Buyer Behavior of Plastic Commodities in Bangladesh
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Bengal Plastic has already proven themselves to be a smart player in the Plastic market in Bangladesh, now that they do not hold the market leader position. They want to play the role of market CHALLENGER, cross RFL Plastics in terms of Brand Image and Sales by 3 years. They have come to our agency for a one year 360 degree market activation/reactivation plan. Co-makers: Plabon, Sufian, and Sunny
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Buyer Behavior of Plastic Commodities in Bangladesh
- 2. • Cross RFL Plastics in terms of Brand Image and Sales by 3 years. • A one year 360 degree market activation/reactivation plan. • Will focus on adding value/new features/lower prices as a tool to gain share • Will constantly aim at identifying and exploiting weaknesses in leaders position Objective
- 3. Consumption and Manufacturing Based Information Market Size Tk. 7,000 Crore (US $950 million) Per Capita Plastic Consumption About 5 kg/Year Direct Export Earning Tk. 500 Crore (US $ 69 million) Manufacturing Units About 3,000 small, medium and large plastic manufacturing units operate across the country Recycling Sector There are 300 small units in Dhaka City which recycle about 138 tonnes/day Growth 20 percent per annum during Employment Half a million workers are employed in the sector
- 4. Plastic Industry Consumer Insight
- 5. Plastic Industry Seller Insight
- 6. Types of Consumer Buying Situations Habitual Variety-Seeking Complex Buying
- 7. • RFL has 45% cumulative share consisting of Furniture, Tools, Commodities, Kitchenware.Market Leader • Bengal group (30%). We aim to pose a threat to Pran RFL through direct Frontal Attack.Market Challenger • Tupperware (international), Tanin, Hamko, Esquire aimed at price sensitive less loyal audience.Market Follower • N-Poly, Gazi (Kids), Talukdar, Shopon (doors) and local plastics.Market Nicher Market Share Analysis
- 8. • 1200+ types of Plastic products • Most sold products: Plate, Mug, Bowl, Doors, Tray, Spoons, Jug, Sofa, Wardrobe, Chair, Water Bottle. • Current promotional strategies: Happy hour, Trade fair, Free Offers, Product Visibility, ATL and BTL, Bangkok Tour. • Exported to: 124 countries RFL: Market Leader Analysis
- 10. • 400+ types of Plastic products • Most sold products: Bucket, Mug, Jug, Tool, Basket, Kitchen rack. • Current promotional strategies: Product Package, Trade fair, Cash back, Free Offers, Product Visibility, ATL and BTL. • Exported to: China, America, Australia mainly. Bengal Plastic overview
- 12. Stages in the Buying Process Need Recognition • প্লাস্টিকপণ্যসহজেনষ্ট হয়না। • অস্টিস্টিরসামজনসহজে পস্টরজেশন Search for Information • দাজমসস্তাআর দীর্ঘস্থায়ী Product Evaluation • দাম হাজিরনাগাজে • আকর্ঘণ্ীয়রংও নকশার Product Choice and Purchase • নিু নমজেেদদজে পছন্দহজয়দগে।িাই স্টকজনস্টনোম। Postpurchase Use and Evaluation • দীর্ঘস্থায়ী
- 13. Information search process for plastic product customers
- 14. Information search process for plastic product customers Brand choice + purchase decision made : Information search terminated Brand choice not made/purchase decision made : Information search terminated Brand choice + purchase decision not made : Information search continues Does the product found give exactly what the customer is seeking? Criteria to be an effective solution 3 Most Prevalent Evaluative Criteria for Plastic Products: Convenience, Price, and Durability
- 15. Influencing In-Store Purchase Behaviour A staggering 70% of all purchase decisions for convenient products are made In-Store (Source: *1995 POPAI Consumer Buying Habits Study) Bengal’s area of focus to influence purchase decisions Store Atmosphere -Layout, Space, Signs, POP Displays, Décor Style Individual Characteristics - Sales Personnel Training -Social Class -Consumer Social Orientation
- 16. Post-purchase processes and Customer satisfaction How: • Providing superior value to customers: Understand customer perception and expectation. • Using CRM: A phone call to customers purchasing BDT. 1000+ products within one month of purchase. • Relationship Marketing
- 17. Situational Influences Affecting Consumer Purchasing Decision Of plastic The Communication Situation. The Usage Situation. The Disposition Situation.
- 19. Plastic : low involvement purchase decision Problem Recognition Information Search Purchase Post Purchase Types Of Consumer Purchase Decision Low involvement High Involvement
- 20. Aesthetic Feature Price Peer Influence Impulse Buy Brand 20 40 60 20 40 10 Ranking the reason of Purchase 0 10 20 30 40 50 60 Aesthetic Feature Price Peer Pressure Impulse Brand
- 21. 0 10 20 30 40 50 TVC WOM Free POP Offers Billboard RDC Newspaper Magazine internet 20 10 40 30 40 20 10 20 20 30 Ranking the Promotion Inflection Points
- 22. • Frontal: RFL introduced Water Filter, so, Bengal introduces another. • Flank: RFL’s has no package, target their weakness. • Encircle: Every aspect of Social Media. • Bypass: New product and customer of Bengal’s own. • Guerrilla: Extensive low cost ambient marketing. Which attacking strategy should we undertake? When?
- 23. What consumer wants What competitor (RFL) does What company (Bengal) will do Strength Pleasure of Shopping Astha Shoto Bhag Variety Best Buy and Exclusive New Product names Price Happy Hour Packages Aesthetics Colorful Elegant & Colorful Consumer Vs Competitor Vs Company
- 24. 3 Year Marketing Campaign
- 25. Keep the core message unchanged. HIGHLIGHT IT !
- 26. 1. Why should I buy? 2. What should I buy? 3. Where should I buy? 4. What is a fair price? 5. When should I buy? Buyer Resolution Theory (5W) Help Customer Answer the 5W
- 27. Answer 5W though Social media Marketing
- 28. • 100% • Core message is visible. • The celebrity has records of 100s • But not Bangladeshi !! Some major analysis is required
- 29. Some major analysis is required • A successful communication • Without the CORE MESSAGE !!
- 30. •Competitor has already occupied the name ! Near to zero SEO Optimization
- 31. Self Destructive message went VIRAL !!!
- 32. Budget Year 1 Year 2 Year 3 BDT 65,00,000.00 BDT 85,00,000.00 BDT 80,00,000.00 TOTAL BDT 2,30,00,000.00
- 33. THANK YOU : Group 9 :
Editor's Notes
- Bengal Plastic has already proven themselves to be a smart player in the Plastic market in Bangladesh, now that they do not hold the market leader position. They want to play the role of market CHALLENGER, cross RFL Plastics in terms of Brand Image and Sales by 3 years. They have come to our agency for a one year 360 degree market activation/reactivation plan.
- The amount of time consumers devote to a purchase decision can vary greatly depending on the cost of the product, familiarity with the product, and the importance of the item to the consumer. Few buyers invest much effort in selecting a tube of toothpaste, but the purchase of a new automobile or a home will involve extensive decision making. Consumer buying situations can fall into one of three categories depending on the degree of buyer involvement. Habitual buying decisions usually require very little consumer involvement and brand differences are usually insignificant. For frequently purchased, low-cost items such as shampoo, copy paper, or laundry detergent, consumer involvement in the decision-making process is very low. Variety-seeking buying decisions are characterized by low customer involvement, but important perceived brand differences. Complex buying decisions are characterized by a high degree of involvement by the consumer. Consumers are likely to be highly involved when the product is expensive, purchased infrequently, and highly self-expressive.
- In the age of information, salespeople are faced with customers who have access to immense amounts of information including competing products and price points. This means they may not rely upon the salesperson in the same ways they once did.
- The buyer resolution theory is sometimes referred to as the 5 W’s Theory. It focuses attention on questions the customer may need answers to before making a purchase. An absence of an answer to any of these will likely result in a customer objection.