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August 29, 2012

Assignment on RC-Cola with (PDF) full free



Executive summary
This report discusses the detail of marketing analysis of RC-Cola (a Partex Beverage) which is a product of Partex group. This report contains the company profile including SWOT analysis, Strengths and weaknesses of product and service analysis, factors influencing consumer’s buying pattern, data analysis (a questionnaire survey with interpretation). In company SWOT analysis we tried to identify about strength, opportunities, weakness and threats of this company. Then we prepared a Marketing Memo explaining the company side and customer side with interpretation.
Factors influence a consumer buying behavior says about different types of factors.  Marketing mix analysis is the main part of this analyzing. Because in marketing mix part we discuss about this company’s product which they produce, price range which types of consumers can purchase its products. So this report is the total over view of RC Cola (a Partex Beverage).  With the help of our course instructor and the brand manager of Partex Beverage we are successful to finish this work.






 INTRODUCTION
Businesses that succeed do so by creating and keeping customers. They do this by providing better value for the customer than the competition. Marketing constantly have to assess which customers they are trying to reach and how they can design products and services that provide better value. Today’s competitive and free business world Marketing is the essence for any organization. In these days successful companies all levels have one thing in common that is they are strongly customer focused and heavily committed to marketing. For many business firms, a common important goal is the long-term increase in the value of their common stock. Every manager must have an effective marketing strategy. Marketing is more than any other business function that deals with customers. Understanding, creating, communicating, and delivering customer value and satisfaction are the very heart of modern marketing thinking and practice. In this term paper we have tried to understand marketing in practice by studying the marketing process and strategies followed by marketing department of Partex Beverage and concentrated on the product called RC Cola.




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
Ø  Primary:-
·        Text Book Marketing Management 12th edition by Philip Kotler & Kevin Lane Keller
·        Internet
Ø  Secondary:-
·        Public Survey
·        Interviewing an employee of RC-Cola
SWOT analysis on RC Cola
SWOT analysis means an overall evaluation of the Company’s strength, weakness, opportunities and threats.  We analysis the SWOT of RC Cola (Partex Beverage Ltd) which is given below with matrix:



Strengths:
1.      Brand Image: The name Partex beverage Ltd. Itself the premier beverage brand image. So as RC Cola is their product then it’s able to create enormous goodwill by its quality product all over Bangladesh.
2.      Pricing: RC Cola takes lower price than any other juices are taking. It is enough clear that the price is quite reasonable to be succeeded.
3.      Availability: Generally available to the nearest retailer.
4.      Excellent attention tool: RC Cola first introduced the product called RC Mobile that made brand knowledge in the mind of a customer. It was a catchy name that helped to get benefit.
Weaknesses:
1.      Lack of Competency: Where Coca-Cola and Pepsi Company are dominating the market in that situation RC Cola cannot achieve international wide market.
2.      Weak promotional activity: There are various ways of doing promotion of the product but RC Cola just focused on the TV advertisement at once. They are not doing any investigation to the fact that where is the problem to get in touch with customers directly.
3.      Barrier to the development of product: As RC Cola is the franchise of USA Royal Crown Cola then without their permission they cannot step up to the worldwide marketing strategy. So, in this way they are being deprived from the development towards international wide market.

Opportunities:
1.      Changing customer taste: RC Cola is changing customer taste in a way that gives customer essence of Coca-Cola but little bit different. Some people say its sugar level is different from the other drinks but okay with the taste.
2.      Targeting new geographic area: They are trying to reach every area as much as they can because of customer’s positive response.

  Threats:
1.      Deprived from international event: Pepsi has covered worldwide international event like World cup football, Cricket world cup during this time. Its demand rising internationally it also affects the customer of Bangladesh.
2.      Increasing price level: Now-a-days the price of raw materials is increasing and for this production cost is increasing. So, as a result the price of the product will be increasing.


Strengths and weaknesses of the product or service
MARKETING MEMO                                     CHECKLIST FOR PERFORMING
                                                                                        STRENGTHS / WEAKNESSES ANALYSIS


 
                                                                                  


                                                                                   Performance                                                                            Importance
                                                                           Major           Minor                              Minor                       Major          
                                                                          Strength       Strength     Neutral      Weaknesses           Weaknesses      High        Med      Low    

Marketing
1.        Company reputation                  
2.        Market share                                
3.        Customer satisfaction                 
4.        Customer retention                      
5.        Product quality                                
6.        Service quality                            
7.        Pricing effectiveness                         
8.        Distribution effectiveness         
9.        Promotion effectiveness
10.     Sales force effectiveness
11.     Innovation effectiveness
12.     Geographical coverage
Finance
13.     Cost or availability of capital
14.     Cash flow
15.     Financial stability
Manufacturing
16.     Facilities
17.     Economies of scale
18.     Capacity
19.     Able, Dedicated workforce
20.     Ability to produce on time
21.     Technical manufacturing skill
Organization
22.     Visionary, Capable leadership
23.     Dedicated employees
24.     Entrepreneurship orientation
25.     Flexible or responsive





 
                                                                                                                                                          






So from the above research, it is found that RC-Cola has strong points in very few sectors like Company Reputation, Customer Satisfaction, Product Quality, Pricing Efficiency and Economic scale, but in all other factors go against them. The products are not that much available, there is lack of innovation in products, there has not been too much effort showed in their promotional activities for which the company has had to suffer and now-a-days it is just too much lacking behind the competition.


  

Factors influencing consumer’s buying pattern

Cultural Factor:
The city celebrates a variety of cultural programs and festivals which give RC cola the opportunity to use their promotional activities during those festivals. For example, during the time of Pahela Baishakh the weather is so hot that people get so thirsty and try to have some lemon flavored drink which is then influence people to have RC Lemon and at a cheaper price they purchase RC Cola rather Coca-Cola or Pepsi.
Social Factor:
Sometimes it happens that a group of friends goes for shopping and after a while everyone gets thirsty then they decided to have a drink. Then anyone of the friends can influence his or her choice to other friends. Then the others can be influenced by that person and when they taste it they may become a regular consumer of RC Cola. Because it tastes different to people who has always drink Coca-Cola or Pepsi. Sometimes a family member can influence to have RC Cola. The person who has less income can be biased by the RC Cola.
Personal Factor:
People change their goods and services over their lifetime. Because sometimes people get monotonous to have the same kind of feelings. So, the person who drinks Coca-cola every time may taste RC Cola to change his or her taste. A person’s occupation may affect his or her buying behavior. Lifestyle can affect buying behavior like; a person who is more likely to be different from others may consume RC Cola rather than others.

Psychological Factor:  
Hearing from the others that RC Cola tastes better than any other drink may drive a person to the RC Cola. The advertisement saying that it refresh people and has a freedom of choice can work as stimuli for a person to consume RC Cola and its other flavors.
Buying Decision Process
1.      Problem Recognition:
Our research shows that a person’s internal stimuli like, thirst pushes him or her to consume RC Cola for cultural factors depending on different festivals. Externally a person can be influenced by the other consumption and TV advertisement.

2.      Information Search:
Most of the time friends and family members become major information sources. Obviously TV advertisement, packaging and past experience helps people to purchase RC Cola.

3.      Evaluation of Alternatives:
As urban areas are located very tactfully by RC Cola then it’s easier to target the general people through hat-bazar, tea stalls with little grocery. In this way Partex beverage Ltd. are being able to grab the availability. Through the Slogan of the advertisement called “freedom of choice” people understand the taste and flavor. 

4.      Purchase Decision:
Unanticipated situational factor sometimes happens that a buyer of Coca-Cola may consume RC Cola for different reasons like; a salesperson may turn him or her off and drive his or her choice or decision. In other way, attributes of others like evaluation of the product may publish on the newspaper or magazines and can change a consumers mind.

5.      Postpurchase Behavior:
After consuming the product RC Cola the customer may become disappoint to purchase it further or may not be. They start following information on those kind of products to find out the best for him or her.


Define the Marketing Mix:
Product: RC Cola offers different flavors in our country. It has two different flavors RC Lemon, RC Orange and RC Diet.
Types of Products:
Product
Name
Flavors offered
Pet bottle
&
Can
Mission
Statement
RC:

1.     RC Cola,
2.     RC Lemon,
3.     RC Orange
4.     RC Diet


Liter (1000ml),250ml
Mobile (.5 L)
Mini (200ml)
Freedom of life

Product Features:
The Partex beverage uses 5 flavors in for RC soft drinks and soft drink are provide in quantity of 250ml, 500ml, 1000ml, and 2000ml. Among those quantities, which are, provided by partex customer preferred mainly 250 ml can & pet 500 ml bottle. Pet 200 ml are successfully known as RC mini.

Quality:    
To ensure the quality international quality controller and as well as international quality standard can be followed by partex. Since, as the customers are not brand loyal they frequently change the brand as it necessary in situation. So partex can use quality as a competitive strength for its beverage

Labeling or Packaging:
Labeling in case of refreshment drink is essential. The labeling can impulse some of the customer to change the brand as in Bangladesh the customers are not loyal in respect of this type of product. The label also requests the consumer to crash the bottle in the trashcan. It also contains the company logo and the manufacturing date and expiry date of the product to inform the consumer about the product. In addition they can give some social massage in labeling. For mineral water they can use little quantity mini pack. Full grade bottle can create further utility to consumers. The pet bottle can create further utility to the consumers. Most of the consumers do not crash the bottle rather using to carry water or similar consuming things into the bottle. The marketing strategy is emphasizing this behavior of the consumer and also designed the bottle convenient for the consumer.

New or existing product development:
Partex Beverage (RC Cola) is a franchisee of the “Royal Crown Cola” of USA. All the flavors offered by the Partex Beverage are as same as the “Royal Crown Cola ” of USA. In case of product development they mainly mean the change of flavor and change of packaging & labeling. Till now there is no change in the flavor and the labeling of the product. But they have an idea to launch new Beverage product like juice item, tea etc.




Pricing:
All the beverage products in Bangladesh are delivered to the general consumer on an average. Demand of this type of product is very price sensitive, as there are some other competitors such as Coca-Cola, Pepsi, Virgin, Uro Cola, Mojo, Lemu etc. Hence Partex Beverage should very careful about their pricing policies, strategies, approaches, influencing factors etc. Pricing decision is very versatile as well as intellectual act for the company. Partex beverage has already reached to the door of maximum consumers more or less with a flexible price with positive response. They need to continue that strategies.

Setting the final price:
Most of our country people earn very limited income. But the culture, the custom has been so like that a cold drink in a party or in meeting or picnic is prestigious looking. Again if they are in an easily available price, there will be no question. People will rush to it. But they also are sensible about the quality level too. So, Partex Beverage emphasizes quality and standard level.

Considering these, Partex Beverage follows psychological pricing along with reference price. For example, Virgin had a wide market for their can, which costs Tk 15 per cane, but whenever Partex Beverage introduced can with Tk 12 (3 Tk less then virgin), demand of virgin can have gone down. Those who purchased virgin can whenever they are in journey picnic have mostly prefer RC mobile, RC plastic bottle they set prices less then competition price.




Place:
As per objective of the company they need to use very sound distribution channel to increase their sale. In distribution their products Partex Beverage is very conscious about their distribution channel. They do not sell their product directly to the ultimate customers. They use middlemen in distributing their Beverage products. Dealer, wholesalers and retailers mainly perform middleman’s task. Here they also perform many other functions like information gathering, promotion and contract with the customers, financing and also risk taking. Company can introduce new products sharing ideas with middleman. So they use indirect marketing channel.
Their main depot is sited at Rajendrapur. Dealers purchase from factory depot with high margin. Wholesalers purchase from those dealers in some small lots, they sell it to the retailers and finally retailers sell to the ultimate customers. 
About distribution Zone:
Partex Beverage’s distribution is spread over greater six divisions called Dhaka, Chittagong, Khulna, Rajshahshi, Shylet and Barisal. Different districts are also included in those greater zones. Day by day they are trying to increase their distribution area all over Bangladesh.
Export Partex beverage products:
Partex Beverage initially starts export their beverage products in abroad especially in India, Nepal, Indonesia, UAE and the country of SAARC. We know Pepsi and Coke mostly cover the cold drinks market in our South Asia. So it is very difficult for Partex Beverage to create a position of their beverage product in abroad. But they try in little scale.
Transportation Modes:
We know that Partex Beverage try to charge blanket price to the customer. In this case is Transportation mode is one of the factors that have an effect on their pricing decision. There are ranges of Transportation modes but Partex Beverage mainly uses their own van just to transport their products from factory to depot, or depot to warehouse.

Promotion:
Promotion is like a wing for a product to fly high. It is the sum total of activities of advertising, sales promotion and public promotion. A true fact of the Bangladeshi soft drink consumers is, approximately 8o% of them is not brand loyal. So they get attracted easily toward the brand, which comes with big offers, and comparatively low price. Partex Beverage has realized the fact and designed its promotional functions to influence the whole consumer wing, most importantly that 80% brand UN loyal portion.

Advertising:

The advertising objective of Partex Beverage should be like:
  • Informing market about price change.
  • Encouraging customers to switching to their brand.
  • Keeping the product in consumers mind during off- seasons.
  • Describing different ways to use its product.
  • Building brand preference.

Advertising message:
`Freedom of choice’ – is the advertising message of all RC products. In their bottle label RC conveys a massage to its customers.

Different Advertising Media:

  • There are Bill Boards in the significant places in all big cities of the country.
  • The national daily News Papers are useful for the publicity of promotional competition offered by the company.




Sales Promotion:


For sale promotion partex beverage is doing following things that help to increase their sale.

  • Sample: While started at 1997, the company offered free samples among the customers for a few days to draw their attention.
  • Price pack: Last two years they are offering this promotional tool, in some intervals. A scratch card available with its 1,1.5 and 2 liter bottle containing the offer of reducing Taka 2-5 per bottle.
  • Premium: The scratch card mentioned above also carries the offer of some items as gift on buying RC beverage items. Such as walk man, mobile phone, wristwatch, cap, T- shirts etc.
  • Discount: This offer is offered to the retailers. Purchasing a big lot gives them a straight reduction in price.
  • Trade show: Partex beverage has participated regularly in trade shows, including DITF, CITF and many other trade shows and fairs. There they demonstrate their products, communicate directly with the target consumers and sell there beverages to them.




Data Analysis and Interpretation
Particulars
                     
Strongly agree
Agree
Neutral
Disagree
Strongly disagree
1. RC-Cola tastes good
5%
15%
30%
30%
20%
2. It taste from other soft drinks available in the market
10%
20%
40%
20%
10%
3. RC-Cola should extend its brand and introduce new flavors
20%
20%
30%
20%
10%
4. You are satisfied with the packaging of RC-Cola (Different shapes (250ml, 500ml, 1000ml etc.)
5%
10%
35%
20%
30%
5.The Price of RC-Cola is reasonable
20%
20%
40%
15%
5%
6. All flavors of RC-Cola are available in nearby shops
0%
10%
30%
40%
20%
7. You drink RC-Cola to keep you mind fresh and become energetic
0%
10%
20%
40%
305%
8. The Promotional activities of RC-Cola are satisfactory ((TV advertisement, Newspaper advertisement, Billboard etc.)
0%
5%
15%
50%
30%
9. Comparing with other  soft drinks in the market, RC-Cola can be considered better
5%
5%
30%
20%
40%



         
From the survey the statistics we got clearly, we clearly understood that the taste of RC-Cola is not better from or even close to give them any competition, the Marketing of RC-Cola has been very poor for some last years, all of its products are not available everywhere, there is no more innovation in its product, so currently the condition of    RC-Cola is very poor and if necessary steps are not taken, it may turn out into an alarming situation very soon.



Recommendations
RC cola was launched with a vision to deliver the consumers the finest quality of product. Subsequently it has been highly accepted and appreciated by the consumers of the country. Such acceptance has made the brand a market leader within a very short time. To the target customers, RC cola now stands as a symbol of freedom of choice.

1.      The Partex group management uses the rational approach for their product’s promotion, which is basically emphasizing the product attributes in the ads rather than emotional approach. So, to be more effective in the ad campaign they should use emotional approach in their ads to attract more customers.

2.      As RC cola losses CO2 after opening the bottles and losses the essence of cola taste, so they should come up with more new ways to keep the sufficient CO2 inside the bottles. Ultimately it will give the customer more taste to have a RC cola.


3.      RC should make modifications in its budget determination process because a top down approach is a weak form of determining budget. As a leading company it should adopt strong and acceptable forms of budget determination.

4.      RC can also include some more beverages in their product line such as RC juice items. This will attract the children and health conscious people much more and create a new market for their new product with special items like juice.


5.      We all know that Coca cola and Pepsi has engaged themselves in some controversial issues in recent years like, these companies are financing to Israel soldiers with their profit earns. RC as a local product can create new market by taking the advantage of this kind of issues.
                                Conclusion
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 promotional activities 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 Partex Beverage Company and how they achieve their objective.


Sources:
1.      www.Partexgroup.com
2.      RC Cola TV Advertisement
Marketing Management; Phillip Kotler, Kevin Lane keller, Abraham Koshy, Mithileshwar Jha; 13th edition; A South Asian Perspective




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2 comments:

  1. Thank you for your valuable writing, it is really very useful. I hope for many more valuable posts from your great writing. assignmentsweb.
    Thank you for your broad thinking. Your post is really helpful and valuable to the readers.

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