A product development for Olympic company.

1. A New Product Development Marketing Strategy of Olympic Industry Ltd.
Prepared By
NAME ID
Afsana Jaman 14102295
Prepared For
Kazi Khaled Shams Chisty
Faculty of CBA
Department of Marketing
IUBAT
6/4/2017
Olympic Fresh Jam & Jelly- “A new taste of your food habit”
Research Paper on
Marketing
Course Code: MKT 301

2. 1
Table of Content
SL. Parts Page No.
1. Part 1
 Visited Company Overview
 Identify the company’s product mix, line,
stretch and width
 Identify the new product mix, lines, width and
its stretch
 Why to choose the new product
 How developed the new product’s mix, lines
stretch and its width
 How micro and macro environment involve with
this new product development
 Why this product line, product mix, products
stretch and width appropriate for the market
2. Part – 2
 Identify the Market Segmentation of the
product
 Costing
3. Part- 3
 Pricing objectives
4. Part- 4
 Advertising Objectives and which tools we will
have for advertising
 Why this process of advertisements should be
Followed
5. Conclusion

3. 2
PART 1
OBJECTIVE:
- Is to develop product line
INTRODUCTION:
We were supposed to go to a nearby retailed store as directed by our honorable course instructor Kazi
Khaled Shams Chisty. According to the direction of him we went to the Olympic Industries Ltd. located
at Pubail, Tongi, Dhaka, Bangladesh. And observed their products, they have two types products
Olympic Battery & Olympic Biscuit. We have mainly focused on Olympic Biscuit and take a brief
description about the brands that they have, about lines of that particular product which is biscuits. We
learned how is their product market mix strategy. The company is following a 4-dimension product mix
strategy to develop their product lines. These are
1. Width
2. Length
3. Depth
4. And Consistency
We got an important portfolio milestones of the company that can provide the lines of their biscuit
product and the date of taking decision to import those lines. The company has 9 Biscuit lines up to
now. To make product mix consistency the company has been launched Cookies, Bakery &
Confectionary products also in their product lines.
BRAND NAMES OF THE OLYMPIC BISCUITS:
1. Energy Plus 17. Ekko Elachi
2. Nuty 18. Ekko Milk
3. Tip 19. G- Orange
4. Milk Plus 20. G- Elachi
5. Coconut Plus 21. Lexus
6. Chocolate Plus 22. Hilux
7. Elachi Plus 23. Festi Coffee
8. Saltes 24. Nutri Marie
9. Coconut 25. Marie Gold
10. Forst Choice 26. Milk Marie
11. Jeera 27. Choco Marie
12. Crack Jack 28. Energy Plus Malai Cream
13. Digestive 29. Magic Milk
14. Butter Bite 30. Twinkle Twinkle
15. Lite Bite Sugar Free 31. Tim Tim
16. Choco Feast

4. 3
Cookies & Bakery Products are
CONFECTIONERY:
 Juicy Litchi
 Pineapple
 Green Mango
 Ripe Mango
 Tetul Candy
 Jhal Tetul
 Tasty Milk
 Creamy Caramel
 Cool
 Energy
 Eclairs
 Chokito
IDENTIFYING PRODUCT MRKETING MIXES OF OLYMPIC BISCUIT:
Product Line:
The company made up 9 Biscuit lines including Cookies, Bakery & Confectionary.
Product Mix Width:
As this is an industrial company, so we already got that it has a big width of product mix. As the
company has 9 product lines and so we should say that the company build 9 product mix width.
Product Stretch:
To make variations within their product lines they are maintaining three different product line stretching
– A category, B Category & C category biscuit products.
Actually this company is targeting all types of customers. That’s why they are categorizing the biscuits
lines stretching according to the all levels customers. For this, they have branded the biscuits names to
reach to the all types of customers by product mix consistency.
They have made different size to their product in making a customer need base product line stretch.

5. 4
From the collected information of the Olympic Industry Ltd. Biscuit product we have become able to get
a minimum knowledge about Product Mix, Product Line & Product Stretch for developing a new
product.
Our Identified New Product Mix
So now, our main step of this project which is our main goal is to make this knowledge
applicable in creating new product line with new product mix has come up. We have brought a
new product idea for Olympic Industry Ltd. which may create a Milepost for their company
although our knowledge is short.
We have chosen “Jam & Jelly” for creating a new Product Mix which can add a new Product
Line for the company as well as it also may create Product Line Extension.
Reason for choosing, as we know that a company should create a group of product which has
in common most of their characteristics. So, Jam & Jelly might be a good one product line to
extend their product line and to be created a new Product Mix.
As we know that the product mix that we are trying to create of course we will have to sell it.
So, almost everything matter about sell depends on an innovative product mix.
Since, we are very new to create the concept of developing a product mix we will start this Jam
& Jelly Product Mix limited in width and stretched lining.
Before turning over the product mix decision we should make a product lines under this
product mix. As, we should think about the costing, we need to choose such a product line so
that it can fulfill the consumer’s satisfaction. So, we will specialize in Jam & Jelly included
Product Lines are named “Ginger Peach Jam”, “Strawberry Jam & Jelly”, “Mixed fruit Jam”,
“Orange Juice Jelly”, “Pepper Mix Jelly”, Sweet & Sour Jam”
For creating an innovative Product Mix, we will follow Philip Kotler’s product mix strategy and
will identify the ways of product mix decision which are Product Mix Width and Product
Stretched Lining.
We want to give the product mix name “Olympic Fresh jam & Jelly”. We think it is surely a
unique name as it refers to the company identity as well as Olympic means excellence.

6. 5
Why we chose this Product Mix:
We think that it is a need base product and also healthy, nutritious which has a market
demand. So, it may achieve business profit fulfilling the value of the market. We are thinking
about the nutrition as Olympic Company always think about the health value of the consumers,
so we will also focus on the nutrition of the products.
For analyzing the products that may create market value we needed to analyze the micro and
macro environment. After learning the elements of macro environment such as demographic
environment as well as economic environment.
Basically we will modify here macro environment of our business products. We had to survey
the market demand according to some productive ways of measuring market demand that
could break down the market demand and those are the potential market, available market,
target demand and penetrated market. So, after knowing carefully and broadly the market
demand as well as macro environment of a market we classified product mix into six different
product lines.
i. Ginger Peach Jam
ii. Strawberry Jam & Jelly
iii. Mixed Fruit Jam
iv. Orange Juice Jelly
v. Pepper Mix Jelly
vi. Sweet & Sour Jam
Olympic fresh Jam & Jelly is specially for children but these products will cover up all kinds of
people’s nutrition demand. People are very much conscious about their health. As will try to
launch tasty and healthy Jam & Jelly, it will favorable for conscious people.
Our Specialty:
We will produce Jam & Jelly for the children and health conscious people, because we will
reduce the fat level on 0.5% and add extra vitamins and add some sugar that are best for
diabetic people.
 100% pure raw materials and fruits of Jam & Jelly
 Pure Sugar Free
 Diet
 Natural Fruits Flavor

7. 6
Market Segmentation:
We know that there are different kinds of segmentations as like Geographic, Demographic &
Psychographic. Basically we will segment our market according to the Geographic and
Demographic. In these segmentation criteria of Demographic segmentation, we will mainly
focus on
Urban Area for geographic segmentation and for Demographic:
 Age
 Sex
 Income Level
 Occupation
Age: One of major factor is age. We target the children bellow 10 and old aged who have
diabetic, as we will have tasty, nutritious and sugar free products
Sex: Our consumer will both male and female because these products will be demanded for
both.
Income Level: Middle class family whose income level is not poor not high, as report says that
middle class families the major buyers of this products.
Occupation: Professional and fast paced environmental working people. The reason of
identifying these occupation is that people who very busy it will be beneficial for them as we
will make some easy carry system, and short time application to eat these items.

8. 7
PART - 2
COSTING
Variable Cost:
(1) Raw materials/ Ingredients
(a) Fruits like Strawberry, blackberry, apple, pineapple, grape etc.
(b) White Sugar or high fructose corn syrup, xylitol, stevia, dextrose
(c) Lime & Lemon
(d) Salt & foam
(e) Frozen Spoon
(f) Pectin, citric Acid
(g) Other Flavorings such as vanilla, cinnamon, mint.
(h) Other costs
(2) Transport Costs
(3) Packaging, leveling, sizing
Fixed Costs:
1) Amortization
2) Depreciation
3) Insurance
4) Property Taxes
5) Rent
6) Salaries
7) Utilities
8) License

9. 8
PART – 3
PRICING
Pricing Objectives:
Olympic Fresh Jam & Jelly set it products prices will be on value pricing method. We will sell
jams and jellies at price added cost and profit margin and also keep in mind the key competitors
price. Our products will provide its customer quality fresh products that provide customer good
health and enjoyment. Our products will be available and flavored. Our main objective is that
its responsibility to provide best quality wat we have promised to our customers and we must
fulfill our promises. Our company’s big price objective that we will ensure high quality and
taken premium price to its customer. Our superior value to our consumer and we will fund one
taka per premium profit for the old aged home. So, we can conclude the specific objectives:
 To face competition
 To competitors away
 To achieve quality leadership by pricing
 To win confidence of consumers
 To satisfy customers
 Promoting new product
 Maintaining image and reputation
We have selected our price surveying the different prices of other company those can be our
competitors. As we will have six items, so price will also vary depending on different sizes. The
smallest size will be 85 gm and biggest will be 500 gm. So, the price will be 75Tk – 385Tk
according to different sizes and flavors.

10. 9
Part- 4
ADVERTISING
Advertising Objective:
- To achieve high level of product understanding in the target market
Our advertisement process will contain:
1) Branding: Our collective obsession with all things technological often means that we
overlook some of the more basic and highly effective ways to market your business.
2) Social Media: We will have a Facebook page as well have a Twitter profile.
3) Mobile Advertising: We will connect Google’s mobile update application.
4) Putting advertisements on leading newspapers
5) Billboards & posters in commercial areas
6) TV media advertising, newspaper, magazines
When done effectively advertising is an essential part of mix because:
1) Advertising is the only medium we can control
2) Advertising allows us to target ideal customers only
3) Advertising creates awareness for our content
4) Advertising adds credibility to message us
5) Advertising amplifies everything else we’re doing

11. 10
CONCLUSION:
Getting the right product or service to the customer, at the right price, in the right place and at
the right time is fundamental to business success. Understanding and balancing the marketing
mix enables an organization to uniquely position its brand to drive sales of its products and
services. To remain as a market leader a business needs to continually look at new ways of
engaging and exciting customers in its products and services.
Therefore, this research enables us to remain as market leader through its implementation of
groundbreaking marketing strategies and by learning from every marketing campaign it
undertakes. Through the use of social channels, we will be able to innovatively market its new
products after completing our graduation in creative and interesting ways, generating
opportunities to gain new customers and retain existing customers.