'Importing a Foreign Product in Bangladesh\r'

'INDEPENDENT UNIVERSITY BANGLADESH [pic] de none OF THE prevail: INTERNATIONAL MARKETING SUBJECT CODE: MKT 401 NAME OF THE INSTRUCTOR: ABUL KHAIR JYOTE SECTION: 01 NAME OF THE GROUP: MUSTANG visit OF SUBMISSION: 01/11/2012 NAME OF THE GROUP penis NAME: ID: E-MAIL: NUMBER: ANAN ASHEQ AREFEEN 1020644 [email&#clx;protected] com 01719154064 MD. RIAZ SHOAIB 0910383 [email protected] om 01673390837 FAHIM MUNTAQIM 0921111 [email protected]@yahoo. com 01915483658 FAHAD HOSSAIN 0921338 [email protected] com 01677676794 TAWSIF BIN MAKSUD 0910374 [email protected] com 01671070843 gabardine appliance is a foreign comp whatsoever and it’s trying to bewilder in Bangladeshi grocery store. In Bangladesh the average monthly income is ab come forth 500 dollar bill a month which is 35000 in Taka.So the income scale is medium. agree to our survey we figured out that nuke oven is engagement by the hoi polloi whose income scale is about 70000-80000 or higher in the month. If we consider the social mark, we set in motion the commonwealth from the higher and higher centerfield assort argon using the microwave oven oven and the rest of the pack argon comfortable with the gas mountain range. In Bangladesh, the merchandise of microwave oven is non that goodish enough. Our company send packing non keep open in this limited occur of market. The company rattling lacks a capacious market to do business.In this case, we got unaccompanied i option and that s to expand the exercise of microwave oven in the country and to do so we take up to tar abide a wise discussion section. We hobo’t unspoilt figure on solitary(prenominal) two classes. Rather we need to concentrate on the middle class and upcoming middle class populate. To expand our market, we tar acquireed the middle class and upcoming middle class families and to do so, we need to incite our mathematical convergence as a permanent need. For warning, if we theo rize of a house appliance, we always think about a tv, refrigerator, furniture etc. So we need to work in such a way that we hobo percentage point that microwave oven is a must in a home appliance.We scram gone thru most(prenominal) of the middle class families recently to get their intellection and found that they mass rattling afford to mountain a micro wave oven. The monetary value of a microwave oven is about 7000-10000taka except the worry is the physical exertion cost. They say microwave oven consumes lot of galvanicity and it creates a huge electricity bills which some period get beyond affordability. Even most people swear the oven desexualize nourishment discretions bad. Many of them don’t get laid how to use the microwave oven; even many of them be amiss the microwave oven that it is a source of grooming intellectual nourishment.Yes of manakin microwave oven is a preparation mathematical product but it is not suited for our Bangladeshi foo d habit. We washstandnot cook our food in microwave as it is make on European context. It is very good for pee made food. Since, Bangladeshi people ar not habituated in ready made foods; we potbelly promote the oven as a source of neaten up the food by heating it. So the chemical element that mostly leave alone create problem busybodied in Bangladeshi market is: 01. Huge amount of electricity consumption 02. flock misinterpret the product 03. People think oven make food taste badThe most important and common problem is the electricity consumption. Microwave re all toldy takes a huge cadence of electricity to operate. To sort out this problem we are concentrating on manufacturing as special kind of oven material bodyd the electric convection oven. In this oven it has a special device or an adaptor which make the oven consume less null and heat the food like the typical microwave ovens. A table is given below doohickey |Temperature |Time |Energy |Cost | |Electric Oven | 350 |1 hour |2. 0 kWh |11. 2 | |Electric Convection Oven |325 |1 hour |1. 39 kWh |5. 00 | |We’ve made a equal between the regular oven and our special oven and figured out in average people can actually save 6 taka in every one hour. People whitethorn be acquiring provoke on our product because we squander made it cost effective. We need to promote our product in a way so that people should realize that microwave oven is not a product to cook, rather it helps people to get the food fresh by heating it. People have misconception about the microwave oven that it makes food taste bad. We need to reduce such recognition and imply that thither is nothing to do with the tastes.It just heat up the food to make it fresh. such(prenominal) promotion whitethorn get a huge response because nowa mean solar day metres people are getting busy day by day. Even in many families, both(prenominal) husband wife is doing avocation and thitherfore they don’t have ofttimestimes time for preparation. Even if we look at the bachelors, they cool off don’t get any time to cook. Microwave oven is the best solution to cope up with their busy days. In the segment of busy people they would get a relief of cooking some(prenominal) times a day. All they need to do is to cook food once a day and get fresh food all day by heating with microwave oven.We can similarly promote the product by bad a recipe based on microwave cooking as a bonus. In fact we allow too provide them with special bowls suitable for microwaves. We can overly provide a adeptness of membership card to a particular obtain mall where they can buy their necessary groceries in a minimum drop. In this way, people may get interest of buying our product. We can excessively make the microwave open which can be operated by the remote control. It go away be lite for the users to operate it. The advantage of microwave oven is it makes the food fresh.Maximum people faced such problems in cooki ng and that is when food is been cooked in the after(prenominal)noon, we prefer to have that in dinner party too. So the food that was cooked in the afternoon need to heat up on the gas stove which makes the food dry. So to regain the previous taste, much spices and water should be given and again re cook the food which is very b some othering and also it kills time too. In this case, microwave oven just heat up the food to make it fresh and it do not dry up the food which is an advantage.Tagline: Though we are manufacturing and marketing the product in Bangladesh for the genuine people, I’ve considered THREE taglines â€Å"WHITES; FOR THE PEOPLE, BY THE PEOPLE, WITH THE PEOPLE” â€Å"LEMONY new 24HR” â€Å"HEAT IT, FRESH IT” Thing we need to think is that how entrust we actually enter the market after targeting our guest. We first thought about qualification a permanent manufactory to get the market permanently but we cannot do that for many circu mstances. The Bangladeshi al-Qaida is not suitable for our company. Moreover in Bangladesh, policy-making turmoil, projection strike and most important problem load shedding is the daily situation.Our company cannot uphold with these problem. In this situation we are planning to get involve to a domestic company in Bangladesh in correlative game. We are interested of making a roast venture with Walton. Walton doesn’t conciliate micro ovens. So it power be a good opportunity for them to make a new segment of product in their company and we have the advantage of using their infrastructure. More over we can make a deal with them such as we will make the factory jointly by spreading 50/50 and our company will provide all the necessary machineries. Walton will save and hire the labor to manufacture our product.Walton and whites works in a joint venture and so we can use their distribution channel. In the contract of joint venture we will offer them 70/30 profit and bargai n the profit margin up to 40%. Then we will also bargain about the selling of our manufacturing product. We will try to bring over them allow us to sell our product on the other Asian countries by exporting. Such as if 100 micro ovens are manufactured in the industry of joint venture, 50 micro ovens will be sold in the Bangladeshi market and there would be a 50/50 profit share on the first litre ovens.Then they must allow us to sell the other 50 micro ovens to other Asian countries by exporting thru Walton and we would give them 20% profit or may bargain up to 30% for the die 50 products. According to the contract Walton will asseverate the labor cost and we have the right to employ our own expert representatives to watch out the both the internal and external situation. Our company wills not toler any trade union inside the venture premises. governing body officers are not allowed as deputation. Yearly inspect should be done by the renowned auditors.Finally Walton cannot elic it this joint venture within 10yrs. It would be good for both of us because Walton got a new segment of their product line, and they can make some wasted profit from the product and our benefit is our market is been diversifying. In fact the best advantage we got in this joint venture is reducing the labor cost as the labor cost in Bangladesh is very cheap. The factory overhead cost is very cheap. People here actually want to do overtime melodic line in a certain payment where in the western countries people don’t want to do job more than 8 hr.In our point of view, they should take the offer because by working with us, they poweriness get many resourceful pronounceation, technologies, can take aim skilled workforce to develop their industry. The government cogency verify this thing and to develop their domestic industries they might be very co operative with us. For example we don’t need to give province fee in the port, more over we might get a facility to expo rt our product from the Bangladeshi port on behalf the Walton in a half tax rate. The disadvantage of this joint venture is the leak of technology and information.If the country’s content level business policy frequently changes, it may affect our company profit. The most important come forth is the corruption. If the corruption can’t be controlled, rectitude and order situation is not good in the country and lack of good governance may create a huge problem in this joint venture. Working in Bangladesh as a joint venture it saves a lot of coin because it has less responsibility such as labor cost and maintains, political turmoil, load shedding etc. The home country would take care of these. The litigate we are saving a huge budget is called the economy of scale as it utilize the bullion very efficient way.Establishing a factory in Bangladeshi premises would cost lot of money. We believe our company is working not only for the highest income mob or group but for the every level of people. We are highly dedicated on fulfilling the customer need. We don’t work just for a profit. Considering the people’s need and the income status, we offer a facility of buying our product in an installment. People can buy our product in 3 month Period installment. It might be a chance of encouraging people to buy our product. To inform the people about our product, we choose to make commercial advertisement in various public channels.Nowadays cooking program in TV channels has gained a good reputation. In this case, what we can do is to assistant a cooking program or we can arrange such program in TV channels based on the recipe which is relate on microwave cooking. For some reason, if the budget gets tight, we will request some of those cooking programs to use our microwave and order indirectly the audience to buy our product. We can also promote our product by giving the opportunity of demo using in the retail stores in the country. We also can arrange a flash mob in the busiest locality to get the product in the peoples mind.We can also helper many inter country sports to spread the name of our product. In the last step we will also try a pilot operation on marketing our product in the Bangladesh defenses especially in the Army. The name of this pilot operation is called â€Å"THE VETERAN”. In the hill tracks or in the borders our soldiers face a lot of problem on getting fresh food. They often complained about it. They can’t get fresh food just because in those areas they are in the call of duty for the nation. They are not authorized to leave their position or to redeem their barracks for the sake of the country’s safety.Yes there are cooking facilities in the barrack but there is certain time of three days meal. If a person misses that time, he or she will not be allowed to get the meal. So in this case, they have to cook it for their own. Now the soldiers in the duty cannot often return in time. In this case, they don’t need to cook again rather all they need to do is to heat up the meal. So to sort out such problem, we might influence them to use our product in 20% discount rate. This discount is named as the veteran rate. We are not actually just doing business but we also took the oath of serving our nation.\r\n'