Marketing-Plan-of-Jackfruit-Cake.doc

Marketing-Plan-of-Jackfruit-Cake.doc - Marketing Plan of...

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Marketing Plan of Jackfruit Cake
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PRAN LTD was started in 1985. PRAN LTD is an Argo-based domestic company has been doing business in Bangladesh since 1985. It is getting ready to introduce a new product Cake of Jackfruit . PRAN LTD is the market leader in 3 out of 14 product categories and challenger in 9 out of 15categories. As a marketing manager I would like to introduce this product with a vision of achieving the top position in the cake market in future. Keeping this perspective in mind the product will be produced in Bangladesh and the raw materials will be collected within the country because in Bangladesh Jackfruit is grown in about 0.43 million acres of land. The annual production of cane is about 7.3 million m tons. It is one of the most important cash crops of the country. Cake is available in the market but it is processed and sold in the open place without maintaining hygienic environment and it is not preferred by all. For this reason, the company introduces the “Cake of Jackfruit” in caned package targeting the middle class and upper middle class people. The company will first introduce the product “Cake of Jackfruit” in divisional markets of Bangladesh on January in 2012 as test marketing. In progress it will follow intensive distribution and carry large scale advertising, consumer promotion, and trade promotion. Current Market of cake is very competitive. Large numbers of local companies are operating in this market. Besides those companies, many new companies are also to enter into the market. Market size is approximately Tk. 3200 million . Cake market is growing at the rate of 10% per year. Market of this product is urban, semi-urban and also rural oriented. It is relatively a slow moving product. “Cake of Jackfruit” is expecting market share 10% within five years. It is expected to increase sales over the next few years because the market is expanding. Current Marketing Situation
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MARKET SIZE Market size is approximately Tk 3200 million. Cake market is growing at the rate of 10% per year. Market of this product is urban, semi-urban and also rural oriented. It is relatively a slow moving product. MARKET SHARE A comparative analysis of the major competitors market share (Source: Container Supplier & estimated) is given below: Table 01: Market Share Brand Major competing products Market share ( in 2005-2006) Current market positions ACME Mango cake 17% Market follower PRAN Egg cake 22% Market leader SEZAN Mango cake, Egg Cake 13% Market follower Fu-Wang Mango cake 10% Market follower STAR SHIP Mango cake 13% Market challenger It is evident from the above given facts that the cake industry is faced with acute competition due to the reason that this industries getting saturated day by day. Though our product does not face direct competition with those above given brands, but the relationship is some what complementary.
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