Friday, May 31, 2024

Competitive Analysis of the Instant Health Drinks Marketing in Bangladesh

Introduction

Instant health drinks is continuing to prove as a popular consumer product in Bangladesh. Maltova was the pioneer of introducing instant health drinks in Bangladesh. But after its introduction, Bangladeshi market has proved itself as a challenging and dynamic environment to compete. Many other brands have also been introduced in this market for last few decades and Maltova is nearly at the end of its market share and loosing its customer preference rapidly. Other Major brands now available in Bangladesh are:

  • Horlicks
  • Maltova
  • Complan
  • Bourn-Vita &
  • Milo

Undoubtedly Horlicks is leading the list dominantly by its customer preference. Though the other brands do not have a larger market share, but they play a significant role in the competitive structure of the instant health drinks marketing in Bangladesh.  

This proposed study will help to understand the reasons that why Maltova, being the pioneer of introducing instant health drinks in Bangladesh, have lost its sales, market share and customer preference.

Objective of the study (Problem Definition)

The broad objective of the study is to gain knowledge about the present condition of the instant health drinks marketing in Bangladesh, and explore the major problem areas of Maltova product marketing in and its future trend. The more specific objective of the study that identified as essentials are as follows:

  1. Determine the customer satisfaction level of Maltova.
  2. Customer attitude and preference towards Maltova and other competitive brands in Bangladesh.
  3. Identify the reason for change in the customer attitude and preference level.
  4. Justification of effectiveness of the present marketing strategies followed by Maltova.
  5. Analyze the reason for decrease in sales of Maltova.

Literature Review/Analysis of Secondary Data

As an essential part of this proposal, I analyzed the recent publications of the magazines and trade journals. In addition to that, I also analyzed the various research findings of the university students. All those analysis lead me to take this decision that this proposed study is a newer one and will be helpful for taking effective decision for marketing Maltova in Bangladesh. The most important data was found from the company records that they maintain as a part of the business function.

Research Methodology

After the development of Hypothesis of this study, and the development of the questionnaire, the following methodology and procedure will be maintained:

  1. Research Design: The present research will be exploratory in nature, because the objective of the study is to explore the main problem areas of Pepsi product marketing in Bangladesh.
  2. Data collection method: A standard questionnaire will be developed and data will be collected from the respondents through direct interviewing.
  3. Sampling: The major groups in the sampling frame will be the customers, distributors, wholesalers and retailers. For selecting the customers and retailers, cluster sampling method will be followed. For the wholesalers and distributors, the divisional regions of the country will be selected as broader clusters.
  4. Field work: The field workers will be selected according to adequate educational qualification and experience. If such field worker is not available, then they should be trained adequately before the work.

Plan of the Report

The report of the findings will be presented in five chapters or sections. In the first chapter introduction, background, objective of the study and the methodology followed will be mentioned.

In the second chapter, the more specific literature review will be presented.

In the third chapter background of the study and economic importance of the study will be presented.

In the fourth chapter the research findings will be analyzed and in the last and fifth chapter the conclusions will be made and recommendations will be served.  

Justification of the proposed study

As a result of the intense competition and initialization of globalization, the local brands are facing serious challenge. Maltova is mainly a foreign brand and no local production of this product is going on in our country. If the result of this study shows a positive nature with the change of marketing strategy, then it is possible to start local production of this product in Bangladesh. The successful completion of the study will result in the buying of the franchise of Maltova from the original brand manufacturer which will lead towards the local production of Maltova in Bangladesh. If all those happen then employment, investment and many other economic activities are possible in Bangladesh.

Bibliography

Sources of the data:

  • Company records
  • Bangladesh bank report
  • Current publications of Journals and magazines.

References:

  • Malhotra, N.K.; Marketing Research; (Third Ed.).
  • Boyd, H.W. / Westfall, R. / Stasch, S.F.; Marketing Research; (Fourth Ed.)

Others:

  • Investing in Bangladesh- A guide to opportunities- Bangladesh Board of Investment, September, 2004.
  • Economic Survey report of Bangladesh, Bureau of Statistics, 2004

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