bengal meat
TRANSCRIPT
NEW PRODUCT DEVELOPMENTSTRATEGIE
OF
COURSE TIT: PRINCIPLE OF MARKETING COURSE CODE: MKT 221
SSTAMFORDTAMFORD U UNIVERSITYNIVERSITY B BANGLADESHANGLADESH
Assignment of
Principle of MarketingPrinciple of Marketing
Course Code: MKT - 221
Subject: New Product Planning Process & Development by
Practicing
Principle of Marketing
Submited To : Ms Monalisa Salam
Course Teacher, Principle of Marketing
Stamford University Bangladesh
Submitted By :
Letter of TransmittalLetter of Transmittal
Dated: March 14, 2009Dated: March 14, 2009
Ms Monalisa SalamMs Monalisa SalamCourse Teacher Course Teacher MKT-221MKT-221Stamford University BangladeshStamford University Bangladesh
Sub:Sub: Course Assignment of MKT-221Principle of Marketing Management Course Assignment of MKT-221Principle of Marketing Management
Dear Madam,Dear Madam,
We undersigned are the students of your course of Stamford UniversityWe undersigned are the students of your course of Stamford University Bangladesh, like to request to please accept our assignment of batchBangladesh, like to request to please accept our assignment of batch “Group 5”. The assignment is prepared as per your guidance.“Group 5”. The assignment is prepared as per your guidance.
May, we therefore pray and hope that; you would be kind enough toMay, we therefore pray and hope that; you would be kind enough to accept our course assignment and obliges us thereby.accept our course assignment and obliges us thereby.
Sincerely yours,Sincerely yours,
Yours obedientlyYours obediently
Acknowledgement
Firstly, we are very much grateful to the Almighty for enabling us to
complete such a report.
We like to express our heartiest gratitude to our very much favorite
course faculty , Ms Monalisa Salam, Course Teacher, for initiating us in such
a job. Without his advice and co-operation, it would not be possible for us
to complete this report & assignment.
We are very much grateful to. Md. Mostofa Kamal , Head of Information &
Technology Division of Bengal tel com Ltd., for his substantial co-
operation.
Finally, we express our heartiest felicitation to all of students for their
extended co-operation and support.
Introduction
Meat industry in our country is new concepts relative to other develop
country. In Australia, USA, England, Canada etc, there are lots of meat
companies producing and exporting meat to other country.
Bengali meat has been operating their business since 2005. In our
country there are lots of local business men who sell meat to local
market in a traditional way. There are other retail chain shops like
Agora, Mena Bazar, Nandan etc they also sell meat to different
locations.
Bengali Meat Company is the only company in our country who are
producing and processing meat with an appropriate marketing plane
shi;;; strategy. They follow all the marketing plan to establish their brand
image. Bengal Meat Company is situated in Shathia, Pabna with a 9.21
acre land. It can process 20 tons meat per day. Their main focus is on
export. They are exporting about 80% of their production to USA, UK,
Canada, Dubai, Europe etc.
The collect animal from local sources and supplies to some five star
hotels name – The Sheraton, The Radission, The Pan Pacific and The
Westin. Their prime emphasis is on product quality and customer focus
and also availability of their products. Bengal Meat Company is using
the latest technological machineries to process meat with a controlled
environment. Bengal Meat Company confident, that our operation is
benchmark new trends in Bangladesh.
Company Overview
Bengal Meat Processing Industries Limited, the lone and pioneer
processed halal meat exporter and domestic supplier, has almost trebled
its export growth in a span of nine months. The trend reflects the sharp
rise in demand for processed meat in Bangladesh at a time when
consumers have become increasingly concerned by reports of food
adulteration. As the respective ministries of those particular countries
issue export permission, everyone except the government has a very
little role to play in this regard – the management of Bengal Meat
believes. Bengal Meat ha a huge market for processed halal meat mainly
in both Bangladesh and Middle east and south East Asia. But the
company is currently failing to tap the potential as it cannot penetrate
into their markets due to some legal barriers. Dwelling on the barriers
they are facing, he said being an exporting country Bangladesh has no
certification from any other importing countries than Kuwait and Dubai.
Such certification from any importing country is mandatory for an
exporting country, as the country concerned is to satisfy the importer
that the product exported does not contain any hazardous elements and
germs.
Marketing Analysis:
This is the first of its kind and glorifying first mover in the ready-meat
industry of Bangladesh. This first ever modern multi-species abattoir in
Bangladesh capable of producing over 20 tons per day of processed meat
beef, cara beef, veal, goat meat or lamb.
The business entity, which now requires 1,600 to 1,700 cows and 2,200
goats every month to meet the growing demand in both foreign and
domestic markets, could also expand its export 20-25 times if the
government had extended proper support, its official’s clamed.
Meanwhile, the meat processor is eyeing to grab the Malaysian market
in two or three months as a team from that country will visit Bangladesh
soon to asses the standard the Bengal Meat follows in processing the
item.
Officials of the country’s most sophisticated abattoir set up in the
northern region with Australian technology said, initially, they would
supply around 10 tones of meat – mainly beef and mutton – per day to
local market. The products will be made available at the luxury hotels,
restaurants and superstores in Dhaka and Chittagong cities, they said.
Bengal Meat, dressed and packed with international standards, would
cost Tk 10-20 more per kilogram than beef or mutton sold in butchers’
shops.
The modern meat processing plant, set up with a daily capacity of 20
tones at Shanthia of Pabna, would also maintain reliable live cattle’s
supply chain through organized and scrutinized procurement and
monitored rearing.
Besides exporting meat to the international market, the company has also
concentrated on the local market with supplying around 2-3 tones of
meat a day and is expecting a supply of 10 tones a day shortly. Now
around 1,068 shops and business entities, including five star hotels,
super shops and chain stores are the main consumes of processed meat
of the company. People think processed meat is very pricey, but Bengal
Meat takes only Tk 10 more than the market rate of common meat.
As buying and selling of processed meat remains a very new vital
concept in Bangladesh, the company is finding it difficult to convince
shoppers about the item. But with their innovative marketing planning
process, the Marketing team of Bengal Meat believes that the scenario
will be changing.
It is observed that in the beginning its marketing and supply chain
officials could hardly get order for more than five hundred kgs a day.
But now Bengal Mean has reached 3 tones and it will certainly increase
in coming days.
About the meat quality the officials said they got the supply from their
selected agents who collect cattle from different places of the country.
Bengal Meat has reached an agreement with its suppliers that if the
management find any hazardous disease in the supplied cattle they are
bound to get the cattle back.
The officials added that the supply chain of cattle of the country is not
that much good as the practice of farming cattle for non-milking and
non-cultivating purposes is very new.
It has a huge international market we are in need of more investment in
the sector.
If the government withdraw duty on importing live animal for export
purpose, as finally meat export will generate more income. Presently,
Bengal Meat is enjoying 20 per cent incentive on export, but they face
hardship as such incentive in given against opening L/C only. Vision of
Bengal Meat:
To serve Bangladeshi people with premium quality meat and meat
products at challenging prices.
We know that comes from the vision company success as well as the
products planning process So we will check the management ability and
actual expertise and experience of Bengal Meat to meet its market
expectation in the next chapters.
Corporate Summary:
Name of the establishment Bengal Meat Processing Industry Ltd.
Head Office Address Sheltech Tower, 55, Bir Uttam Qazi
Nuruzzaman Road, West Panthapath,
Dhaka-1205, Bangladesh
Factory Address Village: Korial, Post Office: Kashinathpur,
Upazilla: Santhia, District: Pabna,
Bangladesh
Chairman Eng. Kutubudding Ahmed
Vice Chairman Dr Taufiq M Siraj
Managing Director Md. Mazharul Islam
C.F.O: Md. Omar Faruque Bhuiyan
Contact Number Phone Number: +8802913808, +
880219136, + 8802913929
Fax: 88 02 81 58 276
e-mail: [email protected]
Company/Plant
registration Number
C-49088 (1072) / 2003
Year of construction 2005
Total land area 9.15 Acre
Total built – in area Total 70373 sq ft., where plant area covers
24,000 sq. ft. and the rest include animal
sheds, by-products shed, general &
chemical store, compressor and power
station, office and staff dormitory.
Company Location
BENGAL Meats state-of-the-art factory is the first of its kind in
Bangladesh. The factory has been built in Shathia Pabna and has been
designed and equipped by a leading Australian company in food
processing automation. We meet world export standards and other
crucial benchmarks like HACCP, ISO and HALAL.
Strategic Marketing Practices of Bengal Meat Company
Country’s first state-of-the-art modern meat processing industry, Bengal
Meat, has launched commercial production pledging supply of fresh,
hygienic and halal meat to local consumers as well as foreign market.
Providing Superior Customer Value
Standard Product Qualify
Bengal meat is producing a world class food quality of meat in our
country. They are well known about their quality, hygienic, neat & clean
meat. For their top quality of meat, they have achieved ISO 22000:2005.
This certification is a combination of ISO 9001 and HACCP and the
leading certification in food safety.
Totally customer focused
The company believes their success depends on their customers. Thus,
their primary value is fulfillment of their customer’s needs. Their
manner of achieving this success is to include value for money. They
develop extensive network to reach the products at the doorsteps of their
clients, and also recruit sales personnel throughout the country to ensure
availability, and at all times focus on to produce goods as per customer’s
satisfaction.
Product Stratgie
Halal Meat
Bangladesh is the land of majority of Muslims. So, people always
consider Halal foods to eat. With this consideration, Bengal Meat
maintains all the rules and regulations to slaughter the animals.
Product Differentiation: Bengal Meat has successfully differentiated its
market by selling branded Halal meat at home and abroad. In different
shops and superstores like Agora, Nandan, Meena Bazaar etc. we can
see the poster of Bengal Meat’s logo and products. Moreover, we’ve
learned that the company also exporting their product overseas. So
definitely the company has successfully dominated the market with
successful product differentiation.
As Bengal Meat is totally customer focused, they always try to cover
different needs or demands of their customers through different
offerings. According to customer demands, they are offering differing
types of meat. They are.............
Cattle beef,
Cara beef,
Veal,
Goal meat &
Lamb
Sheep
Chilled or Frozen
The also offer products according to different pars of the cattle.
Pricing Strategy
Company also considers price level in terms of their quality. Since
quality is the prime, price is little bit higher than from local market.
Descriptions Price/Kg
Beef with bone Tk 275.40 / $4.05
Beef without bone Tk 499.80 / $7.35
Meat front leg Tk 359.72 / $5.29
Meat back leg Tk 359.72 / $5.29
Lever/Koliga Tk 359.72 / $5.29
Beef kima Tk 499.80 / $7.35
Brisket/Sinah Tk 359.72 / $5.29
Placing Strategies
Attractive Packaging:
With the present demanding situation, company also offer their products
with attractive packaging. This packaging helped them to build a brand
image and to carry out from one place to another place.
Distribution Networks:
They are currently distributing their products in different five star hotels
like- Sheraton, Radisson and Pan Pacific Sonargaon, Westin. Bengal
Meat is also available in renowned Chain Shop in our country.
Production Capacity:
Bengal Meat has the first modern multi-species abattoir in Bangladesh
capable of producing over 20 tons per day of processed meat beef, Cara
beef, veal, goat meat or lamb.
Highly Equipped Capital Machineries
Bengal Meat Company is equipped with highly technological plant and
machineries that can produce quality meat. These machineries is
exported and installed by Food Equipment Australia (FEA).
Customer Relationship Management
One of the core strengths of Bengal Meat is their CRM department.
Through their dedicated effort they have established a top class customer
relationship practice. Serving the customers efficiently has enabled them
to become a leader in this sector.
Modern Marketing practice
* Market segmentation: From the vision statement of Bengal Meat we
came to know that the company segments its market by selling premium
branded and Halal meat for everyday eating.
* Innovation Strategies – This deals with the Bengal Meat’s rate of the
new product development and business model innovation. As Bengal
Meat is the first mover in the industry then the company is on the cutting
edge of technology and business innovation with pioneer capabilities.
* Growth strategies – In this scheme we ask the question, “How should
the firm grow?” There are a number of different ways of answering that
question, but the most common gives four answers:
Horizontal integration: the company can open some shop in major
cities and town in Bangladesh as well as in abroad at where it can
sell its products. Currently Bengal Meat sells its products through
channels.
Vertical integration: Bengal meat has already contracted with
several farm and NGOs to provide the company with Cattle. May
be future the company will establish farm to produce cattle for
itself.
Diversification: it has geographically diversified its venture as it
spread its business over abroad.
SWOT Analysis of Bengal Meat:
Strengths:
Strong brand image
Experienced top management
Global presence of Bengali Meat
Large market share
First mover advantage
Good profitability
Strong solvency
Wide and powerful distribution system
Weaknesses:
In – network coverage
Complex operation
Concentrated ownership pattern produce differentiations
Opportunities:
Government tax rebate
Backward linkage for value addition
Further diversification
Shortly carrier advanceman opportunities
Leading job provide/opportunity
Threats:
Emergence of competent competitors.
Government regulation and intervention.
Exchange rate of volatility.
Cattle diseases.
Availability of cattle.
Action Program
Quick response with the changes in the marketplace
Adopting New technology
They are using high technological equipment and machineries with
the growing demand of quality and Halal meat. For this reason, Bengal
Meat Company installed heavy machineries from Australia.
Promotional Strategy:
The took some promotional activities to communicate to the target
market. They had given some print ad on some popular newspaper. They
are providing up to date information on their web site.
Information Technology:
Bengal Meat Company can be informed about the shortage of
demand of meat from the clients. Employees also can be able to know
about the present production information with the help of information
technology.
Global Marketing Strategy of Bengal Meat
Premium Halal Abattori, a local company, has signed a deal to export
halal meat to Malaysia as local processors are eying to grab a portion of
US$ 50 billion global halal meat market.
Premium Halal Abattoir, under a memorandum of understanding with
Barakah Import of Malaysis, will export 50 tonnes of meat a year, with
industry people demanding more government supports to explore
potential market.
The government meanwhile is likely to get clearance soon from the
Department of Veterinary Services of Malaysia. The certification will
enable Bangladeshi companies to export processed halal meat to
Malaysia. Another meat processing company, Peninsula Abattoir, is in
talks with buyers to export processed meat to Europen countries.
The pioneer in halal meat processing industry in the country, Bengal
Meat Processing Industries Limited, is exporting to the UAE and
Kuwait. Bengal Meat has almost trebled its export growth in a span of
nine months.
The company started exporting about 3 tones of processed halal mutton a
week to Dubai in May 2007, but now it exports 9 tones of mutton a
week. In September 2007, Bengal exported 12.5 tones of beef to Kuwait
per week, but now its weekly beef export to the country has reached 25
tones, according to the company officials.
The government also collected information on sanitary and photo
sanitary requirements of many countries to meet the export requirement.
The government is trying to support businesspeople as the processed
meat has export potential since Bangladesh is free from mad cow
disease. Local business people said the government should establish a
modern lab for testing exportable meat. Since establishing a lab is very
costly the government should help entrepreneurs.
Bengal Meat has a huge market for processed halal meat in East Asian
and Middle Eastern countries. If Bangladesh can have a small potion of
the market it could be a very potential sector. Currently, Brazil, China,
India and Australia are the main suppliers of processed meat to the
global market. The company started exporting about 3 tones of
processed halal mutton a week to Dubai in Ma 2007, but now it exports
9 tones of mutton a week. Besides, since September 2007, the Bengal
exported 12.5 tones of beef to Kuwait per week, but now its weekly beef
export to the country has reached 25 tones, according to the company
officials.
Bengal Meat has been getting huge response from Kuwait and from the
next as its will its export to the country with sending 50 tones of halal
beef to the country per week. Bengal Meat’s CEO Mr. Mostafizur
Rahman believes.
BudgetingBudgeting is very much important in order to implement the promotional program. Bengal meat finance department provide or report of total budgeting cost.
There are three steps should take when setting budget. Our industry , set his budget based on comparisons of each finding.
1. Bengal set budget based on his plan's goals and objectives and the schedules which have recommended.
2. Bengal overview company average of marketing budget spent as a percent of sales for similar companies in his similar program. Using this second method will let company see if our budget appears to be realistic in comparison to other similar companies. This figure will help us determine if that our budget is too high or low compared to the company average.
3. Go through a third exercise which involves estimating our primary competitor's advertising and marketing budget based on what we know about their activities. Thus Bengal gain more competitive and possibly gain more market share.
. Bengal also include:
an overview sheet illustrating our total budget a breakdown by medium a breakdown by product/market
Conclusion
Bengal Meat Company is the pioneer in meat industry in our country to
provide a high quality meat with competitive price. Their price is little
bit higher than traditional vendors as they are providing an exclusive
quality of meat.
They have succeeded to build their brand image locally and abroad.
They strictly follow the strategic marketing tools by which they have
gained a competitive advantage over its competitors. Bengal Meat has
faced lots of problems like sources of raw material, local rules and
regulation, demand, but they have overcome all the problems as because
they are customer focused company in our country.
References/Bibliographies
1. Website of Bengal meat, www. Bengal meat.com
2. Class lecture Course Teacher, Ms Monalisha Salam. MKT 221
Stamford University Bangladesh
3. Brochures and prospectus of Bengal meat.
Marketing Management by Philip Kotlar&Keller 1 Kevin 12th ed; Publish by
Pearson edu,inc.