By analyzing fps we have found some information about current market situation that is given below respectively with up’s-
Product: A survey says, the total consumers’ attitude toward ARC Cola is 54. 65 & MAJOR Cola is 55. 78. (Here less signifies positive).
Its Quality = 20%, Health= 8% clone= 7% -raster People prefer Molds pricing but it has to improve its image in status and quality issues. Unfortunately, MAJOR is lagging behind due to inadequate communication of its rand elements like slogan, name’s meaning etc.
Price: Also the price of MAJOR is not good enough, and the taste of MAJOR drink does not satisfy the customers.
The price is 15% satisfactory with the market. That’s why unfortunately this product failed to fill up the requirement of customers. The five different sizes of MAJOR cola have been priced differently. 250 ml bottle = 15 TX. 500 ml bottle = 25 TX. 1 liter bottle = 40 TX. 2 liter bottle TX.
Place: It has also failed to communicate its own positioning to the target consumers. However, still now MAJOR has the chance to recover its own position because about 0% of the target customers (according to the survey result) are potential and have not constructed their belief structure for MAJOR.
Promotion: In today’s competitive environment, having the right product at the right place in the right place at the right time may still not be enough to be successful. Now it’s current Prestige =18% in the market. Effective communication with the target market is essential for the success of the product and business. Promotion is one of the fps of the marketing mix designed to inform the marketplace about who you are, how good your product is and where they can buy it. Promotion is also used to persuade the customers to try a new product, or buy more of an old product.
But in current market situation we can see that MAJOR drink does not use it promotion widely. A statistics given below will give us an idea about Molds current market situation: The promotional mix is the combination of personal selling, advertising, sales promotion and public relations that it uses in its marketing plan. Above the line promotions refers to mainstream media: Advertising through common media such as television, radio, transport, and billboards and in newspapers and magazines.
Because most of the target is most likely to be exposed to media such as television, radio and magazines, MAJOR does not use this as the main form of promotion for extensive range of products. Although advertising is usually very expensive, it is the most effective way of reminding and exposing potential customers to major drink. When attempting to implement a new Marketing plan a business must address its target market and conduct the relevant information to insure the new marketing plan both differs from the old and is better for the business.
When conducting market search a business must first define the problem and then gather the appropriate information to solve the problem. There are 3 types of information a business can gather to solve its problems-
Exploratory Research which clarifies the problem and searches for ways to address it.
Descriptive Research is used to measure and describe things like the market potential for a product and characteristics of the effect relationship. But MAJOR does not do all the types of promotion.
Opportunities and threats:
Opportunities: We have found some opportunities that MAJOR can face in the market and can make more profit as well such as:
Many event organizers wanting MAJOR to sponsorship them: For many events like- concerts, reunion, wedding ceremony, People Backlash, or in tour, picnic. Many event organizers preferring MAJOR more than any other local soft drinks. Because MAJOR is relatively low in price and its quality is much negotiable. So it is a big opportunity for MAJOR to do its best.
Increasing demand in rural area as well as urban area as a local product: Mops demand is increasing in the local market day by day. Because… Ill. MAJOR is a local product of Bangladesh so it is very easy to get concern of the people. Threats: From our viewpoint; based on the survey analysis, the following threats or negativisms were found:
MAJOR is low on status: As it is our local product naturally it cannot be as good as international product like Coca Cola or Pepsi. Or other competitor’s product may be relatively better in quality. That is why it is low on status.
It is relatively walking behind in the case of quality: May be MAJOR is not concerned enough of improving its quality. If MAJOR do not give soon enough attention in case of improving its quality may be one day it will diminish from market.
Insufficient ; unrecognized communication of the brand itself.
Increasing completion in the market: MAJOR is lacking behind because of increasing completion in the market. Because many local and multi-national companies who have their same cola drink in our local market are making huge profit from our market for many years.
