‘Bangladesh’- The Queen of Nations Executive summery Bangladesh has positioned herself as a one of the promissory developing country in world. It enjoyed widespread international public support during the war of liberation, not only because its struggle identifiable, but also due to the fact that it aimed to establish a socio-economic equilibrium and an equitable society where each citizen would have the opportunity to flourish. But the Post-1971 eras has not been so easy, despite numerous achievements, the country has been negatively labeled by a group of people with their own motivations.
They ignore the commitment and the resilience of Bangladeshis who are often faced with political and climatic trauma. Now Bangladesh has made lots of socio-economic growth include: improvement in health status, increasing literacy, progress in gender balance, enhancement of employment opportunities, building transport and communications facilities, huge increases in media reach amongst rural and urban people, booming ITC businesses, a rise in remittance and agricultural, industrial, and ready-made garments (RMG) booms. In 2006, our global image increased exponentially with Prof.
Yunus and Grameen Bank winning the Nobel Peace Prize. That put Bangladesh in a strong position, globally and we cannot let that slip. Therefore, it has become imperative to develop a nation branding campaign to keep us in the global limelight for the right reasons. Currently, the government and brand strategists are working towards developing a nation branding campaign, which should help improve its image to the rest of the world Objectives We have made this assignment with a view – 1. To establish Bangladesh as a brand in the world’s competitive market. 2.
To identify common facilities provided by Bangladesh like other countries. 3. To know deeply about the resources and competitive edge of Bangladesh in South Asia. 4. To find out the ways to brand Bangladesh through integrated marketing programs. Methodology: The secondary data have been collected through different text books, government websites, and others websites related to report topic. Limitations While doing assignment, we faced some obstacles. These are given below:- * To brand a country requires much time and effort. But the time provided to us is not enough to accomplish the goal. As per government rule and regulation, much information was not disclosed by government website. * For collecting data, we can not focus every sector of Bangladesh. This has certainly affected the quality of the report. Chapter-2 Literature Review 2. 1 Brand Branding has become so strong that today hardly anything goes unbranded. Consumers view a brand as an important part of a product, and branding can add value to a product. Perhaps the most distinctive skill of professional marketers is their ability to build and manage brands.
According to the American Marketing Association, “a brand is a name, term, sign, symbol, or design, or combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. ” Ultimately, a brand is something that resides in the minds of consumers. Now the question is “how do we brand a product? ” To brand a product it is necessary to teach consumers “who” the product is – by giving it a name and using other brand elements to help identify it – as well as what the product does and why consumers should care. Here, we focus on the place marketing.
Cities, states, regions and countries are now actively promoted through advertising, direct mail and other communication tools. These campaigns aim to create awareness and a favorable image of a location. In this context, we concentrate on branding our country namely Bangladesh. 2. 2 Strategic brand management process Strategic brand management involves the design and implementation of marketing programs and objectives to build measure and manage brand equity. In case of branding and marketing something and overall achieving brand oriented objectives; the firm must follow the sequential brand management process.
Identify & establish Brand Positioning & Values Plan & Implement Brand marketing programs Measure & Interpret Brand Performance Grow & Sustain Brand Equity * Mental map * Competitive frame reference * POD & POP * Core brand associations * Mixing & matching of brand elements * Integrating brand marketing activities * Core brand associations * Brand value chain * Brand audits * Brand tracking * Core brand associations * Brand- product matrix * Brand portfolios and hierarchies * Brand expansion strategies Steps Key concepts Fig: strategic brand management process I.
Indentifying and establishing brand positioning Brand positioning can be defined as the “act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s mind,” such that the potential benefit to the firm is maximized. Competitive brand positioning is all about creating brand superiority in the minds of consumers. To create position for a brand in consumer mind, marketers need to know – * Who the target customer is * Who the main competitors are * How the brand is similar to these competitors and * How the brand is different from them.
The last two jobs of marketers are directly related with points of parity and points of difference. PODs are attributes or benefits that consumer strongly associate with a brand positively evaluate, and believe that they could not find to the same extent with a competitive brand. On the contrary, POPs are not necessarily unique to the brand but may in fact be shared with other brands. Brand positioning also requires some other key association and brand mantra. A mental map is a visual depictim of the different types of association linked to the brand in the minds of consumers.
Core brand associations are that subset of association like attributes and benefits that best shape a brand. A brand Mantra is a short three to five- word expression of the most important aspects of a brand and its core brand association, the enduring “Brand DNA” and the most important aspects of the brand to the consumers and the company. Brand Mantra represents the core promise of the brand. Core brand association, POD, POP, and a Brand Mantra are thus an articulation of the heart and soul of the brand. Along with company must consider internal branding.
Brand mantras points out the importance of internal branding- making sure that members of the organization are properly aligned with the brand and what it represents. * Updating positioning over time: A company must update its positioning strategy and activities in the mind of consumer in response to changing time. Updating positioning raises two main issues including * Laddering: how to deepen the meaning of the brand to tap into core brand associations or other, more abstract consideration? * Reacting: how to respond to competitive challenges that threaten an existing positioning? II.
Planning & Implementing Brand Marketing Programs As the brand management process is sequential, the success of one phase depends on the success of another phase. After identifying a brand a firm needs to educate its customers about the brand. In today’s marketplace, there are many different ways by which a brand and its corresponding marketing programs can build brand equity. Planning about channel strategies (media, celebrity selection), communication strategies (name, performance of brand), pricing strategies and other marketing activities can all enhance or detract from brand equity.
Basically in the second step, marketers try to build knowledge about the brand among customers. This knowledge building process will depend on three factors: a. The initial choices of the brand elements of identities making up the brand and how they are mixed and matched. b. The marketing activities and supporting marketing program and the way the brand is integrated into them. c. Other associations indirectly transferred to or leveraged by the brand as a result of linking it to some other entity (such as the company, country of origin, channel of distribution, or another brand).
III. Measuring and interpreting brand performance The task of determining or evaluating a brand’s positioning success level often benefits from the measurement of the brand’s performance. The corrective suggestions derived from the measurement of the brand performance acts as a guideline of building a strong and competitive brand. By using the following tools we can measure the performance of a brand. * Brand Audit: A brand audit is a comprehensive examination of a brand to assess its health, uncover its sources of equity, and suggest ways to improve and leverage that equity. Brand value chain: Brand value chain is means to trace the value creation process for brands, to better understand the financial impact of brand marketing expenditure and investments. IV. Brand equity measurement system Brand equity measurement system is a set of research procedures designed to provide timely, accurate, and actionable information for marketers so that they can make the best possible tactical decisions in the short run and the best strategic decisions in the long run. Growing and sustaining brand equity Maintaining and expanding on brand equity can be quite challenging.
Brand equity management activities take a broader and more diverse perspective of the brand’s equity – understanding how branding strategies should reflect corporate concerns and be adjusted, if at all, over time or over geographical boundaries or market segments. Managing brand equity can mean managing brands within the context of other brands, as well as over multiple categories, over time, and across multiple market segments. 2. 3 Brand building blocks To provide a structure view of “how a brand gets maturity from its birth phase”, K.
L. Keller (2008) suggested the “Brand Building Block” that has six blocks with four rational stages of brand development and four objectives of those stages. Steps of brand development Branding objectives at each stage 4. Relationship What about you & me? Salience Imagery Judgments Resonance Feelings Intense active loyalty 3. Response What about you ? Positive accessible reaction 2. Meaning What are you? Points of parity and points of difference Performance Deep, broad brand awareness 1. Identity
Who are you? Brand salience: Brand salience measures awareness of the brand, for example, how often and easily the brand is evoked under various situations or circumstances. Breadth and depth of awareness A brand we easily recall has a deeper level of brand awareness than one that one that we recognize only when we see it. The breadth of brand awareness measures the range of purchase and usage situations in which the brand element comes to mind and depends to a large extent on the organization of brand and product knowledge in memory.
Brand performance Brand performance represents the measurement of how wells a product or service meets its customers’ expectation about the brand. Actually product is the heart of brand equity because it directly influences the customers’ experience and it also meets the firm’s promise about the brand. As a result, designing and delivering a product that fully satisfies consumer’s needs and wants is a prerequisite for successful marketing of a brand regardless of whether the brand is a tangible good service, organization or even location.
The gap between the performance of the brand and the firm’s promise about the brand gives corrective suggestion to make the brand as competitive. Brand imagery Imagery refers to more intangible aspects of the brand, and consumers can form imagery associations directly from their own experience or indirectly through advertising or by some other source of information such as word of mouth. Brand judgments Brand judgments are customers’ personal opinions about and evolutions of the brand which consumers form by putting together all the different brand performance and imagery associations.
Four types of important judgments are quality, credibility, consideration, and superiority. Brand feelings Brand feelings are consumers’ emotional responses and reactions to the brand. Brand feelings also relate to the social currency evoked by the brand. There are six important brand feelings including warmth, fun, excitement, security, social approval, self- respect etc. Brand resonance Brand resonance describes the nature of this relationship and the extent to which customers feel that they are “in sync” with the brand. Chapter-3 Let’s Brand Bangladesh In this chapter we will give a deeper look on how Bangladesh could be branded.
For this we will focus on the first two steps of Brand Management Process which are Identify & establish the Brand Positioning and Plan & Implement Brand marketing programs. Step-1 3. 0 Identify & establish the Brand Positioning Target Market, Nature of competition, brand mantra, Point of Parity(POP)and Point of Difference(POD) are the focus of attention of this very stage which will gradually make a Branding for Bangladesh. 3. 1 Brand mantra: Bangladesh Tourism Industry uses the Brand Mantra-‘Beautiful Bangladesh’ as a Branding element of Bangladesh.
Therefore we are going to use this statement as the Brand Mantra in our assignment. 3. 2 Target market for Bangladesh By focusing relationship between Bangladesh and other countries, we can segment our target market in the following categories. I. Tourist: Bangladesh is a country of natural beauty including Cox’s bazaar, Sundarbans, kuakataetc that attracts the tourists in all over the world. According to statistics of the country’s National Tourism Authority (NTA), a total of 349,837 foreign tourists visited Bangladesh in 2008, about 21 percent higher than that in 2007.
So we can target tourism sector in order to branding Bangladesh II. Foreign Direct Investment: Bangladesh is the world’s largest low cost labor country which affects the production of a product. Along with government of the country also established Export Processing Zone (EPZ) to attract foreign investors. As a result foreign investment is increasing day by day in our country. It is also a target market for branding Bangladesh. III. Human Resource: We get more than 90% remittance from the export of manpower (skilled, unskilled, semi-skill labor).
In the 2000, we exported 45177 skilled labors, 12067 semi- skilled, 39512 unskilled to the foreign countries. These people represent Bangladesh as a brand. We can this sector as our target market. IV. Outsourcing: Today is the era of information technology. Almost every country in this era is trying focus on expertise in IT sector. Bangladesh is not devoid of that. Bangladesh is now 3rd largest outsourcing country in the odesk’s, a leading freelancing institution list and 5th in the Freelancer’s list. Therefore, we can increase virtually the brand value of Bangladesh through outsourcing. V. Exporting
Bangladesh’s export earnings are mostly determined by the export of readymade garments (RMG) to North American and European countries with 75% of total export earning coming from this sector. During the last fiscal year (2007-08), the overall growth of the export of RMG was 16. 16% which increased to 23. 48% between July 08 and January 09 of the current fiscal year. Along with, Nowadays, Bangladesh Pharmaceutical Industry is successfully exporting Active Pharmaceutical ingredients (APIs) and a wide range of pharmaceutical products covering all major therapeutic classes and dosage forms to 79 countries.
So through exporting, we can also introduce Bangladesh as a well developing country. It is another target market for us. 3. 3 Nature of competition When we talk about branding, we must think of the nature of competition. For branding a country like Bangladesh we need to consider the existing markets and positioning of the country to the target customers. i. Nature of competition in Labor force segment Despite being a small and developing country, Bangladesh has long and successful history of labor force exporting. Since the 1980s, Bangladesh has been an increasingly important source country in international flows of contract labor migration.
The primary destinations for Bangladeshi migrants have been the Arab Gulf states, particularly members of the Gulf Cooperation Council (GCC). According to the official figures of the Bureau of Manpower, Employment, and Training (BMET) of the Government of Bangladesh, over 5 million Bangladeshis migrated to work in the GCC states between 1976 and 2009, with Saudi Arabia and the United Arab Emirates being the top country destinations. But yet it has to face immense competition for exporting labor force due to chip labor of its neighboring country India and china.
So, here, we face competition with India, china, Pakistan, Sri-lanka etc. who are providing low labor cost as like as Bangladesh. ii. Nature of competition in outsourcing segment Information Technology (IT) is the most challenging and competitive market sector of the present world. Although Bangladesh is very much successful in the online virtual market places like Odesk, Freelancer etc. it is continuously facing competition as still there is a lagging in the IT knowledge in the people. Moreover, India, Japan, China hold a significant level of success in this segment as well.
So, here they are main competitors for Bangladesh. iii. Competition on tourism industry: Tourism has considered as the world’s largest and rapid growing industry of modern business world. Bangladesh is a new tourist destination on the map of the world. Bangladesh has enormous potential to develop tourism because of its attractive natural beauty and rich cultural heritage. Tourism can add value in the Bangladeshi economy if proper marketing plan and strategy can be built and implemented for this purpose to compete with its neighbor countries like India, Srilanka, Nepal, Maldip.
Bangladesh is a country filled with natural wonders and untouched reserves and home to a variety of unique and magnificent creatures than other countries. With hills, valleys, forests, beaches, lakes and rivers, ecotourism in Bangladesh is ideal. Although this is still a relatively new form of tourism in Bangladesh, ecotourism is on the rise and extensive efforts are being made to promote it in the country. Bangladesh is blessed with two of the world’s splendid and enchanting ecotourism spots of diverse nature- the Sundarbans and the Chittagong Hill Tracts.
The Sundarbans is the world’s largest mangrove forest and could be the goldmine for ecotourism in Bangladesh. The UNESCO has already declared Sundarbans as a world-heritage site with a view to preserving and protecting bio-diversity of the rare ecotourism. Without that Cox’s Bazar-longest sandy beach, St. Martin, Kuakata, Rangamati, Bandarban, Srimangal etc. are the distinctive and charming place which has distinctive attraction. Bangladesh is also gradually developing the infrastructure facilities of tourism industry.
So, with passage of time Bangladesh create a positive image in tourism and building a sustainable competitive advantage in tourism industry. 3. 4 Points of Differences As we know that point of differences is the central concept that determines a strong Branding position, here we are focusing on FDI, Manpower Exporting, Low labor cost, Natural resources Bangladesh, Tourism industry of Bangladesh , Shipbuilding industry in Bangladesh, RMG of Bangladesh:, steel industry, Pharmaceuticals, Sports as the focus of attention in this assignment. i. Foreign direct investment(FDI)
The Bangladesh Export Processing Zones Authority (BEPZA) is the official organ of the government to promote, attract and facilitate foreign investment in the Export Processing Zones. The primary objective of an EPZ is to provide special areas where potential investors would find a congenial investment climate, and location free from cumbersome procedures. Businesses from 32 countries have so far invested in the existing zones. BEPZA is providing some incentives and facilities to attract foreign investors including… * Duty free import of construction materials. Duty free import and export of raw materials and finished goods. * GSP facility available. * 100% foreign ownership permissible. * No ceiling on foreign and local investment. * Off-Shore banking available. * Non-resident Foreign Currency Deposit (NFCD) Account permitted etc. By taking these facilities, Foreign Direct Investment (FDI) has played a key role in the modernization of the Bangladesh economy for the last 15 years. There was an inflow of $666m foreign direct investment in 2007 which raised significantly in 2008 to $1086m. As of 2011, inflows of foreign direct investment recorded to $1136. 8m. Inflows of foreign direct investment during 2007-2011 From this chart we can easily say that FDI is increasing day by day in our country due to some extra incentives and facilities provided by our government. As these facilities are absent in the developed countries like USA or UK, foreign investors are so much interested in invest in Bangladesh which is our points of difference for branding our country. It is to maintain tha ii. Manpower Exporting Bangladesh has sent more than 6. 7 million workers to over 140 countries during a period of more than three decades since the mid-1970s.
Most of these workers temporarily migrate to work in Middle East and Southeast Asia. More importantly, the remittance transfers received from these migrant workers have reached a phenomenal level of over 10 billion US dollar in 2009, approximately 12 percent of GDP in Bangladesh. Bangladesh is one of the largest remittance incomer countries in all over the world. These people introduce our country in the world market. Moreover, these people are the representatives of Bangladesh. They are the products of the country in the foreign market.
Their performance actually contributes the development of our economy. So manpower exporting is a competitive advantage of Bangladesh. iii. Labor force Bangladesh has about 15 core people with 30 core hands. Labor is one of the main production factors to produce a product. The labor rate in Bangladesh is among the lowest in the region—less than one third of China’s and less than half of Vietnam’s. Labor cost is only 23 cents per hour in Bangladesh, whereas in India, Pakistan and China the labor costs are 43, 41 and 89 cents per hour, respectively.
But it is a great news for Bangladesh that its labor force is improving much consistently than strong economic countries like India and China. Here is a Graph which shows the differences of labor force among these countries: iv. Natural resources Bangladesh Natural resources are most important for a country. There are many countries which are directly depends on natural resources. Bangladesh is a developing country. Although area of Bangladesh is small, we have also some potential natural resources that are very important for industrialization. * Gas There are 22 discovered gas fields in Bangladesh of various sizes.
The total reserve of 20 gas fields is about 26 TCF (trillion cubic feet). Gas in most of the fields is dry, in a few fields it is wet, with considerable amounts of CONDENSATE, eg at Beanibazar (16 bbl/mmcfg), Jalalabad (15 bbl/mmcfg), and Kailashtila (13 bbl/mmcfg). Currently, natural gas accounts for more than 70% of the total commercial energy consumption and the major part of the future energy demand would be met from it. Power sector ranks the highest (44%); fertilizer sector ranks the second (28%); and industry, domestic, commercial and other sectors together rank third (22%) in gas consumption.
Currently 12 gas fields under public and private sectors are in production with gas supply between 900 and 930 mmcfg per day. We are very much grateful to the nature for bestowing us with a resource like Natural Gas. It is a pride for the Bangladesh that Bangladesh produces all the gas she needs for internal consumption. It is also to be mentioned that we are quite consistently producing Gas than most other Asian countries. * Water Resources Water is the available renewable natural resources of Bangladesh. Bangladesh is endowed with plenty of surface and groundwater resources.
The surface water resources comprise water available from flowing rivers and static water bodies as ponds, beels and haors. Surface water inflows of the country vary from a maximum of about 140,000 m3/s in August to a minimum of about 7,000 m3/s in February. Two main rivers, the brahmaputra and the ganges account for more than 80% of stream flows. Another surface water sources of Bangladesh is Bay of Bengal, a northern extended arm of the Indian Ocean, is located between latitudes 5°N and 22°N and longitudes 80°E and 100°E. Water makes a great contribution in our agriculture, industry and daily necessary.
But if we look the real scenario of water resources in Saudi Arabia, we will find that it is quiet different from us. It is our point of different by which we can brand Bangladesh. * Oil resource Although Bangladesh is far away in oil production in comparison to the Arab world, it is very much consistent than one of the Asian economic giant Pakistan. Here is a brief on that: v. Steel industry in Bangladesh Steel, a major construction element is a must in any kind of modern architecture. The importance of steel in modern economy cannot be overemphasized.
It is such a strategic construction material for housing, power, industry, agriculture energy, transportation mechanized and for almost all the infrastructural developments. Understanding this fact, a separated steel and engineering corporation was introduced right after the independence of Bangladesh. Then the only steel making mill was situated in Chittagong named ‘Chittagong steel mill’. Although it was put under state owned ownership, various sectors of the state did not functioned properly which resulted in the closer of the only one mill of Bangladesh in 1999.
But meanwhile many steel re-rolling mills had introduced themselves as the new horizon for the privatalisation of the steel sector. With the passage of time now the country has over 60-70 steel making plants in the country and the country is now producing about 500,000 tpy of the liquid steel. Backward and forward linkage facilities are undoubtedly is an extra advantage for a country like Bangladesh. Although the steel industry of Bangladesh is not adorned with the modern technologies, the industry is growing at much high rate.
Even the global financial crisis did not have much impact on the steel sector of Bangladesh. Moreover, the steel industry has been getting continuous investment boom due to its steady demand. Foreign investment: Tata’s investment proposal: recently the Tata Group of India and the board of investment (FDI) have signed the largest investment proposal in the history of FDI and Bangladesh. According to this proposal, Tata will set up a power plant (1000 mw), and a fertilizer production plant (1 million TPY) Jindal Group:
According to the Board of Investment (BOI) India based stainless steel production company ‘Jindal Group’ has expressed its sheet interest to invest in the steel industry of Bangladesh. The group has decided to invest some $700 million in our steel industry. Steel industry and GDP of Bangladesh: Having an industry means ultimately increases the GDP of a country. The steel industry of Bangladesh is not an exception to this. From its inception, the industry is contributing greatly to the GDP of Bangladesh. The country’s demand for finished steel has been predicted at about 3. million tons in the year 2007-2008. Comparing to some other South Asian countries, Bangladesh steel industry is experiencing high growth rate which shows a clear difference for Bangladesh in steel industry. Export ships to foreign countries Recently Bangladesh has successfully exported her first ocean going ship to Denmark, which was costing US$ 7 million. Ananda Shipyard and Slipway Ltd, the leading private owned shipyard, got orders from Germany, Denmark and Mozambique to build more than a dozen ships with the value costing of US$300 million.
Few more quality ship builders like Western Marine and High Speed Shipbuilding and Engineering works have also got orders to build dozens of ships from Germany, Netherlands, Japan, Denmark and Finland costing approximately US$ 400 million. Here we see a table which shows the orders recently Bangladesh get from abroad vi. Tourism industry of Bangladesh Bangladesh is a developing country in Asia, holding high potentiality for tourism. Bangladesh Parjatan Corporation (BPC) plays an important role for the development of tourism. For a long time, Bangladesh has been an attractive destination for tourists.
Though it is a small country, it has many diverse attractions for nature lovers as well as being rich in culture and heritage. Tourism has become a very important and dynamic sector in Bangladesh. Its growth affects not only the activities directly linked to tourism but also other sectors. The world thinks of Bangladesh as poor, flood-ravaged, and more of a disaster zone than a travel destination. In some respects, the world is right but hiding behind these images is a country with a rich history, a strange beauty, and some interesting attractions.
Bangladesh is a country with rich traditions, natural beauty, beaches, forests, lakes, hills, wild lives, archaeological attractions, monuments, handicrafts, sanctuaries, religious festivals, cultural heritage, tribal culture and architecture, incredible greenery, mighty rivers and attractive river cruises, sunny beaches, colorful tribal life and attractive cultural functions that offer great tourist attractions. From the ancient time several famous tourist involves travelling in Bangladesh for pleasure, enjoy and education.
The Moorish traveller IbnBatuta who visited Bengal in the fourteenth century described Bengal as the wealthiest and cheapest land of the world and stated that it was known as ‘a hell full of bounties’ In the seventeenth century French traveler Francois Bernie observed and stated “Egypt has been represented in every age as the finest and most fruitful country in the world, and even our modern writers deny that there is any other land of peculiarly favoured by nature; but the knowledge I have acquired of Bengal during two visits paid to that kingdom inclines me to believe that pre-eminence ascribed to Egypt is rather due to Bengal”.
Tourist attractions Bangladesh as a holiday making land exposes to many flamboyant facets. Its tourist attractions are many folded, which include archaeological sites, historical mosques and monuments, resorts, beaches, picnic spots, forests and tribal people, wildlife of various species. Bangladesh offers ample opp