BEARDBLEND

BEARDBLEND

North South University

Group: The A Team

Course: Mkt202.5

Prepared For

Ms. Farhana Habib Zinnia (Fhz)

Department of Marketing

North South University,

Dhaka, Bangladesh.

Prepared By

NAME ID
1. Nurul Alam Rafiuddin Ahmed 1611899630
2. Abdullah Al Sakib 1620832630
3. Anika Nashid
4. Mehabub Rahat Akash 1620109030
5. Anik Ahmed 1621843030

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ACKNOWLEDGEMENT

At first, we thank the Almighty for His graceful sight upon us.

Secondly, with due respect, we would like to thank our honorable faculty Ms. Farhana Habib
Zinnia for her patience, guidance and support in the preparation of this report and this course. It
feels great to have been given an opportunity by her to do a real life work related to business and
marketing plan. We will always be indebted to her for the valuable suggestion and all the time
that she has spent in guiding us through the course. Without her immense support this project
would not have been possible to complete at all, least of all, within given time.

Then we are also grateful to our classmates for their great support and inspiration. They inspired
and helped us throughout the course in every single way possible. It has been a great privilege to
get the opportunity to work along with these awesome people.

We are also grateful to those people without whom it would have been quite impossible for us to
do the research regarding this entire report. During preparation we had to overcome some major
difficulties and enjoyed our each and every moment in making this report.

Lastly this report could not be attibuted with a single persons effort only. Each an every
member of The A Team group contributed equally in the completion of this report. Every team
member contributed an equally important part putting this report together. Again we would like
to thank our honourable faculty and every people who helped us by cooperating with us.

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Contents
Executive Summary ...................................................................................................................................... 6
Introduction ................................................................................................................................................... 7
Service offered: ......................................................................................................................................... 7
Logo: ......................................................................................................................................................... 7
Tagline: ..................................................................................................................................................... 7
Mission statement: .................................................................................................................................... 7
STP Strategies ............................................................................................................................................... 7
Market segmentation:................................................................................................................................ 7
1. Demographic: ................................................................................................................................ 7
2. Geographic: ................................................................................................................................... 8
3. Behavioral: .................................................................................................................................... 8
Target market selection & Strategy: ......................................................................................................... 9
Positioning strategy:.................................................................................................................................. 9
More for more: ...................................................................................................................................... 9
Marketing mix strategies: ....................................................................................................................... 10
Product: ............................................................................................................................................... 10
Brief detail of the product: .................................................................................................................. 10
Brand Sponsorship .................................................................................................................................. 11
Product Life Cycle of BeardBlend in Bangladesh Industry .................................................................... 11
PRICING ................................................................................................................................................ 12
VALUE BASED PRICING: ............................................................................................................... 13
MARKETING SKIMMING: .............................................................................................................. 13
PRODUCT MIX PRICING STRATEGY: ......................................................................................... 13
DISCOUNT PRICING: ...................................................................................................................... 14

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SEGMENT PRICING: ........................................................................................................................ 14

PLACE: ................................................................................................................................................... 16
Strategies for the factory: .................................................................................................................... 16
Locations strategies for the retail outlet: ............................................................................................. 16
Distribution Channels: ........................................................................................................................ 16
Promotion: .............................................................................................................................................. 17
Advertising Objective ......................................................................................................................... 17
Creating Advertising Message: ........................................................................................................... 17
Fantasy: ............................................................................................................................................... 17
Words: ................................................................................................................................................. 17
Selecting Advertising Media:.............................................................................................................. 17
Facebook: ............................................................................................................................................ 17
YouTube: ............................................................................................................................................ 18
Fashion Magazine: .............................................................................................................................. 18
CREATIVE ADVERTISMENT: ........................................................................................................ 18
PROMOTIONAL TOOLS:................................................................................................................. 18
Premium: ............................................................................................................................................. 18
Contests:.............................................................................................................................................. 18
Patronage reward: ............................................................................................................................... 19
PUBLIC RELATION: ........................................................................................................................ 19
DIRECT MARKETING: .................................................................................................................... 19
STRATEGIC APPLICATIONS: ............................................................................................................ 19
PRODUCT/MARKET EXPANSION GRID: .................................................................................... 19
1. Market Penetration: ..................................................................................................................... 19
2. Product Development:................................................................................................................. 20
BRAND EXPANSION STRATEGIES: ................................................................................................. 20
1. LINE EXTENSION: ................................................................................................................... 20
2. BRAND EXTENSION: .............................................................................................................. 20
SWOT ANALYSIS: .................................................................................................................................. 21
Strength Analysis: ................................................................................................................................... 21
Weakness Analysis: ................................................................................................................................ 21

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Opportunities Analysis: .......................................................................................................................... 21

Threat Analysis: ...................................................................................................................................... 21
Conclusion: ............................................................................................................................................. 22

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Executive Summary

BEARDBLEND a company of beard-oil which came of existent to deliver men with complete
solution to all their beard problems and give them ease at maintaining their beard in an age
where beard is considered as a symbol of pride. Our product beard-oil is a complex blend of
natural and authentic oils which you apply to your beard for a shinier, softer and hygiene beard
experience. The product itself is very new in the county. In this report will try to cover how we
are going to make the marketing mix and the strategies to make people buy our product.We are
concentrating wholly towards male customers as they will only be able use our product but we
also have plans to sell products to female on different occasions. We are going set the initial
price a lit bit high and based on the perceived value of the beard-lovers which will help us to
generate good amount of revenue in a short period. The factory will set be in Keranigonj which
will be 3 k.m. east of our retail store that will be in Rifles Square.We have plans to spend much
in promotion. First thing we are going to do is let people know BEARDBLEND is here in the
market serving to all beardlovers. We will promote our product through facebook,youtube and
fashion magazines.We also have plans to use promotions to create excitement among customers
which will trigger them to buy our product. Our business wont be like this forever ,in future we
have plans to expand our business by expanding our market, product lines and by bringing new
different products.

This was an overview of our project a broader description is given below.

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Introduction

Service offered:
BeardBlend is a complex blend of many oils used to treat beard which promotes hair growth,
hydrates your beard's bristles, moisturizes skin and reduces itchiness, softens whiskers and facial
hair, adds shine and body to your beard, allows longer bristles to be groomed into place, creates
the conditions for healthy beard growth.

Logo:

Tagline:
Blend your pride with style

Mission statement:
In an age where beard is considered a symbol of pride; our mission is to provide the best solution
to regain your pride.

STP Strategies

Market segmentation:

We have segmented the market based on 3 aspects,

1. Demographic:
In the case of demographic segmentation, we have segmented the market using
two key factors, gender and age.

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Gender:
Based on gender the market can be segmented in two different segments, male and female.
As we are company making beard oil, our more preferable customers will be male.

Age:
Consumer needs and wants vary with age. Based on the consumer needs and the offerings
that our product makes, we have chosen to serve the consumers between the ages of 18-29 and
30-45.

2. Geographic:

We have segmented the market into two geographical parts, one is international and the other
one is national.

National:
As we are starting a new business, we dont have enough resource to serve the international
market, we have targeted the national market. As a national market, we have chosen Bangladesh
to serve.

3. Behavioral:

Occasions:
We have segmented the consumer market based on behavioral characteristics (occasions) as
some potential buyers including female customers might purchase our product for gifting
purpose on regular occasions and special occasions.

Benefits Sought:
Customers who are willing to pay for benefits which we are offering; such as total beard
care, solution to style, hair growth etc. and seek for high quality are the benefits sought by our
potential customers.

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Target market selection & Strategy:

We have decided to go with the concentrated marketing strategy. As we have mentioned

before, we segmented the market on the basis of gender, age and behavioral characteristics. So,
well have a large share of different segments; and as we only need one marketing mix to serve
this enormous amount of potential buyers, it will be much more cost efficient.

Selected marketing
mix

buyers who might

males aged between purchase based on
national customers
18-45 bahavioral
characteristics

Positioning strategy:

More for more:

We BeardBlend aim is to provide better qualitative product with more benefits at a higher yet
affordable price.

Our product is made of high quality natural ingredients. So the process of making this product is
going to be costly. To cover up the cost and assure our revenue we will be charging more.
Therefore we are following the more for more positioning strategy.

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Marketing mix strategies:

Product:

A complex blend of natural and authentic oils to apply on you beard.

Brief detail of the product:

Just like the fuzz on the top of your head needs to be taken care of, so does the fuzz on the lower
half of your face. So after years of research and countless hours of hard work, we have come up
with a beard oil which we call BeardBlend. Our beard oil is a complex blend of natural carrier
oils such as jojoba oil and almond oil. It also has exotic essential oils such as tee tree oil,
eucalyptus oil, peppermint oil and lavender oil. The product is a leaving conditioner which you
can apply directly on your beard any time of the day you want to and totally forget about it. It
has all natural ingredients and a silicone free base which is so good for your beard. We assure
you that you will see significant results within few uses of the product. The oil softens up your
beard and helps with beard flakes and dryness. It also helps moisturizing the skin your beard is
growing on. The antioxidant attributes of the essential oils deal with any kind of skin irritation
such as acnes and itchiness. On top of everything it just makes your beard smell awesome. Now
everything narrows down to one question- whom is this product for?; we say, For all the
gentlemen who have little time to give their beard the caring that it deserves, use BeardBlend and
it shall give your beard all the love it needs. For a beard which is taken care of shall take care of
you.

All high quality natural ingredients:

To deliver you the best quality possible, we have used only natural and authentic ingredients
to make our beard oil. It is 100% silicone free and doesnt have any kind of harmful chemicals. It
is the only most natural way there is to take care and grow your beard with style.

Removes acnes and prevents itchiness:

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Our beard oil is made of only natural oils. The exotic essential oils, which are used to make
our beard oil along with natural carrier oils, have antioxidant capabilities which help skin
conditions such as acnes. The oil also protects your bears and facial skin from harmful UV rays.

Convenience for customers:

For all the gentlemen who have little time to take care of the fuzz on the lower half of their
face, as our beard oil is a leaving conditioner, you can simply put it on after shower or just before
bed and completely forget about it. It makes your beard smell awesome all day long.

Better delivery service:

We provide 24/7 cash on delivery service without any delivery cost within Dhaka city. And
for our customers outside from Dhaka; we have come up with a good yet profitable deal also. We
can serve anyone, anytime.

24/7 online support:

We soon are launching our own website where we will give our customers all the help and
support they need. The website will also help us get feedback from our customers. The website
will contain all our product information and customers can also place their orders there.

Brand Sponsorship

BeardBlend come as a national brand in the market because it carries the brand name and value
for itself as it will serve as the whole brand. It will be distributed nationally under a brand name
owned by our company, as opposed to local brands and private label brands, the manufacturers
and it delivers to the retailers like supershops, saloons, stalls etc. BeardBlend will produce,
distribute and carry the name of the manufacturer.

Product Life Cycle of BeardBlend in Bangladesh Industry

As BeardBlend is being newly launched in the market, it is in the introduction stage.

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We are yet to commercially launch our website where our buyers might also place their orders.
The website will have brief details of our products which might attract the buyers. Also we will
soon be launching Facebook and other social media pages by the end of December in order to get
feedback from customers and build strong customer relationship. We have obtained a trade
license, TIN certificate, and have registered as a limited company. The co-founder agreements
have also been made. The idea is to introduce our website by the end of 2016 (31st December,
2016).

In the introductory stage, we are hoping to see our product making a steady impact on the market
as our product is new to the market and currently there are no competitors of our product. Itll
have promotional offers. Though the cost will be high, but because of its high quality the effect
will be imperative in the market. Afterwards in the growth stage, the product will start gaining
customers as there will be different types of fragrances for the different customer choices. In the
maturity stage, we will meet our highest profit margin and will be planning to deal with many
shapes as well as product variation will come. BeardBlend will produce its comprehensive ability
to guide through the whole process.

PRICING:

BeardBlend will have two different fragrances of the same price. The price will vary in size of
the containers it comes in. Medium sized beard-oil of 40ml will be charged at 199 taka and large
sized container of 60ml will be charged at 299 taka.

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Product Version Quantity Price

Beard Oil Medium 40 ml 199

Beard Oil Large 60 ml 299

VALUE BASED PRICING:

Beardblend will use value based pricing strategy and set their products price based on the value
their beard-oil provides to its customers. We intend to create a fashion trend where beard will be
considered as a symbol of pride and using the beard-oil of BeardBlend will add extra value to all
the beard lovers. Keeping this in mind, setting the price according to the perceived value of
customer will be a great advantage.

MARKETING SKIMMING:

While setting price of the new product Beardblend will use the market skimming strategy. It
would be wise to set the initial price high and with increasing demand of the product lowering
the price a little bit. This will be very effective since the product is new to the market and there is
no competitor. This will ensure Beardblend gets as much revenue as possible before other
competitors enter the market.

PRODUCT MIX PRICING STRATEGY:

PRODUCT BUNDLE:
BeardBlend will sell several beard-oil in a bundle at a reduced price.

Six pack bundle:

While buying 6 bottles of 60ml beard-oil separately it will cost you 1794 taka to be exact.
BeardBlend will offer a bundle of six-packs at a reduced price of only 1699 taka.

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PRODUCT ADJUSTMENT STRATEGIES:

DISCOUNT PRICING:

Beardblend will use discount pricing for adjusting their price. The company will provide
functional discount to its trade members if they will be able to sell high quantity of the product.
For example some of the top Saloons will work as retailers of the company and if they will be
able to sell the minimum amount of product, we will give them a discount of 5% on their buying
price. Another type of discount will available on quantity, if they buy a large quantity of the
product they will get a discount of another 5 percent.

SEGMENT PRICING:

Beardblend will set different price for different segment.. We will use this strategy under
customer-segment pricing and time-segment pricing.
Customer-segment pricing: Frequent buyers who buy product from our authorized store for six
consecutive month will get 10% discount on their next purchases. Students will get 10% discount
on their first purchase on showing their student ID card.
Time-segment pricing: During the period of our contest No Shave November which will be
during November we will sell the product at a 10% reduced price.

PSYCHOLOGICAL PRICING:

We will use psychological pricing strategy while setting the price, ending the numbers with 99 or
other attracting numbers.

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PROMOTIONAL PRICING:
BeardBlend will use promotional pricing strategy, setting the price below the list price selling at
189 taka and 279 taka to create excitement and urgency for the first 3 months. During our
special event No shave November we will sell the product at the promotional price rate.

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PLACE:

Strategies for the factory:

BeardBlend has chosen Keranigonj as the factory location. Keeping in mind the convenience of
transportation, low rent and cheap labor cost it was wise for us to choose this location. It will
also be our storehouse and since the place is 3k.m.s east of our retail store ,it will be easy to
deliver the product in the store.

Locations strategies for the retail outlet:

BeardBlend will choose Rifle square (also known as Shimanto square) as our authorized retail
outlet. It will be our only authorized store for the time being. In recent years Rifles Square is a
hotspot for our potential customer. Men of different age, class and occupation come here to meet
up with people or eat with their friends. It would be a legit decision to put our authorized store
here to easily attract these segments of customers.

We will also use top mens saloons and barber shops as our retailers, there our product will
showcased and sold in exchange of commission.

We recently have made contact with some super shops such as Agora, Shwapno and Prince
Bazar. The all agreed corporate with us.

Distribution Channels:

We will use both distribution channels strategies direct and indirect. We will use direct
distribution channel to sell our products directly to the customers through our authorized store
which will be in 80, Rifles Square, Road # 2, Dhanmondi R/A. We will also sell our beard-oil
through retailers such as mens saloons and barber shops. We will make Total care, Craze,
Sicilly, Hairobics, Razor n Scissors, Trim n wash, Ban Thai etc. as our retail partners. Many
super shops such as Agora, Shwapno and Prince Bazar will be selling our product. We will also
be using different delivery companies to send our products to our customers.

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Promotion:

Advertising Objective

BeardBlends initial advertising objective would be to inform people that we are serving beard
oil to all the beard lovers. Our product would be a complete solution to style your beard and treat
your beard well. Our beard oil is made of 100% natural ingredients and doesnt contain any
harmful chemicals.

Creating Advertising Message:

In a age there is a clutter between so many different advertisement , its very difficult to
make a customer watch. Thanks to the power of remote a marketer has only 7 seconds to grab
attention of a customer. We are go start with something interesting and use Madison and vine
strategy to break through the clutter. The general message will be to all the beardlovers that our
beard-oil has the potential to serve you greatly.Our creative concept will be based on distinctive
,we are tell people why beard is a symbol of pride .

Fantasy:
Beardblend will choose fantasy as executive style. Beard is a symbol which attracts most
of the female. Thus, the advertisements will also show that the females are getting crazy seeing a
guy with perfect shining beard as he walking by.

Words:
BeardBlend will attracting memorable word to catch attention of the customer .
Grow it with style,
wear it with pride

Selecting Advertising Media:

BeardBlend is selecting internet as our main advertising media because of our customers
habit and it will help us to reach our intended amount customer to achieve our advertising
objective at a minimum cost.

Facebook:
Facebook is a great marketing channel for new products like ours to inform people that we
are in the market. We will promote our product in facebook in some advertisement videos and
well also create a trend of keeping beard is a symbol of pride. Our facebook page will post
attracting quotes about beard that will motivate people to grow beard. Well organize an online

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beard contest where participants will upload picture of their beard and the most liked and shared
will get a chance to win a dinner with a celebrity.

YouTube:
YouTube is the most viewed streaming video website in the internet and most our targeted
people visits regularly and well advertise our promotional videos in YouTube ads. Well also
give some extra potential tutorial videos to style the beard properly by an expert. Well also use
buzz marketing strategy using YouTube celebrities, who will give review about our products

Fashion Magazine:
As BeardBlends product is related to fashion and style, it would be a wise decision to select
fashion magazine as the advertising media. Fashion magazines will be a great medium to attract
the people who want to keep their beard stylish. As magazines have high believability and
people tend to believe most things they read on magazine and it would be easy for us to position
our product on their mind.

CREATIVE ADVERTISMENT:

PROMOTIONAL TOOLS:
BeardBlend will use some of the promotional strategies to create excitement and urgency
among customers and increase short-run total revenues.

Premium:
BeardBlend will make some special packs where a free beard-comb will be given with two
containers of our beard-oil for a limited period.

Contests:

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BeardBlend will organize two different contests to create excitement among customers. A
beard contest will be held in every 3 months , where the person with the most stylish beard will
get a change to feature in our magazine ads and a dinner with a female celebrity. Our main
contest will be held on November No shave November where participants cant shave their
beard for the whole November and the winner will get a trip to Bali with his better half.

Patronage reward:
BeardBlend will give loyal customers membership cards. People who will buy our
products for 6 consecutive months from our authorized store using their membership cards will
get a discount of 10 percent on their next purchases.

PUBLIC RELATION:

Charity events:
Beardblend will organize charity events during the month of November. The tradition
No shave November takes place in this month. We will create awareness of cancer in this
month. Participants will save a good amount of money from not shaving their beard; we will
motivate them to donate that money for the cancer cure foundation.

DIRECT MARKETING:

Email:
We will register our customer in our website by our emails. During the period of our
promotional offers and contest we will let them know by sending them emails. During festivals
we will send them greetings. Our loyal customers will get 10% discount coupons on their
birthdays.

STRATEGIC APPLICATIONS:

PRODUCT/MARKET EXPANSION GRID:

BeardBlend will use two strategies from the product/market expansion grid to expand their
business in the future, Market penetration and Product development.

1. Market Penetration:

BeardBlend will penetrate its product deeper in the market to make more sales by adjusting
distributors and advertising.

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Adding more authorized stores.

Making all the top class Saloon of Bangladesh our distributor .

Using YouTube celebrities and experts for buzz marketing.

Giving free beard styling advices and tutorial videos to its users on our website.

2. Product Development:

BeardBlend which originally started as a beard-oil company have plans to add other mens facial
hair product on their product line to the existing market. In future we will brings more products
like beard cream, mustache wax, beard comb and stuffs and relate with the lower fuzz of your
face.

Brand Expansion Strategies:

BeardBlend will choose 2 brand expansion strategies to expand their product line and bringing
new product, Line extension and brand extension.

1. LINE EXTENSION:

BeardBlend will extend their beard oil product line by introducing new versions of their product.
Adding new fragrances that will suit different people of different personality. Making an
exclusive version of beard-oil with new improved ingredients for premium customers which will
be charged highly. These new versions are intended to fill the holes in the product line and keep
out the competitors.

2. Brand Extension:

BreadBlend which started as a beard oil company is hoping to add new types of men facial hair
products under the same brand name. Products like beard cream, beard wax, beard styling comb
will be added under the same brand name. This will give the new products an instant recognition
without spending much on advertising to build a new brand name

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Swot Analysis:

No Limited
competitors resource
Ingredients
easy to get

Strenghth Weakness

Threat Opportunities

Future Market
competition dominance
Might turn Turn into style
into a Fad statement

Strength Analysis:
1. Since BeardBlend is a new product to the market and theres no such product in the
country right now, we are considering this as our strength. We are first of our kind to the
market.
2. The ingredients which are going to be used to make BeardBlend are easy to get. So there
will not be any trouble to get them together. Though some of the ingredients will be
imported, still there will be no trouble getting our hands on those.
Weakness Analysis:
1. We currently are limited to a small amount of capital and needed resources. We consider
this limited amount of money and resource as a major weakness of ours.
Opportunities Analysis:
1. Because of the advantage of being new in the market, Beardblend will always have the
opportunity of dominating the market.
2. BeardBlend has a great opportunity of turning the concept of applying beard oil to beard
into a style statement.
3. Beardblend has potential to expand its serving market in future.
Threat Analysis:
1. Though currently theres no company serving the same kind of product in the market,
Beardblend will always face the threat of new competitors coming in the market
2. After a while style of growing beard might turn into a fad. This is a bad for our product.

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Conclusion:

BeardBlend is a complex blend of natural and authentic oils which you apply to your beard for a
shinier, softer and hygiene beard experience. The idea is to deliver men with a solution to all
their beard problems and give them ease at maintaining their beard in an age where beard is
considered as a symbol of pride.

Hoping for the best, we will be launching our product by the end of December, 2016.

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