Executive Summary: This report is prepared on “Mantra mega shop”. The report includes the history of the company, the list of their products, competitors of the company, how this organization analyze it’s market, what is the marketing strategy of the company, how consumers behave from both consumers’ and company’s point of view, how the company segments it’s market and how it satisfy it’s customers. From the report the super shop was established in the year 2007. It has a wide range of products and services available to customers. Customers can get all needy products according to the need.
Its competitors are Agora Super Shop, Nandan super shop, Meena Bazar, PQS, ETC, Almas Super Shop, Family needs, Daily needs, and Price House. It has different consumers from different profession, from different social status. It gives top most priority to its customers and treated customers as a royal guest. Its different marketing strategy can provide customers more value than the competitors. In every situation it emphasizes on customer satisfaction and always try to retain the present customer by satisfying them. About The company The concept of super shop is very new in Bangladesh. This concept became popular in late ninety.
From this concept Agora super shop, Nandan super shop, Meena bazar, PQS, Mantra mega shop was established. Mantra mega shop is the new comer in this arena. It was established in the year 2007. It is the sister concern of Ittefaq group. Mantra fashion, New nation, Ittefaq these are the other association of Ittefaq group. The mantra mega shop is situated at Musafir Tower, Kakrail. It has wide range of products and services for it’s clients. Management system and organization chart:: The mantra mega shop is headed by one general manager. Under general manager there is one operational manager.
Purchase department, store in charge, and floor in charge work under the operation manager. Under every dept there are executives. The organization chart of this shop is given below. Organization Chart: General Manager Operational Manager PurchaseITFloor Store Department In charge Purchase IT Asst. In charge Store officers Executive executive Staker Cash Dept Sales Dept AccountantSales Executive Products and services available in this shop:
It provides variety of product to its clients. Consumers get all the necessary things under the same roof. All products are well organized and divided into different segments. List: Grocery: Rice, lentils, powder spices, salt, sugar, wheat, oil Vegetables: All kind of fresh vegetables Fish: All kind of frozen fish Meat: Beef, Chicken, Mutton Bakery Item: Biscuits, Bread, chanachur, beverage, UHT liquid milk, juice etc. Essentials for household: Tissue, cotton buds, napkin, diaper, mosquito coil, candle, shampoo, soap, aerosol, laundry soap, toilet cleaner hair oil, puffed rice Fruits:
All kind of fresh fruits Others: Ceramic Products, Toiletries products, Shaving products, About its customers Both male and female customers visit the mantra mega shop for shopping. Female customers are more than male it’s about 65% of female. Customers from different profession but maximum customers are housewives by profession. As it is situated at kakrail, there are many schools and colleges in this are so after the school period normally radians gathers for shopping . others professionals also gather for shopping like bankers, engineers, service holders, teachers etc. Consumer behavior at super shop:
Consumer behavior is the act, process and social relationship exhibited by individuals, groups and organization in the obtainment, use of and consequent experience with the product, services and other resources. Consumer Behavior is also the study of individuals, groups, or organizations and the processes they use to select, secure, or use and dispose of products, services, experience or ideas to satisfy needs and the impacts that these processes have on the consumer and the society. To find out how consumer behavior in a super shop, we visited the Mantra mega shop”. We describe the consumer behavior from two perception . ne is from the company’s point of view. That means according to the company’s observation/ perception how consumer behaves in the mantra mega shop. Another technique is from our view point. That means we conducted survey on the consumer of the mantra mega shop. We provide them a questionnaire and they try to answer the questions. Beside this survey technique, we also use observation technique to find out the behavior of consumer in a super shop. From the companies view point: By understanding the behavior of the consumer Mantra mega shop formulates its marketing strategy.
According to the executive of Mantra mega shop the marketing strategy and consumer behavior is describe as below. Market Analysis: Under the market analysis mantra mega shop analyzed its consumer, company itself, competitors and conditions. Consumer It is not possible to anticipate and react to customer’s needs and desires without a complete understanding of consumer behavior. Discovering customer current needs is a complex process, but it can often be accomplished by marketing research. We discussed about its consumer in previous. Company: A firm must fully understand its own ability to meet needs.
This involves evaluating all aspects of the firm, including its financial condition, general managerial skills, production capabilities, research and development capabilities, technological sophistication, reputation and marketing skill. Marketing skill would include new product development capabilities, channel strength, advertising abilities, service capabilities, marketing research abilities, market and consumer knowledge and so forth. Mantra mega shop also analyzed itself to understand about the capability to serve the consumer according to the needs. And it is successful in this regard.
Competitors: It is not possible to constantly do a better job of meeting customer needs than the competition without a thorough understanding of the competitions ‘s capabilities and strategies. The main competitor for mantra mega shop are- ?Agora Super Shop ?Nandan super shop ?Meena Bazar ?PQS ?ETC ?Almas Super Shop ?Family needs ?Daily needs. It provides best services to its consumer to prevent switching and try to retain the present consumer. Conditions: A firm cannot develop a sound marketing strategy without anticipating the conditions under which that strategy will be implemented.
The economic condition of the country, the physical environment, government regulations, and technological developments affect consumer needs and expectations as well as company and competitors capabilities. By assessing the economy it sets price for consumer. It abides by the government rules and regulations also. It uses automatic system for inventory control. Market segmentation: Market segmentation is dividing the market into smaller group of buyer’s distinct needs, characteristics or behavior. Mantra mega shop segments its market based on geographic, demographic and psychographic characteristics.
The shop is situated in the capital city of Bangladesh. It has planned to set up outlet in different divisional city of Bangladesh. Both male and female are customers of mantra mega shop. Normally every professional are its target customer. But in terms of social class its target customers are ranging from middle-middle class to upper-upper class. Marketing strategy: Since customer value is delivered by the marketing strategy, the firm must develop its general marketing strategy as it evaluates potential target markets.
Marketing strategy is basically the answer to the question: how will we provide superior customer value to our target market? .The answer to the question requires the formulation of a consistent marketing mix. The marketing mix is the products, price, place and promotion provided to target market. Product: A product is any thing a consumer acquires or might acquire to meet perceived need. Mantra mega shop has wide range of products for its customers. A customer can get every type of products according to the need. In previous we provide the products list. This super shop maintains the quality of products.
It does not compromise with the product quality. That’s why this shop contains domestic and foreign quality product. To grab the market share from competitors it provides the best quality products. Price: Price is the amount of money one must pay to obtain the right to use the product. It charges little bit higher price than the traditional market. But in case of its competitors it charges competitive price. In some case price of the product is lower than the traditional market. But it does not charge price ‘too low’ whether customer might think that product quality is low. Place:
Product should be available in a place where customer can easily capable of acquiring the product. Mantra mega shop is situated at Kakrail. It is the place where corporate house, residence, school and college are situated. So it is easy for the shop for getting all types of customers according to their need. And as our view point it is the right and accurate place for super shop. Communication: Marketing communication includes advertising, the sales force, public relations, packaging and any other signal that the firm provides about itself and its products. It uses print media to promote or advertise its products.
If any kind of discount or sales is declared then it give print ad for letting know the customer. Customer Satisfaction: Marketers have discovered that it is generally more profitable to maintain existing customer than to replace them with new customers. Retaining current customers require that they be satisfied with their purchase and use of the product. Thus, Customer satisfaction is major concern of marketers. Mantra super shop also gives emphasis on customer satisfaction. Mantra super shop always tries to satisfy its customer by providing superior quality and services.
It believes that customers are its main strength. That’s why it treats it’s customers as ‘king’. All complaints from customer are treated carefully. According to their view customers are always right. If any customer complains on any unethical or illegal issues then they remain silent. They want to gain more value from the customers than its competitors. From the customer’s point of view: We use some techniques to know about the consumer behavior in a super shop. We use observation method and conduct a survey by providing consumer a questionnaire. We take 20 consumers as sample for servey.
The sample are from different profession and include both male and female. Observation: We observe the consumer behavior in the Mantra mega shop. From our observation we see that not everyone comes mantra mega shop for shopping. Female consumers normally purchase grocery product like- rice, lentils, fruits, baby foods essential products for kitchen and use for households, cosmetics, laundry products and toiletries items. Male consumers normally purchase fish, meat, grocery products, and shaving products. From our observation we also see that some professionals those who seem single to us purchase canned products, frozen products.
We observed some students also shop from this mega shop. From our observation we see that they buy the food products and beverage items. Survey: We provide a set of questions to some consumer to conduct servey. From our survey, 90%of consumer prefer super shop. Rest 10% prefers traditional market for shopping. But they frequently visit the super shop. From their perception, in super shop their purchasing decision is limited to some brands. In traditional market they get more varieties of products. The 90% of consumer who choose the super shop they think that super shop is time saving.
According to their opinion environment of super shop is very well & friendly and they prefer super shop for availability of all kinds of products. Some consumer think that in super shop they can not bargain for obtaining any product, so they don’t prefer super shop although they visit super shop for getting some exclusive product which are not available in traditional or wet market. The satisfaction level about the service quality of mantra mega shop is ranging from neutral to very good. Some situation exists in case of product quality. Maximum consumers agree that every product is available in this super shop according to their need.
In case of pricing decision we get mixed opinion from consumer. Some think that price is reasonable while other think that price is not reasonable and should be more competitive compare to traditional market. This super shop does not provide online shopping facilities for consumer. 60% of consumers think that online shopping facilities should be provided by the shop. Others opinion is that we are not advanced in technology. Online shopping require credit card. These two factors are not available in our country, so online shopping facilities are not necessary in this regard.
But they agree that when in future these kinds of facilities are available then the super shop can consider about online shopping facilities. This super shop does not provide home delivery facility. Maximum consumers think that home delivery facility should be provided by this super shop. This facility may give competitive advantage. But the super shop is reluctant to introduce home delivery system. . Bibliography: 1. Del I. Hawkins, Roger J. Best and Kenneth A. Coney, Consumer Behavior: Building Marketing Strategy, McGraw Hill Irwin, 9th edition 2. Philip Kotler, Gary Armstrong, Principles Of Marketing, Prentice-Hall of India, 11th edition.