PRAN RFL COMPANY
1.Introduction:
PRAN RFL group is one of the largest and multinational conglomerates,based in Dhaka Bangladesh .The company is known for its diversified business portfolio Following are some of the major sectors where PRAN RFL has a present.Including;
- Food and beverage division
- Plastic division
- Agribusiness division
- Homeware division
- Culinary
- Dairy
- Snacks
- Confectionary
2. Stage of business development;
a.Early stage: In 1980,after retiring from the Bangledesh Army Mr.Amjad KhanChawdhury,he established a small business Rangpur Foundry Limited (RFL) to produce irrigation pumps.The companies goal was to assist farmer in irritating their land by producing cast iron items such as centrifugal pump as well as ensuring acess to drinking water through tube well.
b.Ghowth stage: RFL quickly broadened its operations and now offers a diverse range of product including pump,tube wells,gas stove becoming the most extensive cast iron foundry and light engineering workshop in Bangladesh .Than Mr. chowdhury conceived the idea to establishing PRAN and leased six acres of land in Narsingdi soon after.
c.Expantion: In 1981 they merge PRAN and RFL to form PRAN RFL Group.In 1986 PRAN expanded its activity by venturing into agriculture with the implementation of the contract farming.In 1992 PRAN further strengthened its position in the industry by establishing its food processing plant in Ghorashal .Initially the company began by producing canned sliced pineapples and eventually progress to manufacturing mango drink,jams and jellies with a focus on serving both domestic and International markets.
d.Future ambition:The vision of the company is to creat a wonderful brand image throught the world.The company has strong presence both domestically and internationally and has set ambitious target to double its export earning by 2025 and reached USD 2 billion by 2030.
3.Funding
PRAN RFL company is founded by Amjad Khan Chowdhury at an initian investment of taka 5 lakh PRAN RFL group started its journey in 1981 as Rangpur foundry limited with tube wells and agricultural equipment to provide pure drinking water and irritation facilities to the poor.
4.Unique marketing strategy: When an organization competes based on having the lowest cost in its industry it is following a cost leadership strategy.Seeking to attain lowest total overall cost relative to other industry competetors.A lowest cost leader is highly efficient.They are competing on low price with other industries and earning higher unit of profit. PRAN RFL has a reputation for producing quality product at affordable prices, which has help the company to established a strong foothold in various market .The company has invested in new technologies and innovations to improve its manufacturing process ,product quality and customer service.
There are two type of Marketing strategy: a.Pricing strategy
b.Place or distribution
c.Advertising
d.Target marketing
a.Pricing strategy
They charge based on over head expenses and cost plus. Over head expenses include rent, gas ,electricity ,business telephone calls packing and shipping supplies,delivery,cleaning and insurance,payroll taxes and maintenance
b.Place or Distribution
PRAN RFL group is using existed distributors for distributing their new product .They are making some new channel and assign some distributors to promote their product to all over the country.
They are using mobile shop in the shopping malls,office or crowded areas so that people can purchase the product easily when they like to consume. They will make their consumer by value delivery network.
c.Advertising and promotion
The most successful advertising is done through BTV,NTV,Chennel I and RT V,which are the most popular television channels in the country.
They use some billboard and leaflets and they will hold asport event to promot the product.
The also use their experience so that they they can creat attention to the customer
d.Target marketing
Their main target market people are the young ages.Mostly the school going student who like the PRAN product.Beside they also focus the young generation.
e.Medium of Advertising
- Newspaper
- Magazine
- Radio
- Television
- Directories
- Outdoor and transit
- Direct mail
- Catalogues and leaflets
- Online
4. Success story:PRAN RFL the largest exporter of processed food from Bangladesh had a vision of creating a huge demand globally of this agro based products produced by native farmers.The key was to process the agro product and increasing self-life thereby.Starting successful journey to export market in 1996 PRAN currently export to over 94 countries.Major exporting countries are India,KSA,UAE,Kuwait,Bahran,Qatar,Angola,Australia ,Austria etc. PRAN has won numerous awards for its contribution to Bangladesh’s economy and society including the best brand award and the national export trophy.The group has also been recognized for its corporate social responsibity initiatives.
5.Challenging situation: PRAN RFL faces some ricks and challenges such as currency fluctuations,political instability and change its consumer performance. The company faced major challenge during corona situation.But they tried their best to survive this situation.However they can come back from that situation .
Conclution :
Overall,PRAN RFL group is a well established and diversified conglomerate with a strong presence in Bangladesh and other countries.The company’s future growth prospect and financial performance will depend on its ability to adapt to changing market condition,manage operational risk effectively,and continue to innovate and diversify its product range.