designing a customer driving-strategy and mix for a new company in the market place.
this is a group work term paper for MKT-101 (Principles of Marketing) course.
to complete this work one should know more about Principles of Marketing and the markets , and also think as a marketer.
2. Page 2
Submitted To
Ms. Shahper Shams
(Senior lecturer)
Department of business administration
East-West University
Submitted By
Group Name: Next (New Experiment Team)
Group Members:
Members Name Members ID
MD. Taibul Islam 2013-3-10-020
MD. NazmusSakib 2013-3-10-021
MD. AsadurRahman 2013-3-10-130
3. Page 3
INDEX
Page
Number
Topic Name
1 Index
2 Abstract Introduction
3 Selecting target market segment
4 Choosing Targeting Strategy
5 Choosing the Right Competitive Advantages
6 Selecting an overall positioning strategy
7 Product or service classifications
8 Product and service decisions
9 Service characteristics
10 Services Variability: and Pricing
11 Pricing Strategy
12 Price adjustment strategies
13 Channel Level
14 Customers and business marketing channel
15 Exclusive Distribution, promotion and format
16 Conclusion
4. Page 4
Abstract
We, the “self-e” brand, now provide “self publication tools” in
Bangladesh for the self publishers. And we also like to provide them a
huge platform to flow their creative works.
So, our motto is “flow of creativity”.
In this section, we try to discuss our brand‟s main and subsidiary product
along with designing our customer-divine strategy and mix.
Introduction
The theory of self publication is started in 1971, in America. In that time
this was new and did not acceptable by the readers. But in this modern
world the user of internet is growing highly and the “e-book” readers are
also increasing more. So, self publication is now passionate. The authors
like to do it as their own way. All the works from the manuscript to
editorial is done by the self publishers. For this reason, there have so
many organizations to encourage the work and give the self publishers a
platform to flow their work also.
Now our developing country Bangladesh has its running view to get the
word “digital” and move our country‟s economy as like a developed
5. Page 5
country. As a result, so many organizations raise their hand to make our
country “Digital”.So, we want to start this self publication theory in our
country. We like to provide all kind of “self publication tools” to our
country‟s self publishers and also give them a suitable platform to flow
their creative works. In that case our main product is “ISBN code” and a
“Book cover” for those self publishers who cannot make it.
There have so many authors who want to see their work in the “e-book”
format. For them we think about our subsidiary product means “editorial
& proof reading section” at a lower rate.
Our readers can read their e-books from our platform and able to buy
them also. And all this work obviously has done through internet.
Selecting Target Market Segment
After evaluating different segmentations, we found that „MICRO-
MARKETING‟ will be the best targeting strategy because Our main
product is providing the ISBN code at a lower cost to the self publisher.
So our market segment goes with individual marketing.
We also provide the interested author a platform to publish their creative
works which is only available in Bangladesh. Now the market segment
goes with local marketing.
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On the other hand, the platform that we are providing in that our target
customers can get their lovely books what they want to read. IN that
case we are in “DIFFERENTIATED MARKETING” Segment.
Choosing Targeting Strategy
Figure: Factors of Targeting Strategy
Company
Resources
Product
Variability
Product’s Life
cycle
Competitor’s
Marketing
Strategy
7. Page 7
Choosing The Right Competitive Advantage
Basically we are the first company to provide a service like ISBN code
for self publisher.
So we do not have any competitor in the market, but we do have some
advantage to grow more consumers and the advantage we offer as below
A website for books to be published
ISBN Code at a cheaper rate
Open entry in the website
Free Cover Page
Home Delivery
Full Free on first submission
No additional charge
Available copies of E-books on the website
User manual guide
A Blog for personal writing
Advantages That We Provide
8. Page 8
Selecting An Overall Positioning Strategy
Figure: Possible Value Propositions
More For Less:
We provide more and opportunity along with their benefits to our
customers.
Like we are offering “Get Your Book Published on our Website”---------
more benefit and better publish at a lower price.
To reach their higher attention and keep their smile we offer some
attractive skims and free cover page for all kind of product that we have.
9. Page 9
Product Or Service Classifications
Figure: Product Type
Mostly we sell the costumer Unsought products because these product is
not so much knowledgeable by the customers except self publishers.
However our subsidiary products also have its own “Convenience”
nature, as these are frequently purchase, little planning, little comparison
etc.
10. Page 10
Product And Service Decisions
Figure: Individual Product Decisions
Product Attributes:
There is no doubt anyone about our product and its quality, as all these
are the dictionary that full of creativity.
Branding:
For selling our product we choose a brand name that is “self-e” and our
motto is “flow of creativity”.
Packaging:
Our cover page that is attached in the front of every book which is made
by the self publishers or us is a great deal of the packaging.
Labeling:
When a reader open the book they will find a copyright page which have
contain the name of our brand and some words from us about the book is
work as labeling.
Product Support Services:
We have a survey to inter in the market place. From that we came to
know that some self publisher do not know how to make a cover page of
a book. So we provide the cover page for them.
Product
attributes
Branding Packaging Labeling
Product
support
services
11. Page 11
The author who like to write in computer and trying to publish their
book also, we give them editorial & proof reading section at a lower cost
than others.
And our platform where readers can able to buy and sell books that is
internet.
Service Characteristics
Figure: Four Service Characteristics
Services
Inseparability
Variability
Pershability
Intangibility
12. Page 12
Services Variability
Our services that we provide for our customers have its own variability.
Our Services quality is more and better than others. We reduce the
tension of self publishers who purchase our product and get our services.
We provide them the ISBN code without any tension.
On the other hand, another service for our authors and readers is the best
service that we get in our previous survey.
Pricing
Value Based Pricing:
Figure: Value Based Pricing
Set target
price to match
customers
perceived
value
Assess
customer
needs and
value
perceptions
Determine
costs that can
be incurred
Design
product to
deliver
desired value
at target price
13. Page 13
For The Main Product:
At first when we think about our product we like to set the cost-based
pricing. To get an ISBN code to publish only one book is too much. But
when we think about our customers and their creative works that they
complete with hard working we set value-based pricing for them.
For The Subsidiary Product:
Al most all the online shop sells books to their customers in high price.
To consider this situation we set a suitable price of all kind of books to
our readers with a free home delivery.
Pricing Strategy
As our service is new in market, peoples still unaware about our service.
That‟s why we will go for MARKET PENETRATION SRAGETY. We
will sell each ISBN code at 500 BDT. We want to enter the market
quickly and deeply. Because of this strategy our sale will goes up but at
first our profit will less, but in the future when people will relay on us
we will think about increasing price. We will slowly entre the market.
Because of the low price we hope we will be able to attract a large
number of buyers and a large market share.
14. Page 14
Price Adjustment Strategies
At different situation we will offer various offers. Such as:
Discount:
From the very first day of opening we will offer discount. And that is if
anyone buys 5 ISBN code together he will get one free. And for them
who have bought a code before from us he/she will get a discount of 5%.
Promotional Price:
During special occasion we will offer various offers. During EID ,
PUJA, CHRIMAS, there will special discount for both new and old
customers. Special party will be arranged and VIP persons will be
invited.
15. Page 15
Channel Level
Figure: Channel 01
As we are providing the tools of self publication, most importantly the
ISBN code and we are the first company to give such an opportunity; so
the customer needs to contact us directly.
We do not have any intermediary levels because consumers
communicate with us directly.
So we are following Direct Marketing Channel which is also known as
Channel 1.
Producer
Consumer
16. Page 16
Customers And Business Marketing Channel
We are in vertical marketing system because we produce ISBN Code for
self publisher.
AS a Whole seller we fascinate our consumer with a website where they
can buy or sell their books.
We make cover page for those who cannot design their own book cover.
On our website there is lots e-book available that might help our
customer in different way.
Figure: Vertical Marketing System
self-e
(producer)
self-e
(wholeseller)
self-e
(retailer)
consumers
17. Page 17
Exclusive Distribution
As a new company in the market firstly we would like to limited author
to publish their book via our platform.
We also provide ISBN code and other requirements of self-publication
tools like cover page, additional benefit etc. to less costumer.
So we can say we are exclusive distributer as we are providing limited
numbers of tools to a limited or high profile consumers.
Promotion
Every product or service needs promotions. The main purpose behind
various promotional activities is to make the consumers know about the
product. Make them interested about the product or service. And if the
consumer buys the product or uses the service, there lies the success. As
it is a new service in Bangladesh, so many people still unaware about
our service. So we will go for various ways of promotional activities.
Message Format
Because it is a new service we will try to serve as much information as
possible. There are lots of media that we publish our product. We will
operate our promotional activities through:
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TELEVISION:
Television is the biggest way to for any kind of promotional activity.
Almost every house of our country has a television set.And most them
also operate their program in foreign countries. So, through these
channels we also will be able to let the foreign people as well as those
who lives abroad know about our service. At primary stage there will be
a 10 seconds advertise. And after that just let the people remind about
our service there will be a short add its duration will be 5 seconds. At
first the ad will go regularly on 10 channels. After a week the short ad
will go on 5 channels once a week.
RADIO:
Now a day‟s radio is also a big field for promotional activity. Including
non-government radio channels there are now 12 radio channels. At first
week every radio channel will telecast our ad which duration is 5
seconds. And after one week our ad will telecast by top 5 radio stations
twice in week.
PRINT MEDIA:
Print media is also can be a big way form promotional activities. Now
there are approximately 12 daily news papers and 4 online newspapers.
At first week top 5 newspapers will print our AD. And from second
week any 2 days newspapers will print our advertisement.
19. Page 19
SOCIAL NETWORK SITES:
Social network sites have been a great way of promotions. Millions of
people around the world are connected through various networking sites
such facebook, twitter, whatsapp, wechat, etc. everyday peoples spend
thousands of hours after this sites. So, if we publish our ad here. We will
be able to connect thousands of people.
BILLBOARD, POSTERS AND LIFLATES:
Many new products and service use billboards for promoting their
products and service. We will hire 5 billboards around the Dhaka city.
Each of the board will be in populated area such as shahbag, gulshan,
moghbazar and mirpur. Posters are also a great way of promot. Leaflet
will also be there.
Conclusion
We always think about our customer‟s choice, needs and demands. We
understand our customers and what they want. For that, we discuss here
about customer-divine strategy and mix. And we are so hopeful about
our future by understanding our marketplaces.
At last, we like to say all the self publishers and the interested people in
this kind of section try to be a creative one as we have a beautiful mind.
We, the “self-e” brand, are with you and will be you to flow your
creativity.