Subject: Submission of an internship report on “An Analysis of the Marketing Activities of Believe Pte Ltd”. This is to confirm that the internship report entitled An Analysis of the Marketing Activity of Believe Pte Ltd has been prepared by Saad Bin Gausal Anam Fahad, ID as a requirement of the BBA program under the Department of Business Administration and the Faculty of Business and Entrepreneurship of Daffodil Internationale University. Mohammed Masum Iqbal Department of Business Administration Faculty of Business and Entrepreneurship Daffodil International University.
I, Saad Bin Gausal Anam Fahad with personal ID number, Bachelor of Business Administration (BBA) student, Bachelor of Marketing from Daffodil International University, hereby declare that the internship report on “Analysis of Marketing Activities of Believe Pte Ltd” was done by me. Business Development Manager of Believe Pte Ltd in Bangladesh for offering me the opportunity to work with them and gain a lot of experience in a real business environment. The third part deals with the marketing activities of Believe Pte Ltd and the fourth part includes the SWOT analysis followed by the findings, recommendations and conclusions in the last part.
Believe Pte Ltd is a Singapore-based global FMCG conglomerate that provides market-ready solutions for customers by considering their needs and designing products that suit their culture and lifestyle choices. Believe Pte Ltd started operations in mid-2019, during which time Believe Pte Ltd has cumulatively raised over US$. In this short period of time, I have tried to identify the various marketing activities of Believe Pte Ltd.
So in this report try to discuss the marketing activities and gaps they can reduce.
Research Methodology
Secondary Sources
Limitation of the study
In any case, working with a larger sample size was unrealistic due to lack of time and opportunity. Extensive research is not possible due to the organization's restrictions and limitations, so it takes a long time to become an expert in the company.
Chapter Two
Overview of The Company
- An overview of the Organization
- Brands of Believe Pte Ltd
- Mission & Vision
- CSR (Corporate Social Responsibility)
They operate their business in over 8 countries and they manufacture all over the world including countries like South Korea, Italy, Spain, Germany and UAE. Started in mid-2019, Believe Pte Ltd has generated tremendous growth in its relatively short history, impressing investors and raising more than $80 million in total over the past two years. Believe has achieved extraordinary impact and growth in a short period of time with its brands targeting worldwide markets in the BPC category.
With its unique positioning of pure halal-based products (free of alcohol and animal additives), it has addressed the latent need of a wide target market in a highly focused manner. Lafz: Lafz is a culturally conscious, ethical brand that creates world-class cosmetic and personal care products using ancient Egyptian beauty secrets, current technology and exceptional ingredients. Zayn & Myza: Zayn & Myza is a young, energetic and conscious business dedicated to simplifying beauty and skincare for the younger generation.
Dr Rhazes: They are about the peace of mind that can only be provided by a strong science-based innovation. They offer a variety of personal care and home care services to keep your family safe and your mind at ease. Mission: Believe has achieved tremendous traction and growth in a short period of time with its brands targeting markets worldwide in the BPC space.
It addressed the latent need of a broad target market in a very concentrated manner with its unique positioning of halal-based clean products (free from alcohol and animal substances). The purpose of the Believe Foundation is to share good with society by making it better. So, a portion of the money they make from customer purchases goes to help a number of poor children get an education.
They are working with Need Base India (a Child Care and Development foundation) is a non-profit organization. Nobottom Foundation located in Bangladesh works for vulnerable and underprivileged children in Bangladesh. And also, with ASROY Foundation & Welfare Trust and SACO a voluntary non-governmental organization working for the cause of intellectually disabled persons.
Chapter Three
Marketing Activities of Believe Pte Ltd
Marketing strategy of Believe Pte Ltd
- Market segmentation
- Geographic Segmentation
- Demographic Segmentation
- Behavioral segmentation
There is a market segment where you can make money if you market the product well. The process of dividing a group into smaller groups based on a set of rules is called segmentation. Geographic segmentation divides the market into geographic units such as countries, states, regions, cities, and neighborhoods.
In Demographic Segmentation, the market is divided by things like age, family size, family life stage, gender, income, and education. How people act, what they use, what they like, what they choose and how they make decisions are also used to segment the market. Usually, the segments are divided into two groups based on how much they know and how much they use the product.
The audience can be divided into Personality, lifestyle and attitude are used to divide people into psychographic segments. What it's about: The idea behind the segmentation method is that a person's personality and lifestyle can influence what they buy. They initially target East Asia and Middle East countries to sell their products, their global audience is Muslims they sell halal and vegan products.
They have nicely segmented their product based on the different lifestyle through the eight countries based on their usage choice and purchase decision. Muslims are not allowed to use the products that have alcohol or haram animal ingredients used on the products. People boycott the brands that test their products on the animal, so Believe Pte Ltd all products are PETA certified.
Target Market
- Undifferentiated Marketing
- Differentiated Marketing Strategy
Since it is impossible to make different quality levels of the same product, they decided to market it in the same way. Their customers may buy the same product but they have made their product different by making it in different sizes, shapes and brands with different price ranges. That is why this product is called "differentiated". Thus, they market their products to different types of consumers.
Positioning
- Product
- Price
- Place
- Promotion
Where there are already many companies on the market, they know that they have to make good products to stay in business. They also ensure that their prices are competitive while ensuring the quality of their products. The growth phase. the maturity phase and the sales decline phase are all parts of a product's life cycle.
When sales begin to decline, it's important for marketers to change their products to appeal to more people. They make their products based on their specialty like the K-Beauty products they make in Korea. They have different shades based on skin colors of different countries and regions 2) Eyes: A. Pen Liner.
They have both body spray and perfume for men and women and perfume sachets or perfume for different types of occasions and different taste buds of people. The price of a product is essentially how much a customer must pay to obtain and use it. It is also a very important part of a marketing plan because it determines whether or not your business will make money and stay in business.
The price of the product has a huge impact on the overall marketing plan and many other things that affect how many people buy and sell the product. If the price is too high, consumers will avoid the product because they will believe that it is expensive, but if the price is too low, they may believe that there is something wrong with the product that it is so cheap. This is only possible if the company knows a lot about the people it wants to sell to.
They distribute their products to their distributors and they have sales representatives all over the country to sell their products and retail or modern trade like Swapnno, Agora, Mina Bazar etc. Recently they have invested in an e-commerce platform named OHSOGO they sell beauty products, skin care and personal care products. In the context of the marketing mix, promotion represents the various aspects of marketing communication.
That is, communication of information about the product with the aim of generating a positive customer response. Promotion is a very important part of marketing because it can help people know a brand and increase sales.
Chapter Four
Problems, Recommendations and Conclusion
Problems Identified
Recommendations
Believe Pte Ltd is one of the companies that has created a large presence with its excellent products and offerings. The company always does its best to develop new ideas and introduce new products to the market with a wide range of marketing activities. It is difficult for the company to showcase a new product because market needs and approaches are constantly changing.
The most important results of the study are: The number of marketing campaigns is less now. There is also a lack of planning that is both dynamic and effective when it comes to marketing strategies. As it is a multinational company, it is really important that there is no communication gap in the organization and other important people are not doing enough to help promote the product.
Based on what I found, Trends in marketing around the world shows that traditional marketing is giving way to digital marketing. The number of people doing business over the internet is growing rapidly all over the world and India is no different. You can find and compare a wide range of goods and services based on their features, functions and prices, which can help you decide what to buy.
They have an excellent supply chain and marketing team which has given them a strong position in the market.
