Description of Business:

This business will produce and supply of sweet item, bakery, fast food, and home made food

item. The items will be sold in wholesale and retail basis on its own outlets. It will also supply

the food items in different social arrangement like marriage, milad, etc.

Environmental Analysis

A business converts inputs into outputs in order to make a profit. However, our business

BANALATA SWEETS does not exist in a vacuum; it also exists within an external

environment consisting of the actions of other players who are outside the business. The main

external environment factors consist of:

Social It deals with how consumers, households and communities behave and their

beliefs. For instance, changes in attitude towards health, or a greater number of

pensioners in a population. In our country each occasion there is a special need of sweets.

It is a tradition of our culture that every occasion there is need of some traditional sweets,

like: bundia, kalojam, chomchom, rosogolla, etc.

Legal The BANALATA SWEETSwill mainly food (sweets) manufacturing firm so it

will be their duty to get registration from the BSTI. It also needed to get registered from

the Dhaka City Corporation for trade license. Tax Identification Number (TIN) to pay the

tax, vat and other duty to the respective authority.

Economic The economy affects the business in terms of taxation, government

spending, general demand, interest rates, exchange rates and other economic factors. For

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ENVIRONMENTAL AND INDUSTRYANALYSIS

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BANALATA SWEETS these factors may not affect that much but the general demand

is very essential external factor.

Political Changes in government policy might affect the business e.g. a decision of

operating the business. Like in the political action like Hartal, Political Meeting, Political

action in different days will affect the business.

Technological BANALATA SWEETS will be semi automated firm, the procedures

of producing sweets will be strictly observed by the supervisor. For maintain the quality

of food items proper preservative action should be taken.

Ethical We, BANALATA SWEETS very much concerned about the hygienic factors

of our quality. The main concerning factor is to provide quality foods to get higher

customer satisfaction.

Competitors There are already some existing competitors in market, like: Ali Sweets,

Bonoful, Prince, etc. To compete with this type of old and popular sweets stores so, we

should make many things in concern, like: the location, customer profile, etc.

2.2: Industry Analysis:

Focus should be on task environment. For BANALATA SWEETS, our focus factors are:

Industry Demand: The demand for sweets is not fixed; rather in occasional program its

demand is significant. Like: S.S.C, H.S.C result date, Puja, Marriage ceremony etc.

Competition: Though a business does not want competition from other businesses,

inevitably most will face a degree of competition. The BANALATA SWEETS will not

in exception case. But our location of business may help it to achieve its target.

The BANALATA SWEETS could react to an increase in competition in future in the following

ways:

Cut prices: by adopting new technologies with time.

Improve quality: it may increases the cost but ultimately it may help to increase
customer satisfaction.

Spend more on promotion: may help to increase brand loyalty;

Cut costs: by using cheaper materials, make some workers redundant cost may be

reduced in future.

The main mission is to established profitable and quality sweet manufacturing firm. We want to

establish sweet store which will be renowned for its quality and create a brand image. We have

already started our business from 2009. This firm will be successful in future because our aim is

attainable and our spirit is strong enough to achieve our goal. After deciding to start the sweet

business, four of us are finding a name for our shop. Umme Salma one of our partner suggest a

name that is BANALATA. She also gives the justification behind this name, she select this

name after the name of Banalata Sen of Nator. And the other reason behind it is that she wants to

gift something natural to the customer. This idea impresses us and immediately it is decided to

go for this name the BANALATA SWEETS.

We will try to produce each and every type of sweets. We are trying to produce all the

traditionally preferable sweets and also want to bring some sweets items from other place like:

Tangails Chomchom, Baguras Doi, etc to get customers higher satisfaction. Lalmohon,

kalojaam, roshogollah, shondesh, chomchom & yoghurt should be our main special sweets

which will be produced in our production house first. We offer Tangails Chomchom, Baguras

Doi because customers even now want the Doi made in Bagura, Chamcham made in Tangail

rather than made in here. So these sweets we try to bring here which may differentiate us from

our competitors. Again we have an idea to introduce special sweets for diabetic patients and we

are quite sure that it will help us to differentiate ourselves and providing the customers the real

taste and flavor.

We try to locate our business in Pallabi-Mirpur. We chose the place by considering some factors,
like: In Pallabi we have own land and building which will be easy for us to make a Sweet Store.

It is about one Bigha. Behind the main building their is a Pucca tin shed building which will be

use as factory or manufacturing unit of bakery and sweets.

The only community center named Appayon is situated near our located store, which is always

busy with different ceremonies; seminars etc. It may help us to increase our sales volume. Our

building is besides a market place which will also help in increasing our sales volume. And

CHAPTER 3 THE DESCRIPTION OF THE VENTURE

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another important factor behind choosing this location is that Mirpur is developing day by day.

Lots of housing societies and individual entrepreneurs are making multistoried buildings in

Pallabi areas. In Mirpur the development of the number of garments industries are significant.

So, we have a huge chance of attracting customers and gaining a brand name.

We are already found sufficient Karigar for our business. But it was a difficult task for us to

manage the Karigar. Later we were able to employ only 8 karigar for our shop. But with these

karigar they had 2 more helpers to support them.

We collect our initial capital by generates loan for the capital, from our savings amount and

some cash from one of our partners father which he invests for our business. In the way we will

able to accumulate 2.5 lakh taka as an initial invest. With this amount we will try to start our

business in the name of the Almighty.

Marketing plan

5.1: Defining the business situation

We know that for analyzing market demand for first, it is very important to analyze the situation

and specify the objective of the project. It is very important to understand the current market

situation; the demand for Sweets is always same. Means in our country whatever the occasion it
is whether religious occasions, or ceremony parties, or any occasion sweet is must. The main

objective of BANALATA SWEETS is to provide high quality and hygienic sweets in local

market, because the people;e are now-a- days more concern about their health and nutrition. In

this Pallabi of Mirpur there are already exists some sweets stores but we want to provide better

products with various types of flavors to our local customers. Though the new product of us has

been received a new market challenge to cope with the existing companies. However, the

BANALATA SWEETS is quite confident about quality and own self.

5.2: Defining the Target market/Opportunities and Threats

Sweets are always favorable to all. So, its difficult for us to segment the market. We will

obviously ensure about the quality of our sweets and its variety of flavors. But we want to make

us differentiate ourselves by providing special diabetic sweets for diabetic patient specially. We

mainly go for geographical segmentation first, where our main target is the pallbis people of

Mirpur. We also projected an assumption of numeric figure that our local customers means the

people of pollobi are about 60% others come from outside the Pollobi about 40%. We can show

our target segment through the following pie chart:

BANALATA SWEETS is a new firm and it can take opportunity of easy to enter in market.

Means in this market it is easy to enter for any organization. Consumer income is increasing-

which may also work as our opportunities. Our country is on the rise in economy our consumer

income is increasing. And as a result of better income the consumers are willing to pay for

hygienic commodities. BANALATA SWEETS may have to face some threats in their

business, like: they may face the threat in term of capture the market because already there are

some existing popular sweet stores in Mirpur so; its a challenge to capture the market share.

5.3: Considering the Strength and Weakness

Strength: BANALATA SWEETS has several powerful strengths on which to build:

 New Positioning: The BANALATA SWEETS position the products with the higher

quality and locally produced product.

Core Strength: Proving high quality product and also want to give some new flavor.

Image: We will try to build our image with our quality products gradually.

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Location: We chose this location considering many factors

Weakness: BANALATA SWEETS has some major weaknesses:

Competitors: The major weakness of our firm is that there is already some existing

sweets stores some of them are also have some popularity.

Lack of brand awareness: BANALATA SWEETS is new in Pallabias well as in the

market. So, it has no brand or image in the market. Whereas our major competitors like

Muslim, Prince, Bonoful and all other major rivals have strong brand identification in the

market.

We also done the PEST analysis and find that there is not such thing that may cause any threat

or weakness for us rather we get positive results which also influences to start the business as

soon as possible.

5.4: Developing Own Marketing Goals and Objectives

BANALATA SWEETSs marketing goal is to introduce us to the local and targeted people

about our quality and brand. To achieve the goal we also take some sorts of marketing strategies.

The main objectives are to gain the higher customer satisfaction with our high quality products

and the some sort of customer services like: for local people we will provide home delivery

services.
BANALATA SWEETSs positioning will be the product quality and its features to its

geographical segmented target customers. With its ability to provide hygienic high quality

sweets product, BANALATA SWEEETS can serve all these consumers and can achieve

satisfaction.

Mission:

BANALATA SWEEETS will produce high quality food items and will try to bring newer

tastes and flavor in its products maintaining the quality standard to gain customer satisfaction.

We also try to provide our products to our targeted customers with a reasonable price.

Non-financial objectives:

The non-financial objectives are: to cerate and maintain a very healthy growth of business with

desired image ensuring the quality first, will try to add a new taste and flavor of sweets, and to

ensure optimum utilization of all resources.

Financial Objective:

The main financial objective is to earn a strong profit base in the first few years because we

know that it can bear profit only for a short time but in the long run it will not work. Another

financial objective is to ensure an adequate return on investment, to obtain a return on investment

the first year and second year objective of the company.

Segmentation:

BANALATA SWEEETS segmented their consumers based on geographical segmentation,

with the consideration of behavioral factor like occasion, user status, and user rate.

Targeting the Market:

BANALATA SWEEETSs primarily target the all people of Pallabi and also other people

outside of Pallabi for which we make focus on the location in terms of choosing the business
place.

Positioning:

Using high quality and focusing on the location of it, we are positioning BANALATA

SWEEETS as the identical product. The marketing strategy will focus on the providing quality

food product as the main feature. We will also try to introduce some different taste and feature

to our products.

5.5: Defining Marketing Strategy and Acton Plan

Our marketing-mix strategy is based on superior performance in the following areas:

Product quality

Consumers preference

Geographical Segmented Area

Our marketing strategy will create awareness, interest, and appeal from our target market for

what New-Born offers our customers.

BANALATA SWEEETS marketing mix strategy comprised of these approaches to product

strategy, customer services, pricing strategy, placing strategy, and promotional or distributional

strategy.

Product Strategy:
People are more conscious about food day to day because it is directly related with the health and

another reason behind it that the income of the people are increasing with our economy. Here our

prime focused segment is the Pallabis people. The BANALATA SWEEETS focuses in to

introduce high quality sweets with various tastes and flavor and also willing to introduce new

special sweets for the Diabetic patient. Our company mainly wants to establish this

BANALATA SWEEETS as specialty product (Consumer Food Product).We will also want to

follow the organizational marketing strategy and some other marketing strategy. We also expand
our business in bakeries in future. To support our products position in the target market

segment, our product will provide the higher performance quality to our targeted consumers. Our

company will strive for high level of conformance quality. The brand name is BANALATA

SWEEETS a new brand in the market and we tried to follow the strategy to select this brand

name. The BANALATA SWEEETS will provide all sorts of sweets items to gain the higher

customer satisfaction, like- rajvog, kalojam, doi, rosmalai, shondesh, lalmohon, rosogolla,

chomchom, bundia, laddu, and many more various types of sweets to attract the targeted

consumers. We will try to ensure the customer about the products name, brand name, its

content, about its quality, and how hygienic the products are, where it is made, etc. We also give

the opportunity to the customers to taste before buy which will obviously help us to make a

special place in the customers mind.

Customer Services:
Customer service is known as the word of mouth. For our company BANALATA SWEEETS

meeting the customer needs and creating loyalty is the primary goals. If the customer services are

poor than the customers may chose to buy from our competitors and reality is that we have to

face a high competition in market. We also have some plan to take some necessary steps to gain

high customer satisfaction.

- We will try to provide the home delivery services to the local customers, which

will obviously differentiate us from the other competitors.

- We will give the option to the customers to taste the sweets before giving

purchase decision.

- The employees performance in term of their behavior with the customers, etc.
Pricing Strategy:

The BANALATA SWEEETS pricing strategy will be Our company will give comparative

benefit to our customer by pricing strategy. Price will be reasonable for the market. Our pricing

objectives will be market share leadership. We will use market-penetration pricing. But, later we

will also price-adjustment strategies like- set the price based on the reasonability towards the

customers and its quality, promotional pricing etc. Our initial pricing will be quality based

pricing. The BANALATA SWEEETS use the market-skimming pricing strategy to set price.

Placing Strategy (Distribution Strategy):

The BANALATA SWEEETS will be located in Pallabi-Mirpur. We chose the place by

considering some factors, like: In Pallabi we have own land and building which will be easy for

us to make a Sweet Store. It is about one Bigha. Behind the main building their is a Pucca tin

shed building which will be use as factory or manufacturing unit of bakery and sweets. The only

community center named Appayon is situated near our located store, which is always busy

with different ceremonies; seminars etc. It may help us to increase our sales volume. Our

building is besides a market place which will also help in increasing our sales volume. And

another important factor behind choosing this location is that Mirpur is developing day by day.

Lots of housing societies and individual entrepreneurs are making multistoried buildings in

Pallabi areas. In Mirpur the development of the number of garments industries are significant.

So, we have a huge chance of attracting customers and also can build a brand image in market.

Promotional Strategy:

The BANALATA SWEEETS wants to promote both customers and retailers by promotional

offerings. For customers we will offer -

Home delivery services

Allow the customers to taste before purchase

Give facilities to the customers to taste our sweets and know about the quality, for first few
days.

Action Plan:

BANALATA SWEEETS is a new brand of sweets manufacturing company will be introduced

in the middle of this year. We like to introduce an action plan for next six months. We hope that

if the first six months action programs will run well, then we will achieve our objective quickly.

Within these months our main concern is to attain our break even point. We are very concern

about our new product, like product quality, customers acceptability, comparative advantages

etc. We also go for some sort of promotional activities to the consumers by offering them to taste

our sweets in the store which will be free, this will be done not more than 1 week. This offer will

be given just for introducing our sweet to the local people and make them aware about our

products quality and taste

As we know when we are able to consider probability or assumption with events, we can

consider it as risk or risky criteria and when we cannot add assumption then it is considered as

uncertainty. So it is a very important issue for businesses to eliminate uncertainty through

assumptions. Now, as a consequence BANALATA SWEETS is also trying to convert their

risk into return. There are three ways that need to be considered and those are:

Risky Elements or Factors:

BANALATA SWEETS, today is dominating in Mirpur-Pallabi area, as consequences

competitors are finding it lucrative business. If we define risky factors then that could be fierce

competition among Musilim Sweets, Banaful, Alauddin etc. And another important issue could

be fluctuation of ingredient prices though it will be applicable for all participants but question

will be arose who will dominate?

Consequences of Risky Events:

As we know, impact of risk is very much harmful for any business but the nature of the risk will

not affect every business equally. The possible consequences for BANALATA SWEETS is
 Reduce customer (as increase quality competitors or price fluctuation or lack of

differentiation)

Reduction in sales

Lowering goodwill (as if there is any adulteration willingly or unwillingly/ quality

measurement)

Wind-up (due to personal reason or forcefully due to fierce competition)

CHAPTER 7 ASSESSMENT OF RISK

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Prevention Policy:

BANALATA SWEETS should concentrate on following issues;

Provide variation in products

Set optimum price to be superior in the market

Make physical outlet in other areas (as the business grow bigger for diversification)

Maintain quality (as ensured as before)

Find best Sweets concept from best area (will add value)

Keep active workers motivated (as the secret recipe will be hidden for others)

Always concentrate on demand issues (to reduce wastage)

If possible, provide special offers during peak seasons (like; eid, bangle new year,

SSC/HSC resultetc.)

All above issues are prime guidelines for BANALATA SWEETS to always be the superior

among the sweet business..

Problems Associated with Entrepreneur:

The partners of BANALATA SWEETS faced some problems when they starts-up their
business like-

1. Difficult to arrange finance: It was difficult for them to take bank loan or to manage

other sources of large fund.

2. Long hour and hard work: Initially they had to do lots of work because they were

involved for the very first time with such type of business. So, that it was needed long

hour and hard work to carry out the activities.

3. Higher level of stress: This business is full of high level of stress, so that always they

had to feel pressure to overcome it.

4. Complete responsibility: They were new with such types of business so, they had to

face high risk with high responsibility.

5. Existing Competitors were a big threat: It was a big challenge for BANALATA

SWEETS to compete with the existing competitors in market. The parents have to be

very concern to choosing the strategies for the business.

After preparing the business plan some points are found which the entrepreneur could made in

concern which will definitely help them a lot. To obtain the goals and objectives of the

BANALATA SWEETS more efficiently and quickly these points could help a lot:

The members did not prepare the written business plan. But in reality the written business

plan might work as a guideline for the members, and it would also help them in taking the

strategies that obviously help to their business.

The members do not preserve the documents of their business, which might cause legal

problems and also could create the members conflict of interest.

They did not prepare written forecasted financial statements. For this reasons their

projection is not matched fully with the actual cash inflows-outflows, operational
expenses, assets and liabilities, gross profit/losses, net profit/loss, main part the Sales.

They (Partners) were not concern about the proper accounting system. For this reason

they have to face some problems in calculating the costs that occurred before production.

The members are busy with several activities, for that reason they could not give proper

time in preparing business plan before establishing the business.

The partners were made their main focus on profit. Because they dont have any idea

about that BANALATA SWEETS can bear profit only for a short time but in the long

run it will not work.

They did not forecasted about the demand of their products by following the demand

factors. So, first they have to face problem of mismatched in the actual demand and their

projection.

They plan for introduce special sweets for the diabetic patient but which can not be

fulfilled in reality.

There is a mismatch in the projection about the raw materials that are needed in actual

manufacturing process.