Launching campaign of Fortune Rice Bran Health
Oil in BangladeshAnalysis through IMC point of view
UNIVERSITY OF LIBERAL ARTS BANGLASDSH Course Title: Integrated Marketing Communication Course Code: MKT ~ 505Section: 01
Prepared For:
Tanvir Ahmad
(Course instructor)Prepared By:
Ahammad Khan ~ 131 051 056
Mir Asif Ahmed ~ 122 051 041
Faisal khan ~ 122 051 06512th August, 2014
Contents
5Executive Summery
1Introduction
2Bangladesh Edible Oil Limited (BEOL)
3Brands
2Launch Fortune Rice Bran Health
3Launching Campaign
3IMC Planning for Launch
3Objective for the Launching Campaign
4Initial Target Market:
4Integrated Marketing Communication Tools
4TVC
5RDC
5Print Media
6Trade promotion
7Online
7Budgeting
8Customers feedback
81. Aware about the product
82. Effective Media
93. About Health
94. Use of Product
105. Like or dislike
106. Introduce
117. Motivate For buy this brand
118. Convennient place
9. Affordability.12 10. Maintain quality 12
13Better tools in terms of our perception.
Recommendation ....14Evaluation and Feedback of Launch...1315Conclusion
16Reference
17Questionnaire
Executive Summery
BEOL was established in 1993 and has since been aggressive in the marketing of consumer pack edible oil under the well known household brands like Rupchanda, Meizan, King's, etc. Although BOEL has a lot of Brands like Rupchanda, Meizan, KINGS, Olivoil, Lucky, Vikings etc but as their customer expectation toward the company is very high so, they keep innovate new product which can fulfill their customer needs and wants by keeping them healthy. In Bangladesh a lot of people facing heart disease in their young so there is a big market created in Bangladesh for this kind of product. If awareness about the brand will create a buzz in the market with a proper communication then this brand can sustain for a longer period of time. Fortune Rice Bran Oil is a brave attempt by BEOL because rice bran is not a regular product and price margin will be high because of cost. So BEOL will work a lot for creating awareness about the quality, price and availability of the brand. In their launching campaign they use TVC as the most costly medium of commutation and they produce 3 TVC for this launce. It takes the 50% of money of their budget. They allocate 5% for RDC, 15% for print media, 5% for sales promotion, Trade promotion 20%, online 5%. But they should use some innovative and new IMC tool for communication like website pop up, free sampling, Sales promotions merchandise etc. They also should make aware to retailers about the recent trend of communication. Companies should start doing innovative promotions for their brand. IntroductionBEOL that is a trendsetter and pioneer in a multitude of facet had a huge task in hand. The attitudes of the consumers with respect to the company had to be favorably developed. No groundwork existed and this could be attributed to the unorganized market back then in 1996. By crafting a credible, people-centric and innovative product offering, This Company began its groundwork slowly, yet steadily. The TVCs and campaigns in other mainstream mediums did not merely advertise the brand or its value proposition; they attempted to genuinely connect with the consumers and equip them with information about staying healthy and fit. Recently Changing patent of communication BOEL change their promotional strategy to compete in the market. They do 360 communications to ensure a larger number of customer bases. Although BOEL has a lot of Brands like Rupchanda, Meizan, KINGS, Olivoil, Lucky, Vikings etc but as their customer expectation toward the company is very high so, they keep innovate new product which can fulfill their customer needs and wants by keeping them healthy. In recent times BOEL is willing to introduce one of their products which can reduce the risk of various disease which causes by consumption of too oily food and make their customers healthier. Fortune Rice Bran Oil is 100 percent rice bran oil with approximately 1000mg/100gm content of Oryzanol. Oryzanol increases HDL (good Cholesterol) and it decreases LDL (bad cholesterol) levels in the blood, which prevents heart disease. In the month of May 2014 they are planning to introduce their brand for this market which can create awareness about healthy living for people. In Bangladesh some business personnel are trying to exploit the market of food and edibles by using harmful chemical and formalin. This kind of step by BOEL can make a revolutionary change in the edible oil market.
Bangladesh Edible Oil Limited (BEOL) BEOL, a 100% foreign owned company with head office situated in Singapore, is a joint venture between Wilmar International Limited of Singapore and Sime Darby Berhad of Malaysia. Wilmar, Asias leading agribusiness group, is the largest processor and merchandiser of palm oil and lauric oil globally, as well as the largest palm biodiesel manufacturer in the world. Wilmar is today amongst the largest listed companies by market capitalization on the Singapore Exchange. Since Darby Berhad as a well diversified Malaysian based MNCs, operates in over 20 countries with core divisions comprise plantation, property, motors and energy & utilities. Since Darby is also one of the largest listed company on Baisa Malaysia. BEOL aims to improve the quality of people's lives by providing constantly improved quality products with full customer satisfaction.BEOL was established in 1993 and has since been aggressive in the marketing of consumer pack edible oil under the well known household brands like Rupchanda, Meizan, King's, etc.
From established till now, BEOL providing the highest quality products and customer services to ensure customer satisfaction in order to achieve their business growth. BEOL has continuously improved quality and introduced new products and packaging to bring in value added elements to the consumers of Bangladesh to consolidate our leading position in the market. BEOL is the first company to introduce packing of edible oil in PET bottles, pouch and bag in box and also the first to launch a sachet pack in mustard oil in Bangladesh.
Brands
BEOL says they are passionate to understand their consumers' want and need. Theres Brands aim to improve the quality of people's lives through continuous innovation and uncompromising quality control.
Ensuring happy moments for you and your family through uncompromosing quality.
A healthier product with added benefits for the mass people of Bangladesh.
KINGS
Lee pal ya mal
First Cold Pressed Extra Virgin Oilve Oil.
Super Refined Palmolien, excellent for deep frying.
Excellent shortening for baking purpose.Launch Fortune Rice Bran Health
Bangladesh Edible Oil Limited (BEOL) launched a new product named Fortune Rice Bran Health of Indian Adani Wilmar Limited (AWL) with an event held at BRAC CDM in Savar on April 12, 2014. Biprabuddha Chatterjee, head of R&D, Adani Wilmar Ltd., unveiled the product in the presence of Inam Ahmed, general manager, BEOL and Shoeb Md. Asaduzzaman, head of Sales & Marketing, BEOL. Top management of BEOL and all BEOL distributors were also present at the launching event.
"Fortune cooking oil, an Adani Wilmar brand, has been a cherished name in every household in India for a decade. Over the years the brand has become India's largest selling cooking oil and has been consistently rated as India's no. 1 edible oil. We expect this oil will become the most popular brand also in Bangladesh" Biprabuddha Chatterjee said.
BEOL, with its reputed consumer brands like Rupchanda, Meizan, King's & Olivoila, has established itself as the most trusted edible oil house in Bangladesh. BEOL, being a subsidiary of Adani Wilmar Ltd., has launched the first Adani Wilmar brand in Bangladesh.
Fortune Rice Bran Health is 100 percent rice bran oil with approximately 1000mg/100gm content of Oryzanol. Oryzanol increases HDL (good Cholesterol) and it decreases LDL (bad cholesterol) levels in the blood, which prevents heart disease.In Bangladesh a lot of people facing heart disease in their young so there is a big market created in Bangladesh for this kind of product. If awareness about the brand will create a buzz in the market with a proper communication then this brand can sustain for a longer period of time. Launching CampaignFortune Rice Bran Oil the brand name they are introducing in edible oil market in the month of May, 2014. Initially Company targeted to create a buzz in the market and make people aware about their product before launching a new product. By introducing this Rice Bran they start a new category and added a new product which create a new market as well and increase the product portfolio of the company.IMC Planning for LaunchBefore start their pre launch Campaign Company planning about how can they make better communication for their target market. In the start of their planning the company personals who are responsible for this idea of launching a new product sit together and identify their objective for the campaign. Then they set their budget that how much they are actually able to spend behind this launch and select which tools of IMC they will go to choose for their communication. Then they consult with media agency Asiatic for their Television Commercial, space purchase, creative writing and production of TVC as well. They also consult with another media agency Market access for their merchandise design and trade related promotion.
Objective for the Launching Campaign Introduce a new product to the market.
Create awareness about the benefits of Fortune Rice Bran Oil
Initial Target Market:Company targets the main capital city initially for this brand. As per the company is concern there end user of this brand are 35 60 above and their income level of about more than 50000 taka. As their brand is not suitable for all socioeconomic class they divide the city into 4 to 5 territory and target those people who hold the middle class, upper middle class and upper class levels in the society. They are planning to cover 30% - 35% retail shop for their product availability. Company distributes their product to all super shops, wet market retails and big stores of various areas of Dhaka city. Which will cover their targeted outlets and at the end they can reach to target end user also. Company launches their product at last may 2014 and they are target to cover 100% of their targeted outlet but in reality within 2 months they cover 80% of their target outlet which indicate that there is a problem in their collaboration of IMC and their distribution process.Integrated Marketing Communication Tools
Initially company need to present their product to their target end user and their customer who are the super shop owners and retail business people inside Dhaka city. Among various tools of IMC, BOEL choose some of those which can suitable for them to reach mass number of people at a minimum level of Cost. TVC3 TVC makes for this campaign. Those TVC was transmitted at 9 channels. Channels are ETV, NTV, Independent TV, Jamuna TV, Channel I ekattor tv, Bangla vision, ATN News and ATN Bangla for 2 month ,250 times as their committed time 7 pm to 9 pm. RDC RDC at Radio forti within 9 pm to 10 pm. Print Media
Most effectively they use print media .They select two renowned daily newspaper Noyadiganto and Bangladesh protidin for their promotion. They also do some billboard advertisement in several places.
Sales promotion For promoting their new brand BEOL give free gift along with their Fortune Rice Bran Health .They gift Dettol hand wash wet 200 ml worth taka 90 with every 5 litre bottle of oil. Trade promotion
For retailers and superstores BEOL discount 25 tk for buying every 5 liter of Fortune Rice Bran Health.
Online Face book fans page https://www.facebook.com/FortuneRiceBranHealth . Also gives some advertisement in different website.Budgeting
BEOL set their budget for this campaign at the start of January 2014.Almost 4 month before the launce .This budget is only 23% of their marketing budget. They set more than 90 lac taka for their launching campaign. As TVC is the most costly medium of commutation and they produce 3 TVE for this launce. It takes the 50% of money of there budget. They allocate 5% for RDC, 15% for print media, 5% for sales promotion, Trade promotion 20%, online 5%.
Sales promotion
25% Point of Purchase Media Adverting
70%
Publicity
5%Direct MarketingCustomers feedback
We take interview around 30 people in various area .To indentify the effectiveness of this launch camping.1. Aware about the product
. 60% of our responds they aware about the product and other 40% are not aware about the product.2. Effective Media
60% of our responds recall the product for TVC, 40 % know about the product from newspaper so TVC is more effective media we can say that.3. About Health
50% of our responds says yes Fortune Rice Bran Health is healthier than other product and 20 % dont think that. 4. Use of Product
Most of them never use this product. 30% use it just once.5. Like or dislike
60% people like our product and other 40% hate it.6. Market Demand
Most of our responds think that it should introduce more in the market7. Motivate For buy this brand
About 50% people motivated for buy this product just for seeing advertisment. Arount 22% consumers moivated while they go for shopping.
8. Convennient place
45% responds told that they dont get this product on their convenient place 9. Maintain Quality
63% of our responder dont know about the quality of this product. 23% mention that they maintain good quality.10. Affortability
Most of our responder think that they should maintain affortable price level.
Better tools in terms of our perceptionAs per our analysis we find some of their tools are very much effective. Trade promotion is one the most effective tools because most of the people are getting motivated when the product is visible to them while shopping. So, trade promotion can help the brand more visible in retails. People in subcontinent always motivates for free gift by their culture. Sales promotion can be a good tool for making people habituate for this brand. In recent time mostly people stays in social sites. This media is very much effective these days because of largest number of user. This kind of Media can create buzz in the market and create awareness for the brand.
Evaluation and Feedback of LaunchAfter getting all information from BEOL and survey feedback from customers we can outline the feedback and evaluate the campaign. We get feedback from company about this campaign. On basis of their IMC of this launch campaign they cover 360 communication methods to present their product for their target market. But they are failed to distribute their product to all their targeted outlets of 30% -35% of total outlets of Dhaka City. In between 2 to 3 months they are able to Distribute 80% of those outlets. In some cases this kind of failure make their communication effort wasted. If Customer will not found their product at their convenient places it will cause switch for other brands. As we find larger number of our responder from different areas couldnt aware about the brand and also cant find in their convenient places. As BEOL is an old and customer based company they should maintain their marketing mix properly. In this campaign they should matches there communication with their price level and availability of the product in the market.
Recommendation
1. In their IMC tool they should not use TVC because of Cost. As their target market is Dhaka City in initial stages per viewer cost will automatically increases.
2. They should use more of their budget for media advertising but cant ensure availability simultaneously because of cost. So they should reduce cost from media advertisement and use manpower to ensure availability of their Brand.
3. User number of online shopping website or popular sites is getting higher now a days. So they can use pop up window in these sites to capture their target market and use a IMC tool.
4. Pushing their product to retailer and give them incentive based on their sales and visibility can be a good idea. Because most of the people decide to buy while they shop.
5. Merchandise at purchase point or sales point can help customer to choose this brand because of repeated knock.
6. Free sampling in Bangladesh is very new concept but frequently use by developed country. They can try free sampling for their brand to make larger number of people to taste their product and aware them by communication.7. Billboard can be a good option than TVC because of media clutter people stop seeing advertisement on TV but billboard on important area can knock better to their customer in this initial stage.
ConclusionIn Bangladesh still in 21st century companies are rely of media communication and retailers mostly in Dhaka city purchase those product which have TVC ongoing . But this trend should be changed now because communication should go with customers. People in Bangladesh are using internet at good number at least in Dhaka city. Interactive media can play a better role to create buzz about any brand. Retailer in Bangladesh are empower day by day, so complies should aware them about this new communication method for better future of FMCG business of Bangladesh. Otherwise new ideas and new innovation growth will get slow in Bangladesh because of this lack of knowledge about the changing market trend. Rice bran oil can save a lot of peoples life from heart diseases but because of lacking of awareness people are missing this opportunity to live healthy life. In term of IMC, companies should utilize more of their innovative tools for communication because there is a difference between communication and talking. If consumers are involve for their own product with the company then loyal customer base will be higher for future. So companies should use those tools which can make their consumer more involve with the brand. Ancient communication methods should be avoided by companies.
Reference1. http://www.beol-bd.com/2. http://www.thedailystar.net/introducing-fortune-rice-bran-health-208313. http://www.firstnewsmagazine.com/component/content/article/58--periscope/3286-beol-launches-rice-bran-oil-in-bangladesh#.U-k7OGPC0y44. http://www.theindependentbd.com/index.php?option=com_content&view=article&id=211584:beol-introduces-rice-bran-oil&catid=110:business-others&Itemid=156Questionnaire
Name of responder :____________________Age: ____ Location:________________
1. Do you ever heard about the brand Fortune Rice Bran Oil?a) Yes
b)No
2. In Which media you get the information about The brand?
a)TVC
b)RBC
c)Newspaper
d)Other
3. Did find this Brand at your convenient place?a)Yes
b)No
c)I dont know
4. Do you ever try this product?
a)Never
b) Once
c) twice
d)More than twice
5. What motivate you to buy this brand?
6. a)Advertisementb)Point of Purchasec)Retailer
d)word of mouth
7. Do you think this product can make you healthier?a)Yes
b)No
c) I dont know
8. Do you like the product?a)Yes
b)No
9. Do you think this brand should introduce more in the market?
a)Yes
b)NO
10. Do you think Fortune maintain good quality?
a)Yes
b)No
c) I dont know
11. Do you think price is affordable for this product?
a)Yes
b)No
