LETTER OF TRANSMITTAL 2nd May 2011 Md. Firoz-Al-Mamun Assistant Professor Faculty Of Business ASA University Bangladesh Subject: Submission of term paper. Dear Sir, With due respect it is our pleasure to present the term paper entitled ”Marketing Plan”. While preparing the statement we have tried our best to create a perfect Marketing Plan and tried to show all sort of planning and project works that is required to make the plan perfect. We have collected all the up-dated information that is needed for establishing a marketing plan, starting the company, launching a product and the marketing strategies of the product.
We hope that this marketing plan will provide a clear scenario of introducing a new product in this competitive market of Ivory Coast. To prepare this term paper, we have given the best effort to accumulate needed information. We shall be available to answer any question for clarification and thanking you especially for your assignment and sincere support to make it efficiently. Sincerely Yours Shahajada Syeem ID: 073-12-0042 Md. Abdul Kader Zilani ID: 071-12-378 Debabrata Roy ID: 071-12-261 Table of Content • Company Profile • Brand Name and its Logic • Current Market Situation • Consumers Want • Product Ingredients Market Segmentation • Target Market Approach • Marketing Strategy • Positioning Statement Executive Summery We are four partners starting a new Hair Gel producing company named Passion Play Company Ltd. Our product has some exceptional qualities that we are going to imply on the target market. For this reason, we have established a Business Plan that includes our company details, a market research of hair gel products. We have also exposed our product ingredients on details. We’ve divided the market through Market Segmentation Approach and targeted our ultimate consumers through Target Market Approach.
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Pricing, Channel of Distribution and Advertising are also discussed in this plan. Finally a financial projection has been made. Company Profile Company Name: Passion Play Company Ltd. Location:Ivory Coast Types of Business:Partnership Business Partners and Shares:100% share each percent of share price 0. 8 million Tk. of the company in profit and loss shall be distributed and designated to the partners. Duties of Partners: i) Managing Director ii) Chief Executive Officer iii) Production Manager iv) Sales & Distribution Manager Brand Name and It’s Logic Brand name:Passion Play Hair Gel
According to a survey done in Ivory Coast we have found the possibilities of the name of our brand and Passion Play suits all the requirements of the consumer preferences. The logic of brand name “Passion Play” is considered about thinking of the users. Our product’s users are specially the young generation. And “Passion” is the symbol of “young”. “Passion Play” means “Miracle Play Representing the Passion” that is closely related with the nature of young generations. Passion is the spirit that young generation plays. Our gel has the passion to impress the users and capture the market as well.
That’s why we think there are no alternate of the brand name “Passion Play”. Current Market Situation: According to the survey report of a company in Ivory Coast: A migration in the purchase of hair styling products to department and beauty supply stores has resulted in a sales increase around the world. Indeed, volume of Gel sold rise approximately 25% between 2001 and 2007 all over the world. Similarly in Ivory Coast the Hair Gel users are increasing day by day. Currently in Ivory Coast about 60% people use hair products. Among them approximately 20% of people use different brands of hair gel. These users are mainly the young generation.
According to analysis the usage of Hair Gel is increasing and it will increase to 40% within the next 5 years. So there is a growing market for Hair Gel products in Ivory Coast. Currently in Ivory Coast market L’Oreal, Unilever, Sunsilk, Dove, Set Wet, Gatsby etc. products are available. Among them Set Wet and Gatsby is mostly popular and captured a major market share. Except them Unilever, Sunsilk etc. are less popular. The following pie chart will show the relative market share: |Set Wet |28% | |Gatsby |17% | L’Oreal |12% | |Garnier Fructis |10% | |Pantene |9% | |Unilever |6% | |Sunsilk |8% | |Dove |4% | |Consort for Men |2% | |Young |3% | |Others |1% |
Source: Business info Ivory Coast research, July 2010 Consumers Want: According to a research conducted by Business info Ivory Coast research, consumers want several factors in a Hair Gel. The Following factors that consumers want are: Hair Fall Defense:By using hair gel consumers face hair fall problem. So they want a good hair gel that protects their hair falling and nourish there hair as well. Durability of Wet Look:The main problem of other hair gels available in the market is the “short time wet look”.
So they actually want a long durable wet look. Anti Dandruff:Consumers often face a dandruff problem by using hair gels. So they want anti dandruff formula in gel. No Stickiness:After using gel the stickiness feels bad. That’s why users need a gel that doesn’t have the stickiness. Washes out Early:Because of stickiness gel doesn’t washes out early. Soft & Silky Hair:Generally users want a silky look. But they don’t get it from the gels for long time. Alcohol Free:In our culture we have some barriers to use alcohol.
But gels that are available in the market provide alcohol. Conditioner:Gels that are available in the market doesn’t contain conditioner. But ultimate consumers want a gel that provides conditioner. Perfume:Users want a perfume that smells good and last long. Menthol:Consumers want something in the gel that makes them fresh and cool. Product Ingredients: Acrylates/Steareth-20 Methacrylate Crosspolymer Acrylates/Hydroxyesters Acrylates Copolymer Panthenol PEG/PPG-15/15 Dimethicone Hydroxypropyl Guar
Hydroxyisohexyl 3-Cyclohexene Eugenol Chitosan PCA Benzyl Benzoate Alpha-Isomethyl Ionone Geraniol Citric Acid Butylphenyl Methylpropional Citronellol Hexyl Cinnamal Glycerin Carboxaldehyde Pro vitamin Vitamin – E Conditioner Solution Perfume/Fragrance Water/Aqua Market Segmentation: Passion Play’s market segment primarily aimed at multi segment approach Target Market Approach: Passion Play’s target market approach primarily aimed at multi segment approach. Target market is for Teenagers and for Men. Target Market and Consumer Profile | |Age |: 13-19,20-29 years | |Gender |: Male | |Specially |: Young generation | |Family Life Cycle |: Unmarried, Married | |Occupation |: Student, Service holder, Business man | |Social Class |: Lower Middle class to Upper Higher Class | |Income |: Can be low/high | |Size of potential Market |: Total population of Bangladesh | |Geographical Location |: Rural, Semi-Urban, Urban | |Life Style |: Simple & fashionable as well | Marketing Strategy [pic] Positioning Statement [pic][pic] ———————– [pic] Children Hair Styling Products Hair Spray Hair Gel MEN WOMEN Children Teenagers Hair Cream Hair Color Others Teenagers Children WOMEN MEN Teenagers Children WOMEN MEN Teenagers Children WOMEN MEN Teenagers Teenagers Children WOMEN MEN WOMEN MEN Hair Gel Target Market