Report on the Marketing Department of Advanced
Introduction ACI Consumer Brands was initiated in 1995 with two major brands of the company – ACI Aerosol and Savlon. These are two of most prestigious products which are enjoying the leadership position in the market.
The division started to take new businesses through off shore trading as well as local manufacturing. In this process ACI Consumer Brands launched many new products and also bonded with Joint Venture business relationships with ‘Dabur India’ and ‘Tetley UK’ and attained international alliances with world renowned companies. Mission ?? To become one of the top most consumer product marketing companies in the country. ? To associate with any one of the major international Companies having excellent reputation and market acceptability, around the globe. PESTEL analysis When entering a new market, every company has to make a market analysis. One tool is the PESTLE.
PESTLE is an acronym for Political, Economic, Sociological, Technological, Legal, and Environmental. Political: The government plays a role within the operation of manufacturing these products in terms of regulations. There are potential fines set by the government on companies if they do not meet a standard of laws.
Economic: According to the IMF gradation, Bangladesh ranked as the 48th largest economy in the world in 2007. Due to low interest rates compared to other countries, it can use the borrowing on research of new products or technology.
As researching for new products would cost less ACI will sell its products for less and the people will spend as they would get cheap products from ACI. Sociological: Many people today are practicing healthier lifestyle. ACI started with ACI Aerosol and Savlon. Both the brands are concerned with making people’s lives easier and safer.
The need for insecticides, soaps, and other more convenient and healthy products are important in the average person’s day to day life. Technological: The effectiveness of company’s advertising, marketing and promotional programs.
The new technology of internet and television which use special effects for advertising through media. They make some products look attractive. As the technology is getting advanced there has been introduction of new machinery all the time. Due to introduction of this machinery the production has increased tremendously then it was few years ago.
ACI has several factories which use state of the-art technology to ensure top product quality. Legal: There are legal issues concerned with the production of insecticides.
Environmental: ACI is concerned about the effect their production will have on the environment. Using chemicals may pollute the city in terms of water and air pollution. Reducing it is a big factor. The 4 P’s The set of marketing tools that a firm uses to pursue its marketing objectives in its target markets is called the marketing program or the 4 P’s. The four marketing tools are: product, price, promotion and place.
Product A product is the material, program, or service that is provided to the people that a company wants to influence.
A product can be defined as anything that is offered to a market’s attention, use or consumption and that might satisfy a want or need. The quality of a service is much more difficult to standardize and control than that of a product because of its variability. Every business is based on a product or an offer. A company’s objective is to make their product/offer different or better in a way in order to gain market preference and thus increased sales.
In general, the marketer of a product knows that the challenge is to create a relevant product differentiation. Price The price is the most important P of the marketing program, next to the product itself.
The price is partly dictated by consumer demand and perceived value for money. The only variable in the marketing program that must be set in relation to the other three P’s is the price. The price is different from the other three P’s in the marketing program in the way that it creates incomes while the other P’s create costs.
When making pricing decisions the company should take several important issues into consideration. It needs to consider costs of production, the market’s observation of the product value and the competition that the company faces. Promotion Promotion is the activities that inform the customer about the product and that raise awareness of the product.
These activities include e. g. advertising, sales promotion, personal selling, publicity and direct mail. Any method of informing, persuading or reminding customers about the product, price and place is promotion.
This P consist of all communication tools that can present a message to the audience concerned. The most useful tool to create knowledge about a company, product, service or an idea is advertising and any paid form of non-personal arrangement and promotion of ideas, goods or services by a recognized sponsor is advertising.
Place Place can also be called distribution. One important thing is to make the product available where it is needed. There is a need to consider which outlets are most appropriate for a particular product.
The distribution of a product can involve wholesalers, retailers, transports and agents. Every supplier has to decide how they are going to make their products available to the concerned market.
The two opportunities that exist are either to sell the products on their own, or by using middlemen. It is important for companies to realize that the choice of distribution is the base for a pretty long-term undertaking that they might live with even if new types of products are manufactured and the business situation changes. Consumer buying behavior
Consumer buying decision process is the processes undertaken by consumer in regard to a potential market transaction before, during and after the purchase of a product or service. Consumer decision making process generally involves five stages: Problem Recognition If we use ACI Aerosol insecticide as an example, it begins when a person recognizes that there are lots of mosquitoes in the house. She knows that mosquitoes can spread diseases like malaria, dengue, etc and she is worried about the well-being of herself and her family. Information Search Example: (continuing from previous…)
The woman troubled by the mosquitoes will eventually try to find out how she can get rid of the mosquitoes.
She will think about the various methods that can serve her need. In this process of information collection it will yield awareness of set of brands of insecticides she can buy. Alternatives evaluation Example: (continuing from previous…) When that user got enough information concerning the different brands of insecticides available in the market, she will decide which kind of a insecticide and brand she’s going to buy depending upon her need and the effectiveness of the product. Purchase Action
Example: (continuing from previous…) After selecting brand of the insecticide and model from different alternatives of insecticides, she will make a final decision of where to buy that insecticide and make the final transaction procedures. Post-purchase Actions Example: (continuing from previous…) If she decided to buy ACI insecticide, she will try to compare the quality it provides.
If she will find that her expectations are met she will be satisfied, if she found that there are more additional features like that it also kills cockroaches, she will be delighted, otherwise she will be dissatisfied. Market segmentation