Formal project plan for implementation of Recommendation:
Shokti plus Yougurts is a product of grameen food enterprise and it becomes first investment in Bangladesh. Grameen Danone foods in the grameen food enterprise first partnership with a multinational cooperation with first investment in dairy processing and changed its name grameen food enterprise to Grameen Danone food Ltd. Now a Grameen Danone food Ltd is one of the leading companies in Bangladeshi market. To make the task easier the company and the management team of the company established their own Factory and headquarters in Bangladesh. Using own country human resource the company gets huge success in production as well as service. We are summarized some little bit condition about Bangladesh market to understand how a formal project plan can be implemented that helps to enter into international market named Nigeria. So we have mentioned earlier Grameen Danone Foods Ltd. Product shokti plus Yougurt is going to expand their business in Nigeria in federal republic of West Africa. So it is necessary to determine the year in which we are going to launching the product finally. Our main target market is basically Kids and health conscious people. Our product will be available in different flavours like Banana, Apple etc. As Nigeria is the world’s 3rd largest youth population country as well 90 million of population under 18 aged. As our manufacturing factory in Bangladesh for this reason we have to joint our business with integrated Dairies which is a Nigerian company. To have a better distribution channel system it will be an effective plan. In our starting year we have planned our distribution channel started working in the most rural areas near the capital city of Nigeria called “ABUJA”.
Before we launching business in Nigeria according to our plan we have to need 6 months to cooperation with Integrated Dairies with all agreement. Since Grameen Danone Foods Ltd product Shokti plus Yougurts is forecasting commence its business on 10th march 2019. We need to start our promotional activities, product improvement, working conditions and related task. This will give us enough time to set up the potential market. Our company will be managed by Bangladeshi people those hold top management team as well as combination of joint venture company employees of integrated dairies. We will be using most of the labor from host country and top management of home country. So that they will guide them.
Before launching our business some key strategies we have to take:
A. Take skilled employee from host country
B. promoting our product by using English, Hausa and Igbo language.
C. Organizing promotional activities in rural areas for better understanding D.
D. Giving free test to kids and health conscious people so that they actually compare with other products.
Our product is available for one category of customers
Business to consumer user like kids and health conscious people
Monitoring of Action plan and formal contingency plan:
After launching the product in Nigeria market now it’s time to check how the product is actually run. To get the best outcome and make the process more effective we should adopt monitoring plan. It brings the productivity and the capacity to grab the Nigerian market. Our main focus is on maintaining strategic plan and marketing process including advertisement, campaign, company internal task etc. we have much emphasis on product quality as well as customer satisfaction. To take quick decision always communicates with top management department and expert as well. Observing and taking reviews towards customer experience about our product.
According the analysis of Nigerian market we have taken our objective and goals. Currently in Nigeria there are very few competitors in the similar industry but comparing them our product condition is good price is also reasonable. For 40gram product charge 30 naira, 60 gram charge 40 naira, 80 gram charge 50 naira. But in reality we cannot imagine before enter the market. If our competitor come up with new product variations. So we have to aware of it with contingency plan. If there any chance of failure occurs, so we have to prepare to handle the situation with recovery system. As our decision makers will be chosen from the top management department from the headquarters of Bangladesh. The starting year all things handle by home country. After passing 1 year than it handover to the host country management. If they properly doing everything well. Now the minor decision will be given by our joint venture company. As they know the condition of market better from us. When it comes to performance. We cannot be able to do business for this reason we cannot establish a proper standard. By setting up a standard we can easily able to take performance decision that goes well according to standard. But in practical situation it not happens all time. Some difficulties arise. So Grameen Danone foods Ltd have to maintain a standard in form of packaging, quality of product etc. the main goal of the company is to serve the fresh YOUGURT to kids and health conscious people. If the expectation go according to plan than set new goals to capture the market. If not than point out the problem and immediately work on it.
To set the pricing we have to follow market Skimming strategy. So that we can easily Grab the market share quickly.
Some initial information we have to know:
1. As we know that market will be changed over time, so we have to analyzing the market situation every month.
2. Observation and reviews should be carried out periodically
3. Before grab the large market we need to keep campaign and promotional activities always.
To be a successful in international market like Nigeria. We should more focus on our employee as well. How they behave with customers for this reason adequate training must be needed. Working condition is good or not for employees. If the employee gets insurance, incentive benefits it will make feel them like a proactive motivation to work by own. They can take all the challenges as well as our top management team help to face any causes of failure. By all efforts they can easily overcome any difficult challenges.