Market Analysis of Butterfly
Essay title: Market Analysis of Butterfly
1.1 Introduction
Just only few years ago people of Bangladesh was not so familiar with the generator or even with the motorcycles. At that time to them these were luxurious product. But in the last few years the scenario has changed completely. Generator or motorcycle is no longer luxurious product to them. Rather than they treat these as their basic necessity. This change has encouraged companies to invest in making generators and motorcycles. But only production is not enough for the success of products. A well designed marketing strategy, strategic planning and effective implementation of strategies can ensure a healthy sales revenue and thus satisfactory market share.
1.2 Background of the company
Butterfly marketing limited is a Bangladeshi company which started their journey in 1987 with only 3 showrooms. Since then their main focus was on product quality and after sales service. As because of this it is experiencing tremendous growth and now it has 128 showrooms in Bangladesh. Butterfly operates only in Bangladesh. It merged with LG and is selling Korean and Chinese products. Butterfly is currently selling TV, refrigerator, deep freeze, generator, IPS, motorcycle, vacuum cleaner, air purifier, dish washer etc. In most of their product they have achieved very competitive position. Butterfly is the market leader in the electronic goods like television, computer monitor, air conditioner, refrigerator etc. This means that they have created goodwill and brand value in consumers mind. Now their objective is to achieve success with their generator and motorcycle.
Butterfly has 2 types of sales policy and these 2 are credit sales and cash sales. But it mainly focuses on the credit sales. It has divisional warehouse and from these warehouse it supplies product to different branches. Divisional warehouse make product of butterfly available and ensures low inventory and holding cost.
1.3 Rationale of the study
I am working in marketing department of Butterfly. This experience will help in my professional life if I chose my profession in the marketing department. My experience will help me to do work smoothly if I join in the marketing sector of any company.
1.4 Objective of the study
1.4.1 Broad Objective: Analyzing different aspects of market situation of the competitors of Butterfly regarding generator and motorcycle and finding out position of Butterfly compared to its competitors.
1.4.2 Specific Objective
To find out what different models and types are available in the market of generator and motorcycle.
To know market share of different companies.
To identify potential market size.
To know about the after sales service of the companies and to know how much they vary.
To gather knowledge about the current scenario of generator and motorcycle market.
To identify ways through which Butterfly can improve their market share or position in the market.
1.5 Scope of the report:
Since the study will be conducted basis on Ў§Dhaka CityЎЁ in evaluating different aspects and criteriaЎ¦s related with companies who sell generator and motorcycle, the scope of the Ў§ReportЎЁ will be limited within Bangladesh.
1.6 Strategy and Methodology
1.6.1 Area of investigation: For my project purpose, I have selected few companies within the Dhaka city. As it is tough for me due to time and resource constrains for me to collect the data from the entire Dhaka city in this short period., I have selected the following companies those are Rahimafrooz,Walton, Singer, Lifan for generator and Hero Honda, Yamaha, TVS Victor, Singer, Walton Lifan for motorcycle. Though itЎ¦s not appropriate to find out the practical sales and demand in those areas, but I have tried to find out relevant picture.
1.6.2 Techniques used to collect data:
Face to face Interviewing officers, staffs and dealers will be performed regarding the quality, types, sales and service of the product.
In-depth study of selected case.
Sharing practical knowledge of officials.
1.6.3 Population: The Generators and Motor Cycle companies, considered as the population for conducting the report. The companies