Marketing Strategies of Dhaka Ice Cream Industries Limited TEAM

TULIP

Chapter 1
INTRODUCTION… 1
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1. Introduction
1.1 Historical background of Polar Ice Cream
The polar brand of Ice Cream Came into being in 1987, Dhaka Ice Cream Industries limited
pioneered in the first hygienically produced and packed Ice Cream in Bangladesh, with the
important ingredients mostly from renowned manufacturer of Australia, European etc. Prime
concern of Polar ice cream is the food safety to the valued consumers.

With cold hubs in Dhaka, Gazipur, Chittagong, Comilla, Sylhet, Bogra, Rangpur, Rajshahi, Khulna
and Jessore the distribution of Polar Ice Cream can be found almost everywhere in the country.
For long distance delivery points we have commissioned freezer vans.

1.2 Company Profile

Company Name : Dhaka Ice Cream Industries limited.
Business Type : Manufacturer
Product/Service : Ice Cream
Address : Dhaka Ice Cream Industries Limited
80, Shaheed Tajuddin Ahmad Sarani,
Tejgaon I/A, Dhaka-1208, Bangladesh.

Number of Employees : The number of employees in Head Office more than 65.
Company Website URL : http://www.polarbd.com
Year Established : 1987
Ownership Type : Individual (Sole proprietorship)
Main customer : Local customer in Bangladesh.

1.3 Mission

To become a unique organization by producing and selling quality products through continuous
improvement and add value to the stakeholders
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1.4 Objective
The goal of Polar Ice Cream Company is:

• Good services to customers.

• Increase return on investment through more selling by quality products.
• To become the market leader.

1.5 Products
Polar has a lot of variation in designing its products. Products are basically categorized into
main 5 categories.

1. Stick Ice Cream

2. Cup Ice Cream
3. Cone Ice cream
4. Liter Container
5. Ice Cream Cake

All of these categories have different tastes of products. Below is a chart of whole products
available in these categories.

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Stick Ice Cup Ice Cone Ice Liter Ice Cream

Cream cream Cream Container Cake
Regular (7) Regular (3) Carnival Regular (4) Vanila
Premium (6) Premium (8) Chocodelight Premium (7) Flouvered
Fruital (3) Heart Shaped

Figure 1: Polar Ice Cream Products

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Chapter 2
Segmenting, Targeting & Positioning

2. STP Marketing
STP marketing is a three-step approach to building a targeted marketing plan. The "S" stands
for segmenting, the "T" for targeting and the "P" for positioning. Going through this process
allows a business owner and marketing consultants or employees to formulate a marketing
strategy that ties company, brand and product benefits to specific customer market segments.
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Segmenting Targeting Positioning

Figure 2: STP Process in Marketing

Segmenting

The segmenting step is essentially a brainstorming activity. First to list out all the potential
market segments a company could target in a marketing campaign.

Targeting

When a company has multiple, distinct market segments, they typically need to customize
marketing campaigns that appeal to each. Going through the STP process, the company selects
which segment to target for upcoming campaign.

Positioning

Positioning is how a company aligns its brand or products in the target market. The goal is to
offer something that is bigger, better or more valuable than your competitors to a particular
market segment.
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Implementation
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Once a company has strategized using the STP process, the next step is to implement all
marketing tasks to achieve intended goals. If they want to increase brand awareness within an
emerging market, they would design commercials or ads that introduce their brand and
develop an image. They may pick media commonly used by that target group. For instance,
they would create print, radio, TV, magazine, Internet or other ads that promote their quality or
value to customers.

2.1 Market Segmentation

Theoretical Overview

Market segmentation is the identification of portions of the market that are different from one
another. Segmentation allows the firm to better satisfy the needs of its potential customers.

The process of defining and subdividing a large homogenous market into clearly identifiable
segments having similar needs, wants, or demand characteristics. Its objective is to design a
marketing mix that precisely matches the expectations of customers in the targeted segment.

Few companies are big enough to supply the needs of an entire market; most must breakdown
the total demand into segments and choose those that the company is best equipped to
handle.

Factors Affecting Market Segmentation

Four basic factors that affect market segmentation are

• Clear identification of the segment

• Measurability of its effective size
• Its accessibility through promotional efforts, and
• Its appropriateness to the policies and resources of the company.

Requirements of Market Segments

In addition to having different needs, for segments to be practical they should be evaluated
against the following criteria:
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• Identifiable
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• Accessible
• Substantial
• Unique needs
• Durable

A good market segmentation will result in segment members that are internally homogenous
and externally heterogeneous; that is, as similar as possible within the segment, and as
different as possible between segments.

2.2 Types of Market Segmentation

The four basic market segmentation-strategies are based on (a) behavioral (b) demographic, (c)
psychographic, and (d) geographical differences.

Demographic Psychographic
(What) (Who)

Geographic Behavioral
(Where) (How)
Market
Segmentation

Figure 3: Market Segmentation

1. Geographic segmentation
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The market is segmented according to geographic criteria—nations, states, regions, countries,

cities, neighborhoods, or zip codes. Geo-cluster approach combines demographic data with
geographic data to create a more accurate profile of specific with respect to region; in rainy
regions you can sell things like raincoats, umbrellas and gumboots. In hot regions you can sell
summer wear. In cold regions you can sell warm clothes.

The following are some examples of geographic variables often used in segmentation.

 Region: by continent, country, state, or even neighborhood

 Size of metropolitan area: segmented according to size of population

 Population density: often classified as urban, suburban, or rural

 Climate: according to weather patterns common to certain geographic regions

2. Demographic Segmentation

Demographic segmentation consists of dividing the market into groups based on variables such
as age, gender, family size, income, occupation, education, religion, race and nationality. As one
might expect, demographic segmentation variables are amongst the most popular bases for
segmenting customer groups. This is partly because customer wants are closely linked to
variables such as income and age. Also, for practical reasons, there is often much more data
available to help with the demographic segmentation process.

Some demographic segmentation variables include:

 Age
 Gender
 Family size
 Family lifecycle
 Generation: baby-boomers, Generation X, etc.
 Income
 Occupation
 Education
 Ethnicity
 Nationality

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Religion
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 Social class
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3. Psychographic Segmentation

Psychographics is the science of using psychology and demographics to better understand

consumers. Psychographic segmentation: Consumers are divided according to their lifestyle,
personality, values. Aliens within the same demographic group can exhibit very different
psychographic profiles.

Some psychographic variables include:

 Activities
 Interests
 Opinions
 Attitudes
 Values

4. Behavioral Segmentation

In behavioral segmentation, consumers are divided into groups according to their knowledge
of, attitude towards, use of or response to a product. It is actually based on the behavior of the
consumer.

Some behavioristic variables include:

 Benefits sought
 Usage rate
 Brand loyalty
 User status: potential, first-time, regular, etc.
 Readiness to buy
 Occasions: holidays and events that stimulate purchases
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2.3 Market Segmentation of Polar Ice Cream

Polar Ice Cream follows below demographical segmentation:

The factors, which have been considered for segmenting, are

(1) Age
(2) Family Size
(3) Income
(4) Social Class

Considering the end-users and sales agents/retailers needs in mind, Polar Ice Cream has divided
its market into segments as shown in Table.

Considered Variables Segmentation Types of Products

Age Group Baby Baby Ice Creams
Adult All Other Ice Creams
Family Size Small Stick, Cup & Cone Ice Cream
Large Liter Container, Cake Ice Cream
Income Low Stick
Medium Stick, Cup, Cone, Liter Container
High Cone, Liter Container, Cake Ice Cream
Social Class Students Stick, Cup, Cone
Family Liter Container, Cake Ice Cream
Corporate Liter Container, Cake Ice Cream

Table 1: Market Segmentation of Polar Ice Cream

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2.4 Target Market: Theoretical Background

A target market consists of a set of buyers who share common needs or characteristics that the
company decides to serve.

2.5 Market Targeting

Market targeting is the process of evaluating segments and focusing marketing efforts on a
country, region, or group of people that has significant potential to respond.

Factors in consideration to select Target Strategy:

1. Company resources
2. Product variability
3. Product’s stage in the life cycle
4. Market variability
5. Competitors’ marketing strategy

2.6 Targeting Approach

There are different kinds of targeting approaches and each marketing firm has its own unique
way of targeting its customers. These targeting approaches are simply divided into four kinds
viz.

1. Undifferentiated or Mass Marketing

2. Differentiated or Segmented Marketing
3. Concentrated or Niche Marketing
4. Micro or Local Marketing

Undifferentiated
Undifferentiated Differentiated
Differentiatedor
or Concentrated
Concentratedor
or Micro
Microor
or
or
orMass
Mass Segmented
Segmented Niche
NicheMarketing
Marketing Local
LocalMarketing
Marketing
Marketing
Marketing Marketing
Marketing
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Targeting Targeting
Broadly Narrowly
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Figure 4: Market Targeting Approach

All the targeting approaches are described below:

1. Undifferentiated Marketing:

Undifferentiated marketing refers to an approach when a firm produces only one product or
product line and targets all of its customers with a single marketing mix. The other term used
for this approach is mass marketing. In Mass Marketing, the market coverage strategy
essentially ignores the market segment differences and goes after the whole market with one
offer. This marketing approach attempts to sell through persuading a wide audience. Usually
the idea is to broadcast the message with an aim to reach the largest number of people
possible. Mass marketing focuses on media coverage such as radio, television and newspapers.
The idea is to maximize the exposure to the product. Examples of mass marketing products are
toothpastes, which are not made especially for one consumer group or segment and are sold in
huge quantities. Other examples are furniture, artwork, automobiles, residential communities,
cola drinks and personal computers.

2. Differentiated Marketing:

The differentiated marketing refers to the approach of the firms, which produce numerous
products with different marketing mixes. These products are designed to satisfy the smaller
segments. In this approach, instead of marketing one product with a single marketing program
the firm approaches the different consumer groups with products customized for each group.
Most companies do this for specialization and to remain competitive. The differentiated
marketing essentially requires market segmentation and incurs a higher production cost,
inventory cost and marketing costs.

3. Concentrated marketing:

The popular term for concentrated marketing is niche marketing. Another term for the same is
"Focused Market". A niche market is a subset of the market on which a specific product is
focusing. Each niche market essentially defines specific product features such as product
design, price range, production quality and the demographics that is intended to impact. In
niche marketing, the firm essentially focuses. Niche marketing chooses a small segment
provided it's a profitable segment. This approach is most suitable to smaller firms, which have
lesser resources.
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4. Micromarketing:
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This is the narrowest approach of targeting. It is most effective technique for small business
users to sustain, build and grow their own brand. It targets the potential customer at the very
basic and personal level.

2.7 Targeting Market: Polar Ice Cream

Polar’s Ice Cream products are not made especially for one consumer group or segment and are
sold in huge quantities throughout the whole country including each area under its coverage.
And this type of targeting strategy is called Undifferentiated Marketing focusing on all
customers available in the market.

2.8 Positioning
Positioning is the act of designing the company’s offering and image to occupy a distinctive
place in the target market’s mind. A product’s position is the way the product is defined by
consumers on important attributes—the place the product occupies in consumers’ minds
relative to competing products.

Choosing a differentiation and positioning Strategy for product

The differentiation and positioning a task consists of three steps: identifying a set of possible
customer value differences that provide competitive advantages upon which to build a position,
choosing the right competitive advantages, and selecting an overall positioning strategy. The
company must then effectively communicate and deliver the chosen position to the market.

2.9 Positioning Strategies

1. Identifying possible Competitive Advantage

To build profitable relationships with target customers, marketers must understand customer
needs better than competitors do and deliver more value. To the extent that a company can
position itself as providing superior value, it gains competitive advantage. But solid positions
cannot be built on empty promises. If a company positions its product as offering the best
quality and service, it must then deliver the promised quality and service. Thus, positioning
begins with actually differentiating the company’s marketing offer so that it will give consumers
superior value.

Point of Differentiation:
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1. Products
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2. Services
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3. Channels
4. People
5. Image
6. Benefits

2. Choosing the Right Competitive Advantages

After discovering several potential differentiations that provide competitive advantages a

company must choose the one specific strategy on which it will build its positioning strategy. It
must decide how many differences to promote and which ones.

How Many Differences can be promoted:

Company should develop a unique selling proposition for each brand & stick to it. Each brand
should pick an attribute & tout itself as “number one” on that attribute. Companies should
position themselves on more than one differentiator. Companies should broaden their
positioning strategies to appeal to more segments.

Which Differences to Promote:

 Important : The difference delivers a highly valued benefit to target buyers.

 Distinctive : Competitors do not offer the difference, or the company can offer it in a
more distinctive way.
 Superior : The difference is superior to other ways that customers might obtain
the same benefit.
 Communicable : The difference is communicable & visible to buyers.
 Preemptive : Competitors cannot the difference easily.
 Affordable : Buyers can afford to pay for the difference.
 Profitable : The Company can introduce the difference profitably.
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3. Selecting an Overall Positioning Strategy

Value propositions (the whole cluster of benefits the company promises to deliver) represent
the full positioning of the brand

Price Winning
Value
More Same Less Propositions

More More for More More for Same More for Less
Benefits

Same   Undifferentiated Same for Less

Less for Much

Less    
Less

Losing Value
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Propositions
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Figure 5: Value Proposition

4. Developing Positioning Statement:

A statement that summarizes company or brand positioning – it takes this form:

To (target segment and need)

Our (brand)

Is (concept)

That (point-of-difference)

5. Communicating and Delivering the Chosen Position

Once company has chosen a position, the company must take strong steps to deliver and
communicate the desired position to its target consumers.

Communicating

Chosen
Position Target
Company
Product, Customers
Price, Place,
Promotion

Delivering
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Figure 6: Communicating Position Statement

2.10 Positioning of Polar Ice Cream

Basing on point of differentiation, effective market segmentation and determination of target

market the organization sets its product, price, placement and promotion strategy, which
ultimately enable the organization to achieve its goals.

Point of Differentiation

At present Polar Ice Cream Factory markets different types of Ice Cream. To support the
market expansion and customers’ satisfaction, it gives importance to some major aspects.
And the company always tried to be differentiated from others in all those places and those
are shown in figure.

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Distribution
Channel

Convenient Quality of
Price Product

Customer
Variety in
Demand
Product
Focused

Figure 7: Point of Differentiation of Polar Ice Cream

Positioning Statement of POLAR Ice Cream

A statement that summarizes company or brand positioning – it takes this form:

To (target segment and need) = Consumer’s

Is (concept) = Happiness

Our (brand) = Polar’s

That (point-of-difference) = Happiness

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Position Statement: “The Consumer’s happiness is our happiness”.

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Communicating and Delivering the Position Statement

Communicating

The Consumer’s
happiness is our
happiness
Target
Polar Ice
Customers
Cream

Delivering

Figure 8: Communicating Position Statement of Polar Ice Cream

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Chapter 3
Products Levels & Product Mix
3.1 Product
Product is anything that can be offered to a market for attention, acquisition, use, or
consumption that might satisfy a want or need.

3.2 Levels of Products

Consumers often think that a product is simply the physical item that he or she buys. In order to
actively explore the nature of a product further, let’s consider it as three different products -
the CORE product, the ACTUAL product, and finally the AUGMENTED product. This concept is
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known as the Three Levels of a Product.

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Delivery After Sale

& Credit Services

Features
Brand
Name
Augmented
Core Product
Actual Product
Customer
Value

Quality Design
Level

Packaging
Product
Warranty
Support

Figure 9: Levels of Products

1. Core Product

The CORE product is NOT the tangible physical product. You can't touch it. That's because the
core product is the BENEFIT of the product that makes it valuable to you. So with the car
example, the benefit is convenience i.e. the ease at which you can go where you like, when you
want to. Another core benefit is speed since you can travel around relatively quickly.

2. Actual Product

The ACTUAL product is the tangible, physical product. You can get some use out of it. Again
with the car, it is the vehicle that you test drive, buy and then collect. You can touch it. The
actual product is what the average person would think of under the generic banner of product.
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3. Augmented Product
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The AUGMENTED product is the non-physical part of the product. It usually consists of lots of
added value, for which you may or may not pay a premium. So when you buy a car, part of the
augmented product would be the warranty, the customer service support offered by the car's
manufacturer and any after-sales service. The augmented product is an important way to tailor
the core or actual product to the needs of an individual customer. The features of augmented
products can be converted in to benefits for individuals.

3.3 Product Levels of Polar Ice Cream

1. Core Product

The core product of the polar is its branded ice creams “POLAR”.

2. Actual Product
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Brand Name: Polar

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Features:
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 Ice Cream with different taste and flavor

 Proper Extent of Ingredients Used
 Australian raw materials are used in production
 European technology used in packaging and distribution

Design or Flavors: Vanilla, Strawberry, Fruity, Doi, Kheer, Pista, Chocolate, Malai, Cake

Packaging: Stick, Cup, Cone, Liter Container and Cake

Quality Level: Regular and Premium

3. Augmented Product

Polar Provides delivery of their products with their own van and also facilitate their customers
with payment flexibility.

3.4 Product Mix

A product mix (or product portfolio) consists of all the product lines and items that a particular
seller offers for sale.

Product mix, also known as product assortment, refers to the total number of product lines that
a company offers to its customers. For example, a small company may sell multiple lines of
products. The four dimensions to a company's product mix include width, length, depth and
consistency.
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Width
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The width of a company's product mix pertains to the number of product lines that a company
sells. For example, if a company has two product lines, its product mix width is two. Small and
upstart businesses will usually not have a wide product mix. It is more practical to start with
some basic products and build market share. Later on, a company's technology may allow the
company to diversify into other industries and build the width of the product mix.

Length

Product mix length pertains to the number of total products or items in a company's product
mix, according to Philip Kotler's textbook "Marketing Management: Analysis, Planning,
Implementation and Control." For example, ABC company may have two product lines, and five
brands within each product line. Thus, ABC's product mix length would be 10. Companies that
have multiple product lines will sometimes keep track of their average length per product line.
In the above case, the average length of an ABC Company's product line is five.

Depth

Depth of a product mix pertains to the total number of variations for each product. Variations
can include size, flavor and any other distinguishing characteristic. For example, if a company
sells three sizes and two flavors of toothpaste, that particular brand of toothpaste has a depth
of six. Just like length, companies sometimes report the average depth of their product lines; or
the depth of a specific product line.

Consistency

Product mix consistency pertains to how closely related product lines are to one another--in
terms of use, production and distribution. A company's product mix may be consistent in
distribution but vastly different in use. For example, a small company may sell its health bars
and health magazine in retail stores. However, one product is edible and the other is not. The
production consistency of these products would vary as well.

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Figure 10: Product Mix Strategy

Product Market Mix Strategy

Small companies usually start out with a product mix limited in width, depth and length; and
have a high level of consistency. However, over time, the company may want to differentiate
products or acquire new ones to enter new markets. A company can also sell the existing
products to new markets by coming up with new uses for their product.

3.5 Product Mix: Polar Ice Cream

Width : All Ice Creams

Length : Stick, Cone, Cup, Liter Container, Cake Ice Cream

Depth :
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Stick Cup Cone Liter Container Cake Ice Cream

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Chocobar Vanilla Carnival Chocolate Vanilla Flavored

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Malai Mango Chocodelight Mango Heart Shaped

Crunchy Strawberry Strawberry
Lolly Googly Vanilla
Penguin Caramel Doi
Cool Shell Chocolate Kheer
Rocks Doi Butterbite
Mango Kheer
Lemon Pista
Orange

Table 2: Polar Ice Cream Depth

Consistency :

As all the products are Ice Cream products but with different flavor and taste, besides closely
related with each other in nature, it can be said that there is a close consistency among the
width, length and depth of Polar Products.

PRODUCT MIX

POLAR ICE CREAM

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Width
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Stick Cup Cone Liter Cake Ice

Chocobar Vanilla Carnival Container Cream
Malai Mango Chocodelight Chocolate Vanilla
Crunchy Strawberry Mango Flavored
Lolly Googly Strawberry Heart Shaped
Penguin Caramel Vanilla
Cool Shell Chocolate Doi
Rocks Doi Kheer
Mango Kheer Butterbite
Lemon Pista
Orange

Length

Figure 11: Polar Ice Cream Product Mix

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Chapter 4
Branding Strategies
4.1 Branding Strategy
A branding strategy helps establish a product within the market and to build a brand that will
grow and mature in a saturated marketplace. Making smart branding decisions up front is
crucial since a company may have to live with the decision for a long time.
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When a company manages its brands it has a number of strategies it can use to further increase
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its brand value. There are four strategies of branding as presented below:
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Product Category

Existing New

Line Brand
Existing Extension Extension
Brand Name

Multi New
Brands Brands
New

Figure 12: Branding Strategies

1. Line extension: This is where an organization adds to its current product line by introducing
versions of its products with new features; an example could be a crisp/chips manufacturer
extending its line by adding more exotic flavors.

2. Brand extension: If your current brand name is successful, you may use the brand name to
extend into new business areas. For example Virgin Group extending its brand from records,
to airlines, mobiles and banking.

3. Multi Branding: The Company decides to introduce more brands into an existing category.
Kellogg’s for example having a number of brands in the cereal market and the cereal bar
market. Multi-branding can allow an organization to maximize profits, but a company needs
to be weary over their own brands competing with each other over market share.

4. New Brands: An organization may decide to launch a new brand into a market. A new brand
may be used to compete with existing rivals and may be marketed as something ‘new and
fresh’.

4.2 Polar Ice Cream Branding Strategy

Polar Ice Cream deals with only one brand “Polar” which their flagship brand is of Ice Cream.
Polar is adding new featured and flavored ice creams in their production line regularly to
compete in the market.
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As Polar is promoting and customizing new labels of existing products under the existing
umbrella of POLAR brand, we can define Polar’s Branding strategy as Line Extension strategy of
the brand.

4.3 Conclusion
From an extensive marketing analysis of the ideas and marketing concepts at work in the
operation of Polar Ice Cream, it is possible to obtain an insight to the essential marketing
practices adopted by the company.

Evidently by virtue of its unique product attributes, high quality, exquisite and mouth- watering
varieties of ice creams, attractive and distinct packaging, Polar Ice Cream has been able to
ensure marketing excellence and enhance its competitiveness.

References
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On Net References
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1.http://www.polarbd.com/index.php
2. http://www.investopedia.com/
3. www.businessline.com
4. www.papers4you.com

Print References

1. Principles of Marketing, 14th Edition, Philip Kotler & Gary Armstrong

2. Product Mix Strategies:FMCG in Indian Market, Mohankumar T.P. and Shivaraj B.

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