Be Local.pptx Individual Integrated Assignment (IA)

Marketing

1. Be Local - Dilara Dry Sprats Name - Student number - Study Center

2. Company introduction A well-known business in Sri Lanka's canned fish sector is Dilara (Pvt) Ltd. Their products are marketed through retail as well as HORECA Trade, and they currently assert a 50% market share. They intend to supply the Sri Lankan market with only dry sprats prepared in Sri Lanka. By launching their items in the Western Province first, they want to earn 250 million rupees. At present, the company's primary objective is to sell its dry sprat products in the Western Province before 2023 and earn an income of 250 million rupees. In addition, this presentation is produced to focus more on digital strategy while expanding the business, propose a pricing strategy and generate sales forecasts through sales forecasts. 2

3. Task 01 Situational Analysis SWOT Analysis Competitor Analysis Competitive advantages Sri Lankan products are superior in taste and quality. Therefore, it can be distinguished from foreign products. Dilara company currently has a market for canned fish. It can be used to promote the new product within the existing customer base. The price of a kilo of foreign dry sprats is 2500 rupees. But Dilara company can offer quality products in the market at a lower price than that based on its cost. Dilara Company has more focus on digital media. More results can be expected considering the current adaptation due to the focus on digitalization than other companies. 3

4. 4 Situational Analysis Cont’d PESTL Analysis Political environment The political stability in the country is at a low level. Sri Lanka is ranked 122 out of 194 countries. Infrastructure like fuel and electricity required for transportation in the country is very scarce. Economy environment The country currently has a GDP of 84.52 billion USD reserves. There is a shortage of dollar reserves in the country. CCPI based headline inflation recorded at 64.3% on year-on-year basis in August 2022. Social environment Sri Lanka’s population increased by 81 thousand (+0.4 percent) between 2021 and 2022. A large percentage of people in the country avoid nutritious diets. Technological environment 11.34 million internet users in Sri Lanka in January 2022. High prices charged for internet connections. Legal environment An increase in the standard corporate income tax rate to 30% (from 24%) The government has imposed a ban on some unwanted imported goods.

5. Task 02 Digital channels and strategies Sales management software Salespeople collaboration is facilitated by sales management software, which also streamlines routine tasks. The organization may improve teamwork, reduce tedious administrative activities, and eventually meet its sales targets by employing a sales management system. Benefits of SM software Improved Organization Better Scheduling Time-Saving Automation Minimal Data Entry Safe Data Storage 5

6. Digital channels and strategies Cont’d Digital channels – Social media Apps 6

7. Task 03 Pricing strategy and sales forecast Pricing strategies Reasons – Penetration pricing Customer share can be increased by charging a low price and offering a unique product at the time of introduction. With the current economic situation in the country, consumers are very price sensitive. So, it is more beneficial to enter the market at a minimum price. This makes it easier to face competition and establish in the Western Province. 7 Selected strategy – Penetration pricing Price is set artificially low to gain market share quickly

8. Pricing strategy and sales forecast Cont’d 8 Sales forecast – Simple moving average Simple Moving Average is a quantitative method. A moving average is a technique overall idea of the trends in a data set, it is an average of any subset of numbers. The moving average is extremely useful for forecasting long term trends. Year 2023, 2024 sales forecast 2023 – Rs, 250 million 2024 – Rs, 350 million

9. Pricing strategy and sales forecast Cont’d Expected profit statement - 2023,2024 9 (Rs million)

10. THANK YOU Thank you Q & A