Abstract:
This report analyses the marketing mix and the STP (Segmentation, Targeting, Positioning) strategy of Believe International Private Limited, the top most personal care and biggest halal company in the world. Believe International has developed its own presence in the FMCG sector both offline and online social with a special business model that comes into play with a broad audience in the online FMCG industry. The report studies the efficiency of the company’s existing marketing strategies in terms of the value they generate, the visibility of the brand, and the formation of customer relationships. The findings specifically show that Believe International has been able to identify a targeted market of interested mature, cost-sensitive customers. The company, in turn, segmented itself through a defined segmentation based on demographic and behavioral factors target audience and tailored its marketing strategies to its needs. In the marketing mix analysis, the economy, penetration, and distribution as well as promotion are analyzed using one for affordability, direct for increased accessibility, and integrated for increasing brand reach. These findings give rise to the report’s recommendation to extend demographic segmentation for younger customers and further emphasize trendy products for engagement. Recommendations related to pricing and promotion strategies reflect further improvement in customer access and distribution network to strengthen. Overall, the company's current marketing strategy effectively addresses market demands, positioning it favourably to expand its presence in Bangladesh's highly competitive personal care sector. Implementing the proposed enhancements would further strengthen its competitive edge and significantly improve customer loyalty prospects.
