marketing practices in nurjahan edible oil
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Marketing Practices in Nurjahan edible oilTRANSCRIPT
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DEPARTMENT OF
MARKETING STUDIES & INTERNATIONAL MARKETING
U N I V E R S I T Y O F C H I T T A G O N G
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
An Internship Report on
Marketing Practices of Nurjahan Edible Oil
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Abstract
Nurjahan Edible Oil Ltd. - a member of Nurjahan Group of Companies a leading corporate house in business arena in Bangladesh. This group is engaged primarily in refining and marketing of edible (Soya bean Oils, Super Oils, Palm Oils) oils. My study is to propose frame work and to identify feasibility of Nurjahan edible oil as a viable offering of today’s market.
For completing my research I collect data from core level oil user. I personally meet two types of oil users and retailers who directly meet with the consumer preferences. It’s very effective for me to analysis my project topics more effectively. I used to survey and observation method for my research and analysis. I collected data only from Chittagong area. I set market analysis based questions for my questioner to collect data and I also try to visit the actual consumer for getting effective answers for my research.
Our marketing objective is to establish a creative positioning and marketing platform in line with “Nurjahan Edible Oil Ltd” Core values that will undefined all marketing activities and build the image of “Nurjahan Edible Oil Ltd”.
Every product success depends on effective promotional activities. We try to offer effective sells and consumer promotion and offer push strategy for Nurjahan Edible Oil Ltd.
Finally from my close observation I would like to recommend that the Nurjahan Edible Oil Ltd. have to ensure their product quality to their targeted markets in order to achieve those target markets. Create awareness by taken effective promotional activities and strong strategies for getting their targeted prospects.
“Acknowledgement”
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First of all I would like to express my heartiest gratefulness to the almighty Allah.
The topic of Internship report assigned to me is “ Marketing Practices : Nurjahan
Edible Oil Limited.” I am very glad to do this study & enormous debts are
accumulated on the way to complete this report. This report is prepared as a
partial fulfillment of MBA degree in the Department of Marketing Studies &
International Marketing.
I am especially grateful to Md. Salamat Ullah Bhuiyan, Professor,Dept. of
Marketing Studies & International Marketing, University of Chittagong For giving
me chance for do my internship report.
I would like to thanks from the core of my heart to Kazi Motaher Uddin (Deputy
General Manager Nurjahan Group). For his unconditional support, when assisted
me to complete my internship program successfully. I like to offer my thanks to
Md. Nur Hossain (Senior Executive- Accounts& Finance) and Md.Nazrul Islam
(Divisional Sales Manager) who helped me a lot by giving his valuable responses
during my internship period.
Sayed Mostafa Amanat
MBA, Class roll: 15662
Session: 2009-10
20th june, 2012
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“ Table of Contents”
Particulars Page
CHAPTER ONE
INTRODUCTORY DISCUSSION:
Introduction
Rationale of the study
Objective of this report
Methodology of the Study
Research Problem
Scope of the study
Limitations of the study
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MARKETING PRACTICES OF NURJAHAN OIL
CHAPTER TWO
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PRODUCT
Description
Product Name Selectionproduct PositioningConcept Development
Concept Management
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CHAPTER THREE
Price
Brand wise Price Record
Pricing Objective
Marketing Strategy and Price
Pricing Decision
Factors of Pricing Decision
Corporate Pricing & Price
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25
25
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Discount
CHAPTER FOUR
(CHANNEL OF DISTRIBUTION)
Overview of Distribution Channel
Distribution system of JVOL
Process
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CHAPTER FIVE
Promotion
Advertising
Corporate client management
Corporate Clint management systems
Managing ordinary customers
Monthly Cost Advertising In RTV
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Chapter Six
Analysis of Data 41
Chapter Seven
problems 46
Chapter Eight Recommendation &Conclusion
Conclusions
Bibliography
Questionnaire for Customers
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Introduction
Marketing plays a vital organizational role for a Firm. A company expands their
product line on base of its marketing performance. As it helps to achieve the out
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comes of the company the more efficient a company in marketing, the more
efficient in performance marketing is related with profit. If the product can fulfill
the expectation of the consumer, it will be able to earn more profit. If it cannot
fulfill the expectation of the consumers, it wills loss the share in the market. For
this reason, the firms always try to ensure better marketing management of the
operation to create a competitive advantage in the market.
Nurjahan Group of Industries is one of the largest companies in Bangladesh .At
the present time it has a rich business portfolio and except some products in all
products of the business portfolio Nurjahan Oil is holding leading position. This
group plays an important role in our national economy and creates a huge
number of employment opportunities.
After all, the marketing performance of the company is better than other
competitors. I have performed my duties in the Nurjahan Edible Oil Ltd. sector
during internship period. I personally surveyed different areas, meet different
classes peoples and collected date from them about my concerning activities. So,
Data has been collected using case method of study.
Rationale of the study
In harmony with the objective of the study of marketing practices of nurjahan edible oil , the rationale of this report encompasses feasibility and appraisal of marketing practices of nurjahan edible oil , based on realistic survey , analysis and
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assessment of customers’ reaction about marketing practices of nurjahan edible oil. This report also focuses on specific purpose of marketing practses such as product,price, distribution and promotion.
Objective of this report
Objectives setup for any analysis is more important for the smooth and
fruitful of this analysis. Also the objectives of this report boosting and reaping
optimum benefit of the study.
1. To know whether the product “Nurjahan Edible oil” is maintaining desired quality or not based on customer response.
2. To understand Pricing objective and customer reaction in the existing pricing structure about Nurjahan edible oil.
3. To analyze marketing problems and provide recommendation for nurjahan edible oil.
4. To understand promotional, specifically advertising Objective of Nurjahan edible oil and customers’ response to the advertising in making purchase.
5. To gain information about customers’ reaction in purchasing Nurjahan edible oil.
Methodology of the Study
This report is based on realistic field survey of customers’ reaction on marketing
practices of nurjahan edible oil. For preparing this report data have been
collected in the following way :
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Sources of Data:
Primary Data: Primary data for the study have been collected through
questionnaire from the students , service holders, teachers and housewives from
metro area.
Questionnaire: formal questionnaires were provided to the respondents on
structural pre determined purpose. The answers from the respondents were
asked to be direct and real time based.
Secondary Data: Secondary data were collected from the company and its
previous years sheets, the marketing and sales department of the company and
theoretical knowledge from book on principles of marketing by Philip kotler and
web sources specially company website .
Research Problem
The research problem of the study is to find out marketing problems of nurjahan edible oil. Although it is a very generalized and broad interpretation , the researcher has tried his best to sort out the marketing problems based on
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statistical analysis. The researcher , for the feasibility of the report has gone through field survey for avoiding biasness of manipulation.
Scope of the study
The scope of the study was limited up to the oil industry of Bangladesh. As this oil industry is very vast & as there is a huge customer base in oil industry, the scope of working in this industry is up to the expectation. The researcher is supervised to work in a particular enterprise named “Nurjahan edible Oil”. As particular side of research is on the marketing practices of nurjahan edible oil, the researcher has tried his best to figure out the details of the marketing problems of nurjahan edible oi. As far as possible ,researcher has tried all out effort in gathering data related to the subject matter of the study including primary & secondary data. My internship programme started from 1st march,2012 up to 31st may,2012.
Limitations of the study
Any report is not out of limitation. While conducting my study in various places ,
faced some limitations. These are as follows:
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“Biasness” of the customers while providing data in making survey , is an
unavoidable limitation.
“Inadequacy of awareness” of customers while providing data is also a
limitation.
Application of Perfect statistical measurement was also not possible
because of the above two limitations.
Insufficient data also a limitation.
Arrangement of data is also not 100% accurate.
MARKETING PRACTICES OF NURJAHAN OIL
We all know that Marketing Practices is the set of controllable, tactical
marketing tools that the firm blends to produce the response it wants in the
target market. The Marketing Practices consists of everything the firm can do
to influence the demand for the product which have to be carefully managed
and must meet the needs of the defined target group. The many possibilities
can be collected into four groups of variables known as the “four Ps”:
Product, Price, place, Promotion.
CHAPTER TWO
PRODUCT
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Description Product means the goods and services combination the company offers to the target market. In general, the product is defined as a "thing produced by labor or effort" or the "result of an act or a process.”
“We Will Never Compromise on Quality.We Will Never Betray Your Trust”.
With that motto, NEOL continued its triumph to produce refined Soya bean
oil which is right for human consumption. Their product offerings are-
1. Refined Soya bean Oil 2. By product / Bulk
Under the soybean oil offering, NEOL set its Products Segmentation according to-
A. 500 ml Bottle
B. I Liter Bottle
C. 2 Liter Bottle
D. 3 Liter Bottle
E. 4 Litter Bottle
F. 5 Liter Bottle
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G. 8 Liter Bottle
H. 16 Liter Tin
Product Name Selection
We select names from three vantage points.Once we are confident that our teams have created broad ranges of potential solutions, we review eachcandidate from three distinct vantage points:
Strategic Impact: This is the ability of a new name to get attention (within a category), generate interest, and deliver a new message.
Semantic Value: Too often a name is selected simply by its literal meaning or rejected because of a few personal associations. In our selection process, we look beyond a word’s literal meaning and analyze other possible associations that the name might suggest. Is the name multifaceted? Can it deliver new energy to the category?
Phonetic Structure: Does the name look and sound natural or artificial? Does it offer a pleasing, rhythmic quality? Is it constructed to create a balance between vowels and consonants? Is it likely to be memorable because of its stress patterns? Does it help to convey the right tone?
Product PositioningIdentifying a market niche for a brand, product or service utilizing traditional marketing placement strategies (price, promotion, distribution, packaging, and competition)A company, a brand or a brand must have positioning concept in order to survive in the competitive marketplace.
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Product positioning process:
Effective Brand Positioning is contingent upon identifying and communicating a brand's uniqueness, differentiation and verifiable value. It is important to note that "me too" brand positioning contradicts the notion of differentiation and should be avoided at all costs. This type of copycat brand positioning only works if the business offers its solutions at a significant discount over the other competitor(s)
Generally, the brand positioning process involves:
1. Identifying the domestic Edible Oils markets direct competition
Bangladesh is a big market for Edible Oil companies both “Domestic & Foreign”. Competitors of this industry took places in a competitive market. Nurjahan Edible Oil entered in market early in 2010. It’s strategic aim is
1.Provide Quality products &
2. Low price operation.
2. Understanding how each competitor is positioning their business today (e.g. claiming to be the fastest, cheapest, largest, the #1 provider, etc.)
3. Documenting the provider's own positioning as it exists today. NEOL employed Mr. Kazi Motaher Uddin, Former Manager (Marketing) of SMC & Unilever bd Ltd to manage the documentations of branding & legal affairs.
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4. Comparing the company's positioning to its competitors' to identify viable areas for differentiation. Nurjahan Edible Oil Ltd differentiated its product according to market competition. Its remain its low price operations through own support on packaging, transport, research & development.
5. Developed a distinctive, differentiated and value-based positioning concept. E.g. Corporate dealings, Availability of product, Value added offerings etc.
6. Creating a positioning statement with key messages and customer value propositions to be used for communications development across the variety of target audience touch points e.g. advertising, media, PR, website, etc.
Concept DevelopmentThough brand development is by no means a new idea, today our domestic Edible Oil consumers have more access to information and more choices than ever before. The result is higher expectations, and the brand’s message must captivate the consumer immediately. Edible oil companies seeking to experience long-term
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success will have to create the most compelling, relevant, and consistent brand experiences for their customers.
A Promise Is a Promise
Nurjahan Edible Oil Ltd providing a Brand Proposition that is engaging, is easily understood, and offers an emotionally positive solution to needs and desires only serves to enhance the current customers’ perception. The company ensures & remaining the product quality, delivery & customers expectations.
Deliver the Unexpected
When developing a brand proposition, never let your brand’s promise be one that is already expected; this is a sure way to NOT stand out from your competitors. Advertising efforts that utilize adjectives like “good”, or “nice” are sure to fail when seeking to be both engaging and unique. The company offers value added products e.g. a bundle mix of Nurjahan Edible Oil Bottle with Nurjahan Spices (turmeric powder, chili powder etc) 100 grams pack.
Winning their Hearts and Minds
An important aspect of brand development is to create a positive emotional attachment to the brand which creates a response in its audience without the audience seeing the product or directly experiencing the service. The Nurjahan Edible Oil Ltd selected the brand name as it’s easy to listen & to remember. The peoples of Bangladesh like to buy a domestic product which has a flavor of its origin. The Company participates on socio-cultural & welfare programs with their “Brand” & “Logo”.
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Concept Management
Brand managing, it includes developing a promise, making that promise and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing but an art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from the competitors. It gives a quality image to your business.
In case of Edible Oil brands, the tangibles include the product itself, price, packaging, etc. While in case of service brands, the tangibles include the customers’ experience. The intangibles include emotional connections with the product.
Branding is assembling of various Marketing Practices medium into a whole so as to give you an identity. It is nothing but capturing your customers mind with Nurjahan Edible Oil’s brand name. It gives an image of an experienced, huge and reliable business.
CHAPTER THREE
Price
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One of the four major elements of the Marketing Practices is price. Pricing is
an important strategic issue because it is related to product positioning.
Furthermore, pricing affects other Marketing Practices elements such as
product features, channel decisions, and promotion. Price is the quantity of
payment or compensation given by consumers to the company in return for
goods. As the market of Soya bean is unpredictable sometimes it needs to
lower the prices and sometimes it needs to be rationalized. So price of Soya
bean oil doesn’t remain constant due to lack of stability of economical
environment, change at exchange rate, high interest and political unrest.
Facing these complexities, NEOL tries to continually examine and reexamine
the prices to make affordable price for the target customers.
Competitive Pricing environment in Edible Oil Industry:
In recent age, the market of edible oil is very competitive. It’s made the pricing environment hard to set a flexible price for any short of products (edible oil). Setting the price of a product based on what the competition is charging. Competitive pricing is used more often by businesses selling similar products (vanaspati, palm etc.), since services can vary from business to business while the attributes of a product remain similar. This type of pricing strategy is generally used once a price for a product or service has reached a level of equilibrium, which often occurs when a product has been on the market for a long time and there are many substitutes for the product.
Brand wise Price Record
Position in PET (Soya bean Oil)
Brand Taka/Liter Taka/Liter Taka/Liter
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2009 2010 2011
Teer 102.00 105.00 114.00
Nurjahan 99.00 102.00 112.00
Rupchanda 105.00 112.00 120.00
Fresh 100.00 103.00 112.00
Mostafa 102.00 105.00 115.00
Muskan 99.00 102.00 112.00
Pusti 103.00 105.00 114.00
S. Alam 100.00 102.00 112.00
Figure: Price Records of Edible OIL Companies in Last 3 Years.
Pricing Objective
Pricing objectives or goals give direction to the whole pricing process. Determining what your objectives are is the first step in pricing. NEOL pricing objectives must be identified in order to determine the optimal pricing. Common objectives include the following:
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Current profit maximization - seeks to maximize current profit, taking into account revenue and costs. Current profit maximization may not be the best objective if it results in lower long-term profits.
Maximize quantity - seeks to maximize the number of units sold or the number of customers served in order to decrease long-term costs as predicted by the experience curve.
Maximize profit margin - attempts to maximize the unit profit margin, recognizing that quantities will be low.
Quality leadership - use price to signal high quality in an attempt to position the product as the quality leader.
Partial cost recovery - an organization that has other revenue sources may seek only partial cost recovery.
Pricing Strategy:
An organization in a competitive market, can adopt a number of pricing strategies. The pricing strategies are based much on what objectives the company
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has set itself to achieve. Nurjahan Edible Oil Ltd screened its pricing objectives according to its business operations & values.
Marketing Strategy and Price
Before the product is developed, the marketing strategy is formulated, including target market (Bangladesh) selection and product positioning. There usually is a trade off between product quality and price, so price is an important variable in positioning.
Because of inherent trade offs between Marketing Practices elements, pricing will depend on other product, distribution, and promotion decisions.
Estimate the Demand
The country (Bangladesh) has huge market for Edible Oil Industries. Its potential demand & supply can make it rich for investors to compete with Price. Because there is a relationship between price and quantity demanded, it is important to understand the impact of pricing on sales by estimating the demand for the product.
Calculate Costs
If the firm has decided to launch the product, there likely is at least a basic understanding of the costs involved; otherwise, there might be no profit to be made. The unit cost of the product sets the lower limit of what the firm might charge, and determines the profit margin at higher prices.
The total unit cost of a producing a product is composed of the variable cost of producing each additional unit and fixed costs that are incurred regardless of the quantity produced. The pricing policy should consider both types of costs.
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Cost to Satisfy (Price)
Every company has to realize that price is one part of the cost to satisfy. One of the most difficult places to be in the business world is the retailers selling at the lowest possible price. If company relies strictly on price to compete then company is vulnerable to competition- in the long term. So NEOL prioritizes to concentrate on premium pricing considering premium image at consumer’s mind. If consumer is satisfied then he/she becomes loyal customer which results in more benefits to the company.
Environmental Factors
Pricing must take into account the competitive and legal environment in which the company operates. From a competitive standpoint, the firm must consider the implications of its pricing on the pricing decisions of competitors. For example, setting the price too low may risk a price war that may not be in the best interest of either side. Setting the price too high may attract a large number of competitors who want to share in the profits.
From a legal standpoint, a firm is not free to price its products at any level it chooses. For example, there may be price controls that prohibit pricing a product too high. Pricing it too low may be considered predatory pricing or "dumping" in the case of international trade. Offering a different price for different consumers may violate laws against price discrimination. Finally, collusion with competitors to fix prices at an agreed level is illegal in many countries.
Pricing Decision
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The pricing decision is a critical one for most marketers, yet the amount of attention given to this key area is often much less than is given to other marketing decisions. One reason for the lack of attention is that many believe price setting is a mechanical process requiring the marketer to utilize financial tools, such as spreadsheets, to build their case for setting price levels. While financial tools are widely used to assist in setting price, marketers must consider many other factors when arriving at the price for which their product will sell.
When setting price, marketers must take into consideration several factors which are the result of company decisions and actions .NEOL followed & considered some common factors to make a decision about its price which will better match with market & its competitors.
Factors of Pricing Decision:
Internal Factors:
To a large extent these factors are controllable by the company and, if necessary, can be altered. However, while the NEOL may have control over these factors making a quick change is not always realistic. For instance, product pricing may depend heavily on the productivity of the refining facility.The marketer knows that increasing productivity can reduce the cost of producing each product and thus allow the marketer to potentially lower the product’s price. But increasing productivity may require major changes at the manufacturing facility that will take time and will not translate into lower price products for a considerable period of time.
External Factors:
There are a number of influencing factors which are not controlled by NEOL but will impact pricing decisions. Understanding these factors requires the marketer
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conduct research to monitor what is happening in each market the company serves since the effect of these factors can vary by market.
Elasticity of Demand Customer Expectations Competitive and Other Products Government Regulation Segment Pricing of Nurjahan Edible Oil
Sl. Segments Price in Taka
A 500 ml Bottle 66.00
B 1 Liter Bottle 129.00
C 2 Liter Bottle 254.00
D 3 Liter Bottle 382.00
G 4 Liter Bottle 505.00
H 5 Liter Bottle 625.00
I 8 Liter Bottle 995.00
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J 16 Liter Tin 1950.00
Corporate Pricing & Price Discount
Nurjahan Edible Limited is incorporated with some reputated corporate houses. Most of them are consumer retailer, resturent, international hotel, tourist spot, chain resturent etc.They are in corporated under law of in corporation. Their corporate relation maintain a special price for its corporate customers under some conditions as the contractual agreement containing.
Corporate Clients:
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Corporate clients get 5 % price discount, credite facility & product delivery services.
CHAPTER FOUR
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Overview of Distribution Channel
Place includes company activities that make the product available to target
customers.
JVOL distributes the product to the user at the right place at the right time by
establishing a strong dealer network. JVOL has Sole agent at six division of
country who distribute the product to distributors. Sales representative are
scattered around the market to direct contact with retailer and customers.
However, this company tries to available its product every nearest local shop
to or target customer through following way-
Figure— Distribution Channel
Distribution system of JVOLJasmir Vegetable Oil Ltd is maintaining a strong distribution network in the
country to make available its product to every nearest local shop and target
customer. Highly experienced distributors and engaged for distributing
various products throughout the country. Marketing department is monitoring
and supervising their sales representative, sole agent, dealer and retailer to
reach our product to the end customer so that people can easily get our
product.
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Manufacturer
Sole Agent Distributor
Retailer
Customer
Jasmir Vegatable Oil Ltd has already set up their distribution channel and they follow level 3 distribution channels for ensuring the effective distribution of product for the ultimate customer.
Figure : Diagram of Distribution System of JVOL
ProcessDistribution process that is to use the marketing channel for ensuring the
effective distribution of product for the ultimate customer. We can say that the
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Nurjahan Oils Ltd.
Central Depot
Company Distributor
Area Depots
Whole Sellers
Retailers
Consumer
way be which we can give the product to the hand of ultimate customer. There is
some level of marketing control channels which are follows:
0 – Level
1 – Level
2 – Level
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Manufacturer
Manufacturer
Customer
Retailer
Customer
Manufacturer
Customer
3 – Level
CHAPTER FIVE
Promotion
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Wholesaler
Retailer
Manufacturer
Distributor
Wholesaler
Retailer
Customer
Promotion means activities that communicate the merits of the product and
persuade target customers to buy it.
JVOL firmly believes that ‘It is only when we aim for the Heaven; we shall reach
the stars’, that’s why JVOL adopted a credible and extensive promotional plan to
run a thematic and aggressive promotional campaign. According to promotional
plan this company normally conducts following promotional activities.
JVOL adopts direct and indirect promotional activities through following
media like TV Channel, Newspaper, Bill boards, Posters, Magazines, new
plan upcoming for Web advertising etc to create and keep brand awareness
and to explore exciting ways to emphasize on hygienic service.
Sales promotion is crucial in attracting consumer. It can be of directly or via
the intermediaries. JVOL contracted with third party named DRIK
(Advertizing agency) to conduct their print and electrical media compaign
on behalf of JVOL.
TV is more important for any company to reach our target market at the
same time to fulfill our objective. So JVOL mainly uses this strong media to
promote their brands among consumer through peak our , off-peak or
advertisement. During special occasion like Eid, Pahala Falgun, Pahela
Baishakh JVOL arranges special musical program under the brand name of
Nurjahan Soybean Oil like “Nurjahan Studio Concert at RTV’. Most
recently, at 14th February on the occasion of Valentine’s Day, Nurjahan
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Soyabean Oil sponsored a program named ‘Nurjahan Grand Music at NTV’
for its brand promotion.
To aware and educate the customers, JVOL sponsored in various events
related to the product and its image through sponsoring different sports
event, arts, entertainment, exhibition, fair and festivals, cause-related
events. Most recently it sponsored ‘Bijoy Mela’ at Laldighi Maydan in
Chittagong for the reminiscence of the inspiration of our victory. And also,
lately Banglalink organized a 2 days music festival under the banner of
‘Banglalink Desh Music Festival’ at Fantasy Kingdom to help the flood
victims.
In today’s time, there are too many radio listeners. Radio channels are
famous media for entertainment. Considering this factor JVOL is planning a
design to create awareness to target customer through using this media
like popular radio channels Radio Furti, Radio Tuday, and Radio 2 Fun etc.
Advertising :
Purpose : 1. To create awareness among the people through
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brand marketing.
2. Through Billboard, TV, Nurjahan Oil, Persuades
people to buy their oil.
Corporate client management
Basically Nurjahan oil manages the demand supply of
oils among the corporate clients.
Corporate clients of Nurjahan group :
1. The Pan Pacific Sonargaon, Dhaka.
2. Westin Hotels & Resorts.
3. The Peninsula Chittagong.
4. Biman Bangladesh Airlines.
5. Lab-Aid
6. Apollo Hospitals, Dhaka.
7. Pizza Hut.
8. KFC
9. Mr. Baker
10. Mr. Baker Canadian Food Center
11. Golden Harvest 35
12. Cooper’s
13. Baton Rouge
14. Well Mart Super store.
15. White Hen
16. Koyla.
Corporate Clint management systems :
a) Credit facilities.
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b) 3% commission per litre than marlcet price.
c) One year agreement to buy Nurjahan oil for
mandatory.
Advertising budget : Dimensions of Yearly advertising
Cost :
i. Megazine = 6,00,000 (5 meganim)
ii. TV ad = 4,80,00000.
iii. Newspaper = 1,00,000 to more.
iv. Bill Board = City Corporation receives
25,00,000.
v. Cultural program = 30,00,000.
Managing ordinary customers : Chart.
Advertising frequency : Per advertisement in TV 30 seconds. Monthly basis ads. Advertising media management :
Media agency takes 7% commission.
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Eovent marking (sponsorship) :
i. Fashion show organized by prothona 2011.
ii. Nurjahan rondhon shoili on RTV.
iii.Grand Music at Chittagong stadium organized by
Chittagong metropolitan Police.
iv. Sponsors NTV Grand Music.
Advertising Media :
1. ATN Bangla.
2. RTV.
3. Bangla Vision.
4. News Paper.
Monthly Cost Advertising In RTV
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Date Bill No.
19.01.12 NG-NSO-RTV
Particular Period Time Spot
Location
Spot
Duration
Rate
Per
min.
Rate
Per
spot
Airing
Spot
Total
(Tk.)
Pick
Before Drama/News
30 Second
5500 2750 71 Spot
2,03,500
Mid Break of Drama News
7500 3750 56 Spot
2,10,000
Off
Pick
Before mid break of Drama
Bonus Bonus 130 Spot
260
Spot
4,13,500
Add : 15% Vat on Tk. 4,13,500 62,025
Total 47,525
Less 3% Atton T/C 413500 12,405
Sub Total 4,63,120
Add: 7% Agency commission on 413500 28,985
Grand Total 4,92,065
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Tk. (In Word) Four Lac Ninety Two Thousand Sixty Five only
Chapter Six
Presentation of Data
1. You are getting the desired quality for the given price:
# Total No. of respondents = 49
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53%
47% YesNo
Yes = 26=53%
No = 23=47%
Findings : The survey shows that 53% of the buyer said that Nurjahan eedible oil is providing the desired quality for the given price, while 47% disagreed.
2. Nurjahan edible oil is making enough advertisements to promote its brand image:
# Total no. of respondents = 45
Yes = 27=60%
No = 18 = 40%
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Findings : The survey shows that 60% of the buyer said that Nurjahan eedible oil is making enough advertisements to promote its brand image while 40% disagreed with is statement.
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3. Price of Nurjahan oil is reasonable in comparison with competitive brands:
# Total no. of respondents = 47
Yes = 30=63%
No = 17 = 37%
63%
37%Yes
No
Findings: The survey shows that 63% of the buyers said that price of of nurjahan edible oil is reasonable in comparison with other competitive brands while 37% disagreed.
5. Which cooking oil brand do you buy monthly?
# Total no. of respondents = 39
Rupchanda = 59%
Nurjahan = 15%
Fresh = 10%
Dada = 10%
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4. Which of the following marketing strategies do you think Nurjahan edible oil should Change?
# No. of respondents = 46
Product = 28%
Price = 20%
Findings: The survey shows that 52% of the buyers said that price of of nurjahan edible oil should change product strategy while 37% suggested that it should change its pricing strategy and 11% suggested change of distribution or placing strategy.
0%
10%
20%
30%
40%
50%
60%
Rupchanda Nurjahan Fresh Dada Muskan
Series1
Muskan = 5%
Findings: The survey shows that 59% of the buyers buy rupchanda oil, 15% of the buyers buy nurjahan, 10% of the buyers buy fresh oil, 10% of the buyers buy dadaoil, 5% of the buyers buy muskan oil,
6. Do you want any discount?
# Total no. of respondents = 48
Cash Discount = 41%
Quantity Discount = 31%
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0%
10%
20%
30%
40%
50%
60%
Rupchanda Nurjahan Fresh Dada Muskan
Series1
No Discount = 27%
Findings: The survey shows that 41% of the buyers want cashdiscount, 31% of the buyers want
Quantity discount, 27% of the buyers want Quantity discount.
Chapter Seven
Problems
45
Product quality of nurjahan edible oil is not upto the expectation or desire of
customers.
Responsibility of pricing of nurjahan oil is also debatable that is price is not in
harmony with quality.
Advertisement and sales promotion is not sufficient . An important portion of
customers claim that nurjahan edible oil is not making enough advertisement
and sales promotion.
Overall marketing practices of nurjahan edible oilare not good enough to fit
competition.
Nurjahan edible oil is not successful in retailing customers.
Chapter Eight
Recommendation & Conclusion 46
Recommendations Nurjahan edible oil should ensure better quality to satisfy and retain
current customer base. It should ensure reasonable price considering quality and
competition. Overall marketing practices should be improved It should increase advertisement and promotion in such way that it
increases company’s customers base. It should revise it loyalty programme and provide more benefit to the
corporate client. Assessment and evaluation of marketing practices should be made
on regular basis and revised.
ConclusionsNurjahan Edible Oil Ltd. is a new comer in the Oil market in Bangladesh but they
have experience in their other business sectors. Nurjahan Group of Companies a
leading corporate house in business arena in Bangladesh. They try to contribute
our county GDP by serving their group of industries. Nurjahan Edible Oil Ltd. is
one of them.
Nurjahan Edible Oil Ltd. needs to conduct more marketing research to find out
the actual market position. Customers or end users are the main strength for any
company, so company need to evaluate the customer response about their
product. Then company can adopt the appropriate marketing strategies. As the
47
tea market is becoming competitive day-by-day, company needs to take
challenging strategies to gain competitive advantage.
Based on the study few possible recommendations have been made for the
betterment of the company. If these recommendations can be followed it can be
expected that in future all plans are successfully run and they will reach their
targeted position.
In this report I confess that mistakes may take place in my report because of
various limitations and also my limited knowledge. But I have tried to my best to
avoid or minimize mistake in my report. I have presented situation analysis,
market summary, market share analysis, demand, supply & gap analysis,
feasibility test, monthly consumption pattern, SWOT analysis, marketing strategy,
Marketing Practices, promotion, marketing expected budget, sales forecast and
many other things.
I think my included tools and suggestion will be to increase the profitability of the
company. If any producer of edible oil wants to capture the whole market then
they should understand the consumers demand
Bibliography
48
Company profile of Nurjahan Group of Industries.
Kotler, Philip, Marketing Management, Prentice Hall of India, 11 th
edition, 1998, pp 541, 473
Principles of Marketing by Philip Kotler
www.google.com
www.googlescholar.com
Company’s statistical data
Questionnaire for Customers
49
N. B. : Your information is a helping aid for the researcher. Please don’t be biased or affected by someone or something while giving decision.
Name : ………………………………………………. Age: ……………
Profession : ………………………………………………..
Which liter oil do you buy every month?
i. ½ Liter iv. 5 Liter
ii. 1 Liter v. 8 Liter
iii. 2 Liter vi. 10 Liter
vii. 15 Liter viii. 20 Liter
Ix. Above 20 Liter.
Which cooking oil Brand do you buy for household use?
i. Rupchanda iv. Mostafa
ii. Teer vi. Fresh
iii. Nurjahan vii. Dada
iv. Muskan viii. Others
You buy Nurjahan edible oil for cooking :
i. Yes. Iii. Sometimes
ii. No. iv. Infrequently
Among other brands of cooking oil ,you prefer Nurjahan edible oil:
50
i. Yes
ii. No.
Price of Nurjahan edible oil is reasonable in comparison with other brands:
i. Yes.
ii. No.
Nurjahan edible oil is making enough advertisements to promote its brand image:
i. Yes
ii. No
Every Month you buy Nurjahan oil…..
i. Yes
ii. No
TV advertisement made you purchase Nurjahan oil :
i. Yes
ii. No
You are getting the desired quality for the the given price :
i. Yes
ii. No
Do you want any discount?
i. Cash discount
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ii. Quantity discount
iii. No discount
Do you compare price of Nurjahan oil with other cooking oil brands?
i. Yes
ii. No
Which of the following option do you think Nurjahan edible oil needs more
improvement?
i. Product ii. Distribution and supply
ii. Price iii. Advertisement and Promotion.
Thank you
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