Table Of Contents

1.0 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1- 2
2.0 Situation Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6-12
2.1 Market Summary
2.1.1 Market Demographics
2.1.2 Market Needs
2.1.3 Market Trends
2.1.4 Market Growth
2.2 Industry Analysis and Distribution
2.3 Market Analysis
2.4 SWOT Analysis
2.4.1 Strengths
2.4.2 Weaknesses
2.4.3 Opportunities
2.4.4 Threats
2.5 Competition
2.6 Products Offered
2.7 Keys to Success
2.8 Critical Issues
3.0 Marketing Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12-14
3.1 Mission
3.2 Marketing Objectives
3.3 Financial Objectives
3.4 Target Markets
3.5 Positioning
3.6 Strategies
3.7 Marketing Mix
3.8 Marketing Research
4.0 Financials
14-16
4.1 Break-even Analysis
4.2 Sales Forecast
4.3 Expense Forecast
5.0 Controls
5.1 Implementation
5.2 Marketing Organization
5.3 Contingency Planning

16-17

1.0 Executive Summary

Introduction

Fish world is a family start-up business that specializes in producers of best

quality vacuums packed Boneless Fishes Products and dried fishes. Fish
world will penetrate the fish industry with innovative, first to market; highquality packed and dried fishes. Fish world will establish its own routes in the
Southern and Central region. With the establishment of one strategic alliance
with a national brand name in either of its vending lines, fish world expects to
easily exceed the financial forecasts.
The Company

We see ourselves reaching more people and creating more enjoyable culinary
experiences with our fish products. We are continuing our endless pursuit to
marry tradition with innovation by coming up with products that suit our
patrons, who value good quality fish. We see ourselves tapping more markets
both in the Bangladesh, Asia-Pacific and the Middle East. We seek sustainable
growth and help improve the lives of people in our region.
Fish World's mission is to be the leader in introducing innovative, quality
Boneless and dried fishes to the market. Through close customer contact and
excellent relationships, Fish World will meet the needs of the customers. Fish
world, is a privately-held Bangladeshi corporation and maintains an office in
Dhaka and three small warehouses in a mixed-use area of Teknuf, Mangla
and Brishal. Three of the four investors in the company have full operational
responsibility. Shanchita Shitu and Uzzal Rahman, the co-founders, have both
entrepreneurial

and

industry experience.

Rashel

Ahmed Rony

brings

operational management, marketing, and financial skills to the operation.

The Products

Fish world will have three product lines, for the markets it serves. The
boneless big fishs line will include the unique Hilsha, Rui, Pangash, Telapia,
carp, catfish and the multi-line sea fishes. The dressed up small fish products
will be Bele, Tangra, Kachki, chapila, Kajoli etc. And the dried fish will
include all the fishes demanded in the market.
Most of the products, such as the boneless big fishes and dressed up small
fishes are produced in innovative machines that have functions and
advantages not found in today's common machines, thus providing Fish World
a competitive advantage over more established competitors.
Fish world plans to aggressively enhance the existing line in the future. The
immediate plans are to include a larger model of Sandwich Express that will
offer a greater variety of sandwiches, and a more diverse product line, such
as pizza. Other products are in the exploratory phase.
Fish World is also pursuing supplier relationships with large local fisheries
and dry fish manufacturers, to customize the machines to their products. This
would enable Fish world to supply fishes to national retail stores and allow
them to brand the fishes with their product lines.
The Market

The demand for fish is increasing very fast because of peoples increasing
awareness of the importance of taking more of protein in their daily food
intake. The demand for food in Bangladesh and around the world is changing
rapidly. Driven by economic growth, rising incomes, and urbanization,
demand is shifting away from traditional staples toward high-value food
commodities. With the rapidly expanding world population and limited size of
the

food

resources,

it

is

becoming

increasingly

important

that

all

harvested/captured fish and shrimp resources be fully utilized especially for

human consumption.
Global demand for fish and fish products is rapidly increasing day by day.
There are three major markets in the world, the EC, Japan and USA.
Consumption of fish products in the EC market has been growing faster than
the USA and Japan.

All of this indicates that a fast moving, innovative company that can introduce
enhanced products to frozen/dried fish customers stand to gain significant
market share in a relatively short time span.Fish world will market its
products to three distinct market segments including: distributors, retail
stores and local department stores, and end users. For the boneless fishes
and dressed up small fishes business fish world will focus on local
restaurants, Chinese hotels and catering service companies.

Financial Considerations

The company has an initial start-up cost of approximately BDT 120,000,0000

of which BDT 60,00,000 will come from a ten year SME loan. Short-term
borrowing will provide Fish World with an additional 20,00,000 and the rest
will be provided by investment capital.

Annual Sales Forecast

Distributor
Retail Stores
End User
Total Sales

Sales Forecast
2010
2011
16425000
32850000
21900000
43800000
16425000
32850000
54750000
109500000

Direct Cost of Sales

2010
2011
Distributor
11497500 22995000
Retail Stores
15330000 30660000
End User
11497500 22995000
Subtotal Cost of Sales
38325000 76650000

2012
65700000
87600000
65700000
219000000

2012
45990000
61320000
45990000
153300000

2.0 Situation Analysis

Fish World is in its first year of operation. Its products have been in strong
demand from initial contacts with end users and distributors. Marketing will
be critical to continue to generate significant demand for the products. The

basic market need is for high quality, innovative and ready to consume fish
products.

2.1 Market Summary

Fish World has captured good information about the market and knows a
great deal about the common attributes of the target customers. This
information will be leveraged to better understand who is served, their
specific needs, and the best way to communicate with them.

Target Markets

Target Market Forecast

Potential Customers
Distributor
Retail Stores
End User
Total

Growth
50
100
100
83.33

2010
20
100
54750
54870

2011
30
200
109500
109730

2012
40
300
219000
219340

2013
50
400
273750
274200

2.1.1 Market Demographics

The profile for Chef Vending consists of the following geographic,
demographic, and behavior factors.

Geographics:

The immediate geographic target is the Dhaka and Chittagong city.

A 550 mile radius is in need of the products.
The total targeted population is 54,870.
Demographics
Families.
A household income over BDT 20,000 per month.
Busy office going families
The distributors serve higher-end restaurants.
Convenience Retail stores in locality

Behavior Factors
Busy service people and the peoples dont eat fish because of bones.
Practice changing food menu inside the home.
Do not eat out much because of the difficulty of finding dressing small fishes at home.
Appreciate high quality, innovative food offerings.
People dont buy dry fishes for the smells.
2.1.2 Market Needs
Fish World is providing its customers with a progressive menu offering of fish items which is
innovative in market like boneless big fishes and dressed up small fishes. All of the products
have first to market features not found on competitors offering. Chef seeks to
fulfill the following benefits that are important to their customers.
Innovative features: There are lots of fisheries and fish marketing
companies on the market, but the product fish world is offering by adding
value with fishes are unique in the marketplace, which customers demand
innovation as a competitive edge.
High-quality fish products: Current fish market are not normally
synonymous with high quality food products, Fish World is changing this
perception.
Selection: A wide selection of menu items.
Customer Service: Customers will be impressed with the level of attention
that they receive.

Competitive Pricing: All of the offerings will be competitive relative to the

true competitors found in Dhaka and chittagong. Fish world will take the first
mover advantage.
2.1.3 Market Trends
Growth rate in the fisheries industry remain strong. This growth is fueled by the changes in the
workplace and workforce that are causing service workers more busy and to consume more of their
meals easy and convenience manner. Boneless and dressed up small fish sales are expected to
increase by 83%.
As more and more consumers eat away from home, there is increased
demand for higher quality value added products. Vendors are now offering a
full line of packaged frozen meals in their machines. Margins will increase as
premium prices are being placed on branded, high-quality products.
Demographic trends are affecting the industry. A large group of young adults
and service holders, who mainly grew up on fast food, have emerged as an
economic force. This group's perceptions on fast food, technology, and
vending, will have a positive impact in the value added fisheries products
offered by Fish World. Furthermore, overall population growth rates, and
immigration trends particularly, will also have a tremendous economic impact
on the industry. Fish world will take the advantage of the untapped market
through the followings:
Quality of the products: The preference for higher-quality ingredients is increasing as
customers are being subjected to better value added fishes.
Innovative creations: More innovative items are being demanded as people recognize that
a fish does not have to be dull just because it is easy to cook and eat.

Market Forecast

2.1.4 Market Growth

As Fish World comes up with new and innovative value added product thus its introduce a
new industry in the existing fish industry of Bangladesh. Studies conducted by the FAO reflect
an industry growth rate of approximately 83% over the next five years, matching the overall
growth of the economy.

2.2 Industry Analysis and Distribution

Bangladesh at the time of its independence in 1971 had only 15 fish

processing plants. The number of processing plants had increased to 145 by
2006. The unplanned growth of such plants exceeded the potential of raw
materials

resources

encouraging

unhealthy

competitions

amongst

the

processors, thus resulting in loss of quality and international marketing good

will. Moreover, due to a ban by the European Union (EU) in 1997 many plants
went out of operation. So far 72 Processing plants were issued license by
Department of Fisheries (DOF) after modernization until 2006, out of which
60 plants are EU approved. About 20-25 (30%) plants are involved in
production and export of value added fish and shrimp products and more
plants are likely to go for product diversification in near future.

2.3 Market Analysis

In Bangladesh, there exists an acute protein deficiency mainly due to
insufficient supply of protein food products viz. milk, eggs, fish and meat as
well as low purchasing capacity of the consumers. At least one-third of total
per day per capita requirement (about 22 grams) of protein should come from
animal sources usually in the form of milk, eggs, fish and meat. As per report
of FAO/UNDP mission per capita protein consumption in Bangladesh has
been only 6.1 grams of which only 3.0 grams come from animal sources. Of
this 3.0 grams, 1.5 grams come from meat, 1.4 grams from fish and 0.1 gram
from eggs. This alarmingly low level of protein consumption is due to
insignificant supply and low per capita income of the consumers in
comparison to market prices.
The amount of fish eaten by the Dhaka people is also huge. Around 700
tonnes of fish are sold at about 29 wholesale markets of the city per day. The
wholesale fish markets in and around Jatrabari alone sell some 250 tonnes of
fish every morning while Kawranbazar is second largest, with daily sales
amounting to 200 tonnes.
Fish and fish products are also regular food items of the people of other
countries. Presently about 10% of the total export earning in our country

comes from the export of fish and fish products of which 90% from shrimp
and 10% from other fishes. As a result the Government, Cultivators,
Processors and Exporters are giving a great deal of emphasis to fish culture
and export of processed fish. Accordingly the government provides all sorts
of facilities in this regards.
2.4 SWOT Analysis
The following SWOT analysis captures the key strengths and weaknesses within the company and
details the opportunities and threats that the industry faces.
2.4.1 Strengths

Strong relationships with local fisheries and farmers.

Excellent product line.
Seasoned management team.
Excellent staff who are highly trained and very customer attentive.

2.4.2 Weaknesses
Lack of brand recognition because Fish World is a start-up
organization.
The need to take on debt to get the business off the ground.
Fish World's new and innovative products do not have a lot of visibility
in the Bangladesh yet.
A limited marketing budget to develop brand awareness.

2.4.3 Opportunities
Participation in a growing market with a significant percentage of the target market still
not aware of Fish World and its products.
The fish market, while some what affected by economic downturns is largely immune
because food is a basic necessity.
The steep learning curve that kosher food can be creative.
The steep learning curve that kosher food can be creative.

The ability to develop many long-term customers because of a close-relationship with

community.
2.4.4 Threats
Heavy equipment makes regional distribution more difficult.
High capital costs.
Future/potential competition from a national company.
2.5 Competition
Fish is an essential item of our food list. It is the main source of protein. But
the supply of fish is not sufficient compared to its demand. Bangladesh is a
densely populated country. Its population is growing rapidly but the culture
and production of fish is not growing proportionately to the growth of
population. So the gap between supply and demand is increasing day by day.
Moreover, supplies of fish from natural sources are decreasing and no serious
competition in near future is expected.
Developing value added fishery products in Bangladesh needs urgent
attention of the Government. The processing industry and the quality control
agencies. It is vital in respect of export as well as local marketing. More
foreign exchange can be earned through exporting value added products in
place of traditional fish and shrimp products. On the other hand less popular
low cost under-utilized fish, small shrimps etc can be made popular and
acceptable to the urban well to do class through value addition.
As the technology used by Fish World is available there is probable chance
that some of the big fisheries and aquaculture firms will turned into boneless
and dressed up fish marketing. Thus some of the probable competitors will
be:
1.
2.
3.
4.
5.
6.
7.
8.
9.

Gachihata Aquaculture Farms Ltd.

Dhaka Fisheries Limited
Prabhati Fisheries Limited
Beg Fisheries Limited
Charipara Integrated Fisheries Ltd.
Cat Fish Limited
Cresent Farming Complex Ltd.
Aftab Bohumukhi Farms Ltd.
Al-Amin Fisheries Ltd.

2.6 Products Offered

Fish world will have three product lines, for the markets it serves. The
products are discussed below:
1. Boneless Big Fishes: There is one machine for producing boneless
fishes with maximum capacity of 2 ton of fish processing. According to
the market demand forecast Fish World will introduce new lines soon.
With the existing capacity Fish world will targeted to produce at least
500 kg boneless fishes per day in various categories. Initial categories
are:
Hilsha
Rui
Telapia
Pangash
Carp
2. Dressed Up small Fishes: There is another machine for dressing
some small fishes. Meanwhile dressing up fishes will require manual
handling more than 50%. Thus two cover the demand labor cost should
be changed. In the initial stage dressing up small fish line will be
the following categories:

Tangra
Chapila
Bele
Kachki
Mola and Dela

3. Dried Fishes: In the third category there will be packed and fresh
dried fishes of all kinds. Thus our packing machine will allow it possible
to market the dried fishes in vacuum packages.
2.7 Keys to Success
As a start-up company, new to the industry, and introducing new products,
Fish World must be focused and work hard to create acceptance for the
brand and products within the marketplace. The keys to success are:

Quality support and service, recognizing that Fish World's success

depends most critically on the relationships it's able to create.

Innovative, quality products that are able to both expand existing

markets and create new ones for customers.

Steady, disciplined pattern of growth.

Fish World's customers and keeping them happy.

2.8 Critical Issues

Fish World is still in the speculative as a start-up organization. The critical
issues that it faces are:

Pursue controlled growth that dictates that payroll expenses will never
exceed sales revenue.

Constantly monitor customer satisfaction, ensuring that the growth

strategy will never compromise service and satisfaction levels.

3.0 Marketing Strategy

The marketing strategy will emphasize the strengths of both the company
and the products. Fish World will position itself as an aggressive, innovative
company that supplies the market with new, high quality value products. Fish
World will position itself in trade shows, within industry publications, and the
Internet, to reinforce this marketing strategy. The brochures, letterhead, and
business correspondence will further reinforce these concepts.
Fish World recognizes that it costs six times more to attract a customer than
to retain one. To that end, Fish World will operate under the principle that
the best marketing is an exceedingly satisfied customer. While the industries
Fish World operates in are large, reputations play an important part.

3.1 Mission
Fish Worlds mission is to be the leader in introducing innovative, quality
value added fishes to the market. Through close customer contact and
excellent relationships, it will meet the needs of customers wherever it can.

Fish World will secure sufficient profits from operations, to sustain its
stability and finance future growth. We will add value to our community by
maintaining a friendly, familial work environment.

3.2 Marketing Objectives

Maintain positive steady growth each month.

Increase market penetration every quarter.

Decrease the market expenses as a percentage of sales.

Experience an increase in new customers who are turned into long-term customers.

Generate increased brand awareness quantified by reactions/feedback

of customers at the advertisement, internet and trade shows.

3.3 Financial Objectives

Decrease customer acquisition costs by 1% a quarter.

Reduce the variable operating costs.

Continue to decrease variable costs through efficiencies gained from

experience.

Increase profit margins by 0.5% per quarter.

3.4 Target Markets

Fish World will market its machines to three distinct market segments:
1. End users: The consumers of the product are two categories final
consumers and the restaurants and hotels. It also included large
institutional food service companies. Fast food retailers are also the end
user of our product.
2. Distributors: There will be regional distributor at the initial stage who
will supply it to the retailers or the others customers.

3. Retail Stores: Our own transportation will distribute the product to

the big retail stores around the Dhaka and Chittagong city.
3.5 Positioning
Fish World will position itself as an innovative, high-quality value added fish
manufacturer and supplier. In additional Fish World want the high
recognition as a unique service provider in the market. To achieve this
positioning, Fish World will leverage its competitive edge.

Fish World will enjoy the traditional benefits of first to market. Fish World will
attempt to leverage this position to establish and solidify the brand in the market. As a
small company looking to establish itself, Fish World will be attentive and flexible in
meeting the customer's demands.

For Fish World products, they have design features that will make them very
competitive. In addition to these design features, Fish World will also be competing
on price.

Fish World is approaching the market as if there will significant competition between the
different value added fish providers soon. By making customer satisfaction and continuous
development in the product category a priority, over time, local customers will come to
appreciate the attention that their needs are given and form a long-lasting relationship with
Fish World.

3.6 Strategies
The single objective is to position Fish World as the leader in value added fish industry in
the Bangladesh. Fish World will strive to aggressively increase its market penetration. The
marketing strategy will seek to first create customer awareness regarding the offered
products, then develop the customer base, and finally work toward building strong customer
loyalty.

The message communicated will be that Fish World offers the best quality
boneless and dressed fishes. The first method of broadcasting the method is
Television and newspaper advertisement. The second method will be
distributor open houses. The third method is the development and use of Fish
World Internet website. The last method of communication that Fish World
will be using advertisements in trade publications and participation in trade
shows.
3.7 Marketing Mix

Fish World marketing mix is comprised of the following approaches to

pricing, distribution, advertising and promotion, and customer service.
Pricing: Fish World 's pricing scheme is designed to be competitive while
still providing Fish World with a fair margin. With the passes of experience
curve Fish World can reduce its price continuously which will give us another
competitive advantage over time. And surprisingly fish world will follow the
stable going rate pricing policy in the initial stage.
Distribution: All of the products can be distributed within the Dhaka and
chittagong city in the initial stage. But Fish World will continuously try to
broaden its reach.
Advertising and promotion: Fish World will employ several different
strategies for its advertising and promotion campaign. Fish World will also
take order through internet thus provide internet advertisement also.
Customer service: Exceptional customer service is a necessary component
for making this business successful.
3.8 Marketing Research
During the initial stages of the marketing plan development, Fish World held
several focus groups with perspective customers. These focus groups were
developed out of interactions/introductions made at the regional trade show.
The goal of the focus groups was to solicit a significant amount of information
from perspective customers.
Fish World was very careful with the facilitation of the focus groups,
attempting to insure that the results were as valid as possible. The groups
ranged in size from seven to nine people. The focus groups were video taped
to allow Fish World to review them more carefully at a later time. Overall, the
focus groups provided Fish World with a wealth of information that was
instrumental in launching and growing the business.

4.0 Financials
This section will offer a financial overview of Fish World as it related to the marketing
activities. Fish World will address Break-even Analysis, Sales Forecasts, Expense Forecasts,
and how they link to the Marketing Strategy.

Break-Even Point (units) =

33,333

Total Fixed Costs

Variable Cost per Unit
Sales Price per Unit

Break-Even Point ($'s) =

TFC =
VCU =
SPU =

$10,000,000

BDT 1,000,000
BDT 270.00
BDT 300.00

4.2 Sales Forecast

The following chart and table reflect the forecasted sales for Fish World. Fish
World is forecasting significant sales growth for the products and for the
vending routes that Chef will establish and manage itself.

4.3 Expense Forecast

Marketing expenses will be budgeted so that they initially ramp up and then
re-ramp up over the course of the year. The expense forecast will be used as a
tool to keep the organization on target and provide indicators when a
modification or correction is needed.

5.0 Controls
The purpose of Fish World's marketing plan is to serve as a guide for the
organization. The following areas will be monitored to gauge performance:

Revenue: monthly and annual, based on planned compared to actual.

Expenses: monthly and annual, based on planned compared to actual.

Customer satisfaction, to generate repeat business and referral activity.

5.1 Implementation
The following milestones identify the key marketing programs. It is important to accomplish
each one on time and on budget.

Jan
Tasks
Marketing Plan
Completion
Television Advertisement
Newspaper
Website Development

Start

End

24.12.08
1.1.10
1.1.10
1.1.10

24.12.08
31.12.10
31.12.10
30.03.10

Feb

Mar

Apr

May

2009
Jun Jul

Aug

Sep

Oct

Nov

Dec

Trade Publication
Trade Shows Campaign 1
Trade Shows Campaign 2

1.11.10
1.12.10

30.11.10
31.12.10

5.2 Marketing Organization

Tradecop a growing ad agency in Bangladesh will be responsible for all of the
marketing activities. The have long experience of the trade show campaign
for future participation and TVC making. The advertising campaigns will be
evaluated on a return on investment basis.
5.3 Contingency Planning
Difficulties and Risks
Problems generating visibility.
Importing issues that are beyond Fish World's control.
An entry into the market that adopts similar products.
Worst Case Risks May Include
Determining that the business cannot support itself on an ongoing basis.
Having to liquidate equipment to cover liabilities.