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Marketing strategy of conion rice pot

Preparing food, Marketing Plan

Executive Summary

Conion rice cooker is actually a newly introduced rice cooker brand which can be introduced on the market in ninth August 2017. This rice cooker is made in China and tiawan. Best Electronics Limited is definitely the distributor of those rice cookers. This particular model of rice oven (Conion ALWAYS BE 183A2BS) has a price of BDT two, 104 in Best Electronics you can buy this at BDT 954 (discounted price) advertising price.

The capacity in the Conion BECOME 183A2BS grain cooker is usually 1 . almost 8 Liters, and a power of 700 watts is being used by this grain cooker. This kind of model of grain cooker includes a very attractive Silvery-metal colored body system with patterns engraved on it. Its feature also includes Computerized Temperature Control System, Non-Stick Coating Internal Pot and Sealed Pressure Structure. Best Electronics is providing 1 year replacement unit warranty and 6 months of service warranty.

About Conion

At Conion, we believe that please lies in improving your home further than one’s creativeness. We make use of the latest RD techniques to assure advanced and intuitive technology in our items that match your changing lifestyle demands. With unrivaled exclusive improvements like AQT A+ Technology, EyeCare, Magic Air Technology, 3D Laurel Wash, Dyna+Fresh Technology, Ultra High Speed (UHS) Technology, Conion is strongly dedicated towards continuously producing innovative solutions to provide the finest and modern solution to your home appliances and electrical requires.

Everyone should be open to our associated with continuous improvement.

Our work is to create the best quality products and supply them in greatest price to the market.

Our Eye-sight is to be the leading home machine distributor make of Bangladesh.

Our Target is to serve to each and every category people of Bangladesh through our goods at least price. Our company is here for making people’s everyday life simpler and easier.

Industry description

A target market simply defines the consumers or groups most likely to purchase a particular products or services. Various customer characteristics are accustomed to define a target market, which include demographics and psychographics, type and frequency of use, merchandise benefits and geographic location.

So for this particular product we certainly have decided to target three customer bases after some considerable market research.

Gender

Era Relationship Status

Female

dua puluh enam to 40 Married

Woman

19 to 25 One

Male twenty to 26 Single

Product Review

In electronic trade, product reviews are being used on stores online to give clients an opportunity to level and comment on products they have purchased, right on the product site. Other consumers can read these kinds of when making a selection decision.

Here we will focus on the consumption review of our particular merchandise: Conion Grain Cooker BECOME 183A2BS. This kind of rice cooker is more cost-effective than other competitive products in the market but it will do a really great work in terms of food preparation some things like, rice, khichdi, meat products, etc .

It has the feature of turning off automatically after a selected time when the food is usually cooked. And all these things you are getting within a budget selling price.

Pertaining to the ease of taking buying decision, customers also can visit the website to see the

Report on the customers. A lot of them are given under.

Competitive review

With regards to a competition, Perspective from Pran RFL launched another merchandise with the same specification. Even though both Conion and Vision’s Rice cooker does not fluctuate a lot with regards to quality nevertheless the in term of cost Conion rice cooker will be cheaper. Although Conion is usually giving a similar features but they are doing it for a much low cost and using a one year warranty.

SWOT Examination

Power

  • The build quality plus the look on this rice cookers are high quality. You can feel the weight of the quality product at your first sight. From this price point it is difficult to find a product like this available in the market.
  • It can not just a rice cooker, you are able to cook fulfill, pudding, khichdi, brownies, truffles, etc .
  • This oven consumes just 700 Watt of electric power which is really low in terms of additional competitor designs of the market.

Weak point

  • Considering that the cooker only introduced on the market, so it has truly low acceptance in compare of other brands. So it might be a challenge to sale the merchandise initially
  • This cannot be utilized without electric power. So in case of load losing, consumer are not able to make.

Opportunities

  • Conion is offering the most low price for the purchasers of rice cookers. So that it can strike the highest selling product category once it is marketed to the focus on customers.
  • The company is additionally providing a six months free service warranty and 1 year of product substitute warranty. Therefore it will be a solid advantage for the buyers.
  • Since Bestelectronics are the distributor of this items, they can assure 24 hours delivery in any part of our nation.

Threats

  • Increase quantity of competitors are a threat but since we are offering the best and affordable price it also can turn into a strength because customers can now compare straight with all the other brands in the market.
  • The biggest threat is that more than use of the product can raise the electricity costs but still it will probably be lower than the other brands since it is the most electricity efficient pot.

Objectives

  • Increase product sales ” To maximize the profit the corporation have to raise the sales of our product
  • Build brand understanding ” The organization have to build the brand understanding to let persons know that this brand exists
  • Expand market share ” To rule and control the market with our product we need to introduce new model of rice cookers with an increase of and better features
  • Kick off new products To sustain in the market we need to kick off new product with new features and styles along or perhaps with the competitive brands
  • Boost customer human relationships ” Need to push out relationship with all the customers keeping in touch with them even following selling the product, it can be done by giving them promo codes or perhaps discounts issues products
  • Boost profit ” A company cannot sustain on the market without a income, so it must increase their markets volume and get involved in promotional activity only after calculating the money limit

Issue

  • Competition People in Bangladesh are gradually switching their lifestyle to the automated program. So they have started using many digital products to make their lifestyle easier and simpler. Focusing on these things many businesses started to improvise their merchandise chains with increased and more electronic home appliances. One of these is Rice Cooker. In our Bangladesh industry we can see plenty of rice pot brand has started to establish, including Vision, Philips, Comet, Pride, etc . In like manner survive this kind of rough competition Conion ought to focus more on its price and promotional actions.
  • Achievability ” Is it doesn’t realism about achievability must temper the introduction of a marketing prepare. The amount of money a business person puts into a marketing spending budget will determine the opportunity of a marketing plan, in addition to the number of promoting pieces and communication programs employed to distribute those marketing pieces. Environmental elements impact the general effectiveness of promoting efforts. The state of the economy, and competitor businesses and the power of competition brands almost all influence the achievability of your marketing plan. A business owner are not able to expect promoting to make his businesses dominating in tightly contested market segments, where mere parity or even second place marks a massive achievement.

Marketing strategy

Item Strategy:

Not only Conion tends to retain their cost low but they also focuses on keeping their merchandise quality excessive and thus this makes them an ideal contender from this market. They use Aluminum because of their inner-bowl which can be cheaper than stainless steel and in addition is a very very good thermal caudillo. They use a brand new plastic material instead of metal intended for the cooker’s body which makes them light-weighted and inexpensive however durable intended for long work with. BE 183A2BS has a slim stainless steel exterior, wrapping their plastic body, with amazing designs etched in it which makes it more desirable. In short Conion is providing a long-lasting item with in a very low price.

Price Approach:

Conion provides a superior quality specialty promoting product customized to it is clients’ demands. The value of this device and services is reflected in its premium price. Conion should be hypersensitive to the value elasticity of its merchandise and total consumer require.

Distribution Approach:

Conion uses roundabout marketing to distribute their particular product. As its product is compact, lightweight, and non-perishable it may ship to multiple nation with right packing. Finest Electronics is the direct supplier or merchant of Conion rice cookers. Best electronics is offering very flexible ways to buy their particular product, i actually. e., either you can use their very own online store or you can go to their particular showroom which is situated in the majority of part of the metropolis.

Marketing connection strategy:

To discover the potential consumers, campaign should be utilized to build the item awareness to customers to get brand status, the simplest way is usually advertising. Advertising is a speedy and intensive way to appeal to customers. Since Rice oven is necessary for a lifetime, the promoting could present a family seated together and sharing the rice during dinner, it might display the warm relationship and uncover a positive attitude. And Ideal Electronics is definitely taking all those measurable making sure Conion BE 183A2BS is well known towards the market simply by launching promotional campaigns. They are not only launching marketing campaigns but in reality have a discount going on, helping to make this Conion rice cooker by far the cheapest priced grain cooker in the market right now. Despite the fact Best Electronics has many retailers all over Bangladesh, they also have online site, so that customers can purchase the product straight from them.

ATL ” Above the Series Marketing

This really is mass media advertising which is not targeted a particular audience but to reach all category. Such as a TVC which is showed in Television set to reach the utmost audience.

Also, advertisements, radio, posters there are most example of ATL marketing.

BTL ” Below the collection Marketing

This really is a strategy of 1 to one or personal interaction. It can a booth looking at a company or school in which we can find our target customers. It is highly be based upon extensive focus on marketing. Likewise, organizing a conference to promote and communicate with the prospective customers to promote the product can be an example of BTL Marketing.

TTL ” Through the collection Marketing

This plan integrate BTL and ALT marketing. Likewise, known as social websites promotion. This revolutionary change has arrived recently when net got our daily need. This plan is more like content marketing where a visual content is built to promote through social media to communicate with the point audience.

Conclusion

Grain cooker happen to be consumer merchandise, which can be intended for long time, so after a period of increase in product demand, it can surely knowledge a decreasing. So in this situation, supervisor should change the strategy to entice new users to the requirements of old users intended for replacing fresh rice pot. As for technology, it could switch threats to opportunities, Conion should maintain your update of the product, when the demand for item starts to fall season. Besides, superb customer service is a good way to keep the existing buyers and charm potential customers. Consequently , to consistently achieve success and remain it should focus on the aspects mentioned previously.

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