Term Paper Pran RFL(1)

8/19/2019 Term Paper Pran RFL(1)

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Introduction

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Background of the Study

East West University, one of the leading researched based universities in Bangladesh,

allows the students of BBA program to do more than ! courses where "#$%!% is one of

them& By this course we get introduced with the principles of marketing, most

fundamental and basic things related to marketing& 'ere, the course teacher assigns the

students to work on a pro(ect& Such step enables students to make a successful

reinstitution to the corporate world after ac)uiring the academic knowledge& Being

students of this course, we are grateful to get the chance to apply the theories of

marketing strategy that we have learnt so far, in practical life&

$he main purpose of the task from the part of the university was to make the students

apply the knowledge they ac)uired from this specific course and to compare between the

work in practical world and the theoretical knowledge ac)uired from the books& *or SE+,

this pro(ect has a significant importance as well as its an overall analysis of both their

internal and e-ternal situation&

.b(ectives of the Study

$o find out how SE+ has become reliable real estate company in Bangladesh&

$o show them the currents market situation and position of them in the market&$o show them the competitive advantages they are holding over the other e-isting

companies in the market&

$he possible obstacles company may face in recent time&$o gather an overall idea of Bangladeshi real estate business&

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/rocess of 0ata 1ollection

0ata collection methods are followed as follows,

/rimary +evel23eneral "anager, "arketing 0ept& of SE+

Senior E-ecutive, "arketing 0ept& SE+

Industry E-perts

1ommercial E-ecutive$echnical /ersons&

0irect /hotography

Secondary +evel2

• Website• 3oogle

• .utlets

• Advertisements on /aper

• Bussers

• Advertisement on Billboard

Scope and +imitation2

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It was not so difficult to us to get the access in several necessary parts of SE+s corporate

office and to talk to them to have discussion on certain topics due to the reputation of

East West University and its students positive image& $he letter forwarded by our

honorable course teacher Miss Husna Ara again helped us to proceed the se)uences

officially and successfully&

.n the other hand some obstacles could be noticed& Such as2

1ommunication gap& It took a bit more time to get an official approval from them&

+ong distance from the university campus to /anthapath4corporate office5 and

intolerable traffic (am made dilemma&*inancial support was low among the group members&

Some big holidays, such as Eid Ul A6ha, 0urga /u(a, Ashura ect& and sudden

political clashes between political parties hampered on our go&+ast but not least, lack of e-perience& Its our first time to do any survey in any

organi6ation&

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Overview ofThe Company

Brief history

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The Structural Engineers Ltd !SEL" is a private limited company, established in %789

as proprietary concern with Engr& "d& Abdul Awal, a graduate civil engineer of %7::

from BUE$, 0haka as the proprietor& Subse)uently the firm was converted into a private

limited company in *ebruary, %78: and was duly registered with the registrar of (oint

stock 1ompanies, Bangladesh& $hen the firm was re

organi6ed by co;opting more graduates of various

disciplines in the field of engineering& After the

inception of the company, it started making significant

contributions mainly in the field of civil engineering

and gathered wide e-perience by completing diverse

structures including buildings, bridges, food go downs, hospitals, cyclone shelters, sub;

station buildings etc&

Banking on its reputation in the construction sector, the company forayed into the real

estate sector in %77 and has completed %!!4hundred5 residential and commercial

pro(ects, establishing itself as an embodiment of )uality, competence and efficiency& $hey

are IS. approved and they strictly maintain the law and 3overnment rules& SE+ strongly

set their position by answering a simple straight forward )uestion2

Are the #ro$ect #lans approved %y the relevant authorities&

And the answer goes

< =We do not go for marketing or construction of any pro(ect until that pro(ect is duly

approved by concerned authority like 'A()* &>

Company profile

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http://www.rajukdhaka.gov.bd/rajuk/webHomehttp://www.rajukdhaka.gov.bd/rajuk/webHome


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A%out SEL+ $he Structural Engineers +td&, is affectionately called SE+ by its

innumerable customers and patrons& It holds a logo of two different brown rectangles

combined with a black s)uare and a white circle, representing the overall thought of

variation and professionalism in structural developments& SE+ stands for honesty, trust,

faith, )uality ? commitment& $hese are the guiding forces behind SE+@s e-cellence as a

trusted developer& $hey proudly say that SE+ is a Brand ame one can trust for safe

investment&

SE+ has been in the construction arena for the last 8 years, initially serving various

sectors of the 3overnment including the sectors of health, food, power, disaster

management etc& and gradually moving on to the sector of real estate&

With a view to alleviating the living accommodation problem of the mega city 0haka,

SE+ stepped in the real estate development scene in %77C& 0uring the span of the last %C

years SE+ has completed and handed over more than %!! apartment and commercial

pro(ects in 0haka, establishing itself as an embodiment of )uality, competence and

efficiency&

SE+ believe that Duality is not a concern solely of the top management or the )uality

control department rather it should be the concern of every single member of the

workforce, starting from the 1E. right down to the bottom rung of the ladder& Besides,

based on the philosophy =,uality comes first- #rofit is its logical se.uence/, SE+ is

maintaining ,uality at all stages of development by involving the total workforce& With

the dedicated contributions of a full;time workforce including architects, design

engineers, skilled ? e-perienced pro(ect personnel and not to mention state;of;the;art in;

house architectural ? structural design facilities, SE+ has been able to achieve success

within a very short time&

At SE+ we believe that a satisfied customer, whether a landowner or a purchaser, shall

become a source of our advertisement, creating a wider scope for business& $hey always

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proudly aver that of the more than %C! completed pro(ects, many of the plots we ac)uired

were through the advocacy of our valued landowners&

In all honesty choosing a developer is )uite a difficult and risky task for a landowner&

owadays there are many developers in the field& Which, then, shall one choose and what

shall be the criterions for choice $hey suggest that a landowner may )uite easily (ump

over this hurdle by talking to the landowners and the unit owners of various completed

pro(ects of a particular developer& *rom them he shall be able to get an accurate and

unembellished picture about that developer& "aking decisions based on the e-ternal

trappings such as the da66ling finishing items and ostentatious gate only, instead of

paying ade)uate attention to the structural details shall surely not help matters& In fact, the

structure of the building ought to be a ma(or matter of concern as there is nothing one can

do to change it until or unless the building is demolished& And sound structures there are

always a priority for honest developers&

0oal+ SE+ set their goal that refers to earn a respected position, discovering and

understanding the desires and needs of the community, whiles working in harmony with

their consumers, employee and business partners& $hey want to be the market leader by

e-celling in product )uality, social, technical and marketing creativity and service to their

consumers through skill and cordial commitment of their employee& Any companys goal

is to ma-imi6ing the market share& $hey want to be the best company through their best

effort, suitable and competitive marketing strategy and the consumers support&

Business Area+

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$he corporate office 1SEL Center/ of The Structural Engineers Ltd is situated in 7

Bir Uttam Da6i uru66aman Sharak, West /anthapath, 0haka, Bangladesh&

$wo )uestions can be related to this portion2

How many pro$ects does SEL have and where are these located&

< SE+ has more than !! pro(ects& SE+ has undertaken pro(ects mainly in

0haka& $he areas where SE+ currently has pro(ects are 2 3ulshan, Banani,

0hanmondi, #alabagan, Elephant Foad, "ohakhaliG Indira Foad, Eskaton,

Higatola, +almatia, 3reen Foad, "ohammadpur, "irpur, /allabi, iketon, Uttara,

/altan, 3arden Foad, Bashundhara, +albagh, Bara "aghba6ar, akhalpara, # "

0as +ane&Besides, SE+ has also undertaken pro(ects in 1omilla, #hulna and

Bogra&

2hat are the criterions for choosing a pro$ect location&

< $he locations of our pro(ects are selected on the basis of the re)uirements of

our prospective and e-isting clients&

Mission

1reating environment friendly dwelling for ultimate satisfaction of customers&

3ision

0eveloping /lanned habit for future generation&

Slogan

1Duality comes first, /rofit is its logical se)uence&>

$he company believes in this above mentioned philosophy and gives prior importance to

the maintenance of time schedule and high )uality of works& $he company also believes

that an organi6ation survives and thrives only by providing its customers with satisfaction

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through its products and services& At SE+ we do so by adopting Total ,uality

Management !T,M" a systematic approach based on companywide activities through

which a company is able to devote itself so satisfy its clients by providing top )uality

products and services&

SE+ again and again say the same thing in order to establish that it stands for honesty,

faith, trust, )uality and commitment& $hese are the guiding forces behind SE+s

e-cellence as a trusted developer&

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#roduct 4nformation

The Structural Engineers +td& shows a great promise in choosing n providing products to

the target market& $hey build up their products and serve them according to customers

preference& $he SE+ usually sells two types of products& $hey are2

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Feady *lat

*lat

'eady 5lat+ SE+ provides ready flat to the customers that is built up

by their own finance and observation and after making it completely ready,

they offer it for sale& SE+ sell two types of ready flat

*ull furnished ready flat

Feady flat without furniture&

5lat+ SE+ also advertise of their pro(ected apartment using various

promotional tools and collect the capital and gradually use them to

construct flat& After a certain period of time, the make it completelyfinished and hand over them to the customers&

In order to keeping the customers aware of their product they established a bunch of

)uestions with elaborated answers that give a broad knowledge about the product& Some

of the important are given below2

2hat Construction6core materials !'od- cement- sand etc" are used&

< $he constructioncore materials we use for our pro(ects are of standard

)uality2

%& All !J! grade "&S& deformed bar&

& Stone chipsKolagon( stone shingle/icked (hama brick chips&

9& 1oarse sand for concreting ? medium sand for plastering&

& 1oncrete mi- proportion %2%&C29 or %22 4as per design re)uirement5&

All constructioncore materials are tested independently by BUE$ andor the

University of Asia /acific&

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2hat 5inishing materials !fittings- fi7tures- tiles etc" are used&

< $hey provide standard finishing items and fittingsfi-turesG these include2

%& Apartment floor2 'omogeneous tiles 4FA#1B1"ir or

e)uivalent5&

& Bathroom and kitchen2 3la6ed tiles on walls and wall matching

homogeneousgla6ed tiles on floor&

9& E-terior wall paint2 Weather coat paint of Berger Fobbialac

A)uaAsian paint or e)uivalent of elegant color&

& Interior wall paint2 /lastic emulsion paint of Berger

FobbialacA)uaAsian /aints or e)uivalent of elegant color&

*eatures

SE+ is always famous for providing different features in their products& $hey say their

product is different than others& It is because of they apply customers feelings or

preferences with their brand& $hey also keep the )uality superior to others, e-clusive than

anything&

Kariety

$hey make varieties of apartments all over the Bangladesh& It starts from the si6e from

%!!! sft& to !!! sft& which give a a lot of options to customers& Again, they locate their

flats in various areas and thus they make the variety&

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Duality

*rom the very beginning, SE+ keeps the promise to give the superior )uality product to

their customers& & Although they prepare both large and small apartments according to

customers need and affordability, they keep the )uality same for all& $heir slogan, mission

and vision always talks about the same thing, the )uality&

0esign

According to the survey and the overview gained from the

customers, design is one good thing that attracts all kind of people

who are interested& $heir designs are e-clusive& A number of skilled

and e-perienced engineers and architect works in this company and

make world class designable and fashionable flats that easily represent ones personality&

/ackaging

SE+ offers their product according to the si6e, situation and re)uirement of the pro(ect&

$hey put various opportunities like install basis payment, direct payment etc& based on

the ability and situation of a customer&

Felative "arket Share

A companys relative market share determines its position in the competitive market

where it belongs along with its other competitors& $he Structural Engineers +td& is

presently the market leader in the world of real estate business in Bangladesh& Fecent

performance of this company pictures that it has got a great value in the market&

1ustomers are satisfied with their product and pricing strategy&

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Strategies

$he 1ompany *ollow

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"arketing "i-

$he marketing mi- is the set of controllable, tactical marketing tools that the firm blends

to produce the response it wants in the target market& $he marketing mi- consists of

everything the firm can do to influence the demand for its product& $he many possibilities

can be collected into four groups of variables known as =the four /s>2 product, price,

place, promotion&

ow lets see how $he Structural Engineers +td& use the /s concept to marketing&

/roduct

/roduct means the goods and services combination the company offers to the target

market&

Although SE+ usually do business with ready flat and flat, they have variations on their

products under their product line so SE+ offer different si6e, shape, design and offerings

to introduce their products& $hey offer2

Stores vary from J to %J, depending on the location and measure of land& Karious apartment si6es according to the pro(ect location and as per re)uirement

of the client base& $he smallest are close to %!!! sft&, while the larger apartments

might measure around !!! sft&

+arge apartments consisting of 9 to rooms and slam apartment with to 9

rooms&

/rovides the ma-imum usage of natural light, e-posure to scenic view ; these

factors are given highest priority while designing the units&

/rice

/rice is the amount of money customers must pay to obtain the product&

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SE+ offer different price limit to their target customer& $hey are very concern about the

user comfort of product& $hey know that large apartments is not the only si6e their target

customers choose rather than they are more likely to choose smaller apartments with an

affordable price rate& So they focus on both types of customer ? offer them different si6e

and price knowing their purchasing power and need& /oint to be noted that SE+ charge

their product price by the Cost8%ased #ricing Strategy

$heir units are priced at a very reasonable rate and the payment mode is kept

fle-ible to accommodate the purchasers& $he price of the car parking space is not included in the apartment price&

$hey provide clients with all necessary information regarding financial assistance

and give them all the help they need in applying for loans from any financial

institutions they might want to patroni6e& Usually, local clients get up to C!L of

the flat price as loan, whereas e-patriate purchasers might be granted unto :!L

loan&

/lace

/lace includes company activities that make the product available to target consumers&

$he distribution channel of SE+ is very strong& $hey can fill up the demand to their target

customer and particularly the ready flat of SE+ has strong brand name so it supply

rapidly to the target customer& If we take a look on SE+ supply channel that is;

/roduction; 1entral depo; Fegional depo; 0istributor ;1eltral&

$hey have cover around J!L of the urban, semi urban and sub urban areas of

Bangladesh& SE+ do direct marketing and one to one marketing& $hey strongly take the

position to say that the )uality of their product is higher the brands price compared to the

other e-isting brand is much lower&

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0istribution 1hannel

SE+ buys the raw materials both from internal and e-ternal outlets& As they are always

concerned about proving the best )uality to the customers and holding their reputation to

all, it never compromise to buy good from foreign countries& .ne good thing is that they

are doing some small businesses like ceramic business or furniture business in order to

(ust getting the materials to run properly the SE+ real estate company which certainly

makes the difference from others&

/romotion

/romotion means activities that communicate the merits of the product and persuade

target customers to buy it&

$he Structural Engineers +td& comes with their tagline =Duality comes first, profit is its

logical se)uence&> and they promote several activities of Bangladesh& Eventually their

promotion is so high ? effective that helps them to grab their target market region easily&

$hey do mainly sales promotion to ensure the gradual increase of their selling rate& As

promotional tools, SE+ prefer the print media above all& All sorts of offerings are showed

in advertisement on newspapers and other print medias& Besides, they often organi6e

rehab fair to sell their goods, promote their offerings and let their customers know about

the present situation of their business& $hey also promote their names and encourage

people to buy their products by providing them various offers such as install basis

payment opportunity, seasonal offers and information in detail version& $o them, the most

effective promotional tools are,

.rgani6ing fair

Add in print media&

Bill Board&

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CS' Activities

$he social welfare done by a company besides their corporate activities is called the

Corporate Social 'esponsi%ility !CS'" SE+ are highly involved in 1SF program from

the beginning of their (ourney& Besides, they arrange several activities to promote the

country& In this year SE+ have arranged a $ravel and $ourism *air to promote the

promising tourism industry& $hey believe that these are the most effective 1SF program

they have taken&

)se of ST# Concept

S$/ is the prime concept to do customer;driven marketing& $he company must win

customers from competitors, then keep and grow them by delivering greater value

through S$/ concept&

S M "arket segmentation

$ M $arget marketing

/ M /ositioning

Before a company satisfies its customers, it first finds out the need and want of

customers& So they have to do market segmentation to find their customers because a

company cannot satisfy all the customers&

Mar9et segmentation

"arket Segmentation mean dividing a market into distinct groups of buyers who have

different needs, characteristics, or behaviors, and who might re)uire separate products or

marketing programs&

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The Structural Engineers Ltd& has divided their market that is segmented their market

with a uni)ue combination of two different bases& *irst of all SE+ segmented its market

3eographical basis& $hey have started in the 0haka city but now they are developing

their pro(ects in 1omilla, #hulna, 1hittagong and 1o-- Ba6ar&

$hey also used the theory of /sychological segmentation, targeting the upper class and

upper middle class to sell their product&

After segmenting the market a SE+ had to choose their target customer&

Target Mar9eting

$arget marketing is the process of evaluating each market segments attractiveness and

selecting one or more segments to enter & $he interesting part lies here& SE+ has made a

uni)ue combination between the geographical and psychological segmentation&

According to their policy SE+ selected the middle and upper middle class 4 not higher

class5 people as their client& .n the other hand, areas outside the 0haka city, the selected

higher and only higher class people as their client& $hey related these two things as they

are conscious of the high cost of the life style in 0haka city, so emphasis more on

providing reliable products than making it lu-urious and costly& .n the contrary SE+ are

making big apartments with latest features and technologies in the out of 0haka city such

as 1omilla to make people used to with a different life style n approach of living& $hus

those significant areas customers are more likely to be upper class& After selecting

segments SE+ again had to create a soft corner in the heart of their customer for their

product&

:ifferentiation

0ifferentiation is to provide something uni)ue in their market offerings that create a soft

corner to its target customer&

SE+ do its brand differentiation by their slogan, logo and their entire building structure&

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#ositioning

/ositioning means arranging for a product to occupy a clear, distinctive,

and desirable place relative to competing products in the minds of target

consumer&

SE+ do its brand positioning by promoting their slogan =Duality comes

first, profit is its logical se)uence&> again and again and set it permanently

into the mind of their customer& SE+ also emphasi6e on their logo for

positioning&

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Evaluation2

1ompany ? 4ts #roduct

B13 4$he Boston 1onsulting 3roup5 "atri-

Using the Boston 1onsulting 3roup 4B135 approach, a company classifies all its SBUs

4strategic business unit5 according to the growth;share matri-&

$he growth;share matri- defines four types of SBUs2

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STA'S+ are high;growth, high;share businesses or products& $hey often need heavy

investments to finance their rapid growth& Eventually their growth will slow down, and

they will turn into cash cows&

Cash cows+ are low;growth, high;share businesses or products& $hese established and

successful SBUs need less investment to hold their market share& $hus, they produce a lot

of cash that company uses to pay its bills and to support other SBUs that investment&

,uestion mar9s+ are high;share business units in high;growth markets& $hey re)uire

a lot of cash to hold their share, let along increase it& "anagement has to think hard about

which )uestion marks it should try to build into stars and which should be phased out&

:ogs+ are low;growth, low;share businesses or products& $hey may generate enoughcash to maintain themselves but do not promise to be large sources of cash&

B13 "atri- of SE+s /roduct

ow lets try to understand the present market situation of SE+s products by putting its

products into the B13 "atri-&

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Stars

Feady *lat

Question marks

A

Cash Cows

*lat

Dogs

A

Analysis2

%& Feady *lat is their Star product& $hey sell it most& $hey try to keep the position in

here by investing&

& *lat is their product that can be put in 1ash 1ow& $hey try to earn as much money

as possible from this and invest the revenue into Star product&9& As the deal with these only two products, no real threat is there in 0ogs or in

Duestion "arks&

B13 "atri- of SE+s Business /ortfolio

It is important to understand the overall situation of business portfolio SE+ have& ow

lets try to understand the present market situation of SE+s portfolio by putting its

businesses into the B13 "atri-&

24

H

i

g

h

Lo

w

Market

Growth

High

Relevant

Market Share


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• SL !e"ent

• SL !on#rete

• SL !enter

• SL $i%a&h

• 'r#har( )oint

• $*+

S,+R -

.'G ! + S

H

! '

/

Analysis+

; $heir most profitable business that is real estate business is in cash cow position

due to the present market situation&


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9& SE+ can increase their shopping mall business using the same strategy they use in

SE+ ibash&& SE+ have some business that mostly being run to support their main real estate

business& $heir cement business and concrete business are some of them that are

presently in 0og position& $hey can either stop them and invest the money in

other businesses or can work hard to increase their level of profit from these&

SW.$ AA+NSIS2

"anaging the marketing function begins with a complete analysis of the companys

situation& $he marketer should conduct a S2OT analysis- by which it evaluates the

companys overall strengths 4S5, weakness 4W5, opportunities 4.5, threats 4$5&

$he SW.$ analysis of $he Structural Engineers +td& is shown below2

26

Lac9 of organi>ing proper mar9eting

strategy

They do not have sufficient pro$ect in the

prime locations

They do not promote highly of their flat

or ready flat- especially to their target

customer

They have strong financial %ase

Loyal price for upper and middle class

family with standard .uality

)sing raw materials from their own sister

concern company

Ma9ing a fruitful profit with offering a

standard .uality material

Offering those types of flats depending on

their customer demand&

/ositive egative

S W O

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Conclusion

27

#rice hic9 of lands- especially inside

:ha9a

Economic inflation in Bangladesh

'eduction of pu%lic purchasing power

over flats

Capturing the mar9et outside of :ha9a

By using new technology they can distinct

their position from their competitors& By using new technology they can reduce

their cost for generating %etter profit

They can segment their target customer

on their income %asis

They should not overloo9 most e7clusive

prime location

ernal nternal


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1onclusion

$here is no doubt that new product development is very much difficult and challenging in

current competitive market situation& Each and every company is trying to improve their

e-isting pro(ect as market demand as well as like to come up with innovative solution

through its product system and approach&

SE+, $he Structural Engineers +td& is undoubtedly an established organi6ation that

emphasi6e on maintaining high )uality product and their promises rather than using huge

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type of promotion tools& Although there are many difficulties, SE+ has very good brand

image and customer acceptance for best )uality product&

Fecommendations

*rom SE+ marketing e-perience along with the academic knowledge gathered for

preparing this report there would have few recommendations to introduce this product in

the particular market segment&

$o introduce The Structural Engineering Ltd !SEL" it will be better to take heavy user

target marketing approach& In this approach cost involvement will be interested to use this

product& Always monitor competitors activities price promotion innovation development

etc&

/roduct formulation guideline should be simpler and make it easily understandable to

local technicians& Any comple- process will keep away the technicians from the use of

the product& Ensure regular service availability&

$hey can bring some variety as their products demand& Selecting new locations by

geographical ? demographical advantages can be a ma(or factor&

/romotional activities can be increased by using different promotional tools such as mass

media etc&

$hey can take total benefit of their 2OM Its highly positive and will be highlighted when

promotional tools will be used&

0ue to strong financial base they can launch a residential pro(ect to reduce our accommodation

problem in our city&

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Appendi7

Attachments2

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Chandan%ari at *athalBagan

Basement 5loor :esign

SEL Center

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S"N+E 3roup "embers with

"d& Sha(ahan "ia

3eneral "anager

'ead of "arketing ? *inance

Documents

Term Paper Pran RFL(1)