Multinational Company Marketing Strategy: An Emphasis on Cement Industry Bangladesh

Abstract

The main objective of this study is to know the multinational cement companies’ marketing strategies those are currently operating their business in Bangladesh. For doing this report, the data is basically collected from several authentic sources like journal articles, paper, governmental reports and several online sites. The study shows that the development of the cement industry of Bangladesh is not too long, so the expansion of the multinational companies’ business in the cement industry in Bangladesh is also comparatively new. As the people of Bangladesh are already inclined to build a permanent house, so in recent few decades the demand for cement has increased in Bangladesh. Currently along with local cement companies, there are also so many multinational cement companies are operating their business in Bangladesh. The study shows that the market share of foreign cement factories in Bangladesh is not more than 30 percent and the recognized foreign cement brands are facing very tough competition with local cement companies. Foreign entrepreneurs have been shrinking as local entrepreneurs come forward to produce international quality cement. Advertising is considered as the great tool of multinational cement companies for increasing sales growth in Bangladesh. All of the companies have their own slogan and this is effective in Bangladesh as it helps to make the products popular by giving unique identity. Many multinational cement companies offer bundle pricing and most of the cement brands in Bangladesh use the touch of a celebrity. Since people are already devoted to them so they will for sure buy the product, and most of the people don’t even think about the quality and rely totally on the ad and their favorite celebrity. Based on the study it has been recommended that multinational cement companies in Bangladesh should take the loss leader strategy, and although the traditional advertisement will continue in future, but they should focus more on the digital media and social media as a part of their marketing strategy.