Introduction Marketing Mix is the set of controllable tactical marketing tools the firm blends to produce the response it wants in the target market. The marketing mix consists of everything the firm can do to influence the demand for its product. The many possibilities can be collected into four groups of variables known as the “four Ps”: product, price, place, promotion. Marketing mix helps consumers to asses quickly about the company. It is an effective tool to analyze company’s overall product line, pricing, promotion and value and supply chain. In this report we have tried our best to explain Square toiletries ltd company’s marketing mix techniques. Page 1 of 54
Transcript
Introduction
Marketing Mix is the set of controllable tactical marketing tools the firm blends to produce the response it wants in the target market. The marketing mix consists of everything the firm can do to influence the demand for its product. The many possibilities can be collected into four groups of variables known as the “four Ps”: product, price, place, promotion. Marketing mix helps consumers to asses quickly about the company. It is an effective tool to analyze company’s overall product line, pricing, promotion and value and supply chain. In this report we have tried our best to explain Square toiletries ltd company’s marketing mix techniques.
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Chapter One
Company History
SQUARE today symbolizes a name – a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. SQUARE today is more than just an organization, it is an institute. In a career spanning across five decades it has pioneered the development of the local business in fields as diverse as Pharmaceuticals, Toiletries, Garments, Textile, Information Technology, Health Products, Food Products, Hospital, etc. With annual turnover above 616 million USD and with a workforce more than 28,000, square today is a true icon in Bangladesh business sector.
SQUARE Toiletries Ltd. started its journey in 1988 with a single product as a separate division of SQUARE Pharmaceuticals. In 1994, SQUARE Toiletries Ltd. becomes a Private Limited Company. At present, SQUARE Toiletries Ltd is the country's leading manufacturer of international quality cosmetics and toiletries with over 50 products.
Currently, SQUARE Toiletries Ltd is Carrying out its production in its two automated plants at Rupsi and Pabna. Depending on the nature of products, formulation and packaging, SQUARE Toiletries Ltd has product specific machinery. SQUARE Toiletries Ltd uses raw materials from the world renowned suppliers like Dragoco, Firmeuich etc. SQUARE Toiletries Ltd always performs international standard production process which follows the Good Manufacturing Practice (GMP). Having an annual turnover of US$ 53.58 million and annual growth of 15.03% square remains one of the leading companies in Bangladesh.
1.1 The journey begins
Square started out as a small scale pharmaceutical venture in 1958.It was a partnership effort of four young and enterprising men whose determination and passion saw it through the turmoil of the incipient period. By its fourth year, Square turned into a profit making organization.
SQUARE, today symbolizes a name - a state of mind. Fifty years of hard work, passion and commitment have brought us where we are today from the very inception in 1958, when Square Pharmaceuticals Ltd, the flagship company of Square Group, was established. Today Square Group has burgeoned into one of the top-line esteemed conglomerates in Bangladesh.
Square Toiletries Ltd. started its journey in 1988 with a single product as a separate division of Square Pharmaceuticals.
In 1994, Square Toiletries Ltd. became a Private Ltd. Company.
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At present, STL is the country's leading manufacturer of international quality cosmetics and toiletries with 20 brands and more than 55 products covering a wide range of categories like skin care, hair care, oral care, baby care, fabric care, scourers, male grooming and OTC.
Besides core business functions STL has long been taking active part in different philanthropic activities like employment generation program for vulnerable community, financial aid to disadvantaged and natural disaster affected people, helping acid victims, tree plantation, creating mass awareness on health and hygiene issues, supporting in education and various local community programs and many more.
1.2 Milestones: SQUARE
1958: Debut of Square Pharmaceuticals as a partnership farm
1964: Converted into a Private Limited Company
1974: Technical Collaboration with Janssen Pharmaceutica, Belgium, a subsidiary of Johnson and Johnson Intl, USA.
1982: Licensing agreement signed with F.Hoffman-La Roche Ltd., Switzerland.
1985: Achieved leadership in pharmaceutical market of Bangladesh among all multinational and national companies.
1988: Debut of Square Toiletries Ltd. As a separate division of Square pharma
1994: Initial public offering of Square Pharmaceuticals Ltd’s shares.
: Square Toiletries ltd. becomes a private limited Company.
1995: Chemical Division of Square Pharmaceuticals Ltd. Starts production of pharmaceuticals bulk products (API).
1997: Square Pharmaceuticals Ltd won the National Export Trophy.
: Debut of Square Textiles Ltd.
1998: Second unit of Square Textiles Ltd. is established.
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2000: Square Spinnings Ltd starts its journey.
2001: Square Knits Ltd. is established.
: Square Fashions Ltd starts its operation.
: US FDA/ UK MHRA standard Dhaka unit of Pharmaceuticals goes into operation.
: Square Consumer Products Ltd starts its operation.
: Square Infomatix is established.
: Square Hospitals Ltd is incorporated.
2005: New State-of-the-Art Square Cephalosporins Ltd. goes into operation: built as per US FDA/ UK MHRA requirements.
2006: Square Hospitals Ltd starts its journey.
2007: Square Pharmaceuticals Ltd., Dhaka Unit gets the UK MHRA approval.
2008: of Square Pharmaceuticals Ltd. starts SVPO (Small Volume Parental & Ophthalmic) unit, built as per US FDA requirements, goes into operation.
2009: Starts manufacturing of insulin maintaining quality standards of US FDA & MHRA. Dedicated hormone & steroid products manufacturing facility complying with the current Good Manufacturing Practice (cGMP) of WHO, US FDA & UK MHRA starts operation.
Company Logo:
Fig 1: Square toiletries Ltd company Logo
1.3 Company Vision:
We attempt to understand the unique needs of the consumer and translate that needs into products which satisfies them in the form of quality products, high level of service and affordable price range in a unique way.
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1.4 Company Mission:
To treasure consumer understanding as one of our most valued assets and thereby exerting every effort to understand consumers' dynamic requirements to enable us in offering maximum satisfaction.
To offer consumer products at affordable price by strictly maintaining uncompromising stance with quality. With continuous R&D and innovation we strive to make our products complying with international quality standards.
To maintain a congenial working environment to build and develop the core asset of STL – its people. As well as to pursue for high level of employee motivation and satisfaction.
To sincerely uphold the responsibility towards the government and society with utmost ethical standards as well as make every effort for a social order devoid of malpractices, anti-environmental behaviors, unethical and corruptive dealings.
1.5 Objectives of the study:
Broad Objectives:
Broad Objective is to analysis the Marketing Mix (4 P’s) of Square Toiletries Company Ltd.
Specific Objectives:
List business portfolio of the organization and evaluate the SBU’s by BCG matrix. List product and services of the organization with different sizes and prices. Implementation of Ansoff Product-Market Expansion Grid Strategies for the company’s
relevant products. List Societal Marketing Activities. Company Philosophies for the Company’s existing Products. Finding Product Mix of the selected company (Line Length, Line Width, Line Depth) Brand Development Strategies for the company’s products. Identify the Brand Sponsorship of the company. List promotional activities carried by the company. Pricing strategy followed by the company List of the substitute products. Evaluation of the company’s close competitors in terms of marketing mix.
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1.6 Limitations of the study:
Company has not published their annual report. So we didn’t have more information about the company’s financial position, strength and weakness compared to the competitors.
Less information on internet. Communication gap. Company does not provide price information in the company website, so that we have to
collect product price from retail stores. As a result price differences of Square toiletries’ products in different parts of Bangladesh may vary.
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Chapter two
Methodology of the study
To prepare this report we have collected data from different published materials. Then we have conducted a secondary study. After that we have prepared a questionnaire and took interview one of the executive serving in the Square toiletries Ltd. We also collected data from Square dealer, retailers. A significant volume of data is collected from internet. This way we collected primary data. Thus we have used both primary and secondary report to prepare this report.
2.1 Data collection techniques:
Questionnaire:
Unstructured and open-ended Questionnaire we asked to the different people working as a dealer of Square Toiletries Ltd in the different areas of Khulna city to find information about different products of Square toiletries Ltd.
Observations:
When we visited the different retail stores that time we used our own observation to collect certain pieces of information about Square Toiletry’s product marketing strategy, new product performance as well as upcoming products.
Secondary information:
Secondary information has collected by reviewing websites, newspapers and some articles printed time to time and other relevant documents.
2.2 sources of data collection:
Primary: The primary information is gathered through internal of the employees working in Square Toiletries Ltd, retailers and dealers of Square Toiletries Ltd.
Secondary: Secondary information sources had also used to collect information.
Sources include:
Different articles, index of Square Toiletries Ltd. Visiting website of Square Toiletries Ltd.
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Chapter Three
Findings and analysis
3.1 List of the Business Portfolio (Strategic Business Units):
To make the BCG matrix of SQUARE group at first we have to know about the strategic business units of Square. SQUARE has pioneered the development of the local business in fields as diverse as Pharmaceuticals, Toiletries, Garments, Textile, Information Technology, Healthcare Products, Food products, Hospital etc.
The industries under the SQUARE group include:
Square Pharmaceuticals Ltd. is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. It was established in 1958 and converted into a public limited company in 1991. The sales turnover of SPL was more than Taka 11.46 Billion (US$ 163.71 million) with about 16.43% market share (April 2009– March 2010) having a growth rate of about 16.72%.
Square toiletries Ltd. started in 1988 as a division of Square Pharma. In 1994 square toiletries limited began its journey as a private limited company. Now it is the country leading manufacturer of international quality cosmetics and toiletries products. Some of SQUARE Group's ventures in the textile arena are: SQUARE Textiles Ltd., SQUARE Spinnings Ltd. Square Knit Fabrics Ltd., SQUARE Fashions Ltd. SQUARE Yarns Limited and RASTAS Apparels Ltd. Annual Turnover is US$ 53.58 million and annual Growth is 15.03% (2010-2011).
Square Textiles Ltd. is one of the most successful spinning units in Bangladesh is primarily engaged in manufacturing high quality 100% cotton spun knit yarn for the export oriented knit fabric and knit garments manufacturers in Bangladesh. It started its operation from 1997 and it is now considered as one of the most preferred sourcing houses for consistent and reliable knitting yarn. Annual Turnover is US$ 38.00 million (2006).
Square Spinnings Ltd. The latest addition to spinning capacity of Square to manufacture blended and specialty yarns using latest state of art spinning technology. It was established in the year 2000 with investment of US$20 million. It has 31,248 spindles with daily production capacity of 18,500kgs. Annual Turnover is US$ 18.18 million (2006).
Square consumer products Ltd. is one of the largest food processing companies in Bangladesh employing almost 2000 employees. Yearly turnover is over 1 billion
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Bangladeshi Taka. It has ISO and HACCP certification and exports its brands to over 20 countries. It is now in a position to expand its product line and thus looking for new profitable business opportunities in the food sector. Annual Turnover is US$ 47.14 million and annual Growth is 45.00% (2010).
Square Cephalosporins Ltd. Square Pharmaceuticals Ltd., is focusing on cutting edge growth in formulation segment of Cephalosporin, Kaliakoir for producing Cephalosporins.
Square Knit Fabrics Ltd. Square Knit Fabrics Ltd. uses cutting edge technology to produce world class knit fabrics. It was established in 2001. The target market is Export Oriented Readymade Garments Industry and the investment was US$ 20.00 million with production capacity of 12,000 Kgs. of Knit Fabric per day (Open width & tubular finish). Annual Turnover is US$ 26.00 million (2006).
Square Fashions Ltd. is the consummation of square’s vision of becoming a one stop destination for international buyers. It was established in the year 2001 with an investment of US$15 million and its target market is Europe and USA. Annual Turnover is US$ 41.00 million (2006).
Square InformatiX Ltd. The vacuum in the quality data connectivity within distributed offices for online systems inspired SQUARE to diversify into the information and communication technology (ICT) sector. SQUARE InformatiX Ltd. pioneered and commissioned the first of its kind VSAT Control Center with capacity to control 16,000 VSATs at Gazipur to provide the most secured, reliable and cost effective data communication within and outside the country. Apart from the communication solution, SQUARE InformatiX Ltd. also have long experiences in providing complex network solution, deployment of integrated Enterprise Resource Planning system and provider of Corporate Internet Services.
Square Hospitals Ltd. a concern of Square Group is a 300-bed tertiary care hospital. The hospital is an affiliate partner of Methodist Healthcare, Memphis, Tennessee, USA, Sing Health, Singapore, Bangkok Hospital Medical Centre, Thailand and Christian Medical College, Vellore, India. The main hospital building is 18 storied tall and is approximately 450,000 sq.ft. The second building (ASTRAS) is located across the street and is 16 storied with 136,000 sq.ft. Both facilities are constructed in accordance with the US Fire and Building safety standards.
Square Agro Development and Processing Ltd. SQUARE has setup a plant tissue culture laboratory to develop agricultural/agro processing sector in the country and is
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committed to bring improved quality planting materials and year round production through AgriBiotech. Well equipped around 4000 square feet tissue culture laboratory is situated at Uttara, a convenient location, having careful designing and planning, facilitated to produce 10,00000 seedlings per year.
Square HERBAL & NUTRACEUTICALS LTD. is an endeavor of SQUARE Group that has been evolved to ensure the availability of modern Herbal Medicines to the people of this country.
3.2 BCG Matrix: The Boston Consulting Group Approach. Using the now-classic Boston Consulting Group (BCG) approach, a company classifies all its SBUs according to the growth-share matrix, as shown in Figure. On the vertical axis, market growth rate provides a measure of market attractiveness. On the horizontal axis, relative market share serves as a measure of company strength in the market. The growth-share matrix defines four types of SBUs.
1. Stars. Stars are high-growth, high-share businesses or products. They often need heavy investments to finance their rapid growth. Eventually their growth will slow down, and they will turn into cash cows.
2. Cash Cows. Cash cows are low-growth, high-share businesses or products. These established and successful SBUs need less investment to hold their market share. Thus, they produce a lot of the cash that the company uses to pay its bills and support other SBUs that need investment.
3. Question Marks. Question marks are low-share business units in high-growth markets. They require a lot of cash to hold their share, let alone increase it. Management has to think hard about which question marks it should try to build into stars and which should be phased out.
4. Dogs. Dogs are low-growth, low-share businesses and products. They may generate enough cash to maintain themselves but do not promise to be large sources of cash.
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Fig 2: BCG Matrix
Square toiletries Ltd have a high share market and it is a high growth business. So that it falls in the Star category.
3.3 MARKETING MIX
Marketing Mix is the set of controllable tactical marketing tools the firm blends to produce the response it wants in the target market. The marketing mix consists of everything the firm can do to influence the demand for its product. The many possibilities can be collected into four groups of variables known as the “four Ps”: product, price, place, promotion. Figure shows the particular marketing tools under each p.
A product is anything that can be offered to a market and that is potentially valued by a target market for the benefit or satisfactions it provides, including objects, services, organization, places, people and ideas.
SQUARE Toiletries Ltd. started its journey in 1988 with a single product as a separate division of SQUARE Pharmaceuticals. In 1994, SQUARE Toiletries Ltd. becomes a Private Limited Company. At present, STL is the country's leading manufacturer of international quality cosmetics and toiletries with over 40 products. The products are-
1. Jui Coconut Oil
2. Jui Hair Care Oil
3. Meril Baby Lotion
4. Meril Baby Shampoo
5. Meril Baby Powder
6. Meril Baby Gel Toothpaste
7. Meril Baby Olive Oil
8. Meril Petroleum Jelly
9. Meril Lip Gel
10. Meril Olive Oil
11. Meril Glycerin
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MARKETING MIX
Product Product means the goods and services combination the company effect that offers to the target market for attention, acquisition, use, or consumption that might satisfy a want or need.
Price Price is the amount of money charged for a product or service, or the sum of the values that consumers exchange for the benefits of having or using the product or service.
Place Place includes company activities that make the product available to target consumers.
Promotion Promotion means activities that communicate the merits of the product and persuade target customer to buy it.
12. Meril Splash Beauty Soap
13. Meril Splash Xtra Fresh
14. Meril Revive Talcum Powder
15. Meril Revive Moisturizing Lotion
16. Meril Revive Moisturizing Cream
17. Saaf Dish washing Liquid
18. Saaf Dish washing Powder
19. Select Plus shampoo
20. Senora Regular Sanitary Napkin
21. Senora Confidence Sanitary Napkin
22. Skakti Liquid Toilet Cleaner23. Spring Air Freshener24. White Plus Toothpaste
25. White Plus Herbal Toothpaste
26. Xpel mosquito aerosols
27. Zerocal tablet
28. Zerocal sachet
29. Kool Shaving Foam
30. Kool Shaving Cream
31. Kool Aftershave Gel
32. Kool Aftershave Lotion
33. Kool Deodorant Body Spray
34. Madina attar
35. Magic Toothpowder
36. Magic Advanced Ghamachi Powder
37. Freshgel Greenmint Toothpaste
38. Freshgel Coolmint Toothpaste
39. Chaka Washing Powder
40. Chaka Ball Soap
41. Chamak fabric whitener
42. Sepnil Hand Wash
43. Sepnil Hand Sanitizer
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Table 2: Different Types of Product and product Sizes:
Brand name Products name Products size
Magic Magic Tooth Powder 100gm
Shakti Shakti Toilet Cleaner 500ml
Chamak Chamak Fabric Whitener 100ml
50ml
Xpel Aerosol Xpel Aerosol Insects Killer 250ml
500ml
Chaka Chaka Ball Soap 120gm
Chaka Washing Powder 1kg
Jui Jui Coconut oil Tin (400ml)
Tin (200ml)
Bottle (100ml)
Bottle (200ml)
Bottle (400ml)
Jui Hair oil 200ml
Sepnil Sepnil Hand Wash 220ml
White Plus White Plus Toothpaste 100gm
45gm
White Plus Herbal Toothpaste 150gm
70gm
Freshgel Freshgel Greenmint Toothpaste 50gm
100gm
150gm
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Freshgel coolmint Toothpaste 150gm
Senora Senora Regular 10 piece
15 piece
Senora Confidence 5 piece
10 piece
Saaf Saaf Dishwashing Liquid 500ml
Saaf Dishwashing Powder 500gm
750gm
Kool Kool Aftershave gel 50gm
Kool Aftershave Lotion 50ml
100ml
Kool shaving cream(Frosty) 50gm
Kool shaving cream(Monsoon) 50gm
Kool boby spray(blue) 150 ml
Kool boby spray(scent) 150 ml
Kool boby spray(citrus) 150 ml
Meril
Meril Revive 100gm
200gm
Meril Splash Beauty Soap 75gm
100gm
Meril Splash Xtra Soap 100gm
Meril Olive oil 150ml
Meril Glycerin 120ml
Meril Moisturizing Lotion 100ml
200ml
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Meril Moisturizing Cream 50gm
Meril Baby lotion 50gm
100gm
200gm
Meril Baby shampoo 110ml
Meril Baby olive oil 110ml
Meril Baby Soap 100gm
Madina Madina attar 3 ml
Spring Spring air freshener(orange) 300ml
Spring air freshener(lemon) 300mlSpring air freshener(floral) 300ml
Select plus Select plus shampoo 75ml
Zerocal Zerocal(tablet) 100 tablets
Zerocal(sachet) 25 pieces
Zerocal(sachet) 25 pieces
3.5 Implementation of Ansoff Product-Market Expansion Grid:
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Fig 4: Ansoff Growth Vector Matrix
There are four Product-Market Expansion Grid Strategies.
• Market penetration
• Market development
• Product development
• Diversification
Market penetration:
A strategy for company growth by increasing sales of current products to current market segments without changing the product. Square Toiletries Company does not follow this product market expansion grid
Product development:
A strategy for company growth by offering new or modified products to current market segments. Square Toiletries Company follows this product market expansion grid. For example: Meril Splash Beauty etc.
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Market development:
A strategy for company growth by identifying and developing new market segments for current company products. Square Toiletries Company follows this products market expansion grid. Square Toiletries Company starts business in the country. Now they are exporting their products outside the country.
Diversification:
A strategy for company growth through starting up or acquiring businesses outside the company’s current products and current markets. Square Toiletries Company follows this products market expansion grid. When they start business then they produce few products such as Jui Coconut Oil, Chaka Ball Soap etc and sold it in the country. Now they are producing many products and selling in the country and exporting outside the country.
Societal Marketing Activities:
Square Toiletries Limited believes that it is their obligation to work for the welfare of society. In spite of being a commercial organization STL doesn’t always opt for profit, rather it tries to be even more focused towards the fulfillment of its commitments to society.
Employment Generation:
Employing over 1200 permanent employees ensuring their consistent welfare and security emphasis on equal employment opportunity resulting in 38% women employees and maintenance of sociable working environment which results in lowest turnover rate and a highly motivated workforce.
Investment in Bangladesh:
Square Toiletries executes all its investment within the country boundary. It exports its products but none of its production plants have been set up abroad. STL emphasizes foreign currency inflow to the country. When the country was leaning towards being flooded by offshore products, STL raised its voice and initiated movements against these marketing aggressions.
Patronizing Sports:
Square Toiletries is always committed to patronize the country’s most emotional corner -sports, especially cricket. Sponsorship of 1st Division Cricket Tournament in 1998, 1999; Meril International Cup One-Day cricket tournament among Kenya, Zimbabwe and Bangladesh in 1997 – These are some bright examples of Square’s commitment towards the development of
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cricket. In addition to the most popular games like Cricket and Football, STL always attempts to encourage less popular but promising games like Table Tennis, Badminton etc.
Patronizing Culture:
Meril-Prothom Alo Taroka Jorip – country’s most honoring & luminous event – a once –in –a year award giving program in the field of “culture and entertainment” has been being sponsored by Square Toiletries Limited for several years.
Commitment towards Underprivileged Society:
Square Toiletries gives monetary support to underprivileged society. STL gave financial aid to Naksha Training centre, where vulnerable women are vocationally trained for operating sewing machines. STL also provided rickshaw vans to unemployed people for income generation. The company extends financial aid for medical treatment to distressed people and employees. Square Toiletries also provides employment opportunity to physically handicapped persons. At present Square Toiletries is giving employment opportunity to a number of employees who are physically challenged.
Company Philosophies for the Company’s existing Products:
There are five Marketing Management Orientations-
1. The Production Concept
2. The Product Concept
3. The Selling Concept
4. The Marketing Concept
5. The Societal Marketing Concept
The Production Concept: This concept is the oldest of the concepts in business. It holds that consumers will prefer products that are widely available and inexpensive. Managers focusing on this concept concentrate on achieving high production efficiency, low costs, and mass distribution.
The Product Concept: This orientation holds that consumers will favor those products that offer the most quality, performance, or innovative features. Managers focusing on this concept concentrate on making superior products and improving them over time.
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The Selling Concept: This concept assumes that consumers typically show buying inertia or resistance and must be coaxed into buying. It also assumes that the company has a whole battery of effective selling and promotional tools to stimulate more buying.
The Marketing Concept: It holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers.
The Societal Marketing Concept: This concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors. Additionally, it holds that this all must be done in a way that preserves or enhances the consumer’s and the society’s well-being.
Square Toiletries Company uses two of this concept for their marketing.
Product Concept:
Square Toiletries Company will favor products that offer the most quality, performance, and features. Therefore the Company devotes its energy to making continuous improvements.
Marketing Concept:
They first identify needs and wants of the target markets and delivering the desired satisfactions better than competitors do. Square Toiletries Company identifies Bangladeshi people needs and wants and produces Meril olive oil, Meril Lipgel etc
Table 3: Product Mix of the Square group Ltd
Product Width Line Length Line Depth
Cosmetics Protective care Meril Petrolium gelly
Meril Lipgel
Meril Glycerine
oil Jui Coconut Oil
Jui Hair Care Oil
Meril Olive Oil
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Meril Baby Olive Oil
Powder Meril Revive Talcum Powder
Magic Advanced Ghamachi Powder
Lotion Meril Baby Lotion
Meril Revive Moisturizing LotionKool After Shave Lotion
washing Liquid Saaf Dishwashing LiquidSepnil Hand Wash
Sepnil Hand Sanitizer
Beauty Soap Meril Splash Beauty Soap
Whitener Chamak Fabric Whitener
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Toothpaste Freshgel Greenmint Toothpaste
Coolmint Toothpaste
White Plus White Plus
White Plus herbal
Meril Baby Gel Tooth Paste
Toothpowder Magic Tooth Powder
Toilet Cleaner Shakti Toilet Cleaner
Spray Spring Air Freshener
Kool Deodorant Body Spray
Health Zerocal tablet
Zerocal sachet
Senora Sanitary Napkin
Senora Confidence Sanitary Napkin
3.6 Branding
A brand is a name or symbol that is commonly known to identify a company or its products and separate them from the competitors [28].
A well-known brand is generally regarded as one that people will recognize, often even if they do not know about the company or its products/services. These are usually the businesses’ name or the name of a product, although it can also include the name of a feature or style of a product.
The overall ‘branding’ of a company or product can also stretch to a logo, symbol, or even design features (e.g. regularly used colors or layouts, such as red and white for Coca Cola.) that identify the company or its products/services.
Square Toiletries Ltd Brands: Sqaure Toiletries Ltd currently holds 20 different brands and around 43 products are produced under these 20 brands. The brands are
Application of different Brand Development Strategies:
Existing New
Line extension Brand Extension
Multi Brand New Brand
Table 5: Application of different Brand Development Strategies:
3.7 Existing brand development
Line Extension occurs when a company extends existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category. For Example:
Multi-brands are additional brands in the same category. Company is offering same products or services to the existing market but in a new name. Multi-branding offers a way to establish different features and appeal to different buying motives. It allows a company to lock up more reseller shelf space. For Example:
ToothpasteFreshgelWhite PlusMagic toothpowder
New Brands are used when existing brands are inappropriate for new products in new product categories or markets. The products are new to the market. For Example:
Air freshener Spring
Washing soap Chamak fabric whitener
Toilet cleaner Shakti Toilet cleaner
3.8 Identifying the Brand Sponsorship:
Manufacturer Brand: Branding done by the manufacturer, under its own brand name.
Private Brand: The retailer can manufacture goods under its own label, re-brand private label goods, or outsource manufacture of store-brand items to multiple third parties - often the same manufacturers that produce brand-labeled goods.
Licensed Brand: Some companies license names or symbols previously created by other manufactures.
Co-Brand: Co-branding occurs when two established brand names of different companies are used on the same product.
Square Toiletries produce their product on their own factory. So it’s a manufacturer brand.
Push strategy involves pushing the product to the consumers by inducing channel members to carry the product and promote it to final consumers.
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Pull strategy is when the producer directs its marketing activities toward the final consumers to induce them to buy the product and create demand from channel members.
Square Toiletries Company followed by push strategies.
3.9 Packaging
Packaging is the science, art, and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of design, evaluation, and production of packages. Packaging can be described as a coordinated system of preparing goods for transport, warehousing, logistics, sale, and end use. Packaging contains, protects, preserves, transports, informs, and sells [29].
Meril Splash Beauty Soap Rectangular paper wrapping having four different colors. The four colors are magenta, orange, green, white.
Meril Petroleum jelly Rounded plastic container having white color
Meril Olive Oil Tin, bottle
Meril Lip gel Plastic tube having a small hole on the top of the tube. The container is designed in such a way that it can be easily rubbed on the leap.
Meril Glycerin Plastic bottle having blue and white mixed color
Sepnil Hand Wash plastic container having a pressable head
Sepnil Hand Sanitizer plastic containerMadina Attar Small thick Glass container
Select plus shampoo Plastic container
Spring air freshener Plastic container
Labeling: Package labeling or labeling is any written, electronic, or graphic communications on the packaging or on a separate but associated label.
Square toiletries products are organized with different weights and ingredients. These weights and ingredients are displayed on every product of Square toiletries Ltd. Price information of different weight products are found within the product container. Every product has a
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corresponding logo and manufacturing and expiration date on the container. This effective labeling system has created a greater value for square consumer and thus established itself one of the best consumer products manufacturer in Bangladesh.
3.10 Pricing Mix of Square Toiletries Ltd:
The amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service is called as price.
Square Toiletries Ltd company follows cost based pricing i.e. product driven. The company designs what it considers to be good product, adds up the costs of making the product, and sets a price that covers costs as well as the target profit.
Cost based pricing
Fig 5: Cost Based Pricing
Square Toiletries Ltd follows Market penetration pricing when innovating or inventing a new product in the marketplace.
Market penetration pricing means setting a low price for a new product to attract a large number of buyers and a large market share.
The strategy for setting a product’s price often has to be changed when the product is part of a product mix. In this case, the firm looks for a set of prices that maximizes its profits on the total product mix. Pricing is difficult because the various products have related demand and costs and face different degrees of competition. The different product mix pricing strategies are
Product line pricing: Optional product pricing, Captive product pricing, By-product pricing, and
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Design a good product
Determine product costs
Set price based on cost
Convince buyers of product’s value
Product bundle pricing
Product line pricing: Setting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors’ prices.
Optional product pricing: The pricing of optional or accessory products along with a main product.
Captive product pricing: Setting a price for products that must be used along with a main product, such as blades for a razor and games for a videogame console.
By-product pricing: Setting a price for by-products to make the main product’s price more competitive.
Product bundle pricing: Combining several products and offering the bundle at a reduced price.
Square toiletries support Product line pricing method
Table 9: Product mix pricing of Square Toiletries Ltd
Brand name Products name Products size Products’ price (TK)
3.11 Distribution (Place Mix) Strategy of Square Toiletries Ltd:
Importance of Distribution in Square Toiletries:
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Square Toiletries uses its own distribution channels, which are distinguishable from others. When initially selecting a channel of distribution for a new product, the pricing strategy and desired positioning of the product may influence the choice of the channel. Once the channel of distribution design is complete and responsibilities for performing the various marketing functions are assigned, these decisions establish guidelines for pricing, advertising and personal selling strategies. Square Toiletries is very much efficient in establishing these types of strategies. It helps them to maintain an exclusive distribution channel to serve the end-users
Companies can design their distribution channels to make products and services available to customers in different ways. Each layer of marketing intermediaries that performs some work in bringing the product and its ownership closer to the final buyer is a channel level. Because both the producer and the final consumer perform some work, they are part of every channel.
Direct marketing channel: A marketing channel that has no intermediary levels, the company sells directly to consumers.
Indirect marketing channel: Channel containing one or more intermediary levels. This intermediary can be wholesaler or retailer.
Square toiletries products are distributed by their own marketing employers who go to the retailer’s shop and tell them about their products which are manufactured and are ready to sell. The retailers then order specific amount of goods that Square Toiletries Company is willing to sell at maximum retail price. Then within two days the goods are delivered by Square employers to the retailer’s door step.
So we find that Square Toiletries follow Indirect marketing channel.
Fig 5: Square toiletries marketing channel
3.12 Promotional Mix of Square Toiletries Ltd
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Producer(Square Toiletries Ltd)
Retailer
Consumer
A company’s total promotion mix—also called its marketing communications mix—consists of the specific blend of advertising, public relations, personal selling, sales promo-tion, and direct-marketing tools that the company uses to persuasively communicatecustomer value and builds customer relationships. The five major promotion tools are de-fined as follows:
Advertising: Any paid form of non personal presentation and promotion of ideas, goods, or services by an identified sponsor.
Sales promotion: Short-term incentives to encourage the purchase or sale of a product or service.
Personal selling: Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships.
Public relations: Building good relations with the company’s various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.
Direct marketing: Direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.
Each category involves specific promotional tools used to communicate with customers. For example, advertising includes broadcast, print, Internet, outdoor, and other forms. Sales promotion includes discounts, coupons, displays, and demonstrations.
Personal selling includes sales presentations, trade shows, and incentive programs. Public relations (PR) include press releases, sponsorships, special events, and Web pages. And direct marketing includes catalogs, telephone marketing, kiosks, the Internet, mobile marketing, and more.
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Fig 7: Promotional Mix
Square toiletries Advertising tools:
Square toiletries use different types of media to acquire different types of objectives. To select media depend on the target audience, product characteristics, message characteristics and cost. The advertising tools that Square toiletries use as a media to communicate with the existing and potential customers are:
Newspapers
Newspaper covers all sorts of information about Square Toiletries’ product. It mainly covers the informative and reminder advertising.
Target audience Message characteristics
Duration Cost
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The Promotional Mix
Direct Markating
interactive/Internet Markating
sales Promotion
publicity/ Public Relation
personal selling
Literate people. Flexibility, high believability
Short life Lower
Television
Target audience Message characteristics
Duration Cost
All types of people but teenagers influences more
High attention, high reach, high clutter
Long life High
Radio
Within a lower cost, Square toiletries broadcast their massage through radio. It is a better way for persuasive advertisement.
Target audience Message characteristics
Duration Cost
All types of people but teenagers influences more
Audio presentation only but usage mass and cover high geographical area.
Relatively short life Lower
Magazines
An effective media that Square toiletries uses as a promotional tool to achieve the customer’s awareness about Square toiletries and its product. It is an effective media for informative and persuasive advertisement.
Target audience Message characteristics
Duration Cost
Middle and Upper-income audience.
High-quality reproduction, credibility and prestige.
long life medium
Internet
Internet performs effective promotional tools for Square toiletries advertising. It gathers all sort of information about Square toiletries.
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Target audience Message characteristics
Duration Cost
Internet browser High selectivity, interactive possibilities
Long time ,still update Relatively low cost
Square Toiletries Sales Promotion
Meril Splash & Persona Inspiring Freshness Meril Revive Busy Der Easy Show Meril Night Meril Prothom Alo Puroshkar Jui Pencil’e Aka Juri Meril Night White Plus School Dental Health Program Zerocal world health day rally Meril Baby Adore Gora Bhobishshot
3.13 Evaluation of the company’s close competitors in terms of marketing mix:
Square Toiletries Products’ close competitor is Unilever since they are also manufacturing toiletries product such as Lux, Rexona, Vaseline, sunsilk etc. Their pricing strategy is also cost based pricing.
Square Toiletries Unilever
Meril Splash Beauty Soap LUX
Meril Revive Moisturizing Lotion Vaseline Select Plus Ketoconazole Shampoo Sunsilk
White Plus Close Up
Kool Deodorant Body Spray Rexona
Table 10: Competitor of Square toiletries
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Chapter Four
Suggestions:
From the research on Square Toiletries Company, our group has come up with some recommendations. These recommendations are given below-
1) Besides Square Toiletries Company should maintain a strategy to keep price in level so that people belonging from lower middle class can afford these products.
2) Some transporting vehicles should be bought to minimize the expenses. Although Square Toiletries Company has transporting vehicles but they are not enough. Most often they rely on hire vehicles. That is really very expensive for the company. So if this company can increase their vehicles, they will reduce expense in the long run.
3) We all know that political factors are an important macro environment that affects the micro environment factors thus with resulting a huge problem for the company. Political situation of Bangladesh is not good enough. Besides some internal problems (hartal, strick, curfew etc.) are also exist almost in every companies. So Square Group Company should take some steps to overcome these types of situations.
4) Square Toiletries Company has many competitors in the market. But compared to all of them Square Toiletries Company has good market share. But in present business world a little mistake from a company can be a large strength for its competitors. So Square Toiletries Company should think about it. In the same time this company needs to come up with some innovative ideas identifies the company from its competitors.
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Chapter Five
Conclusion:
Finally we would like to say that Square is a concept which refers to change. Square Toiletries is really contributing a lot to the development of our country. Along with its products, this company serves our country in many ways like creating job facility, providing money to farmers, providing money to medical sector etc. Our Group has worked on many important tools of Square Toiletries Company. According to our research, we can say that Square is the most leading company in this country. If we compare Square Toiletries to its competitors, we can see that Square Toiletries holds almost half of the market share. Besides Square Toiletries Company has been able to be distribute their products for many countries. But that does not say that task of Square Toiletries Company is over. They have many more things to do. If proper steps can be taken, one day they will find Square to be the worldwide company.
