Taprobane Products ( Pvt ) Ltd.
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Taprobane Products (Pvt) Ltd.
Taprobane Products (Pvt) Ltd.
Product Development Process &
Marketing Plan
Overview of The Company
• Taprobane Products (Pvt) Ltd. is a small scale company
• The company was established in 2012
• It makes “Spicy Paste” tubes which contain a mix of spices as a paste
• 10% Market Share in the Spicy Market
• HACCP, ISO 22000, ISO 14001 Certified company
• The business was started with a investment worth of LKR 2,5000,000/-
• Located at 101, Station Road, Godagama, Sri Lanka
Vision Statement
Redefine the taste through innovations
Missions Statements
Be the market leader in local spice market by 2015
Be a exporter by 2018
Adding value to our customers by every action we take
The Product Description • 100% Natural Product
• A mix of spices as a paste included in plastic tubes (250g)
• Useful for preparing day to day domestic curries
• Ready and easy to use
• Consume less space in the kitechen compared to bottles containing spices
• Two types as “ Kirata” and “ Mirisata”
• No artificial flavors are added
• Natural Food preservatives are added
• SLS Certified Product
Cntd…
“ Kirata “ “ Mirisata “ (Fish and Meat)
Chili Powder Chili Powder, Salt
Salt, Lime Goraka, Ginger
Curry Leaves Curry Leaves
Coriander Coriander, Cloves
Turmeric, Garlic Turmeric, Garlic
Fenugreek Fenugreek, Cardamom
Cinnamon Cinnamon, Ramp
Cumin Seeds Cumin Seeds, Sera
Pure Water Pure Water
Ingredients
Marketing Audit A marketing research was conducted through internet with 40 people in
Colombo district
31 people were favorable whereas 9 people were unfavorable
23 people suggested to introduce different types
Favourable 78%
Unfavourable 22%
Marketing Research Data
SWOT Analysis
• This is the one and only spicy product which will available in tubes in the Sri
Lankan market for instant use
• Easy to use and less time consumption
• Minimum space utilization in the kitchen
• Accreditation in food industry
• No artificial preservatives
• 100% local ingredients
• It enhance the taste without harming to the human body
• Quality can be ensured and raw materials are readily available as the firm
have their own spicy gardens
Strengths
SWOT Analysis Cntd.…
• Unawareness in the Sri Lankan market
• Short product life time due to natural preservatives
• Unavailability of large size tube due to handling difficulties
• Material of the container is not biodegradable and difficult to recycle
Weaknesses
SWOT Analysis Cntd.…
• New product in the to market
• Packaging method is different and modern
• Available in two categories
• Non availability of competitors in the existing market
• Can be marketed in offshores
Opportunities
SWOT Analysis
• Cheap similar products can emerged after launch of the product
• Direct primary raw cheap substitutes are available in the market
• Consumer buying power will be a prominent factor
• Difficult to maintain quality raw material
• Inadequate supply of spices due to higher international market rates
• The quality raw materials are expensive
• People are reluctant to change from the traditional system
Threats
Objectives
• Financial objectives – To earn minimum of LKR.500,000/- of net profit per month during first
six months
– To capture 25% of the market share in the local spicy market within 5
years
• Marketing Objectives – Inform target audience about features and benefits of the new products
– To build 1,000 new customers every month
– To boost sales by 10% every month
Marketing Strategy
The target group
The target market of the product is busy house wives.
Marketing Mix
Product
• Available in adequate size
• Ready to use
• Attractive Packaging
• Available in two types ( Kirata/Mirisata)
Marketing Strategy Cntd… Price
Prices are decided according to Cost based method
Price of a 250g “Kirata” tube is Rs 195/-
Price of a 250g “Mirisata” tube is RS 155/-
Set prices based on market skimming pricing strategy
Place
Selective distribution strategy
Direct marketing
Personal selling
Promotion
The products will be marketed through television advertisements,
web sites, Bill boards, Brochures, Magazines, and sales promotions
Cost Analysis Variable Cost per tube Kirata Mirisata Materials 113 81 Labor cost 15 15 Packaging 10 10 Total Variable cost 138 106
Fixed Cost Building and Plant 1 1 Machineries Equipment 1 1 Advertisements 9 9 Sales and Distribution 5 5
Overheads 2 2
Total Fixed O/H cost 18 18 Unit Cost 156 124 Selling Price
Action Plan Activity
Start
DateDuration
Jan-1
2
Feb-1
2
Mar-1
2
Apr-12
May-
12
Jun-1
2
Jul-1
2
Aug-12
Sep-1
2
Oct-1
2
Nov-12
Dec-12
Jan-1
3
Feb-1
3
Mar-1
3
Apr-13
May-
13
1 Idea Generation Jan-12 02 Months
2 Alternative Analysis Mar-12 02 Months
3 Idea Screening May-12 01 Month
4Concept
Developmemt & Jun-12 03 Months
5Marketing Strategy
DevelopmemtSep-12 01 Month
6 Business Analysis Oct-12 02 Months
7Product
DevelopmentDec-12 03 Months
8 Test Marketing Mar-13 02 Months
9 Commercialization May-13
• R. M. D. S. Gamanayaka 5266FM2012018
• H. M. J. C. B. Heenkenda 5266FM2012021
• W. H. M. C. M. B. Herath 5266FM2012022
• D. S. D. Kasun 5266FM2012033
• V.T.B.Rodrigo 5266FM2012074
Our Team
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