Navana Electronics Limited has been manufacturing and marketing quality electronic & electrical products as per customer requirement with competitive prices also with loyalty. Navana Electronics Limited is one of them.
Electricity is the major key factor of every nation’s development for the modern world. Electricity is not only for Industrial & Domestic use but also in Agricultural sector.
Recently we achieve tremendous growth in Agricultural sector with using modern technology where electricity is the vital part. The vision of Government is to reach with electricity in every house within 2020. Although the total installed capacity was 4680MW including 1260MW in the private sector (IPP). The maximum available generation was only 3592MW. The reasons for lower availability were, some plants were out of operation for maintenance, rehabilitation & overhaul and capacity of some plants were derated due to aging and Gas shortage.
Navana is a group of company in Bangladesh. Navana has eighteen sisters concerns i.e.
- Navana Electronics Limited.
- Aftab Automobiles Limited.
- Aftab Automobiles (Paints units)
- Aftab Automobiles Limited (Battery units).
- Aftab Automobiles Limited (Furniture unit).
- Biponon Limited.
- Navana construction Limited.
- Navana Computers & Technologies Limited.
- Navana CNG.
- Navana Distribution Limited.
- Navana Interlinks Limited.
- Good year Tyre.
- Navana Limited.
- Navana Real Estate Limited.
- Navana Taxi cab Co. Limited.
- Navana Textiles Limited.
- Navana Toyota 3-S Center.
The product lines are:
- Automatic Voltage Regulator (AVR),
- Industrial Voltage Stabilizer (IVS),
- Uninterruptible Power Supply (UPS),
- Instant Power Supply (IPS),
- Water Level Controller (WLC), and
- Sub-Station Equipments.
. The more productive consumers are as follows:
- Power Development Board (PDB).
- Dhaka Electric Supply Authority (DESA).
- Dhaka Electric Supply Company Ltd. (DESCO).
- Rural Electrification Board (REB).
- Various kinds of Industries.
- CNG Re-fueling Station.
- House Builder Developers.
The total markets are shared by the following companies:
- Navana Electronics Ltd.
- Batelco Limited.
- Saif Powertec Limited.
- Micro Electronics Limited.
- Energypac Limited.
- GEMCO Limited.
- Manpower Limited.
- Intrigral Limited.
- Shakti Engineering Limited.
- Electroventure Limited.
- Mammpower Limited.
- Adex Limited.
- GEC Limited.
- And some others manufacture.
The objectives of the study areas follow:
- To find out the basic reasons for not successful marketing in this sub-station sector in the local market.
- To create a brand image of our products.
- To describe the segmentation/categorization of customers
- To describe the trustworthy/loyalty procedure the company.
- We will achieve quality excellence by preventive technique instead of corrective technique.
- We will respond quality and effectively to customers requirements to the best of our ability.
- We are always customer friendly.
- We are always quality and cost conscious.
- We strive hard to gain total customer satisfaction.
- To follow simple clear and effective management policies supported by essential documents.
Methodology of the study:
There are five steps in every marketing research process.
- Problem Identification & Research Objectives
- Research Design
- Collection of the Information
- Analysis of Information
- Report Presentation & Implementation
Problem Identification & Research Objectives:
The research designs are as follow:
- The data collection methods.
- The specific research instruments &
- The sampling plan
The data collection method: there is one data collection processes i.e.
- The secondary data.
The secondary data: A great deal of data is regularly collected and disseminated by international bodies, international Labor organization, World Bank, International Monetary Fund, Government and its many agencies including Planning Commission, Central Statistical Organization, Census Commission, Private research organization, and trade association, this kinds of data which has already been collected by another organization and not by us is known as secondary data.
Research Instrument: In this observation method, the researcher may used a camera, tape recorder or tally sheet (a sheet in which the number of times an event occurs is recorded). Whatever the instrument used, the researcher must ensure that the instrument is appropriate to the occasion and is reliable.
The sampling plan:
. There are four aspects to the sampling plan:
- Who is to be surveyed (Sampling units)
- How many are to be surveyed (Sample size)
- How are they to be selected (Sampling procedure )
- How are they to be reached (Sampling media )
Collection of the Information:
Analysis of Information:
There are three processes for analyzing the data.
a) Classification the raw data in more orderly manner;
b) Summarizing the data;
c) Applying analytical methods to manipulate the data to highlight their interrelationship and quantitative significance.
a) Classification the raw data: The most commonly used classification in marketing research is quantitative, qualitative, chronological and geographical.
b) Summarizing the data:
There are several steps in this summarizing data process.
- Frequency distribution.
- Variance and standard deviation.
C) Selecting analytical methods:
There are two steps process:
- Regression analysis
- Multiple regression analysis
- Discriminate analysis
- Factor analysis
Report Presentation & Implementation
The final step is the preparation, presentation and implementation of a report giving the major findings and recommendations.
. The limitations are as follows:
- Time barrier.
- Availability problem of primary and secondary data collection.
- Every office executive are not easily disclosed the available data.
- In most cases, present data are not available.
- In some cases cost involvement is so high.
- Physical Impossibility of complete Enumeration.
- Practical Infeasibility of complete Enumeration.
- Enough Reliability of Inference based on sampling.
- Quality of data collected is very difficult.
Navana Electronics Ltd., a prospective company of NAVANA GROUP is running its business since October 1996 under the prominent leadership of Mr. Shafiul Islam Kamal the successful Chairman of the group. Formerly, Navana Electronics was part of Navana Computers & Technologies Ltd. up to year 2000. After successful completion of the first step, it emerged into a separate physical entity as Navana Electronics Ltd. from Navana Computers & Technologies Ltd.
The Profile of Navana Electronics Ltd. is as follows:
Name of the company : Navana Electronics Ltd.
Registered Office &
Factory Address : Kha-73/1, Banshtoal, Shahjadpur
Gulshan-2, Dhaka-1212, Bangladesh.
Corporate Office : Islam Chamber
125/A, Motijeel C/A,
Branch Office : 1694, S.K. Mujib, Chowmuhani,
Contact Person (with tel.) : Pijush Kanti Roy
Year of incorporate : 12th October, 2000.
Product line : Sub-Station Equipments.
Automatic Voltage Regulator (AVR),
Industrial Voltage Stabilizer (IVS),
Uninterruptible Power Supply (UPS),
Instant Power Supply (IPS),
Water Level Controller (WLC), and
High Tension Switchgear (HT)
Low Tension Switchgear (LT)
Power Factor Improvement Plant (PFIP)
Battery Charger (BC)
Emergency Lighting System
DC Power Supply
Water Reservoir & Controller
Authorized Capital : 10(ten) billion (Taka)
Top Management of Navana Electronics Ltd.
- Mr. Shafiul Islam
- Brig Gen Zahiruddin Ahmed (Retd.)
Advisor, Navana Group
- Pijush Kanti Roy
Navana Electronics Ltd.
- Engr. Sujit Kumar Mondol.
Navana Electronics Ltd.
- Engr. Abul Hasnat
Manager (Marketing & Sales)
Navana Electronics Ltd.
- Engr. Aminuzzaman
Manager (Research & Development)
Navana Electronics Ltd.
- M. Ekhlaqur Rahman
Navana Electronics Ltd.
- Mr. Dipok Kumar Roy
Navana Electronics Ltd.
Different Departments is Navana Electronics Ltd.
Navana Electronics Ltd. has the following department i.e.
- Administration Department
- Store Department
- Account and Finance Department
- Purchase Department
- Production Department
- Research and Development Department
- Sales and Marketing Department
Administration Department: This department has been doing their job not strictly. This department is very humanitarian to the company. But this is not good thing for the company. I think that this diction should have stongness procedure to maintain the whole company otherwise everything will be loose.
Store Department: This department also has been performing their activities well. They have to resister each and every material whether it is local or foreign purchase and distribute all the materials to the respective department as their requirement. They have also to prepare billing system of the sold products
Account and Finance Department: This department has to maintain and control the collection money of sold products from the clients. But a lot of money is outstanding in the market. Though this department has the responsibility to collect this standing money, they can’t able to doing this. So they need separate computer monitoring system and also should have separate telecommunication facilities so that they can do their job very effectively and efficiently.
Purchase Department: This has the big responsibility to purchase all the raw materials whether it is local or foreign as per requirement of different sections. They are doing their job but not effectively and efficiently. Because they should reduce the material purchase price at beginning point otherwise the finished product price will also increase comparing the competitor’s price
Production Department: This department has been doing their job very well. They have collected their required materials from the store that was previously ordered to purchase department.
Research and Development: This department has been working for developing new products and analysis existing product problems that come from customer feedback. This department has no sufficient quality manpower along with testing equipments.
Sales & Marketing Department: This department is to collect the customer requirements moving in the market place and deliver to the production department for final products.
Every company trying to differentiate their market offering from competitors. They dream up new service and guarantees, special rewards for loyal users, new conveniences and enjoyment. When they succeed, competitor may copy their market offering. As a result, most competitive advantage last only a short time.
How to differentiate:
As per Crego and Schifrin, they have proposed this as a three-step process:
(a) Defining the customer value model: The Company first list all the product and service factors that might influence the target consumer perception of value
(b) Building the customer value Hierarchy: The Company now assigns each factor to one of four groups: basic, expected, desired, and unanticipated.
© Deciding on the customer value package: Now the company chooses that combination of tangible and in tangible items, experience, and outcome designed to outperform competitor win the customer delight and loyalty.
A company must try to differentiate its offering.
Differentiation is the act of designing a set of meaningful differences to distinguish the company offering from competitor offering.
The number of differentiation opportunities varies with the type of industry. The Boston consulting Group has distinguished four types of industry based on the number of available competitive advantage and their size.
One in which companies can gain only a few, but rather large, competitive advantage. In the construction equipment industry a company can strive for the low cost position or the highly differentiate position and win big on either basis. Profitability is correlated with company size and market share.
One in which there are few potential competitive advantage and each is small. In the steel industry, it is hard to differentiate the product or decrease manufacturing cost.
One in which competitive face many opportunities for differentiation, but each opportunity for competitive advantage is small. A restaurant can differentiate in many ways end up not gaining a large market share. Both small and large restaurants can be profitable or unprofitable.
Here we will examine how a company can differentiate its market offering along five dimensions:
- Product differentiations
- Service differentiations
- Personnel differentiation
- Channel differentiation
- Image differentiation
- Table: Differentiations Variable
ProductServicePersonnelChannelImageFormOrdering easeCompetenceCoverageSymbolFeatureDeliveryCourtesyExpertiseMediaPerformanceInstallationCredibilityPerformanceAtmosphereConferenceCustomer TrainingReliability EventsDurabilityCustomer consultingResponsiveness ReliabilityMaintenance and RepairCommunication ReparabilityMiscellaneous Style Design
Product differentiation marketing strategy:
Product differentiation variable are explained below:
Form: Many products can be differentiated in form the size, shape, or physical structure of a product. Consider the possible forms taken by product such as aspirin. Although aspirin is essentially a commodity, it can be differentiated by dosage size shape coating action time and so on.
Features: Most products can be offered with varying features; characteristic that supplements the product basic function. Being the first to introduce valued new features is one of most effective way to compete
How can a company identify and select appropriate new features? The company can ask that would improve yours satisfaction? How much would you pay for each? How do you feel about the features others customers have suggested?
Performance quality: Most products are established at one of four performance level: low, average, high or superior. Performance quality refers to the level at which the product primary Characteristic operate. The important question here is: Does offering higher product performance product higher profitability? High quality business unit earned more because their premium quality allowed them to charge a premium price they benefited form more repeat purchasing, consumer loyalty and positive word of mouth and their cost of delivery more quality were not much higher than for business units producing low quality.
Conformance quality: Buyers expect product to have a high conformance quality, which is the degree to which all the produced units are identical and meet the promised specification. Suppose a Porsche 944 is designed to accelerate to 60 miles an hour within 10 second. If every Porsche 944 coming off the assembly line does, the model is said to have high conformance quality. The problem with low conformance quality is that the product will disappoint some buyer.
Durability: Durability a measure of the product expected operating life under natural or stressful condition is a valued attribute for certain product. Buyer will generally pay more for vehicle and kitchen appliance that have a long lasting reputation. However this rule is subject to some qualification.
Reliability: Buyer normally will pay a premium for more products, Reliability is a measure of the profitability that a product will not malfunction or fail within a specified time period Maytag, which manufacturing major home appliances, has an outstanding reputation for creating reliable appliance.
Style: Style describes the products look and feel to the buyers. Buyer is normally willing to pay a premium for product that attractive styled. Car buyer pays a premium for jaguars because of their extraordinary look. Aesthetic have played a key role in such brand as Absolutely vodka, Starbucks coffee, apple computer, Montblane pens, Godiva Chocolate, and Harley-Davidson motorcycle.
Design: The integrating force: As a competition intensifies, design offer a potent way to difficulties and position a company’s product and services. Harvard professor Robert hays summed it up the best when he said, Fifteen years ago, companies competed on price. Today, its quality. Tomorrow its design in increasingly fast paced market, price and technology are not enough. Design is the factor that will often give a company its competitive edge. Design is the totality features that affect how a product looks and functions in term of customer requirements. Design is particularly important in making marketing durable equipment, apparel, retail services and package goods.
The main service differentiations are ordering ease, delivery, installation, customer training, customer consulting, and maintenance and repair.
Ordering ease: Ordering ease refers to how easy it is for the customer to place an order with the company Baxter Healthcare has eased the ordering process by supplying hospitals with computer terminals through which they send order to the boxer.
Delivery: Delivery refers to how well the product or service is delivered to the customer. It includes speed, accuracy, and care attending the delivery process. Deluxe Cheek printers, Inc, has built an impressive reputation of shipping out its cheeks one day after receiving an order without being late once in 18 years.
Installation: Installation refers to the work done to make a product operational in its planned location. Buyer of heavy equipment expected good installation service.
Customer training: Customer training refers to training customer employees to use the vendor equipment properly and efficiently. Generally Electric not only sells and installs expensive X ray equipment in hospital but also gives extensive training to users of these equipment.
Customer consulting: Customer consulting refers to data information systems, and advising servicing that the seller offers to buyers. One of the best providers of value adding consulting services is Millikan and Company.
Maintenance and repair: Maintenance and repair describe the service program for helping customers keep purchased product in good working order.
Miscellaneous services: Companies can find other ways to differentiate customer services. They can offer an improved product warranty or maintenance contact. They can establish awards.
Better trained personal exhibit six characteristic:
Competence : They possess the required skill and knowledge.
Curtsey : They are friendly, respectful, and considerable.
Credibility : They are trustworthy.
Reliability : They perform the service consistently and accurately.
Responsiveness : They respond quickly to customer request Problem.
Communication : They make an effort to understand the customer and communicate clearly.
Companies can achieve competitive advantage through the way they design they design their distribution channel coverage expertise and performance. Caterpillar success in construction equipment industry is based partly on superior cannel development. Its dealer is found in more locations than competitor dealer and they are typically better trained and perform more reliably.
Buyers respond differently to company and brand image.
Symbols: Image can be amplified by strong symbols. The company can choose a symbol such as the lion, apple, or doughboy. A brand can be built around a famous person, as blue, yellow or red, or a specific piece of sound or music.
Media: The chosen image must be worked into ads and media that convey a story, a mood, and a claim something distinctive. It should appear in annual reports, brochures, catalog, the company stationary and business cards.
Atmosphere: The physical Space by company is another powerful image generator. Hayatt Regency hotels develop a distinctive image through its atrium lobbies. A bank that wants to covey the image of a safe bank must communicate this image through the building architecture, interior design, layout, colors, materials, and furnishing.
Events: A company can build identity through an event it sponsors. Pettier, the bottled water company, came into prominence by laying out exercise tracks and sponsor health sports events. A T & T and IBM sponsor symphony performance and art exhibit. Heniz gives money to hospitals, and kraft makes donations to MADD (Mother against Drunk Drivers).
Developing and communicating a positioning strategy:
Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the target market’s mind. The end result of positioning is the successful creation of a market focused value proposition, a cogent reason why the target market should by the product. Following table shows how three companies Perdue, volvo, and Domino’s defined their value proposition give their target customer, benefits, and prices.
Value propositions demand states and marketing task table.
(Chicken)Quality-Conscious consumer of chickenTenderness100% premiumMore tender goal chicken at a moderate premium pricesVolvo
(Station wagon)Safety conscious “upscale” familiesDurability and safety20% premiumThe safest most durable wagon in which your family can rideDomino’s
Minded pizza loverDelivery speed and good quality15% premiumA good hot pizza, delivered to your door within 30 minutes of ordering, at a moderator price
Positioning according to ries and trout:
The word positioning is popularized by two advertising executives, a company, an institution, or even a person. But positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position the product in the mind of the prospect.
How many difference to promote?
Each company must decide how many difference (e.g, benefits, and features) to promote to its target customers. Many marketers advocate promoting only one central benefit. Rosser Reeves said a company should develop a unique selling position (USP) for each brand and stick to it Number one positioning include “best quality”, “best service”, “lower price”, “best value”, “fastest”, “most customized”, “most convenient”, and “most advanced technology
As companies increase the number of claims for their brand, key risk disbelief and a loss of clear positioning. In general, a company must avoid four major positioning errors.
- Under positioning
- Over positioning
- Confused positioning
- Doubtful positioning
Which differences to promote?
A company has identified four alternatives positioning platforms:
Table: Method for Competitive-Advantage Selection.
StandingImportance of Improving
Ability to improve standing (H-M-L)Recommendation
Communicating the company’s Positioning:
Once the company has developed a clear positioning strategy, it must communicate that positioning effectively. Suppose a company chooses the “best-in-quality” strategy. Quality is communicated by choosing those physical signs and cues that people normally use to judge quality.
Product life-cycle marketing strategies:
A company’s differentiating and positioning strategy must change as the product, market, and competitors change over time. Here we will describe the concept of the product life cycle and the changes that are normally made as the product passes through each stage of the life cycle.
The Concept of the product life cycle:
To say that a product has a life cycle is to assert four things;
- Products have a limited life.
- Product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller.
- Profits rise and fall at different stages of the product life cycle.
- Products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each stage of their life cycle.
Sales & Profit
Product life-cycle curves are portrayed as bell-shaped (above figure). This curve is typically divided into four stages.
- Maturity &
(a) Introduction: A period of slow sales growth as the product is introduced in the market. Profits are nonexistent in this stages because of the heavy expenses incurred with product introduction.
(b) Growth: A period of rapid market acceptance and substantial.
© Maturity: A period of a slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits stabilize or decline because of increase competition.
(d) Decline: The period when sales show a downward drift and profits erode.
Marketing strategies: Introduction stage:
In launching a new product, marketing management can set a high or a low level for each marketing variable price, promotion, distribution, product quality). Considering only price and promotion, management can pursue one of four strategies.
- Rapid skimming: Launching the new product at a high price and a high promotion level. This strategy makes sense when a large part of potential market is unaware of the product; those who become aware of the product are eager to have it and can pay the asking price; and the firm faces potential competition and want to build brand preference.
- Slow skimming: Launching the new product at a high price and a low promotion. This strategy makes sense when the market is limited in size; most of the market is aware of the product; buyers are willing to pay a high price; and potential competition is not imminent.
- Rapid penetration: Launching the new product at a low price and spending heavily on promotion. This strategy makes sense when the marketing is large, the market is unaware of the product, buyers are price sensitive, there is strong potential competition, and the unit manufacturing cost is fall with the company’s scale of promotion and accumulated manufacturing experience.
- Slow penetration: Launching the new product at a low price and low level of promotion. This strategy makes sense when the market is large, is highly aware of the product, is price sensitive, and there is some potential competition.
Marketing strategies: Growth stages:
The growth stage is marketed by a rapid climb in scale. Early adopts like the product, and additional consumers start buying it. New competitors enter, attracted by the opportunities. They introduce new product features expand distribution.
During this stage, the firm uses several strategies to sustain rapid market growth as long as possible:
- It improves product quality and adds new product features and improved styling.
- It adds new models and flanker products (i.e. products of different sizes, flavors, and so forth that protect the main product).
- It enters new market segments.
- It increases its distribution coverage and enters new distribution channels.
- It shifts from product-awareness advertising to product-preference advertising.
- It lowers prices to attract the next layer of price sensitive buyers.
Marketing strategies: Maturity stages:
At some point, the rate of sales growth will slow, and the product will enter a stage of relative maturity. This stage normally lasts longer than the previous stages, and poses formidable challenges to marketing management. Most products are in the maturity stage of life cycle, and the most marketing managers cope with the problem of marketing the mature product.
The maturity stage is divided into three phases: growth, stable and decaying maturity. In the first phase, the sales growth rates starts to decline. There are no new distribution lines to fill. In the second phase, sales flatten on a per capita basis because of market saturation. Most potential customers have tried the product, and future sales are governed by population growth and replacement demand. In the third phase, decaying maturity, the absolute level of sales starts to decline, and customers begin switching to other products and substitutes.
Marketing strategies: Decline stage:
The sales of most product forms and brands eventually decline. The decline might be slow, as in the case of a meal; or rapid, as in the case of the edsel automobile. Sales may piunge to zero, or they may petrify at a low level.
Sales decline for a number of reasons, including technological advances, shifts in consumer tastes, and increased domestic and foreign competition.
In a study of company strategies in declining industries, Harrigan identified five decline strategies available to the firm:
- Increasing the firm’s investment (to dominate the market or strengthen its competitive position).
- Maintaining the firm’s investment level until the uncertainties about the industries are resolved.
- Decreasing the firm’s investment level selectively, by dropping unprofitable customers groups, while simultaneously strengthening the firm’s investment in lucrative niches.
- Harvesting (milking) the firm’s investments to recover cash quickly.
- Divesting the business quickly by disposing of its assets as advantageously as possible.
Summary of product life-cycle characteristics, objectives, and strategies:
|Sales||Low sales||Peak sales||Declining sales|
|Cost||High cost per|
customerAverage cost per customerLow cost per
customerLow cost per
CustomerProfitsNegativeRising profitHigh profits Declining profitsCustomersinnovatorsEarly majorityMiddle majorityLaggardsCompetitorsFewGrowing
NumberStable number beginning to declineDeclining
ObjectivesCreate product awareness and
TrialMaximize market shareMaximize profit while defending market share.Reduce expenditure & milk the brandStrategies ProductOffer a basic productOffer product extensions, service, warrantyDiversify brands and itemsPhase out weak modelsDistributionBuild selective distributionBuild intensive distributionBuild more intensive distributionGo selective: phase out unprofitable outletsAdvertisingBuild product awareness among early adopters and dealersBuild awareness and interest in the mass marketStress brand difference and benefitsReduce to level needed to retain hard-core loyalsSales promotionUse heavy sales promotion to entice trialReduce to make advantage of heavy consumer demandIncrease to encourage brand switchingReduce to minimal level
Source: Chester R. Wasson, Dynamic Competitive strategy and product life cycle; John A. Weber, planning corporate growth with invested product life cycle,: long rang planning, October 1976.
Because the focuses on what is happening to a particular product or brand rather than on what is happening to the overall market, it yields a product-oriented picture rather than a market-oriented picture. Firms need to visualize a market’s evolutionary path as it affected by new needs, competitors, technology, channels, and other developments.
In the course of a product’s or brand’s existence’ its positioning must change to keep pace with market developments.
Stages in market evolution:
Like products, markets evolve through four stages:
Before a market materializes, it exits as a latent market. Some want a four-function calculator (adding, subtracting, multiplying, and diving) and others want more functions (calculating percentages, square roots, and logs). The entrepreneur’s problem is to design an optimal product for this market. He has three options.
The firm has three options:
- It can position its brand in one of the corners (single-niche strategy)
- It can position its brand next to the first competitors (a mass-market strategy)
- It can launch two or more products is different unoccupied corners (a multiple-niche strategy).
Eventually, the competitors cover and serve all major market segments and the market enters the maturity stage. In fact, they go further and invade each other’s segments, reducing everyone’s profits in the process. As market growth slows down, the market splits into finer segments and high market fragmentation occurs.
Eventually, demand for the present products will begin to decrease, and the market will enter the decline stage. Either society’s total need level declines or a new technology replaces the old. Thus an entrepreneur might invent a mouth rinse liquid that is superior to toothpaste. In this case, the technology will eventually disappear and a new life cycle will emerge.
Understanding Marketing Management
Marketing in the twenty-first century:
In fact, marketing people are involved in marketing 10 types of entities:
Marketing concepts and tools:
Marketing boasts a rich array of concepts and tools. We will start by defining Marketing, and then describe its concepts and tools.
Marketing: Marketing is a social process by individuals and groups obtain what they need and want through creating, offering, and exchanging products and services of value with others. For a managerial definition, marketing has often been described as “the art of the selling products”. But people are surprised when they hear that the most important part of marketing is not selling! Selling is only the tip of the marketing iceberg.
Marketing management: Marketing management is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchange that satisfy individual and organizational goals.
Core marketing concepts:
Marketing can be further understood by defining several of its core concepts.
- Target markets and segmentation: A marketer can rarely satisfy everyone in a market. Not everyone likes the same soft drink, hotel room, restaurant, automobile, college, and movie. Therefore, marketers start with market segmentation. They identify and profile distinct groups of buyers who might prefer or require varying products and marketing mixes. Market segments can be identified by examining demographic, psychographics, and behavioral differences among buyers. The firm then decides which segments present the greatest opportunity-those needs the firm can meet in a superior fashion.
For each chosen target market, the firm develops a market offering. The offering is positioned is the minds of target buyers as delivering some central benefit.
A Simple marketing system
- Markets and prospects: A marketer is someone seeking a response (attention, a purchase, a vote, a donation) from another party, called the prospects. If two parties are seeking to sell something to each other, we call them both marketers.
- Needs, wants, and demands: The marketer must try to understand the target market’s needs, wants, and demands. Needs describe basic human requirements. People need food, air, water, clothing, and shelter to service. People also have strong needs for recreation, education, and entertainment. These needs become wants when they are directed to specify object that might satisfy the needs. An American needs food but wants a hamburger.
- Product or offering: People satisfy their needs and wants with products. A product is any offering that can satisfy a need or want. We mentioned earlier the major types of basic offering; goods, services, experience, events, persons, places, properties, organizations, information, and ideas.
- Marketing channels: To reach a target market, the marketer uses three kinds of marketing channels. The marketer uses communication channels to deliver and receive message from target buyers. They include newspapers, magazines, radio, television, mail, telephone, billboards, posters, fliers, CDs, audiotapes, and Internet. Beyond these, communications are conveyed by facial expressions and clothing, the look of retail stores, and many others media. Marketers are increasingly adding dialogue channels to counterbalance the more normal monologue channels.
- Supply chain: Whereas marketing channels connect the marketer to the target buyers, the supply chain describes a longer channel stretching from raw materials to components to final products that are carried to final buyers. The supply chain for women’s purses starts with hides, tanning operations, cutting operations, manufacturing, and the marketing channels bringing products to customers. The supply chain represents a value delivery system.
- Competition: Competition includes the entire actual and potential rival offering sand substitutes that a buyer might consider.
We can broaden the picture further by distinguishing four levels of competition, based on degree of product substitutability:
- Brand competition
- Industry competition
- Form competition
- Generic competition
Competition represent only one force in the environment is which the marketer operates. The marketing environment consists of the task environment and the broad environment.
McCarthy classified these tools into four broad groups that the he called the four Ps of marketing:
- Product variety
- Brand name
- List price
- Payment period
- Credit terms
- Sales promotion
- Sales force
- Public relations
- Direct marketing
Marketing-Mix decisions must be made for influencing the trade channels as well as the final consumers. The company prepare an offering mix of products, services, and prices, and utilizing a promotion mix of sales promotion, advertising, sales force, public relations, directs mail, telemarketing, and Internet to reach the trade channels and the target customers.
Note that the four Ps represent the sellers’ view of the marketing tools available for influencing buyers. From a buyer’s point of view, each marketing tool is designed to deliver a customer benefit. Robert Lauterborn suggested that the sellers’ four Ps correspond to the customers’ four Cs.
Four Ps Four Cs
Product Customer solution
Price Customer cost
Winning companies will be those who can meet customer needs economically and conveniently and with effective communication.
Company orientations toward the market place:
However, there are five competing concepts under which organizations conduct marketing activities:
- The production concept
- The product concept
- Selling concept
- Marketing concept
- Social marketing concept
The production concept:
The production Concept is one of the oldest concepts in business. The production concept holds that consumers will prefer that are widely available and inexpensive.
The product concept:
Other businesses are guided by the Product concept. The Product concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.
The selling concept:
The Selling concept is another common business orientation. The selling concept holds that consumers and businesses, if left alone, will ordinary not buy enough of the organization’s products. The organization must, therefore, undertake an aggressive selling and promotion effort.
The marketing concept:
The marketing concept is a business philosophy that challenges the three business orientations we just discussed. The marketing concept holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its chosen target markets.
The marketing concept has been expressed in many colorful ways:
“Meeting needs profitability”.
“Finds wants and fill them”.
“Love the customer, not the product”.
“Have it your way”. (Burger King)
“You are the boss”. (British Airways)
“Partners for profit”. (Milliken & Company)
The marketing concept rests on four pillars:
- Target Market
- Customer Needs
- Integrated Marketing
The selling concept takes an inside-out perspective. It starts with
- Selling and Promoting
- Profits through sales volume
Starting point Focus Means Ends
The selling concept
Determinants of customer
The social marketing concept:
The social marketing concepts holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s and the society’s well-being. The social marketing concept calls upon marketers to build social and ethical considerations into their marketing practices.
Present electricity scenario of Bangladesh
During FY2005-06 450MW AES Meghnaghat combined Cycle new power plant was commissioned in the private sector. As a result, the installed capacity increased to 4680 MW in FY2005-06 compared to the previous year’s 4230MW. The maximum generation increased to 3428 MW compared to previous year’s 3218 MW.
Although the installed capacity and maximum generation increased compared to the previous year there was shortage of available generation capacity compared to the increasing demand. Consequently Bangladesh Power Development (BPDB) had to resort to load shedding, which varied from 0.13% to 11.86% of forecast maximum demand. In FY2005-06 load shedding was imposed on 210 days for the total duration of 767 hours. In the previous year load shedding days and hours were 267 and 930 respectively. During the year the total duration of Grid failure was for 133 hrs. And 27 minutes, which was 49.11%, lower than the previous year. The maximum demand served in the year under review was 3428MW against a forecast demand of 3947 MW. The net energy generation during the financial year including IPP net generation was about 18422 GWh, which depicts an increase of 5.6% over FY 2004-05.
In the east zone, electricity generation continued mainly through indigenous gas power plants and a small percentage through hydro power plant. In the west zone, imported liquid fuel and natural gas were for generation of electricity. Low cost electricity generated in the east zone was also transferred to the west zone through the 230 KV East-West Interconnector (EWI). The energy transferred in FY2005-06 was 2170.40 GWh, which is a decrease of 3.5% over the previous year. The demand of west zone was supplied by BPDB’s own generation in west zone (1509 GWh), purchase from IPPs (963.15 G W h) at Khulan and Baghabari and energy import plants and in the east and west zone under BPDB was TK.787/KWh repetitively. The fuel cost per unit generation in the East and West zone for thermal generation increased compared to the previous year due to increase in gas and liquid fuel price.
Hydro net generation during FY2005-06 was 833.33 GHh, which was 23.13% higher than that in the previous year. The higher hydro generation was due to sufficient rainfall in the catchment, are BPDB’s system loss for the FY 2005-06 was 11.35% of net energy generation, which was 12.62% in the previous year. The system loss was reduced to 1.27 percentage points during this financial year due to extensive drive and proper monitoring.
The operating profit (before interest) was 4757.11 million taka. The average cost per KWH sold was TK 2.47 (Excluding the loss due to changes in foreign exchange rate) compared to average tariff of taka 2.45 per kwh during the year. The rate of return on revalued fixed assets was 5.13% during the year under review compared to 78% in FY 2004-05.
The forecast maximum demand for FY 2011 was 4259 MW as per PSMP—95 . But the actual demand could not be supplied due to shortage in available generation capacity. The maximum demand supplied during year was 3592 MW which was 4.79 % higher than that in the previous year.
Although the total installed capacity was 4680 MW including 1260 MW in the private sector. The maximum available generation was only 3592MW. The reasons for lowest availability were
- Some plants were out of operation for maintenance , Rehabilitation and overhaul
- Capacity of some plants were rerated due to aging and
- Gas shortage
The installed capacity mix including IPP is shown below:
|By Types of Plants||MW||%||By types of fuel||MW||%|
|Steam Turbine||2228||47.61||Furnace Oil||289.75||6.19|
The peak generation during FY 2007 was about 3592 MW, which was 4.79% higher than previous year peak generation of 3428 MW. During this year 12583.96 GWh of net energy was generated in the public sector power plants.
The net energy generated by the public and private sector power plants by type of fuel were as follows
Hydro : 800.38 GWh (3.99)
Natural Gas : 17834.55 GWh (88.9)
Furnace Oil : 1159.82GWh (5.7%)
Diesel : 267.38 GWh (1.33%)
The overall efficiency of the generator in the public sector FY 2011 was 30.62% compared to 30.88% in the previous year. The following table shows the generation Plants which were under maintenance in FY 2011.
Electricity supply cost FY2011:
Supply Cost : Tk .2.54/kwh
Average Billing Rate : Tk 2.40/kwh
With the new addition of 108 route km (216 circuit km) the total length of 230 kv transmission line as of June 2003 was 682.5 route km (1365 circuit km). As of the fiscal year 2009-10 total length of 132 kv transmission line was 2635 route km and 4611 km as circuit km. By this time comilla North to Chandpur 132 kv single circuit line is under process of conversation into double circuit line and Kawhali to Bhandaria 132 kv transmission line was shifted from pole to power along with the up gradation of the capacity
In FY 2009-10 with the new addition of one 230kv grid substation the total capacity of 230 kv grid sub station increased to 3700 MWA. In FY 2009-10 a total of 625.30 MVA capacities of new transformers were added to the systems as replacement (123.25MVA) and new addition 950205MVA.
Number of consumer:
The total number of consumer at end of the FY 2011 was 1794958 compared to 1690451 at the end of FY 2010. This was about 6.18% increase over 2010.
Planning and development:
The power systems master plan was prepared in 1995. Acres International Canada as consultant under the Technical Assistance from Asian Development Bank (ADB).
The additional sequences are being reviewed incorporating latest development .The addition sequence is being reviewed incorporating latest change in power developments. Power development board as got short term mid term and long term plan for power developments. The project under short term plan for power development. The projects under short term are at various stages of implementation.
Development activity in FY 2011:
A total of 35 projects were included in the Revised annual development programme of FY 2004.
These are as follows:
1. Generation projects -15 nos.
2. Transmission projects -03 nos.
3. Distribution projects -12 nos
4. Project for technical assistance -05 nos
Out of these project the following projects were completed in FY 2011
- Procurement of materials of rehabilitation and replacement of transmission
- Feasibility study for Peaking power plant in the Dhaka area
- Rehabilitation, Renovation, Augmentation of Grid System
- Technical Assistant for payment of compensation to eligible BPDB staff who opted to join PGCB
Finding & Analysis
Scanning the marketing environment:
Within the rapidly changing global picture, the firm must monitor six major forces:
- Demographic Environment
- Economic Environment
- Natural Environment
- Technical Environment
- Political-legal Environment
The first macro environmental force that marketers monitor is population because people make up markets. Marketers are keenly interested in the size and growth rate of population in different cities, regions, and nations; age distribution and ethic mix; educational levels; household patterns; and regional characteristic and movement.
The demographic environment on the business point of view is very good in Bangladesh,
Because Bangladesh is a least developing country in the world. So many developments may be possible here. The population growth rate is so high in our country so size of market also is increasing day by day. The Bangladesh power development board annual report 2010-2011 shows the growth of consumer also installed capacity, demand forecast, and demand served that are graphically shown below. The upward sloping line indicates the high growth rate of consumer.
Consumer Growth Trend
Consumption pattern of BPDB:
Total Consumption: 18024 MkWh
Electrification of thanas, villages and pumps:
The electrification progress in Upazila/Thana is expanding in every year. The following data and various curve analysis are explained in detailed.
Deep, Shallow & Low Lift Pumps (Nos)
The target customer profile is as below:
1. Government sector:
Under the government sector we found the customers are as follows:
- Power Development Board (PDB)
- Dhaka Electric Supply Authority (DESA)
- Rural Electrification Board (REB)
- Dhaka Electric Supply Company Ltd. (DESCO)
2. Industrial sector:
- Garments Industries
- Spinning Mills
- Knitting Industries
- Dyeing Industries
- Textiles Industries
- Sweater Industries
- Rubber Industries
- Plastic Industries
- Re-rolling Mills
- Food Processing Industries
- Leather Industries
3. CNG Re-fueling stations.
4. House builders developers.
Markets require purchasing power as well as people. The available purchasing power in an economy depends on current income, prices etc. The purchasing power in the above business market is enough in our market. So many Garments Industries and House Builders are going on and day by day they are quickly increasing. They need huge number of sub-station equipments. The government sector has a big plan for electrification for most of the people in our country in near future. World bank & ADB will invest in this project.
The sub-station equipments are not harmful for our natural environment. at present, the deterioration of the natural environment is a major global concern. So we have no concern about this type of marketing.
Various foreign companies are investing a lot in our countries. Different types of foreign company starting their investment in Bangladesh. So without power they can’t be operated. At this present contest our technical environment is good.
Without REB all the local business buyers are purchasing their sub-station equipments from the local manufacturers. Some years ago, the big government sector would purchase transformers from the foreign manufacturers. Now government has strongly prohibited the foreign manufacturers. So the political-legal environment is congenial to our products.
Society shapes our beliefs, values and norms. People absorb, almost unconsciously, a worldview that defines their relationship to themselves, to others, to organization, to society, to nature and to the universe. The overall social-cultural environment is congenial to our product marketing.
Analyzing business market and business buying behavior:
Organizational buying: It is the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.
The major influences on buyers’ behavior:
Business buyers respond to many influences when they make their decisions.
Business buyers respond to four main influences:
- Environmental factor
- Organizational factor
- Interpersonal factor
- Individual factor
Buying behavior of target customers:
|1.||Government Sector (PDB)||Low cost buyer|
|2.||Dhaka Electric Supply Company Ltd. (DESCO)||Low cost buyer|
|3.||Rural Electrification Board (REB)||Low cost buyer|
|4.||Industrial Sector||Quality Product Buyer|
|5.||CNG Refueling Station||Quality Product Buyer|
|6.||House Builders Developers||Minimize|
Buying patterns of our target customers:
|S/N||Target Customers||Buying Patterns|
|1.||Government Sector (PDB)||Local Tender ( Local & International)|
|2.||Dhaka Electric Supply Company Ltd. (DESCO)||Low cost buyer ( Local & International)|
|3.||Rural Electrification Board (REB)||Low cost buyer( Local & International)|
|4.||Industrial Sector||Tender/Spot Quotation|
|5.||CNG Refueling Station||Spot Quotation|
|6.||House Builders Developers||Spot Quotation|
Steps in buyer buying decision:
|1||Advertisement for Tender||Asking for offer|
|2||Tender Dropping||Collection of Offer|
|3||Evaluation of Technical Offer||Evaluation of Technical side|
|4||Evaluation of Financial Offer||Evaluation of Financial part|
|5||Send to Tender Committee for Suggestion & Decision||Collection of Practical experience from users|
|6||Evaluation of previous experience about the company||Collection, Information about company through the users list.|
|7||Factory inspection & select the supplier||Call for bargaining and given the order.|
|8||Issue the purchase order||Taken delivery & Installation|
|9||Inspection the products before delivery||Payment after successfully installation|
Important features for the customers:
- Competitive low price with quality.
- Low percentage of impedance of transformers.
- Sufficient cooling system i.e. radiator that radiates the produced heat efficiently.
- Sufficient manufacturing plant with all testing facilities along with sufficient technical support.
- They would like to sample test in the factory premises by testing equipment.
- They always prefer Japan and European based material products.
- Transformer is compact designed and user friendly.
- Selecting procedure is tender or spot quotation system.
- Most of all are credit purchase mentally.
- Most of the clients compare the technical features at the time of quotation but don’t check the final product as per technical specifications.
Customers’ self image:
Government Sector (BPDB)
As per previous discussion the Bangladesh power development board (BPDB) is the biggest client individually among our local clients. Bangladesh is a LCD country, so more development are going on every, especially electrification programmed has been planned to capture 80% of total population by 2020. At present their yearly requirement is near about 40 crore.
Though Bangladesh is a developing country is going for Industrialization, so every time our industrial section is importing so many sophisticated machines and equipments. Especially we have big garment sector and this sector is expanding day by day. So, all developments must need electric power. That’s why sub-station equipments are very essential for them.
CNG Refueling Station:
Recently Bangladesh government started the use of compressed natural gas for the fuel purpose. At present gas filling is more profitable than oil. So investors are very much interested to invest this sector. Every filling station must need sub-station due high capacity induction motor. So sub-station requirement is extending day by day in this sector.
House Builders & Developers:
REHAB (Real Estate and Housing Association of Bangaldesh) is one of the biggest association in our country. The rate of urbanization in Bangladesh in the past decade was very high. Dhaka in particular has grown very fast in recent years. Due to increasing demand and land price boom it has difficult for individual to afford suitable housing in the city. As a consequence private sector developers of land and apartment builders appeared in the market. Since 1985 this sector has created homes for over 20000 families in the metropolitan city.
Our competitors in the sub-station market:
We have competitors in this market; the competitors are basically two types:
- Local competitors &
- Foreign competitor.
(a) Local competitors: The local competitors are as follows:
- Batelco Ltd.
- Saif powertec Ltd.
- Micro electromics Ltd.
- Energypac .
- Manpower Ltd.
- Intrigral Ltd.
- Shakti engineering Ltd.
- Electroventure Ltd.
- Mammpower Ltd.
- Adex Ltd.
- And some others manufactures.
(b) The foreign companies are as follows:
- Some Chinese transformer manufacturing companies.
- Some Korean transformer manufacturing companies.
- Some Indian transformer manufacturing companies.
- Some Canadian transformer manufacturing companies.
The local companies’ analysis:
The Energypac is the one member in this section. The company is leading all over the company on the point of market share basically in local market. Their marketing strategy, plan, programmed, channel, transportation, communication are more distinctive others. Their monitoring system is also better.
The following companies are in this section due to their local market share and marketing activities.
- Saif powertec Ltd.
- Manpower Ltd.
- Intrigral Ltd.
- Electroventure LTD.
- Mammpower Ltd.
Market follower: The following companies may be categorizes in market follower section as per their market share basically in the local market.
- Navana electronics Ltd.
- Batelco Ltd.
- Micro electronics Ltd.
- Shakti engineering Ltd.
Market nicher: The following companies are categorized in the following sector.
- Micro electronic.
- Power sonic.
- And some others manufactures.
The competitors’ advantages:
The competitors are enjoying following advantages over us whose are varied competitors to competitors as following:
- They are the old & experienced in this field.
- Customers have past knowledge about their product & service.
- Practical technical knowledge.
- For long experienced costing is lower.
2. Betelco Ltd./ Shakti engineering Ltd./ Saif power engineering/ powermann Bangladesh Limited.
- They are older than us in this product market.
- They are not serious about their group name like NAVANA.
- They can offer low price by using low quality raw materials.
- They manipulate the capacity of transformer between written given and given.
- Their targets are not for staying long time in the market.
3. Manpower/ Micro electronics Ltd.
- They came recently in this market by offering so lowest prices
- Their business targets are for a short time in this market.
- They are using worst quality raw materials.
- They are not thinking about their goodwill.
The advantages of NAVANA electronics Ltd.:
Though transformers & Sub-Station equipments are such kinds of products whose are using for a long period of time i.e. required a long life. So, ultimately customers or users choice is supposed to be quality.
NAVANA Electronics Limited is emphasizing the quality, because of that, our product will rum for a long time and the product will attract the customer, ultimately will get our customers by providing quality and service.
Positioning strategies of NAVANA electronics Ltd.:
This is almost same from our group. We are with the best quality and reliable service.
So our Slogans are:
- ‘Navana committed to quality’
- ‘Let Navana take care of your power problems’ and the entire letter issued from us, we are writing.
- ‘Thanking and assuring you of our best services at all times’
Present communication strategies tactics:
Marketing tactics for sales promotions and distributions:
- Advertisement: We are advertising about our product to the Daily News papers various magazines for informing the News we are manufacturing these products.
- Brochures: In the brochures we are highly lighting our factors and specification to inform the customer’s for the product selection.
- Direct marketing: we are direct marketing through our marketing force and also by the telemarketing. We are offering through e-mail also and we have wave site for showing of valued customers.
- Agent: We are marketing our product through our almost 50 agents all over the country, and they are selling our products by exchange of specific commissions.
- Sister concerns: We are marketing our products though our sister concerns like Navana CNG Ltd., Navana real estate Ltd., and Navana construction Ltd. Almost in Navana group.
Pricing strategies of Navana electronics Ltd.:
Navana electronics limited is following the cost-oriented approaches for selecting the price, because our clients would like to stay with us for a long time, So first time we also would like to earn at lest break even for providing our product and service quality for capturing good market share for us. After earning that share, we will go for demand oriented approach. Presently our price is equal or some time higher than the maximum market shareholders.
Comparative price chart of various companies:
Others Bangladeshi product
Low quality price
Worst quality price
Selling analysis for previous two years:
Navana has been manufacturing and marketing the sub-station equipments for several years in the local market. But the sufficient market is not being captured till now. The following graphical representation explains it detailed.
As per the graphical analysis, in 2010 the lowest monthly sale was 13.18 lac and the highest sale was 74.32lack. In 2011 the lowest monthly sale was 25.93 lac and the highest sale was 59.23lack. The average sale in 2010 and 2011 were 345.17 and 41.65 respectively. But comparing the total market it is small share for Navana Electronics Ltd though had been a little bit more increased the average sales than the previous year. So removing the problems that are in the existing procedure may change that total system. Because the target sales volume is expecting around one core in every month.
. The SWOT analyses of Navana electronics Ltd are described below:
As a sister concern of Navana group, Navana electronics’ strengths are as under:
- Financial solvent & ableness: Navana is a solvent & able organization in Bangladesh. It is proven and declared news out of 9 directors of our Board of directors 4 is CIP (Commercial Important Person). In our Banker list we can found maximum banker are in the list, our shares value also by equity value which is more than 3 times of face value.
- Goodwill: Navana electronics earn big goodwill by proving quality products and services to our existing customers.
- Reliability: Navana group and also when electronics Ltd. has a countrywide reliability and good acceptance which is strength of the company.
- Technically sound: We have a big educated and experienced technical group. They are engaged full time for R&D and production area and service area.
- Research and development: We are spending more than 15 lack for R&D purpose. We have 1 (one) graduate engineers and 6 diploma holders for R&D division.
- Similarity of products: Our new products are similar type with our existing power and electrical product. So, we can train our people with a minimum cost.
Following are our weakness in the present situation:
- Price: To maintain the quality we can’t produce cheaper products. High quality means high quality raw materials which means higher cost. We can’t produce cheaper products, as because we can’t meet the cheaper price this is a weakness for us.
- Quality raw materials from aboard: We are getting all raw materials from foreign country. At the point of import, we are paying higher rated duty, VAT and Taxes which increases our prices and this is also a weakness.
- Customer Awareness: Our country customer are not aware about the quality, they are sensitive about price.
Navana has big opportunity in technical field and financial field whose are as follows
- We have technical opportunities
- We have financial support from our group and bank.
- We have opportunities to export the product in Napal, Sree-Lanka, Mayanmer and South Africa.
- For the better quality Navana may get Govt. subsidy for getting government order.
In Bangladesh all the industries are facing the threats of aims products dumping market, we also face same. The Navana organization has the following threats:
- Customer for quality: As we calculate that ultimate in the long run customer will go for quality if this assumptions is failed then it may be created a big problem in our near future.
- Foreign manufacturers: If other foreign manufacturers invest in this sector with their equipped technical support then we will have to face strong competitors that might be a dangerous threat for our company.
- Marketing executives should be given training on service Marketing.
- The organization may conduct a survey in its target market area regularly for founding more business scopes.
- The Marketing Strategic division is too staffed with more qualified and experienced personnel.
- It has brand image to all types of people. But the negative side of this is poor or rural people are not more habituated with this. Because they are not connected with modern world.
- Good advertisement.
- Improved technology.
- Skill laborforce.
Recommendation and Suggestions
Navana Electronics Ltd is a sister concern of Navana group. Navana group is a big group of company in our country in the various sectors. This group has been serving our country a lot for many years. Some sister concerns are developing very quickly and some others also developing but slowly. Navana Electronics Ltd is in the slower division sector. So far, I know, Navana Electronics Ltd has a great golden prospect in this sector with providing some modification. At this context, my suggestions are given below:
Marketing channel: Whatever marketing channel is running in Navana Electronics Ltd. is not sufficient for capturing more market share.
- Industrial marketing channel are more essential for Navana Electronics Ltd.
- Proper selection of marketing channel members.
- At least a marketing training should be given to the members.
- Motivation system should have there for the members.
- Periodically evaluations have to be carried out for the system.
- Sometimes channel arrangement should be implementing.
- Marketing logistic support should be properly implemented.
Marketing communication: Marketing communication is one of the vital parts for any marketing organization. The marketing communication of Navana Electronics Ltd is so poor. So it is the one of the obstacle for proper marketing. The following communication may be implanted:
Advertising: Present advertising system in not enough for mass marketing.
- We should take advertise on the daily newspapers, magazines.
- It may be packaging inserts or packaging outer.
- We need some posters and leaflets.
- At the important places, some billboards and display may be more essential.
Sales Promotions: Some sales promotions may be included in the existing system.
- Premium and gifts may be added.
- Rebates and warranty must be assured.
- Free goods or price-off also important tools.
Public Relations: The public relations may as follows:
- Publication is necessary for our company.
- Public-service activities are a good process for recognizing the company.
- Identify media may be also a good idea about this.
Managing sales force: Sales forces management is the important topic for mass marketing. The following items may be suggested.
- The company will have to design actual sale force i.e. what number of sales are required.
- Proper management should be maintained.
- Training systems for the sales force.
- Motivating, evaluating systems should be there.
- Compensation process should be maintained always.
- Reduce the sales force turnover.
- Proper logistic supports are needed for sales forces which is not available at present.
Managing direct marketing and on-line marketing: Under this heading, I can suggest and have to maintain the following
- Face to face selling, direct mailing, telemarketing, on-line marketing should be properly monitored
Pricing system: Pricing is the most sensitive issue for mass marketing. But our price is higher than any others competitors. This higher price also is affecting our marketing development. So, my suggestions are as follows:
- Overhead should be minimized so that the price will be more competitive.
- Proper material sourcing should find out so that material purchase price will be as lower as possible. Without saving the purchase point, selling will have not to be competitive.
- Wastage should be also minimized by using precious machines. Precious machines with quality operations are needed for quality product and competitive price.
Managing the total marketing effort: The following should be controlled under this section.
- Annual-plan control i.e. sales analysis, marketing share analysis, financial analysis and market based scorecard analysis should be monitored and controlled which are not activating in our company.
- Profitability control i.e. marketing profitability analysis and determining the problems and should take necessary corrective actions.
- Efficiency control must be analyzed, monitored and also should take necessary measures that includes sales force efficiency, advertising efficiency, sales promotion efficiency and distribution efficiency. These practices are not analyzed in the existing system.
- Annual Report of Bangladesh Power Development Board.
- Reports from several nationals & International newspaper and magazines.
- Reports published by Ministry of energy Bangladesh Government.
- Asian Development Bank & World Bank report on power sector of Bangladesh.
- Annual Report of DESA & DESCO.
- Annual Report of Rural electrification Board.
- Annual consumption report of REHAB.
- PWD annual consumption Report.
- Local Transformer manufacturing association annual market share Report.
- Annual Report of Bangladesh Licensing Board of electricity.
- Annual CNG plant Installation Report of Bangladesh.
- Annual BGMEA power consumption report.
- Project Guideline, Commonwealth of Learning.
- Research Methodology, Commonwealth of Learning.
- Marketing Management by Philip Kotler.
- International Marketing by Philip R. Cateora.
- Global Marketing Management by Warren J. Keegan
- Annual Report of Navana Electronics Ltd.