Assignment on Yellow Brand (Beximco ltd) with (PDF) full free

Acknowledgement

We think if any of us honestly reflects on who we are, how we got here, what we think we might do well, and so forth, we discover a debt to others that spans written history. Some person’s help can make our work easier. The credit goes to the employees from Yellow (Beximco) for which our term paper working became much easier and it was great chance for us to work on this. First of all, we would like to thank our course instructor ................. for his guidance throughout the whole semester. Then we would like to thank all the employees for providing us the information about Yellow (Beximco) that was required for completion of this term paper.

1.      Table of Content

Topic	Page
2.      Executive Summary	1
3.      Objectives	1-2
4.      Methodology	6
5.      Strength and weakness	7
6.      Strength and weakness of the product	7-8
7.      Factors influencing consumers buying pattern	8-12
8.      Buying decision process	12-13
9.      Marketing Mix	14-15
10. promotion	15
11. data analysis and interpretation	16-18
12. recommendations	18
13. Conclusion	19

Executive Summery

The main purpose of the project was to determine the market value or demand of stylish clothing in Modern Trade of Bangladesh where Yellow (Beximco) is quite famous. Company sale do not reveal how well the company is performing relative to competitors. To access the relative performance, market share analysis is done. The company’s overall market demand is its sales expressed as a percentage of total market sales. The company has opened YELLOW outlets at Gulshan Avenue, Bashundhara City and Dhanmondi in Dhaka. YELLOW received an overwhelming response from the consumers when Beximco Textiles first opened an outlet in Bashundhra, company executives said. "Because of their affordable price range and fashionable, high quality garments, customers flocked to buy our products," said Beximco Textiles chief executive officer and Beximco Group director Syed Naved Husain.

Beximco plans to open more retail outlets in Sylhet and Chittagong and to eventually take its exclusive YELLOW brand worldwide.

Introduction:

Yellow is one of the largest clothing stores in Bangladesh. The store is very popular among the present and young generation for unique collection of designs, specially panjabis and shirts for men and maintains the modern fashion trend. The quality of its product is extremely good as it has been successful to keep old customers always coming. The name YELLOW, itself has now become a distinct clothing brand in Bangladesh and the credit goes to its exclusive collection and comfortable products.

Objective of the study

Primary:

1.      We have tried to introduce the product and the company from which it belongs.

2.      SWOT analysis of the brand from an image perspective.

3.      Strengths and Weaknesses of the product or service.

4.      Through SWOT analysis and creating a Marketing Memo we tried to figure out the company side and the customer side.

Secondary:

1.      How the buying pattern is influenced of consumers including cultural factor, social factor, personal factor, psychological factor, buying decision process and defined the marketing mix.

2.      By doing above all the things we tried to explain the company’s marketing activity, marketing implementation.

3.      Elaborating all the information tried to clarify how the product is produced, what are the steps they follow to enhance the production activity, how they handle their threats and opportunities and interpreted the whole data we analyzed.    

Methodology of the Study:

·        Primary Sources :

As being  a design driven brand that celebrates creative and original thinking to highlight a lighthearted and optimistic view of life through a superior quality product. They inspired by their customers, Unconventional yet high-quality. Progressive yet tastefully casual—yellow embraces harmony through conflict.

A primary source is basically source material that is closest to the person, information, time period, or idea that is being studied, such as surveys, interviews, and observations.  It is contrary to secondary sources, which is information that has been passed through another person, medium, or agent. 

We did the survey on yellow in the next following page. And we came into a result after the survey.

·        Secondary Sources :

Secondary sources are like magazines, books, journals, internet or newspapers. Here we use the internet especially as a method of the study .We uses some websites for collecting information’s about yellow and also about the Beximco Company. The websites are given in the end of the whole study.

Strengths and weaknesses of the brand from an image perspective:

Strengths:

1) Branding - Personally I feel YELLOW has strong branding in the everyday basics, from casual to work wear etc.

2) Infrastructure - Allows for ease of distribution nationally all over Bangladesh.

3) Image- Consumer trust on brand in image perspective is already built.

4) Quality- Consumers trusts the products with their quality.


Weaknesses:

1) Marketing: A strong brand it may be, but marketing is not as strong in Pakistan.

2) Variations: Nothing much to buy for women but men and only focused on casual wear but not at all on party wear and etc.

Strengths and Weaknesses of the products of YELLOW: 

 For understanding the service of yellow we use the marketing memo .It helps to identifying the strengths and weaknesses of the products of yellow.

Following chart will show the strengths and weaknesses of Yellow.

Consumer’s behavior

The factors affecting consumer’s behavior:

To identify the buying behavior of a customer is very difficult subject. A customer buying behavior is influenced by cultural, social, personal and psychological factors. The factors affecting the customer behavior are as follows with a diagram:

Cultural Factor:  Culture, subculture and social classes are particularly important in buying behavior.

o Culture: Culture is most fundamental determination of a person’s wants and behavior. The important characteristics of culture are it’s learned, it is shared through social institutions, and it changes with the time.
o Subculture: Each culture consists of smaller subculture that provides more specific identification and socialization for the member. Subculture includes nationalities, region, and geographical region.
o Social Class: Virtually all-human societies exhibit social stratification.

Each culture has social class, which are follows.

1. Social Factors:
   In additional to cultural factors Customer’s behaviors influence by such social factor like following:
   o Reference group: A person’s reference groups consist of all the groups that have a direct and indirect influence on the person’s attitudes.
   o Family: Family members constitute the most influential primary reference group. Family choices influence in buyer’s mind.
   o Roles & Status: The person’s position in each group can be defined in items of role statuses.

2. Personal factors:

Byers decision also influence personal characteristic.

o Age & Life cycle Stage: Buyer’s decision differs on their age and stage in life cycle. Their choice is related of them.
o Occupation: Customers buy product consist their occupation.
o Economic circumstance: Product choice is greatly affected by ones economic circumstance.
o Life Style: Lifestyle means the pattern of living. It also influences to buyers what he should be bought?
o Personality & Self confidence: By personality means distinguishing psychological characteristics, self-confidence. A person must buy a product with consistence his Personality and self-confidence.

3. Psychological Factors:

    o Motivation: A motive is a need that is sufficiently pressing to drive the person to act. Psychologists have developed theories of motivating.

o   A motive is a need that has a sufficient level of intensity.

o   Creating a tension state that drives the person to act.

o   Satisfying the need reduces the felt tension.

     o   Perception: Perception is the process by which an individual selects organizes information input to create a meaningful picture of the world.
     o   Learning: It involves change in an individual’s behavior arising from experience.

     o   Beliefs and Attitudes: Through doing and learning people acquire beliefs and attitudes.

Buyer’s choice also influence by followings

Buying decision process:

Need Recognition

From Internal Stimuli:

o   Hunger 

o   Thirst 

o   Fear 

From External Stimuli:

o   Neighbor’s Purchases

o   Advertisements

o   Window Shopping

o   Newspapers & Magazines

Information Search

From Personal Sources:                                                                           

o   Family 

o   Friends

o   Neighbors

o   Acquaintances

From Commercial Sources:

o   Advertisements

o   Dealers

o   Salespersons

o   Packaging

o   Displays

Evaluation of Alternatives

Successive Sets in Consumer Decision-Making:

o   Total Set 

o   Awareness Set 

o   Consideration Set 

o   Choice Set 

o   Buying Decision

Purchase Decision

Interfering Factors:

o   Attitudes of Others: Opposing and intense opinions of family members, close friends and acquaintances

o   Unanticipated situational factors: Changes in income, job transfer, loss of employment, change of priority e.g. sudden payment of educational fees etc

Post purchase Behavior

o   Post purchase satisfaction-disappointed, satisfied, delight

o   Post purchase action-exit option, voice option.

o   Post purchase use and disposal-throw it away or resale.

Define the Marketing Mix

The major marketing management decisions can be classified in one of the following four categories:

• Product
• Price
• Place (distribution)
• Promotion

Product

o   The product is the physical product or service offered to the consumer. In the case of physical products, it also refers to any services or conveniences that are part of the offering.

o   Product decisions include aspects such as function, appearance, packaging, service, warranty, etc.

Price

o   Pricing decisions should take into account profit margins and the probable pricing response of competitors. Pricing includes not only the list price, but also discounts, financing, and other options such as leasing.

Place

o   Place (or placement) decisions are those associated with channels of distribution that serve as the means for getting the product to the target customers. The distribution system performs transactional, logistical, and facilitating functions.

o   Distribution decisions include market coverage, channel member selection, logistics, and levels of service.

Promotion

o   Promotion decisions are those related to communicating and selling to potential consumers. Since these costs can be large in proportion to the product price, a break-even analysis should be performed when making promotion decisions. It is useful to know the value of a customer in order to determine whether additional customers are worth the cost of acquiring them.

o   Promotion decisions involve advertising, public relations, media types, etc.

A Summary Table of the Marketing

Product	Price	Place	Promotion
Functionality Appearance Quality Packaging Brand Warranty Service/Support	List price Discounts Allowances Financing Leasing options	Channel members Channel motivation Market coverage Locations Logistics Service levels	Advertising Personal selling Public relations Message Media Budget

Data Analysis and Interpretation

Particulars	Strongly agree	Agree	Neutral	Disagree	Strongly disagree
1. Fabrics of Yellow are good.	60%	15%	15%	10%	0%
2. Yellows fabric is comparatively batter then other brands in the market.	20%	10%	40%	20%	10%
3. Yellow should extend its brand and introduce new product.	20%	20%	30%	20%	10%
4. You are satisfied with the finishing, swing style & also packaging of Yellow.	5%	10%	35%	20%	30%
5. The Price of Yellow products are reasonable.	40%	10%	30%	10%	10%
6. All lines of products are available in every showroom of Yellow.	0%	10%	30%	40%	20%
7. You purchase Yellow products for keeping upgraded styles.	60%	10%	20%	5%	5%
8. The Promotional activities of Yellow are satisfactory ((TV advertisement, Newspaper advertisement, Billboard etc.)	20%	35%	15%	30%	0%
9. Comparing with other brands in the market, Yellow can be considered better.	30%	30%	20%	10%	10%

Interpretation: From the sarvay the statistics analyses we got a clear idea of Yellows present condition. First of all Yellow has the better brand value then the other and they have been keeping their position from so long with comparatively others competitor. All of their products are available in every showroom. But their promotional activities are not good enough like others have.

Recommendations: Yellow is producing the high quality product. They launched this brand by producing finest fabric with their visionary approaches. Such acceptance has made the brand a market leader within a very short time. In our way of thinking the recommendations for this company are:

01.  Increase their branches. They have so many customers in the market. But there are no enough showrooms in every location. So they have to increase their branches.

02.  Promotional activities. They also have less promotional activities. Their path is only BILLBOARD. We think they have to look for other activity like NEWS PAPER, Web site and etc.

03.  Marketing: A strong brand it may be, but marketing is not as strong in Pakistan. They have to increase or follow good marketing policy not to lose market outside the country as well as Bangladesh.

Conclusion

o    With the help this marketing mix analysis we can say that, the company may a achieved a strong level of customer preference. Although there is a tough fight with its major competitors but Company’s quality of products played a vital role to create this position in such situation. By preparing this term paper we learn about how companies can analysis marketing mix and we think this work will help us in our future when we are in professional life. We believe that this analysis will help us to know about the Beximco group and how they achieve their objective.


  


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