| dc.description.abstract | Market creation refers to the strategic step taken by a company to develop the existing market as well as looking for a new market. The aim of this study is to identity the marketing strategies necessary for creating market. In identifying and creating new market, four paths are considered which include PATH 1- A new product to an unknown customer set, PATH 2- A new product to a known customer set, PATH 3- A known product to a known customer set, and PATH 4- A known product to an unknown customer set where Al-Amin Electric is taken as the case.
Several Bangladeshi companies manufacture a number of consumer electronics products. Electronic goods hold a large portion of the domestic market. Previous research estimates that the global electronics market will surpass $1 trillion in 2021. That market is anticipated to reach $1.29 trillion by 2025 and increase at a rate of 5% annually. According to Report linker, the market for household appliances is anticipated to reach $331.57 billion by 2021 and increase by 7% annually, reaching $436.04 billion by 2025. The market for consumer electronics and home appliances in Bangladesh, however, is only worth $2.32 billion. Therefore, we are missing the big chunks of this huge trending sector. The fourth industrial revolution is on the horizon, and that is the technological revolution. The more technologically advanced we are, the more the benefits will prosper our country. Technological marvels are all around us, and we cannot help but appreciate the wonders of modern science. Al-Amin Electric is one of the largest household electric, appliances, electronics, and dish networking service providers in Bangladesh. Our name is not as famous as other companies doing the same business because we are not the retailers, but rather the whole sellers. We have been in this business for 30 years and ongoing. We have a profound history and an ethical management team for the smooth running of our operations. In this paper, we start with the company portfolio, which includes the Board of Directors, company overview, visions, and missions. Then, in the second part, we talk about the overall electronics sector, market trends, and major players. This part also includes our products and prospects. The third part talks about dominating the new market while formulating a suitable marketing strategy for AL-Amin Electric. Analyzing the activity of the company while preparing this report gave us some valuable insights and we found some limitations which are hampering the company while providing recommendations to solve them. | en_US |
