New Product Planning (Students &Fresher Job.com)

Case Study on Students & Freshers job.com

Entrepreneurship

Submitted to:

Professor, Management

University of Liberal Arts Bangladesh (ULAB)

Submitted by:

Name ID

MD.SHAMSUL HOQUE 102011011

Md. Shahinul Islam 102011032

Sanjida Akter 102011025

Gazi Ashiful Haque 093011133

Section: “01”

Semester: spring, 2013

Due Date: 2nd May, 2013

1. ABOUT STUDENTS AND FRESHER’S JOBS.COM:

University of Liberal Arts Bangladesh

Students & Fresher’s Jobs.com is the first students and Fresher’s career management site in the country. Its depends on in-depth understanding of the needs of students part time job seekers and Fresher’s job seekers in the country. Our web-site aims to explore maximum benefits of the Internet. We believe our service will help the seekers and Fresher’s manage their career more efficiently. This site will also help students and fresher’s solve many of the problems associated with traditional recruiting methods and allow them to save time.

2. MISSION, VISION, GOAL, SLOGAN

o Mission:

Provide the best service to the customer and help the students and fresher's to build up their

bright future.

o Vision:

Within 2035, not a single undergraduate and graduate student is unemployment in

Bangladesh.

o Goal:

Make our country digitalized.

o Slogan:

Enlightening the future.

3. SOWT ANALYSIS

Strength:

o First time in Bangladesh.

o Only focusing the students and freshers.

o Some companies directly connected to our website.

Weakness:

o We don’t have so many companies like the other website.

Opportunity:

o Undergraduates and graduates need jobs.

o First time in any website that internal recruitment advertisement also published in this

website.o We don’t take any amount of money from the company to publish their recruitment

advertisement.o It can generate more revenue by attracting customers through a new and healthy way.

o Undergraduates and graduates eagerly to do a job that’s why they will easily pay 20 taka

for opening an account in this website.

Threat:

o Recent political situation because economic situation is not good.

o Cyber crime is increasing day by day.

COMPETITOR BASE ANALYSIS

FACTOROUR

ORGANIZATIO

N

COMPETIT

OR 01COMPETIT

OR 02COMMEN

TS

PRODUCT NAMEStudents and

Fresher’s Jobs

Bdjobs.com

All bdjobs ----

WHY THIS FARM EXIST

MISSION Provide the

best service

to the

customer

and help the

students and

fresher's to

build up

their bright

future.

- More than a job site which

provides special

services to existing and prospective job-seekers

like University admission

information, Result of

different job related

examination and finally

forum service for

experience sharing

VISSION

Within

2035, not a

single

undergradua

te and

graduate

student is

unemploym

ent in

Bangladesh.

The company is

to try bringing Internet

technology in the

mainstream business and

economic life of the society.

-Totally

different

GOALMake our country digitalized.

Our web-site aims to explore

maximum benefits of

the Internet.

- Same

FUNCTION

AL AREA--- Very Strong Very strong Very strong Same

4. COMPITITOR

Our target market is Undergraduate students and freshers and we are going to publish internal job recruitment in the public. In this sense, we don’t have any competitor. But some others website gives fresher’s job recruitment in their website. But it’s not our headache so we can say that not only Bangladesh but also around the world, we don’t have any strong competitor.

Some other competitors are:

Bdjobs Allbdjobs

5. COMPETITIVE F5. COMPETITIVE FORCEORCE

Michel E. Porter suggested that managers view environment of their organization in terms of 5 competitive forces:

The threat of new entranceCompetitive rivalryThe threat of substitute productsThe power of buyersThe power of suppliers

THE THREAT OF NEW ENTRANCE

1. Entry Barriers

A. E conomy of scales:

To enter this market, the economic scale must be not high because it is not a very risky business.

COMMENT: LOW THREAT FOR COMPETITOR

B. Product differentiation:

This website not only providing the internal requirements notification to the public, but also 1st

time in Bangladesh, this job website specifically established only for students and fresher’s.

COMMENT: HIGH THREAT FOR COMPETITOR

C. Capital necessity:

E-commerce not needs high range of capital. To enter this market, the organization not needs huge capital.


D. Government policy:

Now e-commerce business, don’t have some strict government policy to do this business. But now government starts to make some strong policy about this e business.


2. Exit barriers

To do this kind of business, needs more client to open a business and for the many reason they are the key people in this business. In some point of view it’s not easy to leave from this kind of business.


COMPETITIVE RIVALRY

A. Competitor:

In the main point of view, we are the 1st job students and fresher’s job website not only in Bangladesh but also all around the world. So, we don’t have any competitor. But in the other point of view, we have some competitors whom are providing jobs recruitment notification to the customer.


B. Industry Growth:

Day by day, this industry is increasing.


THE THREAT OF SUBSTITUTE PRODUCTS

A. Buyer switching cost

We are providing some different types of product because are only focusing students and freshers and proving internal job recruitment notification to the public.


B. Quality and performance are not equal.

Quality and performance of our job website are not same to the other job website.


POWER OF BUYERS

A. Number of buyers

Now a days, More than 80, 00,000 (Appox.) undergraduate and fresher’s in Bangladesh and we are focusing only those people.


B. Substitute product:

Others website are providing all kinds of jobs. But they never focus on the students and freshers. But we are focusing on that portion. So, the substitute products are not so much powerful.


C. Integrate backward:

Buyer cannot pose a threat to integrate backward because our buyers are individual. Individual buyer cannot build up this kind of business. So this is positive to our organization.


POWER OF SUPPLIERS

Our suppliers are companies. So we have no outside supplier.

COMMENT: THREAT HIGH FOR COMPETITOR

6. New product opportunities

If we see the other website exists in the market, they don’t give the opportunity to students to do

a part time job. And also saw that most of the fresher’s jobs require 1 or 2 year experience. But

from where they get the opportunity to gather 2 year experience. So, its create an opportunity to

us to create a new job site which specially focus on the students and fresher’s.

Customer Value Expectation

New Product Opportunity

Product Use Experience

7. Product Process Type:

If we go through the production process type, then we can see that our website is under generic

(market pull product).Because by lunching this website we are pulling the customer. The reason

behind this is no other website in this country is specifically focusing on the students and

fresher’s job.

Generic (Market Pull Product)

8. MARKET DEMOGRAPHIC

We segment the market into the study line ways. Our target market is Undergraduate students and also the fresher’s who needed jobs. In our website, we make two particular jobs page for students and Fresher’s.

9. MARKET GROWTH

Our business partners are those companies whom need most part time and fresher’s to complete their company task. Day by day the demand of jobs is increasing. Our main plan is to help the students and fresher’s to find out their desire jobs. We want to build their bright future.

10. Positioning:

We want to create a unique value on our target market. Now a day’s, not only in Dhaka city but

also in the other city students and fresher’s facing money problem for surviving. We are not

interested to the middle level or other level employee, because they already have a big salary job.

But the students and freshers are neglected all around the world. So, with this job website, we

will help the students and fresher’s to build their bright future.

11. Target Market:

Our target market is Undergraduate students and fresher’s in Bangladesh.

12. Marketing Strategy:

We will take more than one marketing strategy to promote our website. But our main strategy

of marketing is to campaign in all the public, private, national university. This strategy is

having so much benefit.

We can take other marketing strategy like:

Social Media Advertisement.

Street advertisement.

Television Advertisement

prospector, leaflet, bursary

Campaign

Students will get the knowledge

about this.

Word of mouth marketing

Increase the account holder

which is increase the profit.

13: Management Team:

Khandaker Ershad Jahan

CEO of Dimension

MD.Mozammel Hoque

Director of Unitex Process

Kazi Shariful Azam

CEO of Mahadi Water Technology

o Md. Samsul Hoque

o Md. Mazharul Islam

o Md. Abu Taher

o Liton Sani

o Mohammad Shariful Islam

Students of University of Liberal Arts

14. Marketing Mix:

14.1 P RODUCT S TRATEGY:

Our product is job advertisement or notification in the website. But at the beginning of our

journey, we are going to publish some companies’ job advertisement like:

British Council

Dimension

Citycell

bKash

British American Tobacco

Grammenphone

Banglalink

Unitex Processing

Mahadi Water Technology ltd.

Ashraf Textile Mills Ltd.

Mahadi Plastic Industry etc.

14.2 PRICE:

We are going to set an exceptional pricing system. Every job website is taking money

from the companies. But we are going to take money from the job seekers. We are

giving the priority to the students and fresher’s and make the internal job recruitment

notification to public. In our website, job seekers are able freely access to the all job

advertisement but if anyone want to apply any job, at first he or she need to open an

account and after that he or she will able to apply this job. If anyone open an account

then he or she don’t need to open another account for the next job apply.

We don’t tell about the debit card or credit card. Because every students and fresher’s

don’t have this and there have some security problem also. So we are using bKash. And

we fixed 20 taka for per account and every students and fresher are willing to pay this,

because with the help of the website they can get a opportunity to do a part time and full

time job.

Our pricing system is –

14.3 PROMOTION:

1. Advertisement :

We are planning to use advertising medium like Television and Radio advertisement ,Street Marketing , Social Marketing (Facebook , twitter, myspace.com , flickr ,YouTube) , Prospector, Leaflet, Bursary and Newspaper.

2. Promotion:

We have already mentioned that we are launching our website through an event. By which we are going to promote our website a brand for the people.

3. Human promotion:

Open a new account

Send 20 in bKash number.

By the campaign in all the public, private and national university which helps to create

WOM.

4. Customer relation :

By the commentary book of the event we can take the feedback about our website which

helps to create public relation with our customer.

14.4 PLACE:

This is an e-business, so it will be published all around our country.

15. RESOURCES NEED TO HAVE:

In this portion, as a resource we can say that company whom needs the employee is our resource for our student and fresher’s website. We talk some companies and they are agreeing with us to give the recruitment notification in our website.

16. Market Research:

We need to cover two main elements of market researches:

1. Manufacturers/Employer:

We need to know the market of manufacturers/employer in all target continents, including market trends and developments related to manufacturers/employer of food and fabrics.

2. Channel Marketing:

We need to know the trends in channel competition, emergency of new channels, economics, Major competitors, new technologies and major players in all continents.

At this stage of our development, our research is mainly secondary generated by keeping up with the media, including trade press and social media. We should quickly establish a strong filing system so that we can use the information that appears in secondary sources and catalog and organize for effective use later on.

17. Financials:

We are assuming that our total earning will be 5, 27,000 (projected). Expenses of slightly 2, 30,000 this is about 44% of income. (Projected)

The plan assumes two important trends:

First, a steady decline in cost of earning of opening account and growth in gross margin percentage as we build more of our resources, as full time personnel and fixed costs. That means that as we grow we take on low risk, if the plan is implemented. Step by Step we’ll have to watch the growth of sales relationships that imply the advisability of taking on more people as partners and employees.

Second, a decline in marketing expenses as a percentages of sales. The 44% figure we projected for the first year is not high, unacceptably high except that we are building a reputation and marketing without the leverage of past marketing, starting from zero. By the fifth year of the plan, we should 1% of income on expense. This is a better figure.

18. Income Forecast:

Our Earning for this start-up period grows from 30,000 (projected) per month at the beginning. The income forecast is aggressive, assuming financing for our marketing expense as planned.

We intend to continue to increase billing throughout the forecast period, reaching annual totals increasing from less than 70, 00,000 to 80, 00,000 taka in the fifth year.

Monthly IncomeMonth Income

Nov 30,000Dec 32,000Jan 34,000Feb 36,000

March 38,000April 42,000

May 44,000Jun 48,000July 50,000Aug 55,000Sep 58,000Oct 60,000

Total 527,000

Monthly Income Forecast

Nov Dec Jan Feb March April May Jun July Aug Sep Oct0

10,000

20,000

30,000

40,000

50,000

60,000

Monthly Income

Income

Yearly Earnings forecastYear Income

2013-14 5,27,0002014-15 8,50,0002015-16 10,00,0002016-17 20,00,0002017-18 35,00,000

19. Expense Forecast:

Overall we project expenses is 44% of earning from opening account for the first year. This compares to earning increasing during the same period. We believe that effective marketing requires a very high percentage of income and marketing expenses to sales during the early years, and that over time we can bring that percentage down to more acceptable levels.

Expenses divide over these categories: Buying Domain Event, advertising including street marketing etc. A smaller budget is included for graphics and printing expenses.

Expense Budget

DomainEv

ent

Adverti

sing

Graphics

and Prin

ting

Others

Total

Mark

eting E

xpen

ses

Percen

t of in

come

0

50000

100000

150000

200000

250000

Expense Budget

2013-142014-152015-162016-172017-18

2013-14 2014-15 2015-16 2016-17 2017-18

Domain 7000Event 150000 0 0 0 0Advertising 50,000 40,000 40,000 10,000 10,000Graphics and Printing 20,000 10,000 10,000Others 10000 10000 10000 10000 10000Total Expenses 230000 60,000 50,000 20,000 30,000Percent of income 44% 7% 5% 1% 1%

20. Linking Expenses to strategy and tactics:

We can see the strategic match in expenses to income in the steady increase in relative spending for the communication segments. These strategic shifts may be hidden somewhat because of the bulk of spending non specific areas. But they are still evident in the income and expense breakdown by categories.

Our expenses and strategy seems very well match because we are putting the bulk of expenses into the key elements for building our leads by organizing buying Domain, an event, some very strategic advertising including social media advertisement.

Income VS Expenses

Year 2013-14 2014-2015 2015-2016 2016-2017 2017-2018

Income 5,27,000 8,50,000 10,00,000 20,00,000 35,00,000

Total Expense 2,30,000 60,000 50,000 20,000 30,000

21. Implementation Strategy

The following table and chart identify the key marketing communication programs. Dates and budgets are clearly established. We are informed of our main programs and we are on board with implementation.

The programs will be revised each year. Next one year plan includes only the programs to be implemented this year.

Milestones

Activities Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

Domain

Targeted Advertising

Social Media Advertisement

Street Marketing

Prospector, leaflet, bursaryEvent

New Product Planning (Students &Fresher Job.com)

Documents

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