Insurers' journeys to build a mastery in the IoT usage
Marketing plane
1. Executive Summary
PURITY has just begun business, and marketing is essential to its success and future
profitability. The Company offers Fresh coconut water for the people of urban area. PURITY will
penetrate the vending industry with innovative, first to market, high quality drinking product. The basic
market need is pure natural green coconut water with Stylish glass bottle which people can drink.
PURITY is more amazing because it's a penetration category. Coconut water has a massive
advantage as an ingredient - it connects to consumers' desire for neutrality - the biggest trend in
the food and beverage business in urban area. Coconut water meets consumers' expectations for
products that are free-from artificial colors, preservatives or additives and free-from any allergens.
PURITY has a unique service.
2. Situation Analysis
The Enchanted Vineyard “Purity” is a start-up business. Marketing is critical to its success and future
profitability. Their items have gotten solid interest from starting contacts with end clients and wholesalers.
Promoting will be basic to create huge interest for the items. The essential business sector need is for high
caliber.
Market Summary
PURITY has caught great data about the business sector and knows an awesome arrangement
about the regular traits of the objective clients. This data will be utilized to better comprehend who
is served, their particular needs, and how Purity can best speak with the clients.
Target Market
1. Health Conscious - 32%
2. Sick people - 43%
3. Tourist - 3%
4. General people - 22%
We separate our target market into four different segment based on their geographic demographic,
psychographic and behavioral characteristics.
i. Health conscious: Health conscious people basically the sports person are one of our
largest target markets. In this segment, we get a lot of potential customer. One third of our
total population is young. This is a significant number that we have to concern about them
and provide product, which is fit for them. About 5 million people of this total number are
health conscious. They spend about Tk. 500 in a month in average
ii. Sick people: Sick people are one of our major considerations. More than 1 million children
suffer from diarrhea that needs liquid food.
iii. Tourists: Every year a huge number of tourists visit Bangladesh. We want to provide.
Health
Conscious
32%
Sick People
43%
Tourist
5%
Others
20%
Target Market
3. iv. General Customers: Besides the above segments, the general customers will acquire a
significant portion of our target market.
On the other hand, we can also separate our target market into just categories. The segments are
kids, adults, and diabetic patients.
Market Needs
Our Research and development department found that people preferring the new taste because they
has need of fresh coconut water because it is good for health, and as they can consume the product
easily majority of people would like to have this product. And in south Asia region and
Bangladeshi are mostly affected by poor natural diet water therefore we have decided to produce
separate product. Therefore, customers can easily consume based on their desired need and also
can reenergized their daily life.
Marketing Trends
We are going to introduce our new diversified tastes product initially in 250 ml, 500 ml and 1 liter
bottles. It will be launched in plastic and glass bottles and also will be launched in different
packages like family, individual or friends’ package. According to the survey the target market
growth rate is increasing. Our company estimates that the future market will be satisfied with more
diversified and segmented product. Our target to make new market segments according to
customers’ needs and wants.
Market Growth
Last year Purity industry reached $16 million in sales nationally. As more options begin to be
offered, market growth is forecasted to increase. This is because people are likely to buy more
product they recognize this product is unique and also value added. Sick people and health
conscious people are more likely to buy coconut water because they think this is good for health.
Other people also buy this product because they feel safe and secure over this drinks. So overall
market growth increases.
4. SWOT Analysis
5.1 Strength 5.2 Weakness
Strong distribution channel,
Totally new taste in the soft drink
industry,
Availability of raw materials,
Efficient and productive worker,
Strong brand name in the soft drink
industry,
Easy manufacturing process,
Technological and Marketing
Knowledge.
Limited Financial resources,
Less product Classification,
New in the Market,
Taste a bit differ from the natural
green coconut water,
It is easy to copy the idea by others.
5.3 Opportunity 5.4 Threat
0
5
10
15
20
25
30
35
40
45
Health Conscious Sick people Tourist Others
5. No Competitor in the market,
We can export this product in future
operation,
Existing distribution channel will be
used,
High growth rate in this industry,
Might have a chancetoget subsidiesby
Govt. to export.
Competitor can produce the same
product,
Downward pressure on pricing,
Political instability, economy etc,
Alternatives are avoidable in some
segment.
Competitors
Our product is new in this industry therefore primarily we don’t have any competitor but as the
product is low involvement and habitual buying product therefore pricing is a big factor. Within
product line this product is entirely new in the market. On the other hand we have soo mane
competitor in the drinking industry like Pran Mango Juice, Danish Mango Juice, Star Ship Mango
Juice, Sezan Mango Juice etc.
6. Five Force Analysis
Product Offering
Description of the Product
Coconut water is the clear liquid inside young coconuts, not to be confused with coconut milk. As
the fruit matures, the coconut water gradually is replaced by the coconut meat and air. A very
Industry rivalry:
medium,products
are interchangeble
numerous
established
competitors.
Substitutes: high,
otherdrinklike
Pran,Danish,coca
cola,pepsi,StarShip,
fruticaetc.
Buyer Power :
Low,product sold
throughmany
smallerretailers
withlimited
berganingpower.
Threat of Entry:
high,onlysinge
companyinthe
industry,anyone can
enterinthe market.
Supplier Power:
Low,Raw materials
are plantiful.nothreat
of forward
intregration
7. young coconut has very little meat, and the meat is very tender, almost a gel. Coconut water has
long been a popular drink in the tropics, especially in Tropical Asia and Trinidad and Tobago,
where it is available fresh or bottled. It is naturally fat-free and low in food energy (16.7 calories
or 70 kilojoules per 100 grams).
Coconuts for drinking are carefully packaged and sold in many places. These are typically Asian
coconuts whose outer green husk has been removed, and the remainder wrapped in plastic. In
Central America, particularly in Costa Rica, it is found and sold in strategic highway stops or on
the beaches; there, the coconut water is called "agua de pipa", and the coconut is cut in front of the
customer to ensure its freshness. Coconut water can also be found in regular cans or tetra packs
(and often has coconut pulp or coconut jelly added) and is also marketed as a sports drink because
of its high potassium and mineral content.
While people prefer different flavors of coconut water, generally a green coconut with some age
spots is the most popular. Coconuts from various parts of the world also differ in taste. For
example, Indian coconuts tend to be salty and Brazilian coconuts have a sweeter water and flesh.
Food Value
Composition of coconut water % Water 95.5
Nitrogen 0.05
Phosphoric acid 0.56
Potassium 0.25
Calcium oxide 0.69
8. Magnesium oxide 0.59 mg/100g
Iron 0.5 Total solids 4.71
Reducing sugars 0.80 Total sugars 2.08
Ash 0.62
Offerings to the customer through our product
Affordable price.
Natural test of papaya juice.
High quality drink.
Availability to the customers.
Available throughout the country.
Keys to Success
Highly packaging in order to Attracting customers who find value in the drinking product
Free customer service
Maintaining a cost of goods at below 50%.
Maintain Customer Relationship Management, Partner Relationship Management, Supply
Chain Management, and Knowledge Management effectively
Marketing Strategy
The marketing strategy will emphasize the strengths of both the company and the products. Our
marketing strategy is based on becoming the potential choice for consumers in the soft drink
market. Our marketing strategy is based on superior performance in the following areas:
Product Quality.
Product Price.
Superior Test.
9. Mission
Our main mission is creating brand image, brand loyalty in the mind of the consumers through
better addressing their need and making them satisfied. We would like to spread out the product
within the country.
Marketing Objectives
Maintain positive steady growth each month.
Increase market penetration every quarter.
Generate increased brand awareness quantified by reactions/ feedback of customer.
Satisfy customer and do maximization of profit.
To capture greater market share
Financial Objectives
A double digit growth rate for each future year.
Reduce the variable costs through efficiency gains.
Reach profitability within the first year.
To reach the breakeven point within 15 months.
Increase total sales volume.
Marketing Mix
PURITY marketing mix is comprised of these following approaches to pricing, distribution,
advertising and promotion, and customer service.
Pricing: the pricing scheme is based on standard industry practices.
Distribution: All of the products can be distributed within the country.
Advertising and promotion: We initially will give more emphasis on paper ads and TV
commercials. I am anticipating that this will have a massive impact on the teenagers and
other enthusiasts. Few neon signs and bill boards of “PURITY “also can be set up in some
core points of the city. I hope to reach 75% of my customers through effective advertising.
10. The most successful advertising will be through NTV, Channel I, Bangla Vision and RTV,
which are the most popular television channels in the country.
Customer service: provide effective customer service. Maintain customer relationship
through providing good quality product.
Financials
Conclusion
In conclusion we can see that, the product the company is going to launch has a bright future in its
market. As the product is innovative, the consumers are going to appreciate it. And according to
the R&D (Research and Development) department this product will be a strong product mix for
our company. And once our ““PURITY”” will reach to the hand of our every targeted customers
we will be able to capture the market.