Marketing tools in understanding a market and tackling a growing competition case: sarban duty free shop

Abstract

When the market is new and immature, it’s easy to compete as there are very few or no competitor to challenge you. But as the market starts to grow many new competitors arrive. Bangladesh duty free industry is growing fast. Earlier only Bangladesh Parjatan Corporation was permitted to open duty free shops in airport terminals. This industry was not open for private sector. Sarban Duty free was the first duty free shop to open the door for private duty free industry. As the opportunity for business was overflowing it was easy to earn customers. But as more private duty free shops are entering into the market, business is getting difficult. Now the application of marketing tools can help Sarban duty free to sustain the sales growth in this competitive market. In this report some suggestions are given which will help to explore the Bangladesh duty free industry. Moreover, some marketing tools are used to analyze the challenges that Sarban Duty Free is facing because of competition. It is also found that marketing strategy of Sarban Duty Free has been adjusted with the present competitive situation