econo - powerpoint

History: Beginning of GQ Group:

1983 Entrepreneur: Al Hajj Kazi Salemul Hoque

Initial product: ECONO ECONO DX

Location: Magura

Journey to Success: highest revenue during the period of 1991-1997

Company profile

Current scenario:

• GQ Ball Pen Industries Vs. Foreign Ball PenMarket• GQ’s turnover 2000-2004:

Year Turnover (Tk.)

2000 30 crore

2001 27.27 crore

2002 27 crore

2003 25 crore

2004 22 crore

Main Brands

• Cello-GQ Industries LTD.

• GQ Foods Ltd.

• GQ Industries LTD.

• GQ Marketing LTD.

• GQ Properties LTD.

• Maladesh Int. (PVt). LTD.

• Int. Writing Instruments LTD.

4 Ps of Econo

• Product: 12 types of Econo

• Price: Reasonable pricing

• Promotion: Radio and Newspaper ads

• Place:Factory(Jessore)

Sole Depot(Elephant Road)

Distributor(All District)

Retailer / Wholesaler

(All District)Consumer

Profile of the Target MarketDemographic Factor

Gender

52%

48%

female

male

Age19 and under 15%

20-29 55%

30-3913%

40-49 9%

50+8%

Education

6%

4%

20%

51%

19%

Primary

SSC

HSC

Bachelor

Masters

0

10

20

30

40

50

Occupation

Occupation 14 6 12 17 48 3

business

govt. employ

private others student writer

Writing Preference

42%

44%

46%

48%

50%

52%

54%

56%

Yes No

Psychographic Factors

Ink Preferences

60%

16%7% 4% 8% 5%

0%10%20%30%40%50%60%70%

Black

Blue

Red

Green

Turquoise

Others

Self-concept1 2 3 4 5 6 7 8

Rugged 5.22 Delicate

Excitable 4.17 Clam

Dominating 4.24 Submissive

Organized 3.29 Unorganized

Rational 4.19 Emotional

Youthful 4.26 Mature

Formal 4.23 Informal

Contemporary 3.55Non-

contemporary

Colourless 6.22 Colourful

Modest 2.99 Vain

Implications for Consumer Behaviour

Perception:• Exposure

• Attention

– Stimulus factors

– Individual factors

– Situational factors

• Interpretation

– Cognitive Interpretation:

– Affective Interpretation:

LEARNINGRelative Learning Theories

• Classical conditioning• Operant Conditioning• Cognitive

– Iconic rote– Modeling

MEMORY• Short-Term Memory

– Maintenance Rehearsal

• Long-Term Memory– Semantic memory – Episodic Memory– Schematic memory

Figure: Schematic Memory of “Econo” ball pen

ECONO

Economy

School/College Life

Ball pen

Writing Ordinary

Smooth

Love letter

First pen

Success

External Influences towards Econo Ball PenRelevant cultural values• Youth/age• Awareness of Pen

• Tradition/change

Awareness of Econo

48%

2% 3% 2% 1%

39%

5%0%

10%20%30%40%50%60%

TV

C

Ra

dio

Ne

ws

pa

pe

r &

Ma

ga

zin

e

Bill

bo

ard

s

We

bs

ite

Ps

.C

om

mu

nic

ati

on

Oth

ers

Group Influence

– Family

– Friends

Type of influence• Informational influence

Degree of Reference Group Influence

AD strategy

Group Influence

71%

9%

12%

4% 4%

Own

Family

Friends

Teachers

Others

People’s Attitude toward Econo Ball Pen

Measurement of the Cognitive Component  Econo

SI Price Smth.nip Grip Leakage Status Style

Sum 167 325 437 363 501 532

Avg. 1.67 3.25 4.37 3.63 5.01 5.32

Ac-Id -1.5 1.42 1.65 1.32 2.23 2.01

I Ac-Id I 1.5 1.42 1.65 1.32 2.23 2.01

W 0.15 0.35 0.2 0.2 0.05 0.05

Wt Diff 0.225 0.497 0.33 0.264 0.1115 0.1005

Total 1.528

  Cello Gripper

SI Price Smth.nip Grip Leakage Status Style

Sum 409 272 281 277 329 371

Avg. 4.09 2.72 2.81 2.77 3.29 3.71

Ac-Id 0.92 0.89 0.09 0.46 0.51 0.4

I Ac-Id I 0.92 0.89 0.09 0.46 0.51 0.4

W 0.05 0.3 0.25 0.2 0.1 0.1

Wt Diff 0.046 0.267 0.0225 0.092 0.051 0.04

Total 0.5185

Measurement of Affective Component

Strongly disagree(1)

Disagree (2)

Neutral (3)

Agree (4)

Strongly agree (5)

I like the ink of Econo 2.89

Smoothness of a ball pen is significant to me

3.96

Econo is highly affordable

4.51

Availability of a ball pen is significant to me

3.63

I like the style of Econo

2.66

I like Econo ball pen 2.89

Last Pen Used

24%

15%

11%10%

7%

4%4%3%3%

19%

Cello

Matador

Econo

Reynolds

Montex

Olympic

Parkar

Perfume

Red Leaf

Others

Measurement of Behavioral Component

When I use a pen it is usually..

28%

14%

12%10%

8%

2%2%

24%

Cello

Matador

Econo

Reynolds

Gel Pen

Montex

Read Leaf

Others

Likelihood toward Econo

0%5%

10%15%20%25%30%35%40%

Definitely willbuy

Probably willbuy

Might buy Probably willnot buy

Definitely willnot buy

Changing Cognitive Component• Change Beliefs – traditional value• Add beliefs – status• Shifting Importance – style & price to smoothness

and performance

Changing the Affective component – Classical conditioning– Mere exposure – above the line promotion

Changing behavioral component• Free sampling of new models

Econo’s Congruence with the Emotion, Life Style and the Self Concept

• Eliciting Positive Emotion

• Matching Self Concept

ProductBrandImage

ConsumerSelf-

Concept

Relationship

Between self concept and brand image

BehaviorSeek products and brand that maintain self

concept

SatisfactionPurchase

contributes to desired self-

concept

Is Econo projecting their positive emotion?

People's Involvement with ball pen

12%12%

43%22%

7%

0%0%

0% 10% 20% 30% 40% 50%

Less than 5 years

5-10 years

11-15 years

16-25 years

26-35 years

More than 35 years

Do not use ball pen

Less than 5 years 5-10 years 11-15 years 16-25 years

26-35 years More than 35 years Do not use ball pen

FITTING INTO LIFESTYLE

•Experiencers & fulfilleds

Does Econo fit into their lifestyle?

Motivating customers – Econo vs. Competitors

• The scenario of the market

0%5%

10%15%20%25%30%

mar

ket

shar

e

CelloGQ

MatadorOlympic Merit Others

Brand Name

Current Market Share

• Motives in the case of buying:

Buying Motives

status , 7%

performance, 59%

style, 12%

price, 12%

others, 10%

Drawbacks and Suggested Promotional Strategies

• Old fashioned style and less convenience

• Retailers discouragement

• Legal problems

• The Ineffective Distribution Channel

Downsides in promotion•TV Commercials

•Radio Ads

•Paper Ads

Suggested Strategies

Specialize around limited strengths

Seek ways to overcome weaknesses

Withdraw if indications of sustainable growth are lacking

Suggested Promotional activities:

• Positioning• Trade Allowance• Sponsor• Social welfare activates

Suggested Distribution Strategies

• Product Availability

• Effective Supply Chain – Good networking with retailer

• Action Planning

CONCLUSION

Thank You