Group Of Students Of University Of Central Punjab Choose Failed Product in the market and proposed a new marketing plan. We are Thankful to Our Prof. Rehan Mahmood for guiding us and teaching us marketing management core subject.
2. Acknowledgement
We started our project on Peek Freans to create a new market plan for its failed
product that is Biscuits. We analyzed its reason of failure and proposed
the new market plan for its relaunch. We learned many things during the
completion of the project. We are grateful to our Instructor Prof. Rehan Mahmood
who give us opportunity to show our creative ideas and thinking which we learned
from him during class lectures. Thanks for guiding us for right way.
3. References:
Product Images: Source Google.com
BCG Diagram: Philip Kotler Slides
English Biscuit Manufacturers: (Website Ebm.com)
One of our Prof. Muhammad Asad helped us by providing us creative ideas for
completion of our project
4.
5. Peek Freans:
Peek Freans is the name of a former biscuit making company based in Bermondsey,
London, which is now a global brand of biscuits and related confectionery owned by various
food businesses. Owned but not marketed in the UK and Europe by United Biscuits, in the
United States and Canada the brand is owned by Mondelēz International, whilst in Pakistan the
brand is owned by English Biscuit Manufacturers.
Peek Freans in Pakistan:
EBM (English Biscuit Manufacturers) found its roots in Peek Frean Pakistan Limited,
established in Karachi. In 1966, Peek Freans Pakistan Limited restyled itself as English Biscuit
Manufacturers (Private) Limited. It was more than just production of packaged biscuits; in 1967,
EBM began a revolution of quality, nutrition and flavor. EBM was on a mission to innovate:
enter Saltish, Pakistan’s first, instantly popular cracker. Breaking new ground year after year,
EBM pioneered branding and advertising on television in Pakistan; EBM was also the first to
sponsor TV shows. Peek Freans, and the iconic Pied Piper became a household name with the
‘Listen to the Sound of the Day,’ TV commercial. The first to introduce nuts to biscuits, EBM
launched Peanut Pik, a beloved brand still popular today, followed by Party and Peanut Pista as
part of its value-added range.
Vision, Mission & Values:
EBM’s vision and values lie at the heart of all we do. They inspire and guide us to the
best possible course of action and, ultimately, the best outcomes. Simple yet powerful, our vision
and values strengthen the company and its practices.
Vision:
To be the leading food company, delighting and nourishing our consumers with superior
products and services; while leading sales, shares and profits, thus allowing our people,
community and stakeholders to succeed.
Missions:
To provide wholesome, nutritious, hygienic food-between-meals across Pakistan and
beyond.
Peek Freans Value:
The four values that define EBM as a company form the centre of our practices
Leadership
Innovation
Vitality
Humanity
6. Launched in 1996, Ringo biscuits were fun to eat because you could put the biscuit on
your finger and munch away.
Old Packaging:
Reason of Failure in Market:
Some of the reasons that are behind the failure of this product are the packaging of this
biscuit was not attractive as compared to its name. Its name sound like for kids but its packaging
was formal kind and simple. The advertisement campaign for these biscuits failed because it
association was not clear and defined with anything. One of the main reason their advert
campaign failed because they did not identified their target market and cannot able to position
their product in customers mind. These biscuits were only available in Family pack so if any
individual want to eat cannot buy whole family pack. Ticky packs were not introduced.
Needs & Wants Peek Freans Aims to Fulfill:
Peek Freans aims to provide wholesome, nutritious, hygienic food-between-meals across
Pakistan and beyond. They found a profitable opportunity in Pakistan because here is a culture
that we like sweet and salty products as there was great market chunk that was to catered, so they
launched here in Pakistan. Some of their portfolio products that are generating good profits are
Sooper, RIO, Gluco, Nan Khatai, Butter puff, Peanut Pik, Marie, and Party etc.
7. Peek Freans Products BCG Matrix:
According to our market analysis of Peek Freans Products, we constructed a BCG Matrix as shown
above. These products are present in the portfolio of Peek Freans. These products are successful
in the market.
Macro-Environment:
Macro-Environment Includes:
Demographics
Economic
Natural
Technological
Political
Cultural
High market share Low market share
High industry
growth
Stars:
Sooper, Party, Peanut Pik, RIO,
sandwich biscuit
Question mark:
Chocolious, Whole wheat slices,
Nan khatai
Low industry
growth
Cash cows:
Gluco, Marie, Saltish
biscuits
Dogs:
Farm house cookies, Butter
puff,
8. Demographics:
Taking the whole product portfolio Peek Freans Demographics includes:
Gender: Male and female
Age Group: Kids ( 4-12 ) Teens ( 13-19 )
Adults ( 20-45+ )
Target all classes but placement of their products differs, like their peanut pista available only in elite
areas while party and peanut pik available to all areas.
Generational Marketing:
Peek Freans segmenting its customer by focusing more on lifestyle state instead of age,
by offering taste variation in products. Like Salty Taste, Sweet, Wheat Biscuit for Diabetes
patient.
Economic & Political:
Economic environment is smooth for FMCG products in Pakistan. Government imposes
tax but Peek Freans activities run smoothly.
Culture:
Peek Freans make strategies understanding the culture of the country and also the taste
that liked by people.
Natural:
Natural environment is quite good in Pakistan because it is blessed by 4-Seasons.
Pakistan is also blessed with good geographic location.
Primary & Secondary Reason for Failure:
One of the main reason for failure was they did not decide target market which leads to
the failure of . As it was the early start of 2000 so there was fewer concepts of
advertisement and less brand awareness. As media gets bigger brand preference gets build-up
and people build loyalty towards the brand. It was introduced only in family pack so no everyone
can buy it. Weak position of the product put customer in doubt and they cannot able to associate
product well in their minds.
9. Understanding the Industry:
Industry of biscuits is growing because as we can see recently Nan-Khatai biscuits
launched by Peek Freans. Nan Khatai as general assumed as sweet that is bit highly priced but
peek freans took opportunity and introduced in market to cater the gap exists. This will benefit
those people who do not have enough money to buy in bulk so they use this to serve to guests.
Competitor’s products are not really giving negative effect to the business because it’s a FMCG
products and customer want to eat immediate that is available.
Is Product offering distinctive advantage or not?
unfortunately didn’t able to give any competitive advantage over its competitor
because it wasn’t positioned well and its packaging was dull and not able to attract customers
well.
How we can make our product successful other than tactical execution?
To made the product successful using techniques other than advertising or promotion,
company should focus on using data collected through customer and making decision on that
basis. Making its research and development strong it can give competitive advantage to its
competitors. Building a team that will give creative ideas and help in strategy making.
10. New Market Plan
Objective:
For new market plan our objective will be is to revitalize the brand and to create an image
of as a fun time & lunch time biscuit for kids. And make Mothers aware of it is full of
Nutrition.
Challenges Expected For Our New Product:
Following challenges are expected for our new product in the market.
To create awareness and own place in minds of consumers.
Associate the Ringo with Fun of break time and Lunch in school.
Tell kids about its taste and fun hidden in the packet.
To make the demanding children happy with snack and healthy with nutrients.
Brand Idea behind our product:
The Idea behind our product is that it will relate to:
Open Fun & Masti
Its taste will be Crunchy and delicious
It will be full of nutrients, healthy for life
Also making kids feel it is fun to open the packet and taste the MaZay Daar Biscuit. Making mothers
realize we make your kids healthy even with a snack they would love to eat.
Target Customer of Our Product:
Target customer of our product will be the kids who want instant energy after playing
games or studying after class. Because kids usually don’t wait long for eat after playing. Also the
mothers who are worried about their children who do not eat and gets lazy or ill.
11. New Proposed Packaging for our Product:
Here is the new packaging that we designed for our product.
Advertisement Tools we will use for marketing of our Product
Bill Boards:
12. 3D Hoarding:
Food Magazines:
We will give ads in food magazine’s where we can reach mothers easily, who want to know
about nutrients in product, we will give nutrient chart in our advertisement in magazine’s
13. Mobile Bill Boards:
We will market our self by wrapping the school buses with our product image and logo.
This will create brand awareness between children which is our target audience. It will be
appealing for them and will attract them.
Wrapping School Ground Floor:
We will offer school to allow us to wrap their ground with our logo for our promotion.
14. Gondolas (Shelves):
We will offer schools canteen and retail stores our gondola for promotion of our
products. These shelves will be attractive and creative design.
Special Campaigns:
In this special campaign we will make a promotional strategic alliance with a theme park
named as a Land. We will take school kids on a trip to this park where they can enjoy a
one day trip. We will make their day full of fun by offering them different rides. In starting
School selection will depend on revenue they are generating for us.
15.
16. Branded Entertainment:
Last but not least we will market our Ringo Biscuits by launching a branded
entertainment campaign which will be named as Ringo Wala Jin. Just for example like Safe
Guard has Commander Safe Guard, we have Ringo Wala Jin in which we will show that our
biscuit have nutrient power. Kids will eat and Ringo wala Jin come and help the kids. This will
be aired on Ary Digital Channel.
Our Tagline:
“Ringo Khol Mazay May Bol”