Table of Contents

EXECUTIVE SUMMARY ............................................................................................................ 3 BUSINESS OVERVIEW ............................................................................................................... 4 The New Product Development Process: ................................................................................... 4 Idea Generation: ...................................................................................................................... 4 Idea Screening:........................................................................................................................ 4 Concept development and testing: .......................................................................................... 5 Business Analysis: .................................................................................................................. 5 Product Development: ............................................................................................................ 6 Test Marketing: ....................................................................................................................... 6 Commercialization: ................................................................................................................. 6 THE MARKET: .............................................................................................................................. 7 PRODUCTS:................................................................................................................................... 8 Product Classification: ................................................................................................................ 8 Type of Consumer Product: ........................................................................................................ 8 PRICING: ....................................................................................................................................... 9 Distribution: .............................................................................................................................. 10 Competitors:.............................................................................................................................. 10 MARKETING STRATEGY ......................................................................................................... 11 Market Segmentation ................................................................................................................ 11 Geographic Segmentation ..................................................................................................... 11 Psychographic Segmentation ................................................................................................ 11 Demographic Segmentation .................................................................................................. 11 Target Market............................................................................................................................ 11 Differentiation ........................................................................................................................... 12 BRAND NAME AND PACKAGING.......................................................................................... 13 Brand Name Selection .............................................................................................................. 13 Packaging .................................................................................................................................. 13 POSITIONING ............................................................................................................................. 14 Positioning Statement ............................................................................................................... 14 1|Page

Positioning in Relation to Competitors ..................................................................................... 14 Brand Positioning...................................................................................................................... 14 GOALS: ........................................................................................................................................ 15 MARKETING STRATEGY:........................................................................................................ 16 BUDGET (SUMMARY) .............................................................................................................. 18 EXPECTED PRODUCT LIFE CYCLE OF BEEF REEF PRODUCTS: .................................... 18 1. Product Development: ....................................................................................................... 18 2. Introduction ........................................................................................................................ 18 3. Growth: .............................................................................................................................. 18 4. Maturity: ............................................................................................................................ 18 5. Decline: .............................................................................................................................. 18 COMMUNICATION PLAN: ....................................................................................................... 19 Awareness ................................................................................................................................. 19 Knowledge ................................................................................................................................ 19 Liking ........................................................................................................................................ 19 Conviction ................................................................................................................................. 20 Purchase: ................................................................................................................................... 20 DESIGNING A MESSAGE: ........................................................................................................ 21 Message Content: ...................................................................................................................... 21 Choosing media: ....................................................................................................................... 21 Collecting feedback: ................................................................................................................. 22 Internal Information: ................................................................................................................. 22 External communication: .......................................................................................................... 23

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EXECUTIVE SUMMARY
BEEF REEF is the new player and for Pakistan livestock industry with a single minded objective to provide fresh, quality and nutrition range of beef products. Company will strive hard to dig its pillars deep in the national market then in international market. BEEF REEF specializes in designer cut beef and ready-to-cook & fully cooked food. By direct marketing strategy the company will manufactures its product to ensure the pure and healthy meat and trade it. With cattle and sheep farming the company is going to collect the meat and undertake production related process and position its product as healthy and quality beef range products. The company has to integrate all production process under one umbrella to ensure quality and food safety by managing all stages of production. BEEF REEF is going to distribute its products to different retailers and also will also be available at its own stores. A total of 10,000,000 PKR the company has to perform all the stages to execute the plan. If the targeted revenue within six months is generated it will be considered as the success of the companys market campaign.

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BUSINESS OVERVIEW
The idea originated last Eid holidays, we witnessed many religious sacrifices and of course we then tumbled upon the idea; what can help people maintain a high protein meat based diet all year long? As the market already offered many substitutes for meat in the form of white meat and chicken, it still lacked a major beef supply of daily items. So, considering the vast majority of beef lovers and a market virtually uncontested it was time we introduced BEEF REEFs product line specializing in beef products. The idea itself was novel and easily approachable. With major ready to cook food suppliers such as K&NS providing the customers with chicken products we believe our products would be just as easily accepted.

The New Product Development Process:

To create successful new product it was important for us to first understand our consumers, markets and competitors and then develop the product which would deliver superior customer value to the customers. We set up a systematic customer driven new-product development process to come up with our new product. Idea Generation: In this stage we set up a systematic search for new-product ideas. There are two sources from which ideas can be generated: the internal source and the external source. The distributors and suppliers work close to the market and so they have a better idea of the customers changing taste, and their preferences. Our distributors gave us several ideas about brand extension which include introducing beef and sea food products in the market. Which was further enhanced by our membership cards which is explained later on. Idea Screening: In this stage we discussed the ideas given to us by our external sources. The idea of introducing beef products was instantly adopted by the new product committee. The committee evaluated the idea against a set of general criteria i.e. R-W-W (Real, Win, Worth it). Is it real? There was a general need for beef products in the market as no other brand yet offers beef products and people have to go to fast food restaurants to satisfy their yearning for beef so if we introduce our products the customers would simply buy them from the local retail outlets rather 4|Page

than going to restaurants. Can we win? The product offered a clear competitive advantage. No other brand has yet introduced frozen beef products we can aim for a monopoly in this criteria. It would offer the company great growth potential. Is it worth doing? Along with growth potential the product offers great profit potential too. Concept development and testing: In this stage we tested our new-product concept with groups of our target customers. To increase the reliability of the concept test we presented the customers with a more concrete and physical presentation of our products. After being exposed to the concept we asked the customers to answer certain questions: 1. Do you understand the concept of frozen Beef Products? 2. Do you believe the Beef products would be just as healthy as the chicken products available in the market? 3. Do you like Beef products? 4. Do you want Beef Reef to produce steaks, kababs, and nehari? 5. What would be a reasonable price to charge for the standard pack of Beef Steaks or sausages or kababs? 6. Who makes food buying decisions at your place? 7. Would you buy Beef Reef products? The answers to these questions let us decide how much appeal our product concept has to the customers. Business Analysis: At this stage business attractiveness of the product was evaluated by reviewing sales, costs and profit projections for the new product to see if they satisfy the companys objectives. To estimate the sales we carried out market surveys in order to assess maximum and minimum risk that would be involved in launching a completely new product in the market. We also estimated costs and revenues to make sure that the cost does not exceed the revenues and result in loss for the company. This is later explained in the document.

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Product Development: In this stage our product concept actually developed into a physical product. Test Marketing: In this stage we exposed our beef products to realistic market settings to see how well it does there. The approach we chose for test marketing was standard test marketing. We chose Islamabad as the city to conduct standard test marketing in. Full promotional campaign was carried out in Islamabad before the product was launched for test marketing. After it was launched, to gauge product performance store audits, consumer and distributor surveys were carried out to find out if the product was a success. Based on the research findings national sales and profits were forecasted, and potential problems were predicted. The forecasts are also presented at the end of the document. Commercialization: In this stage we introduced our beef products in the markets as all the previous stages were predicted customer demand, high sales, growth potential and thus profits.

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THE MARKET:
A product such as ours benefits most from mass marketing, through cluster analysis we found out there are many segments of consumers who would purchase the products considering the factors related to the product itself. People who believe in natural selection of the best breed of farm animals mentioned antibiotics, growth hormones or any drug that enhances the cattles mass is somewhat harmful as those chemicals gets passed on to the end consumer. As we breed our cattle in the way they are meant to be bred The right way, the natural way we can answer the needs of our customer without a guilty conscious. The percentage of these types of consumers was 42% (they are provided with the option allowing them to choose a scientific method of cattle breeding or natural selection depending whether they have a reason for their choice). 35% of the consumers seemed motivated to buy the product only being influenced by they perceived as extrinsic quality of natural beef products. This segment appears to be second to the meat lovers segment considering the promise they show in terms of loyal customers. The final segment (23%) is the meat lovers segment; these consumers are driven by cost to value approach. They believe if they are provided with quality beef products with the right price they would buy the products no questions asked. This segment consists of housewives, teens who could easily score a snack and even the many on-wheel restaurants who offer the consumers there best cooked recipes and we enable them to make their cooking much less costly and less time consuming.

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PRODUCTS:
Product Classification:
There are two product classifications: Consumer products and industrial products. Beef Reef products would be bought by the consumers for personal consumption so they would be classified as consumer products.

Type of Consumer Product:

There are four types of consumer products: convenience products, shopping products, specialty products and unsought product. Beef Reef comes under convenience products as they would appeal to a large market segment. They would generally be consumed regularly, would be purchased frequently, are inexpensive, there would be little effort needed to purchase them and there would be national intense distribution and promotion We are a beef only producers and offer the market our vast product line consisting of beef sausages, beef steaks, Beef patties, chappal kababs, marinated beef seekh kababs, snacks such as beef samosay, chunky beef (beef chunks with crunchy batter ready to fry), ready to cook beef lovers pizza, and something for the Pakistani majority who loves brain masala, Paye, nehari and achari beef. These products are all offered with our special sauces with the exception of brain masala, paye, nehari and achari beef. The products are wrapped in a protective lair of synthetic materials such as plastic films and foils; in our case we use Polyethylene. The foil helps prevent oxidation and rancidity of fats resulting in an undesirable off-flavor. The film also helps prevent evaporation as some moisture is necessary for the meat to be kept stored for longer periods without damaging its quality or taste. The protective film is then covered with our very own packaging which helps counter light exposure; the packaging is tightly sealed with the help of a vacuum plant which helps in trapping the nutrients within the product. Beef Reefs label is printed in a gradient of blue and it says We MEAT your expectations it defines the good product quality as well as our core competency. It gives a complete detail of how to cook them, which appliances to use etc.

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PRICING:
As mentioned before we use mass marketing for our product. This enables us to use Demand Driven Pricing. To introduce our product into the market we will use penetration pricing, keeping our prices low our main goal would be to create awareness for our future consumers that we can satisfy their daily need of beef at affordable prices. This can help us utilize our biggest strength, the uncontested market could and would be easier to capture as the product line is something they want that isnt out there as K&NS might provide a few beef products such as beef sausages etc. but they do not offer the customer with choice between their type of meet. What others might consider as line filling we believe it can be further explored as OUR idea by expanding the choices and focusing on something that is potentially profitable and acceptable for both us and the consumers. In the introduction stage we plan to introduce 7 of our major products: Beef Sausages Beef Steaks Beef Patties (6 pack) (12 pack) Seekh Kababs (6 pack) (12 pack) Beef Samosay (10 pack) (15 pack) Chunky Beef (8 chunks) (16 chunks) Beef Pizza 8 inches 12 inches Rs. 150 Rs. 250 Rs. 240 Rs. 420 Rs. 180 Rs. 350 Rs. 300 Rs. 400 Rs. 200 Rs. 390 Rs. 750 Rs. 1100 10 Sausage pack Per Steak 6 per pack with the option of 12 per pack 6 per pack with the option of 12 per pack 10 per pack with the option of 15 per pack 8 chunks per pack with the option of 16 chunks per pack The option of a serving of 4 people with 8 inches pizza and 12 inches pizza for 6.

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Distribution:
Our product goes from our production areas where they are kept in our cold storage warehouses. To our outlets and is also shipped to the shopkeepers and big retail stores who have agreed to keep our product by our special delivery trucks which have built in cold storage. The shop keepers are also given fridges with Branding of Beef Reef. We have also provided the shop keepers to place our product in a prominent spot for more sales.

Competitors:
The market we are to explore remained unexplored for the past few years until Noor Inc. started its beef product line. They were able to satisfy the needs of the customer and it showed promise but later on the costs started reflecting in their pricing as they kept soaring and eventually customers moved on to alternatives such as chicken products from K&NS and if someone still had a knack for beef their local slaughter shops would offer meat at reasonable prices and by standing in line for your turn which spelled the last of Noor Ins. As for us we provide the quality products for our customers, we eliminate the middle man to help you save time and provide u with your needs. As of now there are no whole meat suppliers in Pakistan that can provide beef products at a large scale, so we take advantage of this scenario by being the first suppliers of ready to cook beef product line.

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MARKETING STRATEGY
Market Segmentation
Geographic Segmentation We have mainly focused on providing Beef Reef in urban areas. Beef Reef has been designed according to the cultural and health shift in order to provide the best, what customers need. The markets are major cities which consist of Karachi, Quetta, Peshawar, Lahore, Islamabad, and Rawalpindi. Psychographic Segmentation Changing life style brought innovation to the market and Beef Reef is well aware of these changes. All people having good taste for quality products can use our product. We promote a healthy and protein rich diet and this by-itself is a motivator. Demographic Segmentation Beef Reef has conducted constructive demographic surveys in order to get the clear picture about various market segments and forecast the future sales of the company. In demographic segmentation we have focused to provide our product in every best possible way so that people related to different income, social classes, age and gender can access our product conveniently. We have products for every age group.

Target Market
After a company has segmented a market, management must select one or more segments as its target market. Our target market is Health Conscious people and people who arent able to do a lot of cooking in order to satisfy their needs and wants accordingly. The

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category of target market is Concentrated Target Market. Beef Reef is focusing on middle class and upper class as they mostly prefer buying such products. In Pakistan different brands have frozen chicken products but we will be the first to offer beef products in the market. Our target market is the people of Lahore, Islamabad, and Rawalpindi.

Differentiation
Product differentiation is the process of distinguishing a product from others to make it more attractive to particular target market either by increasing benefits or lowering cost. Differentiation can be done from competitors product as well as a farms own product offerings. We are differentiating Beef Reef from other brands on following attributes:

Pricing and Quality

Beef Reef is targeting market with low but reasonable price and good quality. Good quality beef is the basic want of every consumer so we are assuring our customers of our product by giving good quality and ready to cook or ready to eat products. We also offer designer cuts of beef getting such good cuts are really difficult from normal butchers.

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BRAND NAME AND PACKAGING

Brand Name Selection
We selected a name which tells about the product. Beef Reef means. You can rely on its freshness and quality and great nutritious value. Its easy to pronounce and can be remembered due to its uniqueness and can easily be translated to any foreign language.

Packaging
Brand and packaging are two most important parts of product. Brand name identifies the product, makes easier for consumers to choose product and ensure quality to differentiate product from customers. Here we are introducing new beef range of products under brand name Beef Reef. As far as packaging is concerned, beef is travelled through our cattle farms to the machines were they are cut and packet other products that are ready to eat are cooked all the beef goes through a special process where it is sterilized to kill all bacteria or any germs. We have introduced different colorful packing it is a gradient of blue with pictures of the finished dishes which makes the consumer get an image of the dish and he wants to eat the product. This technique can attract more teenagers and middle aged men and women to buy the product.

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POSITIONING
Positioning is the image of a product or a firm in the eyes of the customers in relation to the competitor's product and for products offered by the same firm. Beef Reef varies its positioning strategies from time to time depending upon the market situation. The most recent positioning adopted by Beef Reef can be summarized by its Slogan used for product.

Positioning Statement:

Positioning in Relation to Competitors

K&ns, Menu are the major players of frozen products in the industry in Pakistan. They have devised their own positioning strategies in accordance with customers needs and wants. K&ns puts more emphasis on giving safe and healthy Chicken while Menu highlights its self as Menu apna apna. But Beef Reef positioned itself as the highly nutritious and quality Frozen Beef products affordable for everyone.

Brand Positioning
Brand Positioning is the key to marketing strategy. It can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customers mind. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and its similarity with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service apart from your competitors.

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GOALS:
To start a chain the likes of K&Ns (our competitors) and spread over the entire country. This can be achieved by gradually expanding our ventures. Starting from a single franchise we plan to expand. Our first target is the Twin cities I-e Rawalpindi and Islamabad. To achieve that, it is planned that contacts be established with the best local retailers. This also requires staking the area for the best cattle breeders and having a deal with them to expand our breeding grounds in different cities. That way, we can manage to get the best quality meat. We integrated all Beef production activities under one umbrella to bring you safe and healthy Cattles by managing and controlling all stages of production. To further enhance our product a research team is designed to keep up with the taste and quality. Currently the products are such that will appeal to the upper-middle class, upper class, youth and elders. Once the current location is covered, the market can be expanded targeting other areas of the country and franchising all over Pakistan. Talking about the goal what we want to achieve initially, with in first 6 months of our campaign we are looking forward to achieve the break-even point as its a new product range launched so first we have to capture the market and increase our market share, after that it is our goal to at least make the profit of Rs.10, 000,000 within the next six months. For that we have planned to price the product on marketing penetration pricing i.e. we will set the prices as low as possible to achieve our goal this will make us easy to penetrate the market easily and deeply and will attract large number of customers, and to achieve this goal we aim to sell at least 19,500 units to reach our desired profits. Obviously when a customer will get fresh cut meat at a lower rate than the local market they will go for it. This will create awareness for our future consumers that we can satisfy their daily need of beef at affordable prices. It is easy to cook especially it facilitates the working women because they dont have much time to make all those things at home. We provide the hygienic food to its customer that builds trust in the customer. These attributes will increase market share. Once we have captured a considerable advantage in our target market we will grow further to increase our market share and customer loyalty through sponsors and endorsements.

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MARKETING STRATEGY:
Different strategies are implemented to attract different segments of customers. Electronic media i.e. TV and radio ads, Broachers, posters Also Print marketing Offering discounted upgrades to get existing customers to buy the new offer Internet Marketing; its a viable option to further reach our customers We use product development as an advantage; even though most people would argue that our marketing strategy should be product development we believe we can use market penetration and product development at the same time as the customer lacks the option of a beef product line but on the other hand they have alternatives such as butcher shops etc. Increase awareness within our target groups to keep reminding them about the benefits and the uniqueness of our product. The above mentioned goals can be reached by using Market Penetration Strategies. Although the product has been offered before in the market by Noor Inc. as mentioned in the beginning of the report they were not able to retain their market share and customer loyalty to reach what we expect to reach. We will use continuous advertisements on different channels keeping in mind the prime time that housewives tune in to watch their favorite shows which will help us reach our target customer with ease as this will keep reminding them of the options they can explore to enhance their cooking experience and health of their family. We will also sponsor popular and trendy shows which as of now promote their sponsors when they go in and out of breaks with a small clip of the product this can help us with aggressive advertising of our products and capture a place within their minds when they go shopping for groceries. For example popular shows like Ishq-e-Mamnu and Bulbulay. We can also use options such advertising through magazines and newspapers, posters, brochures and providing them with any incentives in terms of discounts on existing products for regular buyers. As mentioned before we also use market development strategies due to the fact that Noor Inc. has provided such products in the past but due to their soaring prices they soon ran out of customer to cater for and they lost the one important thing; Customer Loyalty. We offer the right value for the right prices and to keep the customers coming we offer membership cards which will record each and every 16 | P a g e

transaction of the customer with our company to help us keep record of their needs and their taste and for every Rs.2, 000 spent on our products our customer gets a choice to choose between any one of our family pack products for free. Implementation Tactics:

June

May

April

Lahore Rawalpindi

March

Islamabad

February

January 0% 20% 40% 60% 80% 100%

The above table shows our forecast for the product launch and its performance for the next 6 months where we plan to reach breakeven. The percentage shows sales from each region and its contribution to the total sales of the company. The starting sales will be quiet low considering the product is in introduction stage which will later enter the growth stage within the first 6 months. The above chart does not show the costs situated with marketing our product which consists of production cost and promotional costs. The initial investment for our production facility which includes cattle, breeding grounds and processing plants is Rs.1, 000,000,000. The variable cost per cattle during the production process (slaughter and processing) which range from Rs.1, 500 to Rs.3, 000 depending on the mass of the cattle. This process only includes the slaughtering and cleaning & preservation the meat. The appropriate amounts of meat enter different machines for different products ranging from sausages to steaks etc. which have maintenance and operational costs of Rs.200, 000. 17 | P a g e

BUDGET (SUMMARY)
Initial investment Variable costs (average) Operational/fixed cost Promotion/Advertising costs Rs.1, 000,000,000. Rs.2,500 per Cattle Rs.200,000 per month Rs.7,000,000 per month

EXPECTED PRODUCT LIFE CYCLE OF BEEF REEF PRODUCTS:

1. Product Development: We carried out extensive research in an effort to launch a new product. The research showed that no one in the food market was offering frozen beef products. 2. Introduction: There was a lot of promotion at this stage as we wanted the people to know that we have introduced a completely different product in the market so promotional costs were very high. The advertising was informative. We did not introduce them nationally at once. The beef products were placed in every retail store before we moved on to our own outlets. 3. Growth: At this stage our sales began to escalate and so the profits were rising. Our objective was to maximize market share. We introduced our products at a larger scale in all our exclusive stores as well as in all the major retailing stores like Metro and Cosmo. The people who were now buying our product were the early adopters. Promotion was still high. Advertising was persuasive. Until now there were no substantial threats to the company from competitors. 4. Maturity: Our product has not yet reached this stage. But we believe we would have gained the ideal market share in a few years 5. Decline: We do not expect to enter this stage of product life cycle. However if we do we would apply extension strategies.

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COMMUNICATION PLAN:
Since the target audience had been defines there were 6 readiness stages to finally make customers to buy our product, sales staff and potential employees to understand the company and to attract the vendors and investors to invest in BEEF REEF.

Awareness:
To create awareness in the minds of the consumers, retailers and expected investors we have provided them the basic awareness of the product. We circled a 10 query-close ended questionnaire among different age group to see what they would feel about a new company with a range of frozen beef products. People gave a positive response to it. Knowledge: Many people were curious to know what is different about BEEF REEF when these products can be prepared at homes. We gave them the knowledge that why to face trouble to get the fresh meant, clean it and then to go through different procedures to cook it. We made it easy for them by using the best quality ingredients to make mouthwatering frozen beef range. Liking: It was necessary to develop a liking for our products to be launched in the market which could get attention of the consumers as well as investors towards the new product launch. We wanted the customers to feel favorable towards our products. We maintained the theory of providing a highly nutritious and quality frozen beef products affordable by everyone. Preference: We choose the name Beef reef because it was easy to be pronounced and remembered and by its name you can rely on its freshness, quality and great nutritious value. People will feel our product superior if any competitor comes in the market. 19 | P a g e

Conviction:
We want our customers to believe that beef reef is the best product for them and how it is much more reasonable and how quality and consumer value is improvised and prioritized. Beef reef is a new thing in the market and people have a need for it because sometimes they are too tired of going through the hassle. Purchase: After going through the stages, the final stage is purchases. Only the beef lovers would be the initiators we will be convincing them by giving certain incentives including special discounts, gifts when you buy our product etc.

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DESIGNING A MESSAGE:
Using the AIDA model we have designed how to convey the message of our product.

Message Content:
We will show rational appeals in our product. Consumers were told about the beneficial features of our product. We promoted our product by providing basic information to capture the audiences self-interest. We will use one sided argument where we mention the products strength because we are promoting ready in minutes and tasting more exotic flavors of beef when u want to save time and hustle. We deliver this new range near the doorsteps.

Choosing media:
We are choosing non-personal channels as means of promotion and communication with our customers. We will use media like newspapers, cooking magazines, television, radio, banners, bill-boards and flyers etc. this will exclude the risk that can be caused by personal selling or buzz marketing i.e. the image of the company 21 | P a g e

can be affected because Beef reef is a new player in the market and has to uplift positively its image in market. Our message source is an everyday lady who has many chores in the house and she prefers Beef Reef because she has family of meat lovers and she believes it is going to be successful.

Collecting feedback:
The personal selling technique would be used for collecting feedback about product promotion e.g. word of mouth etc. and by conducting surveys. We are also expecting people to give feedback on the official Beef Reef Facebook page. www.facebook.com/beefreef

Internal Information:
We have a separate department running to maintain the data sheets, to arrange presentations for internal and external valuable people linked to our company. Different seminars have been 22 | P a g e

conducted to deliver the message of our product to our sales staff, employees, vendors and investors interested in our company.

External communication:
As mentioned earlier we are using non-personal channels as means of communication like press realizes, cooking magazines, television, radio, banners, bill-boards, flyers and social media websites.

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Product Images

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