Country NotebookMarket Plan for Indus Marble Industries (Pvt) LTD

Fahad Iqbal

Country Notebook Many companies, large and small, have a country

notebook for each country in which they do business.

Contains information a marketer should be aware of when making decisions involving a specific country market

As new information is collected, the country notebook is continually updated by the country or product manager

New-product introductions, changes in advertising programs, and other marketing program decisions begin with the country notebook.

Indus Marble Industries (Pvt) LTD

About Company Pakistan based Marble and Granite company

Started as a manufacturer, supplier and wholesalers of quality marble and granite since 2001

Exporting first-class material around the world

Highly knowledgeable sales team and  trained to provide superior customer service

Largest quarries and stone factories in Pakistan

Specialize in providing a large variety of granite specially: Khyber gold Imperial white Sado pink Black rose Jet black granite Marble

Specialize in: Flooring Stairs Wall Panel Counter top Vanity Top Kitchen Top Table Top Pattern Design

Contact

Developing Market Planfor

Indus Marble Industries (Pvt) LTD

Guidelines Guidelines for market data collection and

analysis

1. Guideline for cultural analysis

2. Guideline for economic analysis

3. Guideline for market audit and competitive analysis

4. Guideline for preliminary marketing plan

Guideline for cultural analysis Introduction of Company

Products to be Exported: Flooring Stairs Wall Panel

Trading Country: Bangladesh

Bangladesh

World's eighth-most popular country, with over 160 million people

Located in South Asia

Bordered by: India in the north, The Bay of Bengal in the east and west, While Myanmar surrounds it to the south

Climate:

Tropical with a mild winter from October to March

Hot, humid summer from March to June Warm and humid monsoon season lasts

from June to October Never recorded an air temperature

below O°C

Social Institutions Family:

Extended family in past Currently Nuclear family because of urbanization and

industrialization Ordinarily Father is family-head

Parents ordinarily select spouses for their children

Women in Bangladesh remained considerably inferior to that of men

Literacy Rate

Total 78.56%

Male 85.09%

Female 72.03%

Compulsory Education: 12 Years

Political System

Democratic Republic

Prime Minister is the head of Government

Three major Political Parties Bangladesh Nationalist Party (BNP) Bangladesh Awami League Jatiya Party

Local Government RolesUnion Councils

Maintenance of law and order Adoption and implementation of

development schemes Providing public welfare services.

District Councils construction and maintenance of roads,

bridges, building hospitals etc

Legal System

Primarily in accordance with English Legal System

Islamic Law country

Social Organizations Subcultures

Ethnic Religious – Muslims, Christians, Buddhist Regional – Southern, Northern and Coastal

Ethnic Groups Bengali (98%) Khasi Biharis Chakma Mundas

Religion Muslims (86% of Population) Hindus (12%) Buddhist, Christian etc. (1%)

Music Classical (Indian Subcontinent) Folk Modern

Diet and Nutrition

Highly imbalanced diet Lacks vitamins and minerals Rice and cereal (80%) Vegetables (3%)

Foods Available Rice

Clothing

Women – Sarees Males – Punjabis, Pajamas, Kurta, Lungi Hindu – Dhuty Common Dresses – Shirts and Pants

Housing Straw and Bamboo walls (20%) Mud Brick Houses (18%) Cement Walls (62%)

Sports

Cricket Football Kabaddi (National Sport)

Language Bengali (Official) Urdu Hindi Bihari

Economic Analysis

Population

156.05 million (2013 et) Growth Rate 1.292% Birth Rates 24.68% per 1000 Life expectancy 60 Years Percentage of males – 47.9 Percentage of females – 54%

GNP

498.8 Billion $ (2013) Per capital income 3190 $ (2013)

Minerals and Resources

Natural Gas Coal Hard Rock

Communication Systems

Trains

Land Communication (Roads and Highways) Widely Used (Busses, Bullock Carts,

Cars)

Water communication (Boats)

Air Communications (Bangladesh Biman)

Working Conditions

52% Employed

30% Self Employed

18% Jobs on daily Basis

Principal Industry Food

Major Imports and Exports Major Exports: Rice, Garments, Leather,

Frozen Fish

Major Imports: Machinery, chemicals, cement, iron, marble, petroleum products

Exchange Rates Four Types: Fixed, Floating, Managed,

Pegged Current Exchange Rate : 0.013 US $

Trade RestrictionsTariffs: Import taxes revenue 40% Agriculture tariffs 28.8% Non-agricultural tariff 18.5% Custom Duty 13.8%

Licensing Most goods do not require import license Prior approval is required for restricted

goods No tariff quotas on import

Labor force

Size – 77.6 million Inflation Rate – 6.32’ Unemployment Rate – 5%

Science and Technology Nuclear research 1960s Internet use 21.27%

Distribution ChannelsProducer

Exporter

Importer

Optional – Sales Representatives

Retailer

Customer

Import/Export agents

Exporters A.J Enterprise Promi Trade International Ask

Importers Khan Trading Corporation Ranger International A & Q Corporation

Media

Print (Amar Desh, Daily Azadi, Daily Destiny etc)

Broadcast (ATN Bangla, Banglavision, Desh Tv etc)

Online mass media (over 600,000 internet users)

Market Audit and Competitive Analysis

Product Characteristics

Relative Advantage Different variety of colors of Granite

Compatibility Latest designs High quality Different sizes

Product Characteristics

Complexity Easy to install

Trailability Samples

Observability Innovation in designs

Market

Major Marble Importers AMGL Marble De Carrara Pvt Ltd

Online Orders by companies

Transportation Roads Railways

Distribution of Product

Typical Retail Outlets

Shafa Marble Green Granite Pvt Ltd Euro Marble Industries Northern Marble Industries

Consumer Buying Habits

Product use pattern depends on: Values Perceptions Subculture Education

Buying Habits Interested in products like foods,

decoration, household appliances

Advertising and Promotions Widely used media – TV Newspaper

Advertising agencies Grey advertising Mediacom Clockwork Interspeed Advertising

Pricing Strategy

Initially Absorption Pricing Strategy

Value Pricing Strategy

Competitors Analysis

Major Competitors

Green Granite and Marble Ltd▪ Marble , Tiles, Granite

B & D Marble and Granite▪ Granite Benches, Headstones, Vaults

Market Size

Estimated Industry Sales 22.64 Million $ / Year

Estimated Sales of Company 2.5 Million $ / Year

Agencies

Khan Trading Corporation Ranger International A & Q Corporation

Preliminary Market Plan

Target Market

Construction Companies Marble Importers

Expected Sales

1st Year 2nd Year 3rd Year 4th Year0

0.51

1.52

2.53

3.54

Sales (Million $)

Sales

Expected Profit

1st Year 2nd Year 3rd Year 4th Year0

0.2

0.4

0.6

0.8

1

1.2Sales (Million $)

Profit (Million $)

SWOT Analysis

S W

O T

Strengths

Good quality Unique designs Variety of colors Low cost of Production

Weaknesses No manufacturing industry in

Bangladesh

Opportunities

Large, diversified and potential Market

Cheap Labor Rates Easy creation and development of

production centers

Threats Competitors Increase in taxes

Product Adaptation or Modification Core Component

Modification Not required

Packaging Modification Not Required

Support Services Not Required

Advertising

Newspaper (First Priority) Television

Sales Promotions Discounts:

100 Free tiles per 1000 tiles

Other Promotional Methods Direct contact with Contractors

Distribution

Documentation

Bill of lading Dock Receipt Commercial Invoice Shipper’s Export Declaration

Channels of Distribution

Retailers Initially 5 retailers in Dhaka Methods of operation 50% Cash and

50% Credit Scale of operation – Initially Small

Resource Requirements

Finances Initially 6 million $

Personnel Bangladesh Export Department▪ 40 Employees in office

Thank You