CARROT JUICE

COURSE TITLE: Marketing Management

Course code: MKT-804

Prepared For: Mohona Motin

Lecturer Dep. Of Business Administration

Prepared by: S.M. Mamun khandker 01-08-22-712 Panna Sultana 01-08-22-711 Sharmin Akter 01-18-22-728 Md.Huzzatul Islam 01-18-22-730 Md.Murshad Alam 01-08-22-735 Nur Alam Siddiki 01-08-22-736 Md.Pappu Hossine 01-08-22-725 Bappi dutta 01-08-22-749

Date of Submission: 17-09-2011

17 September 2011

Mohona motin

Course Instructor,

Marketing Management

Department of Business Administration,

BBA program,

World University of Bangladesh.

Sub: Submission of the assignment on “New Business Plan ”

Dear Madam,

Here the assignment on “Carrot juice” that we would like to submit for fulfillment on Marketing Management.In preparing the assignment, we made sincere efforts to present the relevant information pertinent to this report and have analyzed them accordingly. During preparing this assignment, we have collected information from book, internet and relevant sources. We hope this report will give a clear picture of the Potentiality of carrot juice in Bangladesh.In this connection, may I, therefore, urge upon the benign honor of yours to go though the report and let me know about any change and adjustment on this, if required.

Thanking you,

Sincerely yours. S.M. Mamun khandker 01-08-22-712 Panna Sultana 01-08-22-711 Sharmin Akter 01-18-22-728 Md.Huzzatul Islam 01-18-22-730 Md.Murshad Alam 01-08-22-735 Nur Alam Siddiki 01-08-22-736 Md.Pappu Hossine 01-08-22-725 Bappi dutta 01-08-22-749

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Acknowledgements

First of all, we express our deep gratitude to the almighty “Allah” who created and nurture us in

this transitory world. I also have to put my heartfelt respect and gratitude for the kindness and

cooperation that was provided to me to complete our assigned report on the topic of “New

Business Plan” In preparing our report we have taken great assistance and support from some

persons. I would like to express my gratitude and heartfelt thanks to all that supervised me and

give guidance throughout the study.

We express our sincere gratitude to respected course Instructor “Mohona motin” who guided

supervised me during the study. Last of all We would like to express our thanks to the friends

who helped me in every stage of the report by providing valuable information and suggestion in

respect of preparing the report.

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Table of content

Contents Page no 01 Executive summery iii02 Introduction 0103 Objective: 02

04 Methodology 3

05 Limitation of the Study: 04

06 Conclusion 10

Executive Summary

This report is the prepared for partial fulfillment of the course Marketing Management. We have selected a new product which is Carrot juice and then we are going towards to focus and prospect of this business in our country. Also try to making some connection with our studies.

We prepare our assignment, which is given by our honorable course instructor Mohana Motin and found some related information with that. All is these things are collected from our internet, reference book and some others from personal interview of that product. We also try to find the possibility of that product. At the end of each section a general comment is made by us. Finding is also given to make it clear.

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Objective:

Our objective is to known about the potentiality of carrot juice business in Bangladesh. Building’s the importance of it with the idea of different author. Our main objective is to achieve a 94% market share in our country. On this contrary we design our strategy in such a way that we can achieve our goal. We want to capture the market by delivering this product which is helpful for human health

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Methodology

We prepare this report by self concept and as well as group discussion. We also discuss with our course teacher to prepare this assignment. We take some information from the internet.

IDEA GENARATION

For searching a new product, I discuss with our group member.And we select soft drinks, carrot juice, and mineral water.

IDEA SCRENINGFrom soft drinks, carrot juice and mineral water, we select CARROT JUICE.Because it is helpful for human.

Carrot juice is juice produced from carrots, often marketed as a health drink. Carrot juice has a particularly high content of Provitamin A (β-carotene), but is also high in B complex vitamins like folic acid, and many minerals including calcium, copper, magnesium, potassium, phosphorus, and iron. A pound (450 g) of carrots will yield about a cup (235 ml) of juice, which is a bad yield compared to fruits like apples and oranges. However, carrot pulp is very tough; the main difficulty in juicing carrots is in separating the pulp from the juice.

Carrot can be used in daily diet. It also source of other vitamins. Carrot juice also called a “Miracles Juice”. In the United states this product is very useful for people but in our country it is not yet now

MARKET OPPORTUNITIES

The product (carrot juice) is designed for the Bangladesh market. The Bangladesh is considered a very complicated market and high quality standards are definite requisites for that market alone.

The competition in the Bangladesh about this product is nil because this type of product is totally new for our country. so we think we can achieve our objective and we can capture the most percentage of the market.

We evaluate and find that there is a growing market and the demand for carrot juice is increasing in the Bangladesh as well. It is therefore possible due to this rising juice preference that the Bangladesh market may experience a growing demand in the next couple of years.

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Threats and Opportunities

Threats:

As majority person of Bangladesh are not educated that why they are not aware of their health. It can be threat for our business. Our product is new so that the consumer can not get much information and they are not interested to purchase our product.

Opportunities:

As our product is new for that there are no competitors in the market. This product contain more health benefit that’s why people whose are conscious about health will buy our product more and more. It is a new product

Market SegmentationMarket Segmentation is a dividing a market into smaller groups with distinct needs, characteristics, or behaviors who might require separate products or marketing mixed.

Form the many segmentation we select demographic segmentation for our product.

Age: 23, 35-49

Gender: male/female

Family size: young, single, married with children and all over everybody.

Religion: Muslim, hidu, catholic, others.

Income: 10-20, 20-30, 30-50taka.

Market targeting

A set of buyer sharing common needs or characters that the company

decides to serve.

Selecting target Market Segments

We select the undifferentiated marketing strategy for our product. It means we will serve the same product in whole market.

BudgetsBudget is a numerical presumption about a product costing, distribution cost, and market cost. Calculating the current situation we estimate that our budget will be 50 core taka. Which we know from profit and loss account.

Marketing mix

There are 4ps in the Marketing mix

1. Product: our product is juice, it is made by carrot. This is healthful for general people.

2. Price: to set our price we select that it will be 1litter-70tk, 500ml-40and 250ml- 25

3. Place: our product will be available in general store allover the country.

4. Promotion: we give promotion for our dealers. It will depend on their purchasing amount.

HOW TO MAKE

1. Place 2 pounds (1 kg) of clean carrots in a blender or food processor. Process until finely chopped or mashed. (One may have to add a small amount of water if the carrots are not very moist.)

2. Pour mixture into a large glass measuring cup and add 2 cups (500 ml) hot water. 3. Let mixture stand for 15 to 30 minutes.4. Strain the juice into a 2 quart (2 L) pitcher.5. (optional, but tasty) Add the juice of 2 oranges.6. (optional) Fill pitcher with water.7. Serve over ice.

CONCEPT DEVELOPMENT AND TESTING

** Survey for new product CARROT JUICE:1. Consumer’s purchasing attitude towards CARROT JUICE 250ml by

Age?  (i)Sometimes (ii) Regularly (iii) No

Interpretation: The pie chart shows that the age group between (18 to 25) Regularly purchase which is 70%, we can see that to purchase “CARROT JUICE 250ml” is positive among young generation and age group between (26 to 30) is to purchase “CARROT JUICE 250ml” 20% which they said sometime buy the drink, now we can see that the purchasing pattern is less positive. The rest of the age group (30 to 36) said “No” which is 10% Negative attitude.

2. Why you purchase CARROT JUICE 250ml? (i) For Refreshment (ii) For Quantity (iii) For Test

Interpretation: It is observed that out of 20 people, 12 people respondents (50%) reported

that they purchase” CARROT JUICE 250ml”for the size of the product and 5 people(30%) said that they purchase for refreshment and Rest of people (20%) said that they purchase ” CARROT JUICE 250ml”for test

(3)Which Size you usually buy? 

(i) 250ml (ii) 500ml

Interpretation: The pie chart shows that out of 20 people respondents 14(60%)are bought

250ml size, which we can say that small packet is very popular to consumer, and rest of 6(40%) are stated that they purchase 500 ml size .

4) Do you think CARROT JUICE 250ml is a good juice?   (i)Definitely (ii) Probably (iii) Probably not

(iv)If not why________________

Interpretation:

The pie chart shows that out of 20 people respondents 14(70%) are said definitely, and 6(30%) are said probably. now we can see that” CARROT JUICE 250ml” is very good soft drink 

(5) Do you think CARROT JUICE 250ml fulfill your need & trusty? 

(i)Yes (ii) No (iii) May be

Interpretation:   It is seen that out of 20 people respondents 18(90%) are said yes to fulfill their need & trusty, and 2(10%) are said “may be” to fulfill their need. Therefore, we can conclude that this soft drink can fulfill to consumer need & trust.

6)Are you satisfied to the CARROT JUICE 250ml? 

(i)Yes (ii) No (iii) If not why___________

Interpretation: It’s seen that out of 20 people respondent 16(80%) are said “yes” to satisfy their need and 4people (20%) are said “No” to satisfy their need. However, we can see that the CARROT JUICE 250ml really satisfies to the consumer.

MARKET STRATEGY DEVELOPMENT

Our target Market is age 06 to 25 and 50 up. Both male and female. Carrot Juice is deferent from other. Because it’s has Provitamin A (β-carotene), but is also high in B complex vitamins like folic acid, and many minerals including calcium, copper, magnesium, potassium, phosphorus, and iron. Carrot Juice is helpful for human & it is so much testy.Our will be offered orange color.Carrot juice 250 ml will sell at retail price of tk.18 with15% off the list price to dealers. An advertising budget of tk.5 lac will be split 50-50 between a national media campaign and local advertising.

PRODUCT DEVELOPENTFor turned into a workable product. We develop and test more physical product concept. Hopes to design prototypes that will satisfy and excite consumer. And that can be produced quickly and at budgeted costs.

TEST MARKETINGFor testing our product, we give free to the customer.And they are satisfied.

COMMERCIALIZATIONLast of all we introduce our product into market.

ControlsWe have strong management body to check the current situation of market. The management will monitor the activities of work and they will set the marketing strategy .they will also concern about investment

and returns.

Limitation of the Study:

When we have been collecting our information related with the study we faced some problems. Those limitations are given below-

We had no any practical experience earlier to make such a report. There was no enough record related with this in our reference book. The time period of the study was short.

Conclusion

Carrot is popular food items in our country. it has many nutrition, that helps people in a numerous level. in our country the product carrot juice is totally new. Carrots should be considered a goldmine of natural vitamins and nutrients. Among other raw vegetable juices, carrot juice is an absolute leader in the context of the variety of its therapeutic effects, the contents of useful elements and its compatibility with other juices or foods. As we all know, no other vegetable contains as much beta-carotene as carrots. In our body, beta-carotene is converted into Vitamin A, which assists in improving our eyesight and the functioning of our immunity system, strengthening our bones and teeth, preventing possible problems with the functioning of the thyroid glad. Vitamin A also has positive effects on our hair, nails and skin. Besides, this Vitamin is associated with good cleansing effects: it can clean our liver from fat and other unnecessary elements. However, for receiving maximum results for the liver, it is necessary to drink carrot juice on a regular basis.

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