Context of Study
Objective of the study
Because I have been involved with Farm Fresh during my internship period, I will discuss this specific brand through the report. Most importantly, I'm going to describe Farm Fresh's branding initiatives and activities at AFBL.
Methodology of the study
The main objective of the study is to know the branding practices of AFBL through which a brand is developed and managed. Among them, one was a manager, one was an assistant manager, two senior executives were from the main brand department, and the rest were from the Digital Media, Trade and R&D department.
Limitation of the study
Organizations that have launched thriving products such as Apple and Microsoft have been credited with adopting the right product strategy for their products (Wall Street Journal, 2006). Consequently, it is essential for firms to recognize the impact of the product strategies formulated a product strategy is the critical vision of the product and confirms where the product will stop. When a product strategy is developed, it becomes easy for firm to determine the direction of the product efforts.
The role of product strategy is to establish a link between the company's product development and its business strategy (McGrath, Anthony and Shapiro, 1996) and, according to McGrath (2000), ensures that the company and its products are engaged in the right markets. from a strategic point of view. Product strategy is the result of making important decisions in the management of new product development (Krishnan and Ulrich, 2001; Mintzberg, Ahlstrand and Lampel, 1998). To provide quality food and beverages in the market and thus bring quality to the lives of consumers by fulfilling their needs.
The company's main objective is to increase market share within related diversified. Products in Bangladesh assure the potential customers of the quality and durability of the products.
Business Philosophy
To gain benefits by acquiring market share and creating a strong brand position in the minds of consumers.
Industry Perspectives
From the previous discussion you know that there are several international giants as well as strong domestic competitors in the market, so the competitive rivalry is very high. Since there are already several international giants as well as strong domestic competitors in the market, the possibility of new competitors entering is very low. But some competitors still did not bring substitute products, so it is a high threat of more substitute products coming in the market.
As the existence of competitors is very high in the market, the bargaining power of the suppliers must be very high, but AFBL manages to collect the raw materials themselves, for example they have their own mango pulp factory for the production of fruit drinks , in some In cases where they import, they maintain a very strong relationship with suppliers, which makes the job easier. Attend two trade shows per year and provide all necessary administrative support to the Marketing Manager and Director, including managing marketing materials, scheduling appointments and viewing company stands at times;. Perform administrative and related data entry duties and maintain organized files for the marketing team;.
Attend two trade shows per year and provide all necessary administrative support to the Marketing Manager and Director, including managing marketing materials, scheduling appointments and viewing company stands at times; and. Perform administrative and related data entry tasks and maintain organized files for the marketing team. Among the eight brands of AFBL, one of the flagship brands of AFBL is Farm Fresh.
It contains basically all dairy products like UHT fresh milk, (mango flavored, chocolate flavored), farm fresh pasteurized milk, farm fresh butter, farm fresh butter, fresh milk powder farm fresh farm yogurt (sweet, sour, low fat) . USP: Farm Fresh Collect pure organic milk from farmers and deliver its products to consumers after processing in the best possible way. It included dairy product suggestions from R&D specialists, consumers, sales force, suppliers, retailers, independent inventors, etc.
The potential products were selected first, such as Pastoral and UHT Milk, Ghee, Yoghurt, Butter, etc. Then the total business was analyzed to determine the potential of those products in the market, growth rate, strengths, financial and technical requirements, etc. to evaluate. Here are some of those dairy products were quietly marketed to know how those products will perform in real life.
Farm Fresh for a long time creates a certain position in the mind of the consumer by showing pure milk products. Market-driven pricing: Farm Fresh considers market-driven pricing by using a single price across the area.
Promotion
Connecting Brand Equity with Promotional Campaign
Farm Fresh also makes a Radio show on ABC radio with the, Fresh Mom n Me participants. Although this is a digital competition that runs through the Farm Fresh Facebook page, the top contestants get this opportunity to go on air at ABC radio. Farm Fresh used to sponsor many dramas and other programs on different occasions in different TV channels.
Where the Farm Fresh ad and logo were displayed and the name was advertised to attract attention. Farm Fresh Presents Euhssian Science AND Technology Fair’09 organized by Euhssian Science AND Technology Club at BUET Campus. Farm Fresh presents the biggest 10th English Debating Tournament 2013 hosted by Rajuk Uttara Model College.
Farm Fresh #EidFoodfie Contest: Where they inspire people to take a photo (Selfie) of their Eid food and upload it on the Farm Fresh facebook page. Profile Frames Campaign: These types of posts are created on different national days which inspire people to change their profile picture with Farm Fresh logo frame. Online Video Campaign (OVC): Farm Fresh also produces a lot of OVC related to hot topics or upcoming campaigns, which are also promoted to engage customers.
Other: During the year, Farm Fresh promotes a lot of still images, cycle videos, GDN (Google Display Network) to get impressions, achievements and views. 37 | P a g e with Facebook, Farm Fresh page, Instagram profile and some online news portals like Dhaka Tribune, KalerKantho, ProthomAlo, Bdnews24 etc. Importance: For investing huge money in promotional campaign like around 5 kernels every year, no doubt Farm Fresh is in the mind of people in Bangladesh.
So Farm Fresh is now entering the Powder Milk market to compete with many international giants. Farm Fresh has twenty SKUs (Stock Keeping Units), so; it is easy to capture the market by targeting more specifically, which is a threat to competitors. Farm Fresh is doing its best to build their brand equity by arranging more promotional campaigns and reaching out to more customers and customer interaction throughout the year.
Measuring Brand Equity Performance
38 | PAGE Focused Group Discussion: Farm Fresh here encourages the quantum research agency to have a focus group discussion where each participant provides factual information about the product, likes, dislikes and preference. Farm Fresh ensures the freshness and purity of their products through innovative operations and modern technologies such as Tetra Pak Automation Services. Besides pasteurized and UHT Milk Farm Fresh also focuses on other dairy products like ghee, butter, yogurt etc.
Since most of the people in Bangladesh are price sensitive, Farm Fresh here serves them better in terms of lower cost. Besides Chocolate and Mango Milk Farm Fresh is going to bring more flavored UHT milk like, Elachi Milk, Strawberry Milk, Coffee Milk etc. To build Brand equity, Farm Fresh is investing a lot in promotional activities like various discounts and combo offers to its customers.
Farm Fresh always remains active in digital media through the TTL campaign where they offer many different digital contests, games and activities for greater customer engagement. From the research, we find that despite huge investments in promotional campaigns, the brand value of Farm Fresh is declining compared to Arong and Pran Dairy, posing a major threat to the Farm Fresh brand. International giants such as Nestle, Arla Foods and New Zealand dairy products still failed to market dairy products.
For 12 years, Farm Fresh has been offering its customers a belief of pure and fresh source of dairy product. Segmentations and targeting should be done more specifically for all the SKUs of farm fresh. Distribution channel should be strong to make available all the SKUs in the specific target market.
For online delivery through Aladdin, all AFBL products, including Farm Fresh, give a small percentage discount per quantity to the customer. Farm Fresh can make many combo packs with its dairy products, which creates consumer demand. By integrating the “Voice of Mothers” Farm Fresh can factor their states and unspoken needs or requirements into all business decisions.
