assignment (mkt) rocky2003

7/31/2019 Assignment (MKT) Rocky2003

1/17

Assignment on new product development

Magic Foam

Department of Bachelor of Business Administration

Bangladesh University of Business & Technology (BUBT)

Bangladesh

1


2/17

Assignment on new product development

Magic Foam

Supervised by:

Aslam Uddin

Lecturer in Marketing Department

Bangladesh University of Business & Technology

(BUBT)

Dhaka, Bangladesh

Submitted by:

Md. Humayun Kabir

ID: 33

14th Intake, Section-1

BBA department

This assignment is submitted to the department of Bachelor of Business

Administration of BUBT for the partial fulfillment of requirement Marketing

2


3/17

Acknowledgements

We would like to take this opportunity to express my deepest gratitude to the Allah

Almighty, and also gratitude to Bangladesh University of Business & Technologywhich provided the facilitates and help in this project.

I would like to acknowledge the valuable help of my assignment supervisor, Md.

Aslam Uddin lecturer in Marketing Department, for his keen interest, valuable

suggestion, proper guidance and supervision throughout the assignment work, in

improving the quality of this works.

BUBT Dhaka

April, 2009

Letter of transmittal

3


4/17

To

Aslam Uddin

Lecturer in Marketing Department

Bangladesh University of Business & Technology (BUBT)

Dhaka, Bangladesh

Subject: report on marketing plan of Magic foam.

This report is making on marketing plan and analysis of a new product.

In making this report we got familiar with the process of creating a marketing plan

which is going to launch in to the market. We typically attempted to illustrate the

major area namely- situational analysis, marketing strategy, financial plan, control

etc. Moreover we namely alternative plan & contingency plan. My report also

includes the SWOT analysis.

We are pleased to provide you this report with necessary notes, tables, references

and shall be available for any clarification, if required.

Yours truly

Md. Humayun Kabir

s

4


5/17

Executive Summery

H.K Chemical ltd. Is the only local manufacturer of building and any otherconstruction oriented chemicals and materials with extra ordinary properties which are

claimed better ones in comparison with respective fields. H.K Chemical company ltd.produced many types of products but Magic foam is one of the special chemical products

for seawater concrete admixer. It has the specific characteristics. The latest invented

product Magic foam manufactured to ensure better qualities and performance under any

severe environmental conditions.

Magic foam is multipurpose admixer. Magic foam is unique because of its specific

characteristics. There are several admixers available in the market but they serves as

multipurpose so they are not especially of good use, in this respect my product Magic

foamwill specially help to construct under cold weather or sea water structure.

Magic foam approximately white in color, liquid to pest like mass depending ontemperature, dispersed and soluble in water, work as very good concrete lubricant,

excellent monolithic bonding with magic foam cement grout to avoid water stopper and

other concrete joining problems of concrete casted at different times.

It uses in Seawater concreting(port, jetty, gas well etc), cold weather concreting, piling

works, under water constriction, foundation of bridge (coffer dam, piling etc.), and so on.

The Ultimate cold seawater concrete admixer solution5


6/17

Magic Foam

Product Name: Magic foam

Company Name: H.K Chemical Company Ltd.

Product Logo:

Product Container:

TABLE OF CONTENTS

6


7/17

Acknowledgements 3

Letter of transmittal 4

Executive Summery 5

The Importance of the report 8

Literature Review 9

New Product development/ Marketing

Plan

10

Feature of magic foam: 10

Ingredient of Magic foam 11

Situation analysis: 11

Market demographics: 11

SWOT Analysis: 12

Marketing Strategy: 13

Marketing mix: 14

Financial analysis: 15

Implementation and control: 16

The Importance of the report:

The new world is waiting for construction wonder. So we want to decorate how

world with wonderful construction.

7


8/17

Again with the passage of time the vacant land is becoming limited to develop. So

to develop such kind of land we have to fight against weather and environment

ultimately condition.

The new maker of civilization dreams to open new doors of civilization. Now man

dreams to construct structure on moon as well as mars.

So, to carryon such kinds of construction we have to invent on

develop new kind of construction material.

We are surrounded by a lot of things. Among them a few are valuable. So the study

which brings a new useful material is also important and helpful to mankind.

This study will be fruitful to develop marketing career.

At first we made a literature review after that we focused on our present survey.

Literature Review

The nature and contents of a marketing plan/ product plan:

Marketing plan: A marketing plan is a written document that summarized what the marketer has

learned about the market place and indicates how the firm plans to reach its marketing objectives.

Contents of the marketing plan:

8


9/17

1. Executive summery

2. Situation analysis

3. Marketing strategies

4. Financial projection

5. Implementation

Situation Analysis:

Market summery (target market)

Market demographics

Markets needs

Market trends

Market growth

SWOT Analysis

Competition

Marketing strategy:

Mission

Marketing objectives

Financial objectives

Target market

Positioning

Strategies

Marketing Mix:

Pricing

Distribution

Advertising &Promotion

9


10/17

Customer service

Financial projection:

Break even analysis

Sales forecast

Expense forecast

Implementation & Control:

Difficulties and Risks

Conclusion

New Product development/ Marketing Plan

A new seawater concrete admixer that is more cost-effective, stronger and durable over time than

conventional fresh water concrete has been introduced by H.KChemical Company. ltd.

The cornerstone of this technology is the use of the company's treated sea (salt) water with existing

concrete mixes. The resulting concrete is referred to as Concrete. The treated seawater does notrequire removal of the salt element from the water.

A decade in the making the new technology offers faster drying time and greater resistance to

harmful elements than conventional concrete, the most widely used construction material in the

world.

10


11/17

Feature of magic foam:

Approximately white in color

Dispersed and soluble in water.

Helps in perfect compaction

Create better creeping.

Easy mold releaser; work as good concrete lubricant.

Different size

Ingredient of Magic foam: all chemical are mix in various ratios-

Lime

Alumina

Iron oxide

Magnesium oxide

Sulphur Trioxide

Alkalies

Dicalcium silicate

Emulsion

Clinker

Fly ash

Situation analysis:

Magic foam is a totally new product in the market and entering market 1 st time. Magic foam

offers multipurpose usable concrete admixer. Magic foam is the complete solution for sound

11


12/17

seawater construction. Worldwide tremendous in cold seawater construction sector those can be

easily and permanently solved by using Magic foam

Market summary: Magic foampossess better information about new market and have great deal

to our valuable customer. Our research and development department has been analyzing,

improving and adapting new invented technologies to keep our product magic foams range alwaysintentionally latest ones for customer. Magic foam always finds out the customers specific needs

and always communicates with the customer.

Geographic: Magic foam has no geographic target area. And magic foam can serve bothdomestic and international customers.

Market demographics:

developer:

o residential building

o commercial complex

LGED:

o Pavement slab

o Concrete block

o Culvert

o Bridge

Roads and high way:

o Pavement slab

o Concrete block

o

bridge

Port authority:

o Hydraulic structure

WASA:

o Sewerage network

12


13/17

Water development board:

o Dam ,barrage , weir

SWOT Analysis:

The following SWOT analysis captures the key strengths and weaknesses within the

producer, and describes the opportunities and threats.

Strengths :

dispersed and soluble in water

work as very good concrete lubricant

Excellent monolithic bonding with magic foam cement grout to avoid water stopper

and other concrete joining problems of concrete casted at different times.

liquid to pest like mass depending on temperature

Weaknesses:

There is risk that the customers would not accept the chips

at the initial stage.

Opportunities:

Easy to mix

It has special feature for seawater concrete

structure. Creating more employment opportunity.

Threats: Price is moderately high.

Competitor ( foam lub)

13


14/17

Marketing Strategy:

The key to the marketing strategy is focusing on the better qualities and performance under any

constructional work. Magic foam can cover 99% of the admixer market because of its specificfeature that produce only for seawater concrete structure.

Mission:

Magic Foam is working for sound Seawater constriction & healthy environment and its mission is

to provide the quality product and achieved long run business relationship with our honorable

Clients. Right from the moment magic foam is committed to making your construction with us a

true delight.

Marketing Objectives:

Magic foam maintains the positive strong growth each quarter seasonal sales patterns. Achieve a

steady increase in market penetration. Magic foam creates the good customer value.

Financial Objectives:

Marketing decisions are guided by the overall objectives of the company. While we will discuss

this in more detail when we cover marketing strategy in a later tutorial, for now it is important to

understand that all marketing decisions, including price, work to help achieve company objectives.

The four main marketing objectives affecting price include:

Return on Investment (ROI): A firm may set as a marketing objective the requirement thatMagic foam attain a certain percentage return on the organizations spending on marketing the

product. To fulfill return on objectives we take some initiative step.

Cash Flow: We set prices at a level that will insure that sales revenue will at least cover product

production and marketing costs. This is most likely to occur with new products where our

objectives allow a new product to simply meet its expenses while efforts are made to establish the

product in the market.

Market Share: Our product magic foam is totally new product so, new products under thisobjective we set the price artificially low in order to capture a sizeable portion of the market and

will be increased as the product becomes more accepted by the target market

Maximize Profits:

14


15/17

One of the most objectives is to maximize profit.

objective requiring the price be set at a level that optimizes profits

This is often the case when the marketer has little incentive to introduce

improvements to the product (e.g., demand for product is declining)

Target market:

Land owners

National department such as LGED, roads

and high way, water development board,

PDB, WASA, bridge department, port

authority.

Developer company

construction company

Marketing mix:

Magic foam marketing mix is comprised of the following approaches to pricing, distribution,

advertising, and promotion and customer service.

Pricing:

When marketers talk about what they do as part of their responsibilities for marketing products, the

tasks associated with setting price are often not at the top of the list. Marketers are much more

likely to discuss their activities related to promotion, product development, market research and

other tasks that are viewed as the more interesting and exciting parts of the job. Pricing decisions

can have important consequences for the marketing organization. Some reasons pricing is

important include:

Most Flexible Marketing Mix Variable: For marketers price is the most adjustable of all

marketing decisions. So, the price of magic foam is most flexible.

15


16/17

Setting the Right Price: Pricing decisions made hastily without sufficient research,

analysis, and strategic evaluation can lead to the marketing organization losing revenue.

Prices set too low may mean the company is missing out on additional profits that could be

earned. So, we set the price of magic foam is not so high that can lost target customer.

Important Part of Sales Promotion: Many times price adjustments are part of sales

promotions that lower price for a short term to stimulate interest in the product.

Distribution:

Initially we will use a direct to consumer distribution model. We have no dealer. We sales the

product directly to our customer.

Advertising and promotion:

We use different types of methods such as printed material, media advertising, web site activity,

door to door.

Financial analysis:

The financial overview of Magic foam related to marketing activities. Magic foam feels that it will

steadily increase sales as the advertising budget allows. The expense forecast will be used as a toolto keep the department on target and provide indicators when corrections and modifications are

needed for the proper implementation of the marketing plan.

Sales forecast:

sales %

Government department

Developer Company

Construction company

Land owners

40%

30%

20%

8%

16


17/17

Others

Total

2%

100%

Implementation and control:

The purpose of Papaya Chips marketing plan is serving as a guide for the producer.

Revenue: monthly and annual

Expenses: monthly and annual

Customer satisfaction

New product development.

We have the millstone that identifies the key marketing program it is important to accomplish each

one on time and on budget. We think that magic foam strongly fulfill the all customers needs and

wants.

17

assignment (mkt) rocky2003

Documents