Marketing Plan. Launching a Karaoke Bar in Bangladesh

Authors Avatar by anikajahanjoya (student)

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.

KARAOKE AVENUE has a great opportunity in the market because of the location we have chosen and mainly because there are no other karaoke bars anywhere in Bangladesh. The other reason is that, the huge population of youngsters in the city love to have fun and they never hesitate to try something new and unique.

Our Management team will consist of the owners who will be involved in making all major decisions regarding the bar, then we will have the bar manger, the food and drink servers, karaoke jockeys and the maintenance staff.

In the beginning of the business KARAOKE AVENUE  shall not have any major competitor since we are the first karaoke bar in Bangladesh, but we might still see some café as our competitors, for example – The Stage (music cafe), Déjà vu Café, H20 Lounge, Kozmo Lounge and others. The reason why we might consider them as our competitors is that they are already very popular among youngsters due to their quality food and service.

Our competitive advantage will be our utterly new concept. We shall not only excel in karaoke but at the same time provide the most delicious meals in our bar. We will have well-trained staff to provide superior service. All-round entertainment will be guaranteed.

CURRENT SITUATION

MARKET DESCRIPTION

Our main goal requires that we become a "hangout spot" for developing singers in the areas of music theatre, opera and stylistic pop.

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• COLLEGE STUDENTS: Creating an environment that is appealing to college students is important for our karaoke bar. Effective word-of-mouth and competitive prices will encourage this segment and our superior service and overall high entertainment value will create loyal customers who will look forward to visiting this bar on a regular basis. Youths will be interested in finding a fun place where they can spend time outside the house with people of their age.

• LOCAL MARKET: Hopes that by offering the mature atmosphere of a

Karaoke club coupled with enjoyable company and quality service and food we ...

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