An Assignment On New Product Multany Face Mask

Submitted To: Janatul Mawa Nupur Lecturer in Marketing

Department of Business AdministrationNorthern University, Bangladesh

Submitted By:

Dipock MondalID#BBA070360590

Department of Business AdministrationNorthern University, Bangladesh

Date of Submission:

Student Declaration

I am the student of Northern University Bangladesh, Department of BBA in 9th Semester. Here By declare that the assignment represent entitled, “New Product of Multany Face Mask” 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 MondalID # BBA 070360590Department of Business AdministrationNorthern University Bangladesh

LETTER OF TRANSMITTAL

August 23, 2009The supervisorMs. Jannatul Mawa NupurLecturer in MarketingDepartment of Business AdministrationNorthern University Bangladesh

Sub: Submission of Assignment

Dear Madam, Here is the report on “New Product of Multany Face Mask” 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 arises 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 MondalID # BBA 070360590Department of Business AdministrationNorthern University Bangladesh

ACKNOWLEDGEMENT

First of all I would like to be grateful to Allah and my parents and pay mydeepest 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..

Marketing Plan of Multany Face Mask

1. Introduction:

Spry Cosmetics Ltd is a new and starting up company which forms on 31 March in 2010 in Dhaka. Its objectives are to provide world class and innovative cosmetics products. This company is preparing to launch Multany Face Mask 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 Multany Face Mask

2. Objectives Of This Assignment:

3. Market Summary:

Multany Face Mask 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 Multany Face Mask can better communicate with them.

3.1. Market Demographics:

Geographic: Multany Face Mask 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 shower gel all the year round.

Demographics:

Both male and female can use this shower gel.

People who are in the age at 15 to 69 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 gel.

3.2. Market Needs:

People usually need body face wash or similar type of products like liquid soap, for their face wash. Almost 75% people in our country use face wash for their face. People are very much habituated to use face wash. Most of the people recommended beauty care are using first and foremost for cleaning purpose.

Purpose of using Face wash:

25%

20%42%

8% 5%

Feel skinsmooth

feel fresh

Beauty care

Clean

Germprotection

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 conventional face wash. So they are looking for something new and different. That’s why we believe that our Multany Face Mask would be the most impressive want for this growing need.

3.3. Market Trends:

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

Face washes Usage Pattern:

Influencing Factors in New face wash Purchase Decision:

While purchasing face wash 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 face wash. People who are concerned with their beautification they use luxury beauty face wash 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:

Multany Face Mask is a new and uncommon product and its segmentation is different to other ordinary facewash. 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.

3.4. Market Growth:

4. SWOT analysis

Strength of Multany Face Mask:

Convenient in distributionMultany mud with 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 Multany Face Mask:

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 Multany Face Mask

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.

Much different and distinctive than traditional face wash.

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

Threat of Multany Face Mask:

Face wash 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.

Face wash: Face wash is basically used for beauty fication and skin care. It is widely used by women.

1) Garner: Garner is the main competitor of our gel 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) Ponds: Ponds is another main competitor in our soap 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) Dove: It is another Bangladeshi 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) Lackmy: Lackmy is another popular face wash in our country . It will be a competitor of our gel but it is now acquired by Merico Bangladesh.

Among the high priced like Dove (Unilever (BD). Ltd), Ponds etc. also poses good market share.

Market share of major toiletries and cosmetic firms of Bangladesh

Sl. No. Company Brand Name Yearly Market Share on beauty Soap

1 Unilever (BD). Ltd Lux International Beauty Soap

Tk. 312 Core

43.33%

2 Square (Toiletries Division)

Meril Beauty Soap 48 Core 6.66

3 Keya Cosmetics Ltd. Keya Beauty Soap 72 Core 10.00%4 Aromatic Cosmetics Ltd. Aromatic Beauty Soap 48 Core 6.66%5 Lily Cosmetics Ltd. Lily Beauty Soap 72 Core 10.00%6 Kohinoor Chemical Co. Tibet Beauty Soap 72 Core 10.00%7 Marks & Allys Ltd. Camelia Beauty Soap 60 Core 8.35%8 Others 36 Core 5.00%

Total Market720 Core 100%

Antiseptic Soap: Antiseptic soap is generally used for germ protection, health consciousness, feel skin smooth, and feel fresh. The most reputed antiseptic soap 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 soap occupies strong brand loyalty, it has captured almost 55% of the market share.

Dettol: Dettol posses almost 35% market share which is manufactured by Rekit Benkisor. It is the main competitor of Lifebuoy.

Savlon: Savlon possess a little market share of the antiseptic soap industry more or less 10-12% which is manufactured by ACI.

Sl. No. Company Brand Name Market

Share of anticipates soap

1 Unilever (BD). Ltd Lifebuoy Soap 55%2 Rekit Benkiser Dettol 35%3 ACI Savlon 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.

ProductPricePromotion 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:RTVNTV ATN BTV Desh TV

Bangla Vision RadioNewspaper, 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 storesPrize through raffle drawsFree 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.