A Study on Various Fruit Juice Companies of Bangladesh
CHAPTER 1: INTRODUCTION
1. 1 Origin of the report: This report was conducted and submitted as a partial requirement for the course Business Communication (BUS 231). The report was authorized by Eng. Mr. Kamrul Hassan, Assistant Professor, Department of Business Administration, East-West University. The report was prepared jointly by our group members.
1. 2 Background of the Study: We were assigned as a group to have a study on various fruit juice companies in Bangladesh. We have conducted a study on their organization and also find out the consumer perception about the product. We find out the consumer perception about various fruit Juice.
1. 3 Objective of the study: The main purpose of the project is to show the customer preference to select fruit juice by doing a questionnaire-based survey. We were instructed by our business communication course lecturer Eng. Mr. Kamrul Hassan to submit a business communication report on a four generic products. We choose four fruit juice companies that are available in Bangladesh, such as Pran, Acme, Frutika, and Shezan mango juice. This project also discusses the frequency table and shows a graph of different questions about fruit juice. It also helps to know the customer satisfaction level and customer brand loyalty of different brands of fruit juice. We had some objectives behind making the report.
These are:
- To know about consumer perception for fruit Juice.
- To gather practical knowledge on analyzing companies financially.
- To be experienced in gathering surveys. We believe that we were successful to fulfill most of our objectives. Thanks, Allah to bless on us.
1. 4 Scope:
The main focus of this report is to discuss the customer preference about the fruit juice and the factors which are the reasons to select their product.
It also gives a little description of the history, mission, vision, goal, and strategy about the industry. The report discusses the products and service they are giving. It also discusses, the target customer and market they are focusing to do business.
1. 5 Methodology
Sources of information: We collect this information from our friends and our relatives. A small proportion of people like 20 from university and 10 from our local friends and uncle were selected, as the population of the study.
Primary sources:
Directly from filling the Questionnaire.
Secondary sources: Taken data from various magazines, newspapers,s, and other prominent sources of information collected from different websites and search engines.
The human- relations dimension of communication makes it an activity that involves ethics. But business communication in particular brings ethical considerations into play. The fundamental purpose of a business is to stay in business and, most would say, to maintain or increase stakeholder wealth. When a business is in trouble or the owners are greedy, it can be tempting to try to serve this purpose by using communication in unethical ways.
Limitation: The major limitations encountered are:
- Lack of enough time: The term paper was prepared within a very short time considering the topics related to it.
- That’s why; it was not possible to demonstrate all aspects of the report.
- Insufficient data: The data required for sufficient analysis for preparing the report could not be collected due to the insufficiency of data.
- Inconsistent data: Data from different sources were quite inconsistent which created some problems in making the report & compelled us to verify the data diligently. Some information was withheld to preserve the privacy of the companies. So, we can’t give the exact information always.
Report Preview: The first chapter we have talked about the origin & the background of the report.
We also have discussed the objectives, scopes, methodologies, definitions & acronyms, and finally, limitations to wrap up the chapter. Then in the second chapter of the term paper, we have included the introduction and some brief information on fruit juice companies. It also includes the organ gram of the companies, its missions & visions, its services, etc. Then in the third chapter, we have analyzed the perception of consumers and make a table and graph by using statistical techniques for the fruit juice companies In the final segment, we have drawn our own conclusion regarding the ratio analysis. We also have some recommendations stated in the end.
CHAPTER 2: ORGANIZATION
History of the organization(PRAN): PRAN means P- Program for R- Rural A- Advancement N- Nationality “PRAN” is currently the most well-known household name among the millions of people in Bangladesh and abroad also. Since its inception in 1980, PRAN Group has grown up in stature and became the largest fruit and vegetable processor in Bangladesh. It also has the distinction of achieving a prestigious certificate like ISO 9001:2000 and being the largest exporter of processed agro products with compliance of HALAL & HACCP to more than 70 countries from Bangladesh. PRAN is the pioneer in Bangladesh to be involved in contract farming and procures raw material directly from the farmers and processes through the state of the art machinery at our several factories into hygienically packed food and drinks products. The brand “PRAN” has established itself in every category of the food and beverage industry and can boost a product range from Juices, Carbonated Drinks, Confectionery, Snacks, and Spices to even Dairy products. Today, our consumers not only value “PRAN” for its authentic refreshing juice drinks products, but also for its mouth-watering quality confectionery products with high visual appeal and exciting texture. We intend to expand our presence to every corner of the world and strive to make “PRAN” a truly international brand to be recognized globally.
Mission:
- Being respectful of everyone.
- Being trustworthy by action. Being passionate and creative in all we do.
- Keeping things simple in the way we do things.
- Being ethical and transparent.
- Demonstrating individual and collective ownership.
Practicing an open culture in communication and interaction. As a uniquely Asian company, our goal is to catalyze progress in Asia by piecing together technology, connectivity, and talent – this brand is symbolic of our commitment to the industry, to the region Vision: PRAN is the largest grower and processor of fruits and vegetables in the country. Their contract growers cultivate the choicest fruits and vegetables which are processed in our modern and hygienic factories to the highest quality standards. They think the comparative advantage of their country as an economy lies in agriculture.
History of the organization (FRUTIKA): Akij Group is one of the fastest business conglomerates in Bangladesh. Founded by Late Sheikh Akij Uddin, the group started in a humble way through the trading business in 1940. Under his dynamic and charismatic leadership, the Group rapidly rose to the peak of success and has today 25 large Industrial and Commercial Units. Akij Food and Beverage Ltd are one of them. Akij Group launched in the local market three varieties of fruit juice under the brand name, “ FRUTIKA”.Mission, Vision, Goal Strategy: mission: As a concerned sister of Akij Group, the mission of AFBL is to surf the people’s best quality, social well-fare, etc. The mission of the Akij group is narrow Vision: profit increase, market share, and want to be the market leader. They also have the vision to create new job opportunities in the market. Goal: Akij group has an objective to full fill their mission and also increase the company growth with an adequate profit margin and moreover want to satisfy their customers.
Service, customer, Target Audience, and Market:
Akij Food and BeverageLimited want to satisfy all the customers. But it is very difficult to satisfy all. So in order to make sure the customer’s choice they have different flavors of juice named Frutika like mango, orange, and grape. Future Plan: Frutika is now a well-known brand. So AFBL has a plan to increase its profitability. They are looking for a new plant of the new flavor. They are thinking for come in the market with a 2-liter juice bottle. Future Plan of the Organization: Like every food & beverage company Akij Food and beverage limited also has a future plan. According to their plan, this company gives a strong effort for performing well. This company is performing very competently. They are always trying to ahead of their competitors. This activity indicates that they want to grab more market share day by day. History of the organization (ACME) ACME Group is one of the leading and diversified global conglomerates in Bangladesh, with offices in all major cities, employing over 3000+ employees and dedicated to bringing the highest quality products and services to our customers. The ACME Agrovet & Beverage Ltd. is an FMCG business venture to manufacture fruit juice, mineral water, and many more. These are manufactured and bottled in a state-of-the-art processing factory using the latest machines and Tetra-Pak facility.
The mission of the ACME group is a perpetual quest for excellence. Vision: ACME’s holistic approach is to ensure Health, Vigor, and Happiness for all by manufacturing quality products of the highest quality at affordable prices and expanding in the local and global market. Service, customer, Target Audience and Market: ACME, though a pharmaceuticals company, produce juice as a food product. The marketing process of ACME juice is different than the other products that ACME produces. These diversities are found in the distribution line, target, promotion strategy, pricing strategy, consumer relation, and so on. To identify the potential target market ACME runs a survey. For ACME juice the target market is the upper class and middle-class people. It includes the people who are health conscious and prefer juice to satisfy thirst rather than cold drinks.
Future Plan: ACME’s concern is that the happy health of consumers. They are buying new plants for innovative-safety packs for their juices. Shezan: Shezan is not our locally made juice. It is imported from Pakistan. In our local market, we get only the mango flavor of Shezan. The importer of the Shezan juice in our country is Nature Care.
CHAPTER 3: Findings and Analysis Research Approach The respondents for this study are consumers who are using toilet soap at home, living in Bangladesh.
Research is focused mainly on younger consumers. A small amount of elder consumers also presents in this survey. A pilot survey was carried out first and then questionnaires were used as a tool to collect required data. Sampling Method There are 10 questions about fruit juice and all brands were very familiar in Bangladesh. The questionnaires were distributed among the male and female consumers who live in Dhaka. The sample size was 30 and which covers all the brands used by different respondents. Data Analysis The statistical data analysis was done mainly thorough descriptive statistics, using the Chi-Square method. The SPSS software was used to execute the analysis process.
CHAPTER 4: Conclusions and Recommendations
CONCLUSION
The fruit juice companies in Bangladesh is consists of a few producers. The demand for this product is very much vulnerable in terms of pricing. All companies are trying to give their product at a price that is affordable to most of the people in the country. Fruit juice is an uprising product in Bangladesh as a greater portion of the population, in summer the fruit juice demand increases. There are many fruit juice companies (pran, acme, Zhejiang, fruit a, etc. has been able to penetrate the market with heavy promotional activities. With different flavors, different bottles, and packet sizes, different brands, different prices, different quality, have been highly successful in their fields. Its distribution process is highly efficient. It has a huge availability around the country. We have found that usually, the children love to take it. We found out that mango is a very popular flavor. Though the children love this, the age-old people also have an interest in it. People find it as a popular medium of drink. As ours is a mainly summer based country, so we see its demand for the scorching heat.
Recommendation for fruit Juice: fruit Juice should emphasize taste because most of the buyers prefer the juice which tastes better. Fruit Juice can have a wide range of flavors as consumer taste varies. Fruit Juice should launch more attractive advertisements to attract consumers. Fruit Juice can sponsor various programs to be promoted? Rebate or other types of cash offs can be offered to increase sales? There should be separate segmentation and targeting for kids as kids motivate their parents to buy fruit Juice? Explanations of experts can illustrate the purity of fruit Juice which will clear consumer doubts.
