Distribution of samples

Discount of coupons to customers in the retail stores

Prize through raffle draws

Free trials of new customers

Discount coupon will serve as marketing strategy to develop similar


loyalty scheme in order to indentify and stimulate brand awareness. In
the Bangladesh market.

Sales forecast:………………………
Control:
The purpose of marketing plan of Multany Face Mask is to serve as
guideline for the organization. We will measure our performance by
controlling following areas:-

 Annual revenue

 Annual sales expense

 Customer satisfaction

Implementation:
We are planning tight control measure to closely monitor quality and customer
satisfaction. This will enable us to react very quickly in correcting any problem
(if any deviation find ) that may occur.

Conclusion:
As Multany Face Mask 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 Multany Face Mask then
traditional face wash after comparing the product benefits. Hopefully in near
future our people will get ride of that old face wash and get yourself a Multany
Face Mask and change the way their face wash.

Recommendation:-

Although Multany Face Mask richly distinctive from other product and it contains
very good quality and adaptable for the young generation but it has some
lacking. So we provide some recommendation to overcome those lacking.
 It’s a new product in our country market and has no brand popularity so
we need to take lots of promotional activities to create brand awareness
among the people.

 Its price is much higher than other face wash. So we should reduce our
production cost by producing and selling larger scales.

 We give much priority to young generation but capturing the young


generation we should emphasizes on other people as well.

 We should provide more information about quality, feature and benefits


to the target customers.