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Marketing Plan. Launching a Karaoke Bar in Bangladesh

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Introduction

Project Report KARAOKE AVENUE Course Name: Introduction to Marketing (MKT 202) Semester: Spring 2012 Prepared For: Course instructor: Ruhaini Fatema Islam Course code: MKT 202 Sec: 14 Prepared By: Mahboob Kamal 1130031030 Anika Jahan 1130277630 Rifat - E - Kaniz 1130331630 Tamzid Ferdous Ryan 1130300630 Md. Kamrul Hasan 1120994030 North South University 17 April, 2012 LETTER OF TRANSMITTAL April 17, 2012 Lecturer School of Business North South University Subject: Group-2 Marketing Plan Submission. Madam, We are pleased to present you, our marketing plan on Karaoke Bar. This report comprehensively addresses all information related to Karaoke Bar.We have tried our best to make the report comprehensive and informative. It was a very enriching and pleasant experience for us preparing this project. If you have any questions or comments regarding the report, feel free to contact us. Sincerely yours, Mahboob Kamal 1130031030 Anika Jahan 1130277630 Rifat - E - Kaniz 1130331630 Tamzid Ferdous Ryan 1130300630 Md. Kamrul Hasan 1120994030 ________________ TABLE OF CONTENTS Page no. 1. Letter of Transmittal_______________________________________2 2. Executive Summary______________________________________4 3. Current Situation________________________________5 1. Market Description__________________________5 2. Product Review____________________________ 6 3. Competitive Review_________________________7 1. SWOT Analysis________________________________ 8 2. Marketing Strategy_______________________________________10 1. Product Strategy____________________________10 2. Positioning________________________________10 3. Pricing___________________________________ 10 4. Distribution_______________________________ 11 5. Promotion Strategy__________________________________ 11 1. Conclusion____________________________________ 13 EXECUTIVE SUMMARY KARAOKE AVENUE will be the first ever karaoke bar in Bangladesh. It is the place where people can hangout with their peers and enjoy the karaoke experience and quality food. We will have frequent live performances to encourage and entertain young singers. Our plan is to launch the bar in Dhanmondi since it is one of the popular places for gatherings. ...read more.

Middle

This service has no direct competitors- called a “blue ocean strategy”; the goal is to make competition irrelevant. However, there are many indirect competitors in Dhaka which also entertain people in many different ways than a karaoke bar which should obviously be included in competition. Few examples of competitors are- “Shisha Culture” is a new and latest trend in Bangladesh. There are some good Shisha Lounges in Dhaka city. Some popular shisha lounge in Dhaka are: Déjà vu Café is both a trendy lounge and an appetizing restaurant. The lounge not only serves different flavored shisha and a variety of dishes, but also exhibits a dance floor where a live DJ plays. Kozmo Lounge serves a variety of different items, provides a cozy environment with a charming view of Dhanmondi Lake. On top of that, relaxing music that matches perfectly with the lounge's tone is played. Kozmo constantly updates their menu in order to provide their customers with a plethora of different items and tastes. Kozmo is especially popular with the youth for its trendy and contemporary atmosphere as well as affordable prices. Thunderbolt takes pride in bringing to Dhaka the most authentic bowling sport, an American indoor game that has become hugely popular in the countries of South East and East Asia. Equipped with the state of the Art Brunswick bowling alley artifacts, that include the magical 'glow light' and the pulse setting music audio system, the centre is the first of its kind in Bangladesh, with only three of its prototypes in Asia. Pool Lovers is a popular spot for hanging out as well as playing pool. ...read more.

Conclusion

1. COUPONS: Offering discounts on drinks and food in magazines 1. FLIERS AND POSTERS: Fliers and posters can be made available in College, University campuses, various shopping malls to attract interested consumers like students and other professionals. Also, with the permission of hotels, we can put some Fliers and Poster or some business card in lobby. 1. ADVERTISING: Advertising in the Travel Agency can be a good choice and paying them money and asking the tour guide to introduce our Karaoke Bar. Radio stations are candidates, since they host promotional events all the time. CONCLUSION Internationally, the karaoke boom has given rise to a host of ingenious niche industries, from karaoke sommeliers that put together playlists with impeccable taste to karaoke sensei to help you hit those high notes. Karaoke poses interesting questions about talent and authenticity, drawing our attention to the way pop music teeters between art and commercialism. Karaoke has been successful in other countries for a number of reasons. For one, it appeals to a large number of people who love to sing, whether or not they can actually carry a tune. Second, it is also a great avenue for those who want to imitate their singing idols. Another reason for its appeal is that it encourages groups of people to get together and socialize. Wherever there is karaoke, the atmosphere is always bound to be lively and entertaining. Launching Karaoke Bar in Bangladesh is totally a new concept. The project will either be a gigantic success or a massive failure. However, considering the recent success of entertainment industries like lounges, gaming zones and various other services and the interests of Bangladeshi people, it can be concluded that a karaoke bar will also be a grand success. ...read more.

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