Small or Medium Enterprise - New Marketing Plan

EXECUTIVE    SUMMARY

The overall objective of this causal research is to identify the factors that introduction to new business as like – A boutique shop in a small area or locality. Small or Medium Enterprise (SME) sector what contributing on country’s economy day by day. And, now it’s a up growing trend in our country. Like us students are the most influential groups who are largely entrepreneur today’s business world. Not only here in Bangladesh but also other developing and developed countries skilled, educated ,graduated persons are engaged with this business arena. The main consumers of child, teenagers, younger, senior younger, senior , men  and women .. 

In terms of Bangladesh, There are around 160 million people in Bangladesh, of which only 13 percent have purchased RMG products  where as more than 95 percent are customized dress users. Around 54% respondents opinioned that this sector is less costly and time saving and 63% respondents felt trust to this business arena. 83% respondents think it is easier to access but this sector is not available for villagers, as well as the absence of updated design framework may lead to low demanding activities.

 Moreover, Giant fashion houses are always set their red eye on new tiny house. Their promotional techniques to attract consumers. Like us  must have to  provide proper, standard , low costing  product than them. Besides information on the websites and secured online payment system and cash information facilities to the consumers also creating value for them.

This report is prepared to portray the current situational factor influence towards start up for a new business in our local market or Bangladeshi market. Which factors marketer should focus and have to consider to successfully run and survive their business against their existing competitors.

2.0 Introduction

Chapter Two

About Mother touch

Today, few urban consumers will argue that Mother touch is the local Mecca for deshi handicraft. Mother touch’s product designs has brought consumer attention back to the products and styles that are indigenous to Bangladesh, its designers blending the traditional with the contemporary in a manner that has won instant consumer appeal, starting a revolution in trends that has now been taken up by countless other boutiques and stores. Mother touch’s product designs focus on the diverse types and textures of crafts and patterns that have been passed along from generation to generation among weavers and artisans in craft hubs around the country.

Mother touch also plays the role of protector and promoter of traditional Bangladeshi products and designs locally in Bogra. It houses an extensive design library where remnants of our rich craft heritage, such as Nakshikantha art and Jamdani patterns, have been widely researched and archived for present as well as future use.

History

Mother touch began as a cause – a means to an end for a quiet organization fighting to uphold the dignity of family issues . In 2006, I was in class 8 our locality drawn under massive flood .  We were seeking something that would not be dependent only on land. Then , my beloved mother comes forward with her creative works. Once upon a time that was her hobby became our family business. At the beginning we took tiny order from customers and respectively it achieved local market trust.

Now it’s time for branding here in city area as well as all over the district.  First began encouraging sericulture for women in my village by mother steps, their only buyers were a few scattered retailers in local market and thana level . Weeks, even months would pass between supply and payment, until get higher training and misdistribution channel with improper marketing strategy implemented. Mother touch was born out of a need to ensure that Mother works are not only just household but also be a exact business form. They will contribute on family  by their goods upon delivery, so that they could feed their families.

Today, Mother touch’s reach has spread beyond local market to the rest of the district. It has grown into a thriving national enterprise showcasing ethnic wear to beautiful crafts from silks, handloom cotton, endi to terracotta, bamboo, jute and much more. From a single shop, Mother touch will have grown into one of the Bogra’s biggest retail chains, with eight stores spread across the major Upozila areas of the district – in Bogra, Gaibandha, and Rangpur. That’s my primary mission.

Objective of the study :

From the very beginning of my higher education I came learn from my respected faculty members that how to start a business? Respectively, on every year our knowledge have enriched with various new windows of business. How to start up the selected business? What will be the business strategies? What strategies should implement? Who are the target market? How to set price/pricing techniques etc concerned with a new product/service  business.  By this study I try to map a full framework for new business idea or arena with responsible work to do for this .

As a upcoming fresher in employment problematic country like Bangladesh I would have to choose a SME business to support myself as well as my family, society and My country. Who can say I would be a future business i-con of Bangladesh.

The Report mainly focuses on the following areas:

•  How to start a new business ?
• Marketing plan for new business.
• Marketing philosophies.
• Market potentiality of  the product.
•  Marketing mix , market segmentation, strategies, targeting etc.

Methodologies:

Both primary and secondary data is used to accomplish the objectives of the study. A good number of literatures have been reviewed to sharpen the thought on new product’s marketing plan  and its different facets in the context of Bangladeshi markets. Data on various indicators relating to readiness of the markets have been collected from different sources such as RMG publications and reports, websites of different boutiques, Bangladesh Institution of textile. World policy paper and Bangladesh policy paper about internal market  in Bangladesh, Internet, BTRC (Bangladesh Telecommunication Regulatory Commission) and different companies websites. It must be emphasized that information is also collected from several dailies, Wikipedia etc. through Internet. Various policies and circulars of RMG issued by the Regulation and Policy Department and other departments have also been consulted for preparing this paper.