Brand Management

Confectionary Goods: Study on PRAN

Submitted To

Dr. Serajul Haque

Professor,

IUB

Submitted By

Shahriar Taha

1038021

MKT 543 E

Date of Submission: March 30, 2011

Executive Summary

Marketing mix is a combination of marketing tools that are used to satisfy customers and company objectives. Consumers often call the marketing mix "the offering." This offer is controlled by the following variables often referred to as the five Ps in marketing: Product, Price, Place (Distribution), Promotion and Packaging. By using variations of these four components, company has the ability to reach multiple consumers within its target market. But, the problem is to determine the importance of each of the elements to reach target consumers. Another dilemma is whether to use parent brand or child brand or make a combination of two.

This report intends to explore the relative importance of each marketing mix elements and influence of brand name in purchase decision. This gives the idea how consumers are being influenced by advertising, premium, price, product quality, availability, brand name and also by how much.

Children rated the brand PRAN from their perspective as (i) Most Known, (ii) Low Price, (iii)High Quality, (iv) Most Available (v) Hygienic. Where as, Parents rated the brand PRAN from their perspective as (i) Most Known, (ii) Low Price, (iii) Neither Low Nor High Quality, (iv) Most Available, (v) Hygienic. So, from most of the aspects brand rating from children and parents is pretty much same.

From the study findings, I can say that product should be hygiene in its appearance. Its flavor and taste should be emphasized. Even though parents dislike colored products, product should be colorful as the target consumers want the product in that way.

As from the study we come to know that most of the time children are used to buy themselves and even though parents buy them such kind of products, they consider their children’s preference, price should not be...