Market Creation Strategies for UHT Milk: A Case of Akij Food and Beverage Limited

Abstract

The market creation strategy involves creating and introducing new value into an area with no existing market. By providing that value, a marketer can create new demand and, eventually, a market. The purpose of this study is to highlight and provide some suggestions about how to create a new market in the FMCG industry with the help of industry and company analysis.

In Bangladesh, the food and beverage industries are growing rapidly. Akij Food and Beverage Limited (AFBL) is the most well-known food and beverage company in Bangladesh. It became an established company in the food and beverage industry with the help of its rapid expansion. The AFBL company has high-quality products, which helped it establish a leading position in their field by introducing advanced technology, cultivating human resources, and introducing new products as per customer expectations.

The first section of this report provides a thorough overview of the industry, including its size, maturity, and trend; technological factors; legal and political factors; its products and services; industry rivalry; and a summary of challenges and opportunities. The second section provides a description of AFBL and highlights the company’s remarkable history, the company’s mission vision and goals, customer mix, product mix, service quality, and SWOT analysis. The next section provides the main part of this report: market creation. Four strategies are discussed and suitable market creation strategies identified

Based on the internship experience, the report attempts to offer some recommendations that may be useful for the market creation of UHT milk by AFBL.