Index Information SummaryAbout ConionMarket DescriptionCompetitive ReviewSWOT AnalysisMarketing StrategyProduct Strategy:Pricing Strategy:Distribution Strategy:Marketing Communication Strategy:ConclusionExecutive SummaryConion rice cooker is a brand of freshly made rice cooker launched which is introduced in the market in August 9, 2017. This rice cooker is manufactured in China. Best Electronics Limited is the distributor of these rice cookers. This particular model of rice cooker (Conion BE 183A2BS) has a price of 2,104 BDT but from Best Electronics you can buy it at the promotional price of 954 BDT (discounted price). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original Essay The capacity of Conion BE 183A2BS rice cooker is 1.8 liters and this rice cooker consumes a power of 700 watts. This particular model of rice cooker has a very attractive silver metal colored body with designs engraved on it. Its feature also includes automatic temperature control system, inner pot with non-stick coating and sealed pressure structure. Best Electronics offers 1 year replacement warranty and 6 months service warranty. About Conion At Conion, we believe that pleasure lies in improving your home beyond one's imagination. We use the latest research and development techniques to ensure advanced, intuitive technology in our products that adapts to the changing needs of your lifestyle. With unprecedented exclusive advancements such as AQT A+ Technology, EyeCare, Magic Air Technology, 3D Aqua Wash, Dyna+Fresh Technology, Ultra High Speed ​​​​(UHS), Conion is strongly committed to continuously developing innovative technologies to provide you with the best solution and modern for your appliances and electrical needs. Welcome to our world of continuous improvement. Our mission is to produce the best quality products and provide them at the best price on the market. Our vision is to be the leading home appliance distribution brand of Bangladesh. Our aim is to serve every category of people of Bangladesh through our products at the minimum price. We are here to make people's daily lives simpler and easier. Market Description A target market simply defines the consumers or groups who are most likely to purchase a particular product or service. Various consumer characteristics are used to define a target market, including demographic and psychographic data, type and frequency of use, product benefits, and geographic location. So for this particular product we decided to target three customer bases after in-depth market research. Gender, Age, Relationship Status, Female26 to 40 Married Female 19 to 25 Single Male 20 to 26 Single Product Review In e-commerce, product reviews are used on shopping sites to give customers the opportunity to rate and comment the products they purchased, directly on the product page. Other consumers can read them when making a purchasing decision. Here we will highlight the review of using our particular product - Conion BE 183A2BS Rice Cooker.This rice cooker is much cheaper than other competing products in the market but it really does a great job in terms of cooking some foods like rice, khichdi, meat, etc. It has the characteristic of automatically turning off after a certain time when the food is cooked. And you get all these things at a cheap price. To make the purchasing decision easily, customers can also visit their website to see the customer review.Some of them are given below.Competitive ReviewWhen it comes to competition, Vision by Pran RFL has launched another product with the same specifications. While both the Conion and Vision rice cookers don't vary much in terms of quality, in terms of price the Conion rice cookers are cheaper. Although Conion offers the same features, but it does so at a very affordable price and comes with a one-year warranty. SWOT Analysis Strength The build quality and looks of these rice cookers are premium. The weight of a quality product can be felt at first sight. At this price range it is difficult to find a product like this on the market. It's not just a rice cooker, you can cook meat, pudding, khichdi, brownies, cakes, etc. This stove consumes only 700 Watts of electricity, which is really low in terms of other competing brands in the market. Weakness Since the stove was just introduced in the market, it has really low popularity compared to other brands. So initially it will be a challenge to sell the product. It cannot be used without electricity. Therefore, in case of load shedding, the consumer will not be able to cook. OpportunitiesConion offers the most convenient price for rice cooker customers. This way, once promoted to target customers, it can reach the best-selling product category. The company also provides a 6-month free service warranty and a 1-year product replacement warranty. So it will be a strong advantage for buyers. Since Bestelectronics is the distributor of these products, it can guarantee delivery within 24 hours to any corner of our country. Threats The increase in the number of competitors is always a threat, but since we offer the best and affordable price it can also turn into a strength because customers can now directly compare themselves with all other brands in the market. The biggest threat is that excessive use of this product can increase your electricity bill but it will still be lower than other brands because it is the most energy efficient cooker. Objectives Increase sales – To maximize profit the company must increase sales of our product Build brand awareness – The company must build brand awareness to let people know that this brand exists Increase market share – To dominate and control the market with our product we need to introduce a new model of rice cooker with better and better features Launch new products - To sustain the market we need to launch new products with new features and designs together or with the competitive brands Improve customer relations - Need to push establish a relationship with customers by staying in touch with them even after selling the product, this can be done by providing them with promotional codes or discounts on their products. Increase in Profit – A company cannot sustain the market without a profit, so it has to increase its sell volume and gets involved in promotional activities only after calculating the profit limit. Problem Competition: People in Bangladesh are gradually transforming their lifestyle in an automated system. So they started using many electronic products to make their life easier and simpler. Focusing on these things many companies have started to improvise their product chains with more and more electronic home appliances. One of them is Rice Cooker. In our Bangladesh market we can see that many rice cooker brands have started to establish themselves, such as Vision, Philips, Comet, Pride, etc. So, to survive this tough competition, Conion should focus more on pricing and promotional activities. Feasibility: It's realism.