Report Topic

On
Marketing Plan of an Existing Product

Presented By:

Arman Alamgir Department: MBA

ID: 21306003

Afia Mokarrama Submission Date: 04/01/2022

ID: 21106010

Md. Moshiur Rahman

ID: 21306019

Peuly Saha
ID: 21306013
Table of Contents
1. Executive Summery ……………………………………………………………………. 1

2. The Present Market's Current State …………………………………………………….. 1

3. Overall Revenue, Component, ………………………………………………………… 2
Share, Growth Analysis
Size Of The Market …………………………………………………………..……. 2
Market For Products ………………………………………………………..……... 2
Share Of The Market …………………………………………………………….... 2
4. Competitive Market Analysis ………………………………………………………… 4
5. Meril Baby Lotion's Strengths and …………………………………………………………. 6
Weaknesses
Possibilities ……………………………………………………………………………... 6
Problems ……………………………………………………………………………….. 6
6. Goals ………………………………………………………………………………………... 7
The Marketing Goal ……………………………………………………………….. 7
The Financial Goal ……………………………………………………………….. 7
The Campaign's Goal ……………………………………………………………... 7
8. Strategy for Marketing …………………………………………………………………. 8
Demographic Profile ……………………………………………………………… 8
Profile Psychographic ……………………………………………………………… 9
Strategy for Positioning …………………………………………………………… 9
Product Development …………………………………………………………… 9
Ingredients ……………………………………………………………………….. 10
Strategy for Pricing …………………………………………………………………… 10
9. Promotional Plan …………………………………………………………………………. 11
Advertisement on Television ……………………………………………………………. 11
Advertisement on the Street ……………………………………………………………. 11
Publicity in the Press ……………………………………………………………. 11
 Promotion of Trade ………………………………………………………………… 12
Promotion of Consumer Goods ………………………………………...........…………… 12
Distribution Methodology ………………………………………………………………… 12

10 Conclusion …………………………………………………………………………………… 13
.
11 Reference ……………………………………………………………………………………. 14
.
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Executive Summary

Square Toiletries Limited (STL) is Bangladesh's top producer of hygiene and cosmetics, with
over 50 high-quality foreign items. STL began its difficult journey in 1988 with trademarked
coconut oil under the trademark "Jui" and their one of the famous product is baby lotion which is
called "Meril Baby Lotion." In 13 of the 14 product categories, STL is the global leader. We'd
want to offer this product with the goal of eventually taking the top spot in the lotion market.
With this in mind, this product is manufactured in Bangladesh, while raw materials is sourced
from several European nations to assure consumer pleasure. Pond’s Baby Lotion, Aromatic Baby
Lotion, Johnson & Johnson Baby Lotion, and Vaseline Baby Lotion are the main rivals of Meril
Baby Lotion since they invest extensively in digital and print marketing, branding, and variation.
The brand image will be based on a reasonable pricing and the availability of products in all
convenience shops, as well as intense promotional measures to develop the market, which will
make future product marketing much easier. The goal of this marketing strategy is to create a
good action plan with guidelines. During the previous several years, competitive businesses were
quite aggressive and spent a significant amount of money on advertising. Furthermore, Johnson
& Johnson, as a well-known brand, entered the Bangladesh market with a large-scale campaign
and reaped the benefits of economic effects, which helped them achieve success.

The Present Market's Current State

The market is expected to be worth Tk. 3200 million. Unbranded/loose sector accounts for about
a quarter of the market (Tk. 800 million). Unilever, Aromatic, Keya, Tibet, Johnson & Johnson,
and Vaseline are also major rivals. In both urban and rural settings, category penetration is nearly
ubiquitous. Due to significant promotional spending, the Unilever, Johnson & Johnson, and
Aromatic brands have a strong image and appeal. Between these two names, Johnson & Jonshon
and Unilever have dominated the market for a long time. Recently, the brand called "Tibbet
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Baby Lotion" launched a powerful marketing campaign, successfully shaking the already
established branded industry.

Overall Revenue, Component, Share, Growth Analysis:

Size of the Market

The market is estimated to be worth Tk 3200 million. The lotion market is expanding at a pace of
15% each year. This product's target market is urban, semi-urban, and rural. It's a pretty slow-
moving item.

Market for Products

Meril 100ml and 50ml will be marketed to the urban and semi-urban markets, as well as a
fraction of the rural market.

Meril 200ml Urban and semi-urban markets, as well as certain rural markets.

Share of the Market

The following is a comparison of the key rivals' market share (source: Container Supplier &
estimated):

Market Share of Competitors in 2020

1. Johnson & Johnson is a pharmaceutical company based in the United States 18 percent

2. 15 percent aromatic
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3. Tibbet 12 percent

4. 15 percent Unilever

5. Vaseline 12 percent

6. Others 15 percent

The following are the main benefits of Meril Baby Lotion:

- Enrich, hydrate and soften the skin.

- Much thinner and lighter, with a pleasant aroma.

- High-quality raw materials are used.

- Chemicals that have been strengthened are not present.

- It is free of artificial colors and fragrances.

- Simple to open.

Meril Baby Lotion is forecasting a 25% market share. Because the market is growing, sales are
likely to rise in the next years. People in the middle and lower middle classes, aged 4 to 35, who
are concerned about their skin are the key purchasers. Aside from branded lotion, there is a lot of
non-branded lotion on the market. Customers also desire to acquire 100 percent genuine lotion
from a reputable brand. They seek assistance from a variety of sources, including the media,
families, friends, and other individuals, in order to make an informed decision on which goods to
purchase.
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In 2020, the market for branded lotion was worth $3700 million.

Annual growth rate of the market: 17%

Meril’s estimated return on investment: Tk. 68 MILLION

Meril’s anticipated market share is 25%.

Market size expected: Tk. 3200 million

Competitive Market Analysis

The current lotion market is dominated by mineral oil and glycol stearate, and it is very
competitive. This market has a small number of local and international businesses. Aside from
those businesses, a slew of new ones are set to enter the market. Only a few of these businesses
control the lion's share of the market.

Major firms are also attempting to diversify their product offerings in this market by releasing
new products.

1. Lotion in a plastic jar that is normal

2. A scented lotion that also protects the skin.

3. Various forms of oil-based lotion supplements.

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Meril Baby Lotion's Strengths and Weaknesses:

The Product's Strength

• Nourish, moisturize, and soften the skin.

• Much thinner and lighter, with a pleasant odor

• Brand image and brand loyalty

• Easy to open

• Reputation of the company.

• Reasonable prices.

• Mineral oil, glycol stearate, and carbomer are used to make it.

The Product's Weakness

• This item is a latecomer to the market.

• A lack of product knowledge.

• Failure to satisfy deadlines.

• There is a scarcity of raw materials.

• Limited promotional funds.

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Meril BABY LOTION Possibilities and problems

Possibilities

• The ability to make the purchasing process more convenient or efficient.

• To obtain further information and suggestions from consumers.

• Huge market potential.

• Create customized skin care products to fit the demands of clients.

• Loose/unbranded Body Lotion accounts for 25% of the market.

• Expanding the product line by introducing smaller size and lesser cost lotions to appeal to the
demands of a wider variety of clients.

• Possibility of expanding market reach and retail penetration.

Problems

Since we have certain possibilities, we must also examine some dangers that may have an impact
on our strategy and operations, such as the following:

• New companies are expected to enter the market.

• Competitions have done extensive advertising and campaigning, particularly Johnson &
Johnson, which has a lot of overflow from satellite channels.

• The competitors' brand image is well-built.

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• Introduced a variety of lotions, including Vaseline and others, in order to gain market share.

Goals

The Marketing Goal

Our goals are organized into three categories, as shown below:

• We will not make any money in the first year.

• To boost sales volume by 55 percent in the following five years.

• To develop Meril infant lotion as a market leader with a 15% market share.

The Financial Goal

• In the first year, there will be no Net Sales Income.(NSI)

• In the second year, to attain a Gross Margin of Tk. 8.12 million (20.92 percent of NSI).

• In the third year, to achieve an EBIT of Tk. 2.5 million (3.95% of NSI).

The Campaign's Goal

• To establish a high-quality, favorable, and long-lasting brand image.

• To build a brand personality that is clever, friendly, trustworthy, and reliable.

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• To raise customer awareness to a large extent.

• To obtain the highest level of customer demand.

• Our marketing will additionally emphasize the product's high quality and delightful scent.

The following are the campaign's main points.

• MERIL BABY LOTION is a high-quality baby lotion.

• The goal is to persuade customers to try our new, better-scented lotion.

Strategy for Marketing

Meril's marketing efforts are largely focused on expanding market share and establishing a more
dynamic brand. We considered a distinctive product strategy as well as a comprehensive
promotional plan while putting the approach into action. Packaging, positioning, pricing, and
distribution strategies will all help us carry out our plan.

Meril Baby Lotion is marketed to both men and women. They will make the decision to purchase
it. Bangladeshis are particularly concerned about their children's skin. As a result, customers look
for the greatest product created by a reputable brand.

Demographic Profile

Bangladesh-Urban and Semi-Urban Market

Age: 2 and up
The number of babies is estimated to be over 35 million.
Genders: Male and female are the two genders.
Life Cycle: The married couple's life cycle
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Income: Tk 8000-20000 per month

Occupation: Housewife, service, and other occupations
Education: Primary and secondary education

Profile Psychographic

Social classes: Middle and lower middle

Life Style: Skin-consciousness is a way of life for me.
In search of a better lotion, she visits stores and is exposed to the newspaper, radio, and
television.

Profile of Personality

Regular Occasion
Maintains skin's softness and attractiveness.
Status of the user: Rate of Potential User: Slow
Stage of readiness: aware and informed

Habit should be purchased once or twice every six months.

Customers acquire it based on their needs.

Strategy for Positioning

Make that moment more poignant by stroking your infant.

Product Development

Our product strategy covers both product and packaging development.

• Quality of the product: high-quality meat

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Feature: various weights

• Branding - The logo will be placed on

Protect skin is a product attribute.

Safety and security – Belief and value

• 100 mL , 200 mL and 50 mL bottle packaging

Ingredients

Light Liquid Paraffin, Dimethicone, Allantoin, GMS, Phospholipid, Glycerine, Hydroxyethyl

Cellulose, DMDMH, Perfume, Parabens, Aqua.

Strategy for Pricing

Meril Baby Lotion's competitive pricing scenario reveals that practically all of the competitors'
prices are nearly identical.
Meril Baby Lotion and Aromatic Baby Lotion are both on sale.
In this case, however, we choose to follow standard market practice.

Type of Product Price

TK 60 Meril Baby Lotion 50 ml

Tk.100 Meril Baby Lotion 100 ml

Tk.190 Meril Baby Lotion 200 ml

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Promotional Plan

Our advertising and promotions will be based on five core strategies: television commercials,
radio commercials, out-of-home advertisements, press advertisements, and customer offers.

Advertisement on Television

Television is the most effective medium for establishing brand trust. All of the best Baby Lotion
manufacturers are currently focused on electronic media campaigns such as BTV. The most
popular television channels in Bangladesh are GTV, NTV, ATN, and CHANNEL-I. So, based on
the budget and promotional spending available for the quarter, we will construct our media
planning and chose television advertising as the primary choice. Meril’s media strategy will also
involve the selection of the appropriate program, at the appropriate time, for the appropriate
audience.

Advertisement on the radio

A big portion of our target market is rural, where radio coverage and listeners are plentiful. Some
of the special sponsored programs will be prepared with a focus on the tales of the people who
have been affected by the disaster.

Advertisement on the Street

We intend to have an outdoor advertisement that is entertaining, educational, and well-managed.

There will be murals on the walls all around the nation.

Publicity in the Press

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We will spend a significant amount of money (based on promotional spending) on press

advertising to promote our special promotion, such as a consumer deal, and to improve our brand
image. The more frequently our targeted potential customers read daily newspapers, the more
likely they are to be inspired by our brand when they are in need of a free offer like ours.

Promotion of Trade

Trade promotion is a common occurrence in rival activity. So, in order to assure the breadth and
depth of our product supply, as well as to take up more space in retail outlets around the country,
we need engage in some trade promotion.

Promotion of Consumer Goods

It is critical to boost immediate volume and create consumer loyalty to the product. The
following are the current consumer promotions: 200ml+free 2 color pencil and 100ml+1 color
pencil. Following that, we have some specific consumer promotion plans such as an extra 10%
discount, 10 Tk. off with 200 ml, and 5 Tk. off with 100 ml, and so on.

Distribution Methodology

Meril Baby Lotion's target and potential customers come from all around the country. So, in
order to reach every consumer, even those in remote areas, we will engage in the following
activities:

• Make the product as widely available as feasible.

• Make sure the product is delivered on time.

• Increase the depth of each outlet's stock.

• On-time product delivery to all depots and distributors' locations.

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• Proper merchandising. This entails ensuring that our product is displayed properly on the shelf
of a retail establishment.

Conclusion

We have discussed the full description of the marketing plan of our product. Actually preparing
marketing plan for a product helps to promote organization recognition and enhance product
selling. We have tried our best to prepare our report. We think this report will definitely help to
achieve business ideas for the new comers. The report will help to get idea for the development
of social, economic and nation. Every person and organization has some responsibilities to the
nation and the country. Having these responsibilities we thought of such kind of research which
would be useful for the targeted consumers and profitable for the company. That’s why from
many ideas we have selected the idea of this product by developing financial situation of our
country. So, we can say that the product “Meril Baby Lotion” is a product by which the company
can earn a huge profit and fulfill our national responsibility.
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References

1. Meril Baby Lotion. SQUARE. (2021, May 16). Retrieved December 18, 2021, from

https://squaretoiletries.com/product_info/meril-baby-lotion/

2. Drummond, G., Ensor, J., & Ashford, R. (2014). Strategic marketing: Planning and

control. Routledge.

3. Ferrell, O. C., & Hartline, M. D. (2008). Marketing strategy. Thomson South-Western.

4. Md. Ashequl Morsalin Ibne Kamal(Team Leader)| Niloy Saha(Sr. Web Developer)|
Shohana Afroz(Web Developer)| Jobayer Hossain(Web Developer). (n.d.). Cosmetics
and toiletries brands, and companies in Bangladesh: An overview. unb.com.bd.
Retrieved December 18, 2021, from
https://www.unb.com.bd/category/Business/cosmetics-and-toiletries-brands-and-
companies-in-bangladesh-an-overview/81439